Hong Kong authorities have arrested 126 individuals and uncovered 111 cases of fraud and money laundering totaling HK$570 million (US$72.8 million) in a two-week crackdown, police announced on Wednesday.
The arrests include 87 men and 39 women ranging in age from 14 to 78, who were involved in a variety of financial crimes such as obtaining property by deception, conspiracy to defraud, money laundering and incitement to money launder.
According to police, a total of 325 victims between the ages of 18 and 86 were swindled out of amounts ranging from HK$4 million to HK$59 million (US$510,000 to US$7.5 million).
The most high-profile case involved a 77-year-old retired man who was tricked by a scammer impersonating a mainland Chinese official, resulting in losses of HK$59 million. Police also noted a rise in phone scams targeting mainland Chinese students, with 55 victims losing a combined HK$39 million (US$5 million).
“This operation demonstrates our firm determination to combat all forms of fraud and money laundering activities in Hong Kong,” said Senior Superintendent Tommy Yip of the Organized Crime and Triad Bureau. “We will continue to pursue these criminals relentlessly and bring them to justice.”
The arrests come amid growing concerns over financial fraud and scams targeting vulnerable groups in Hong Kong. Authorities have vowed to crack down on such activities and protect the city’s reputation as an international financial center.
