Fraudsters swindle more than HK$132mil from victims as online investment scams in Hong Kong jump

Scammers posing as investment experts usually prey on targets through social media and sometimes deploy good-looking and sweet-talking con artists to lure victims. Amount of money the victims lost rose 268% from HK$35.9mil in the first two months last year. — SCMP

Fraudsters swindled more than HK$132mil (RM73.53mil) from victims of online investment scams in 243 cases reported in Hong Kong in the first two months of the year, police revealed on May 5.

The amount of money the victims lost rose 268% from HK$35.9mil (RM20mil) in the same period last year, according to Senior Inspector Lam Pui-hang of the force’s Anti-Deception Coordination Centre. He said 110 cases of online investment fraud were reported between January and February of 2021.