Hong Kong investment scams top $60 million in a week, with one victim losing $45 million

Hong Kong police have recorded more than 30 cases of online investment scams with losses exceeding HK$60 million over the past week, including one victim who was defrauded of HK$45 million after being lured into a bogus environmental investment platform. 

In a social media post on Wednesday, police said a woman who identified herself as a director of an investment company had commented on an investment-related video on WeChat. A scammer responded, and the two later exchanged investment tips on WhatsApp.

After gaining the woman’s trust, the scammer introduced her to a fake platform that promised high returns. Police said she made more than 60 transfers to personal bank accounts, following instructions from the platform’s fake customer service representatives.

The platform’s dashboard showed a supposed profit of up to HK$650 million. The woman realized she had been scammed when she was unable to withdraw her money.

Police urged the public not to click on unfamiliar links and to be wary of unverified investment websites. They advised people to use open-source intelligence tools to check when a website was registered and assess its authenticity.

Police also warned that platforms asking investors to transfer money to personal bank accounts pose a serious risk of fraud.

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