Hong Kong police have arrested 100 suspects linked to scams with losses totalling HK$180 million as part of a crackdown on fraud and money laundering.
Sham Shui Po district police said on Wednesday they had arrested 75 men and 25 women, aged 17 to 75, in a two-week operation between May 6 and May 20. The suspects were linked to 82 cases of deception and money laundering involving 295 victims.
The biggest single loss was HK$23.7 million, police said. The cases involved fraudulent activities related to investment, online job-seeking, online dating, e-commerce, and phone scam, they added.
Chief Inspector Cheng Ki-fung of the district’s crime division said most of those arrested were “stooge account” holders, who had allegedly provided their bank accounts to fraud syndicates to collect and launder scammed money.
Among them, three men and a woman had been taken to court on suspicion of obtaining property by deception and money laundering, Cheng said. The rest of those apprehended during the operation were granted bail and would next report to the police in June, he added.
The victim who suffered the biggest loss was a 74-year-old man who lives overseas, Inspector Wong Sze-ki said, adding that the man was scammed after meeting someone online who persuaded him to invest in cryptocurrencies.
Wong said the largest scam case involved 54 victims who bought fraudulent discount coupons online.
‘Can’t get away’
Superintendent Chen Chi-cheong, an assistant district commander, said fraud syndicates had been using a large number of stooge accounts to handle the proceeds of their crimes, and the police operation would continue.
“We believe a crackdown on stooge account holders is an effective way to combat fraudsters,” Chen said in Cantonese.
He added that Sham Shui Po police had prosecuted 110 suspected stooge account holders in the past year, 34 of whom had been tried in the District Court, and 11 of whom had been convicted.
Chen also warned residents against lending their bank accounts to scammers as police could apply for the court to impose a longer jail time for those convicted.
He cited a case in which the District Court in February raised the sentence of a stooge account holder to two years and four months in jail after a police application.
“Do not rent, lend, or sell your accounts to other people,” Chen said. “Even if you are not operating the account, it could still amount to money-laundering. In fact, once you turn your account over to crime syndicates, you basically can’t get away.”
Surge in fraud
Hong Kong logged over 90,000 reported crime cases in 2023 – a 28.9 per cent increase from a year earlier – a rise led by a surge in fraud-related offences.
See also: Violent crime and fraud surge, as Hong Kong’s crime rate rises 29% in 2023
A total of 9,239 people were arrested over their suspected involvement in fraud-related cases and money laundering last year. Among them, about 6,500 people were stooge account holders.
Commissioner of Police Raymond Siu said in February that police had been working with the Department of Justice to expedite prosecution and the Hong Kong Monetary Authority to curb scams conducted through banks.
Help safeguard press freedom & keep HKFP free for all readers by supporting our team
