Bank Fraud

HK$9.6 m targeted in online banking scam

The e-mail scam tricked 13 people into revealing the code generated by personal security devices after malware steers them to fake websites. Photo: Edmond So

More than HK$9.6 million held in company bank accounts was targeted in a sophisticated e-mail scam that tricked 13 people into revealing the code generated by personal security devices banks issue for customers to conduct transactions online, police say.

Thursday, 9 May, 2013, 5:45am

Fraudsters are laying more false trails

Fraudsters are laying more false trails

A jump in the number of fraudulent financial transactions - the highest in five years - suggests criminals are using more complicated methods to cover their tracks, the city's graft buster says.

31 Dec 2012 - 5:35am

Major banks convicted in Milan fraud case

Deutsche Bank will appeal.

Deutsche Bank, JP Morgan Chase, UBS and Depfa Bank have been convicted by a judge in Milan for their role in overseeing fraud by their bankers in the sale of derivatives to the city.

Judge Oscar Magi yesterday ordered that about €90 million (HK$926 million) of assets be seized from the banks and that the firms pay sanctions of €1 million each. He also convicted nine bankers of fraud.

20 Dec 2012 - 3:19am

China Digest, December 19, 2012

The director of the supply and market co-operative in Lixin county, Haozhou, was ridiculed online after his portrait appeared on "anti-fake" labels on firecrackers, the Southern Metropolis Daily reports.

19 Dec 2012 - 3:18am

Organised bank crimes

Events at Royal Bank of Scotland Group are at the heart of the biggest scandal in banking history. Photo: Bloomberg

Every morning, from his desk by the bathroom at the far end of Royal Bank of Scotland Group's trading floor overlooking London's Liverpool Street station, Paul White punched a series of numbers into his computer.

15 Dec 2012 - 3:12am

China Digest, November 17, 2012

The Beijing Municipal Health Bureau aims to survey 130,000 residents over the age of 45 by March to determine their risk of having a stroke, the capital's third leading cause of death, the Beijing Daily reports.

17 Nov 2012 - 5:00am

Building up a profile of a fraudster

Some of you may remember the sci-fi movie Minority Report, starring Tom Cruise as a police officer in the year 2054 who apprehends criminals based on foreknowledge provided by psychics - that is, he arrests potential criminals before they have committed a crime. This may be wishful thinking. Or is it?

15 Oct 2012 - 1:53am

Eight arrested over suspected bank scam

Eight foreign visitors were arrested yesterday on suspicion of trying to cheat Nanyang Commercial Bank in Central with two suspected bogus cashier’s orders with a combined face value of US$4 billion.

The eight men – a 68-year-old Australian, a Singaporean, four Indonesians and two from Brunei – were arrested on suspicion of uttering forged documents.

6 Sep 2012 - 6:20pm

Couple jailed for laundering HK$6.4b stolen from bank

A Hong Kong-based businessman and his wife were jailed for 61/2 years yesterday for laundering funds embezzled from China's largest state-owned bank.

20 Jan 2007 - 12:00am

Former Shenzhen airport chief on trial for bank fraud

The former chief of the mainland's fourth-largest airport has gone on trial in Shenzhen, accused of defrauding two banks out of millions of yuan by falsifying loan application documents.

The Shenzhen Intermediate People's Court began hearing the case against Cui Shaoxian, the former general manager and party secretary of Shenzhen Airport, on Tuesday.

27 Apr 2006 - 12:00am

Common tricks

Fraudsters obtain an individual's or a company's details, including bank account information. They then steal from the bank account using a forged signature. Fraudsters cut off the victim's telephone line to prevent the bank from contacting the victim.

6 Sep 2004 - 12:00am


Ten members of an alleged bank fraud syndicate appeared in Eastern Court yesterday accused of attempting to drain about $2.9 million from the bank accounts of two companies by using fake documents. No pleas were entered by the eight men and two women, arrested by police in a sweep targeting a gang that allegedly stole over $20 million. Magistrate Ian Candy adjourned the case to December 27.

29 Nov 2002 - 12:00am

Fourth arrest in bank fraud

Police arrested a fourth suspect in connection with an online banking fraud in which about $800,000 was withdrawn from accounts belonging to a 39-year-old HSBC customer. The 27-year-old man was arrested in Tsim Sha Tsui at about 11am and was being questioned last night. Three schoolboys, all aged 16, were arrested at two different banks in North Point on Thursday.

17 Feb 2001 - 12:00am