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Hong Kong police have busted a large-scale scam ring, resulting in losses of over HKD 46 million (approximately VND 15.3 billion). Eight suspects, including seven men and one woman, have been arrested on charges related to fraud and money laundering.
According to the police, the suspects posed as employees of leading securities firms and sent deceptive messages to their victims. These messages often included warnings about account suspensions, tricking investors into providing security information or engaging in illegal financial transactions.
Unsuspecting victims inadvertently aided the money laundering operations by transferring funds to accounts controlled by the criminal group or granting the scammers access to their investment accounts, allowing them to sell stocks for cash.
The scam operated on an international scale, targeting victims in Hong Kong and neighboring regions. Law enforcement seized electronic devices and documents related to the fraudulent activities. So far, 137 victims have come forward, with total reported losses exceeding HKD 40 million.
Some of the suspects are believed to be members of a transnational criminal organization. The group employed sophisticated techniques, including spoofing phone numbers and emails of legitimate securities firms, making it difficult for victims, especially those unfamiliar with financial procedures, to detect any anomalies.
Authorities emphasize the increasing prevalence of online scams, particularly as more people turn to digital platforms for financial transactions. They urge the public to remain vigilant against suspicious messages or emails and to verify the identities of organizations before disclosing personal information or conducting any transactions.
(Source: SCMP)
