Hong Kong fraud victims lose HK$2.6 billion as scammers peddle bogus cryptocurrency investments, fake jobs, romance
- Online scam cases rose to 14,160 involving HK$2.04 billion from January to August this year
- Online investment fraud alone totalled HK$540 million, more than for the whole of last year
Hong Kong scam victims lost nearly HK$2.6 billion (US$331 million) in the first eight months of the year after being tricked online or over the phone, with a sharp rise in cases of investment and job fraud.
Many were fooled into putting their money in bogus cryptocurrency investments, while women continued to be the main victims of romance scams.
Latest crime figures for January to August show that the number of online scam cases rose to 14,160 involving HK$2.04 billion this year, from 10,185 with losses of HK$1.93 billion over the same period last year.
Online investment fraud accounted for HK$540 million of the total, or more than a quarter of the money lost by 1,131 victims. This was more than the HK$472 million lost by 980 people over the whole of last year.
A police source said the increase in cryptocurrency-related scams was one of the main factors behind the sharp rise in investment ruses.
Fraudsters took advantage of the interest in volatile digital currencies to lure victims to bogus investment websites or applications promising rich profits.
“Some people do not have good knowledge of such trading and the promise of high returns led them to fall victim,” the source said.
