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Hong Kong police warn of online investment scam after HK$2.8m loss

The Hong Kong force said it logged 50 investment scams in the past week with losses totaling HK$30 million.

Reported · Written up by our desk · North America

Hong Kong police said a man in his 60s lost more than HK$2.8 million, or about US$357,000, in an online investment scam that used claims about a “recyclable waste project.” According to SCMP Economy, the fraudsters posed as employees of CLP Power and told the victim the firm was collaborating with State Grid Corporation of China.

Police said the victim met the scammer on Facebook, then transferred HK$1.5 million to bank accounts provided by the fraudster. When the victim later raised doubts, the scammer urged him to send another HK$1 million and provided materials including a handwritten statement and a picture of a forged Hong Kong identity card, the outlet reported.

SCMP Economy also said police recorded 50 investment scams over the past week, with losses totaling HK$30 million, as investigators warn the public about impersonation tactics tied to fake investment opportunities.

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