Hong Kong police have executed a significant crackdown on fraud and money laundering, arresting 175 individuals linked to scams totaling approximately HK$780 million. In a press briefing on Wednesday, a police spokeswoman revealed that the arrests occurred during a 16-day operation from May 27 to June 11. The suspects, ranging in age from 17 to 75, were connected to 141 cases of deception and money laundering involving 665 victims.
One of the most notable cases involved a 73-year-old woman who fell victim to an investment scam, losing her life savings of HK$28 million. This incident marked the largest single financial loss within the operation.
The operation’s victims included a notable number of highly educated and high-income professionals such as doctors, lawyers, pharmacists, investment analysts, and university researchers.
According to the police, five of the arrested individuals were buyers of stooge accounts. The remaining suspects were the original account owners who allegedly provided their bank accounts to fraud syndicates to facilitate the collection and laundering of the scammed money.
The authorities issued a stern warning to the public, advising against lending or selling bank accounts to others for handling cash from unknown sources. Such actions could lead to money laundering charges, carrying severe penalties of up to 14 years in prison and fines reaching HK$5 million.
