Cases down, losses up: Hong Kong fights phone scams as amount swindled quadruples to US$101 million

Impersonation scams accounted for the vast majority of losses, with an increase in the number of mainland Chinese students getting ensnared. One person had HK$800,000 moved out of her bank account.SINGAPORE: Hong Kong is seeing a surge in financial losses due to phone scams even as it logs a marked decline in the number of cases, with more mainland Chinese students in the city falling prey.

More mainland Chinese students in the city are also falling for such scams, pointed out Senior Inspector Lam Pui-hang of the Hong Kong Police Force’s intelligence gathering and scam response team. She was later shown an arrest warrant and an order for her bank account to be frozen. She was warned not to reveal any information as the case involved Hong Kong officials and several banks, or she would be arrested immediately.Commentary: What ‘psychological warfare’ tactics do scammers use, and how can you protect yourself?

At the same time, she was instructed to click on a link to download an app. Chen entered her bank account information and password into the app, which scammers used to take control of the account and withdraw HK$800,000 over multiple transactions.A team from the anti-scam centre immediately visited Chen’s residence. But the student thought the local police officers were fake.It was only when Chen’s parents contacted her that she realised she was scammed.

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