Hong Kong police intercepted HK$160 million stolen from overseas victims during first quarter of 2023
- The force’s Anti-Deception Coordination Centre handled 113 incoming stop-payment requests from Interpol under international joint cooperation mechanism
- ‘The chances of recovering swindled money depends on whether victims quickly realise they are scammed,’ police insider says
Hong Kong police intercepted nearly HK$160 million (US$20.4 million) stolen from overseas victims of technology-based crime and deception cases that was deposited into local bank accounts during the first three months of this year, the force has revealed.
In a reply to the Post, the force said its Anti-Deception Coordination Centre had handled 113 incoming stop-payment requests and about HK$158 million in criminal proceeds was intercepted in the city between January and March.
A police source on Tuesday said the requests were made by overseas authorities via Interpol under the “International Stop-Payment Mechanism”, an agreement set up in 2019 between the centre and Interpol’s financial crimes unit that allows either party to request a halt on suspicious transactions.
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The cases included deception by email, investment frauds and online romance scams, with victims including private individuals and international companies based overseas, he added.
However, the insider said the money stolen from victims had not been recovered in all 113 cases, adding that in some instances only part of the funds were recovered or bank accounts targeted by authorities had already been emptied.
“The chances of recovering swindled money depends on whether victims quickly realise they are scammed,” he said.
According to the source, the proceeds were usually laundered through numerous bank accounts within hours or a day before they were transferred out of Hong Kong.
The 113 requests included one made by Interpol to stop half of A$5.5 million (US$3.6 million) stolen from an Australian businessman’s bank account last month.
Interpol said the victim only discovered the loss in early March when he received a message his account password had been changed and to contact his bank.
The businessman reported the case to the Australian Federal Police after checking his company’s recent transactions and discovered two unauthorised transfers to bank accounts in Hong Kong and Malaysia.
The Post learned that fraudsters had transferred half of the stolen money into the Hong Kong bank account.
After the incident was reported, police in Australia, Hong Kong and Malaysia worked closely with Interpol to track the money.
In response to Interpol’s request for cooperation, the force’s Anti-Deception Coordination Centre successfully intercepted the transaction to the Hong Kong account.
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According to Interpol, the funds intercepted in Hong Kong and Malaysia were returned to the company within a few weeks, adding that investigations into those behind the scam were under way.
“By acting quickly, it is possible to intercept and recover fraudulent transactions,” the organisation said.
Hong Kong police set up the Anti-Deception Coordination Centre in July 2017 to track down illegal funds and identify new tactics used by swindlers.
Anti-fraud officers last year intercepted more than HK$1.3 billion in scammed money from local and international victims, blocking more than 500 cases of deception involving wire transfers to suspects.
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The force intercepted HK$2.3 billion in defrauded money in 2021, down from HK$3.07 billion the previous year and HK$3.03 billion in 2019.
Official figures showed police last year handled 27,923 deception cases of all types in which people were swindled out of a total of HK$4.8 billion.
More than 70 per cent of last year’s cases were internet-related, with 22,797 reports of technology crime resulting in a collective loss of HK$3.2 billion. Phone scammers cheated victims out of more than HK$1 billion across 2,831 cases.
