Police record 160 online investment scams in a week involving $120m

Hong Kong police have warned the public to stay vigilant against online investment fraud after more than 160 such cases were reported in the past week, with total losses reaching HK$120 million.

According to police, these scams often begin with unsolicited messages, which are typically used to lure victims into fraudulent investment or romance traps.

In one case, a local woman in her 50s lost over HK$4 million after being deceived through a fake gold investment scheme.

The victim first encountered the scammer on the social media platform TikTok, where he left friendly comments to strike up a conversation. The pair later moved their online conversation to WhatsApp, where the scammer introduced what he claimed to be a high-return gold investment opportunity.

The woman was directed to a fraudulent investment website and, believing the platform to be legitimate, transferred funds into several unknown personal bank accounts over the course of a month. When she was later unable to withdraw her supposed profits, she realized she had been scammed.

Police said the case reflects a growing trend of online fraud targeting middle-aged and retired individuals through social media and messaging platforms.

Authorities reminded the public not to engage with unsolicited messages or click on suspicious links, and to be wary of any “high-return” investment offers online.

They urged potential investors to verify the authenticity of websites and platforms before transferring money, and to avoid sending funds to personal bank accounts.

The public is encouraged to use the police’s “Scameter” website and mobile app to check suspicious phone numbers, URLs, and bank accounts, or to report suspected scams immediately.