Police attributed the drop in last year’s recovery rate to the rapid development of financial technology and the prevalence of digital apps.  Photo: Shutterstock
Police attributed the drop in last year’s recovery rate to the rapid development of financial technology and the prevalence of digital apps. Photo: Shutterstock

Scammers launder nearly HK$29 billion from victims through Hong Kong bank accounts, cryptocurrency wallets over past 4½ years

  • Police force’s anti-fraud squad says it has intercepted 31 per cent of crime proceeds since its launch in July 2017
  • Online romance scams, commercial email fraud and phone swindles among wide range of deception schemes

Police attributed the drop in last year’s recovery rate to the rapid development of financial technology and the prevalence of digital apps.  Photo: Shutterstock
Police attributed the drop in last year’s recovery rate to the rapid development of financial technology and the prevalence of digital apps. Photo: Shutterstock
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