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Crime in Hong Kong

Phone scams are harming the reputation of Hong Kong’s financial sector

PUBLISHED : Friday, 20 July, 2018, 4:32pm
UPDATED : Friday, 20 July, 2018, 4:32pm

In Hong Kong, most if not all of us must have received cold calls from financial companies which pose as well known banks, claiming that they can provide loans with low interest.

Recently, I received multiple calls from a loan provider which claimed to be Public Bank (Hong Kong). I was so angered that I needed to get revenge on these cold callers. I pretended to accept their offer and discussed a loan plan with them. I found that their strategy is so aggressive that they can make a so-called initial application almost immediately, provided that you disclose financial information and an ID card number, even if the information is absurdly fake.

Such calls are not just annoying to ordinary people, but also harm the banks whose names are used. Reputations are being seriously damaged.

Online and phone scams cost Hongkongers HK$3.3 billion in less than a year

Other than installing filtering apps, there is no way to stop these companies from calling us. People might think that the banks do not know how angry the annoyed receivers are. In fact, the banks have denounced these scammers many times.

People who desperately need financial support may fall for the tricks of these shameless loan sharks. They may hand over their personal information, which could have unthinkable consequences.

Our police force has taken only limited action to crack down on these fake banks. Why are we still receiving calls from them?

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Hong Kong is a renowned financial centre where we can easily obtain loans from genuine banks. We cannot afford to tolerate these phone criminals. I urge the police to crack down on the people making these fraudulent calls.

Henry Wong, Kennedy Town