Seven classic Hong Kong scams, from fake China crime probes to romance cons

Following news this week of a woman who became the city’s biggest victim yet of an online love scam, we look at some of the other common financial cons that have cost Hong Kong citizens millions over the years

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Scams, cons, fraud, trickery – Hong Kong is no stranger to such nefarious deeds. Photo: Alamy

Published: 4:00pm, 31 May 2018Updated: 4:14pm, 31 May 2018

For a place that is known for how much it reveres money, Hong Kong has a lot of gullible people. They have been duped in all manner of financial scams over the years.

The latest case emerged this week: a 56-year-old woman living in public housing who has become the biggest victim yet of an online love scam in Hong Kong, losing HK$26.4 million (US$3.4 million) in just 18 months.

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The fraudster, who posed as a financial analyst in Malaysia, befriended the Sha Tin resident on Facebook in June 2016. The victim, who is a supervisor in the accounts department of a local trading company, blew her life savings on her long-distance lover before borrowing millions from family, friends and banks.

This is not an isolated case, however, with many others being made to look foolish because of some dodgy dealings. Here are some of the most egregious examples.

Veteran Chinese soprano cheated out of HK$20 million

The biggest single victim until this week of phone fraudsters was Chinese soprano Li Yuanrong, who was duped over the phone in 2015 by fraudsters pretending to be Chinese officials.