About HK$4.5bil in losses have been incurred from scam and fraud cases in Hong Kong in the first six months of 2024. — SCMP
It was a “godsend” to Pishu Shamdasani when he read about the Hong Kong Monetary Authority’s (HKMA) plan for the city’s banks to share scam-related losses.
Shamdasani, an 82-year-old small business owner, lost €56,940 (RM267,431 or US$62,499) to a scammer who pretended to be a supplier in the Netherlands. He subsequently lost all his pending orders – worth more than US$1.2mil (RM5.14mil) – as well as his rented home in Hung Hom. Shamdasani and his wife had to move into a friend’s place until they could find a safe and suitable flat that they could afford.
