A credit card company is reviewing how it verifies applications after police said a syndicate cheated it out of HK$700,000 by using bogus documents to get cards.
The review comes after a man was arrested in connection with the fraud against Aeon Credit Service (Asia).
Police said the cards had been used to buy goods and make cash withdrawals.
Aeon (Asia) general manager Wong Shing-chung said a review of application procedures had been launched. 'We have also reminded our frontline employees to make more verifications while handling applications,' he said.
Police said officers seized more than 100 copies of identity cards, 36 Aeon credit cards, bogus documents, a computer and a printer from the 27-year-old man's Sham Shui Po flat after he was arrested on Tuesday.
Superintendent Peter Li Yick-lung, of the Commercial Crime Bureau, said investigations indicated the syndicate used the ID card copies and false documents such as proof of income and address to apply for credit cards.
'We estimate that the credit company lost about HK$700,000 in this case,' he said.
He added that the syndicate had been in operation since last July.
Aeon's suspicions were aroused last month after staff found the same address had been used in several applications and police launched a month-long probe that led to the arrest.
Mr Li said police were still investigating how the syndicate obtained the copies of identity cards.
'It is possible that copies of identity cards might have been obtained by another member of the syndicate who is still at large,' he said.
Last night, the man was being detained at a Wan Chai police station for questioning.