Hong Kong police investigate email scam following German pharmaceutical firm’s report it was swindled out of more than €3 million

German firm had been conducting business with supplier from mainland China via email and was allegedly tricked by criminals into making transfer

In separate case involving European firm, Hong Kong-listed pharmaceutical company says its subsidiary in Italy had fallen victim to suspected fraud involving €11.7 million

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Hong Kong police are investigating a German pharmaceutical company’s claim that it was scammed of more than €3 million, the Post has learned. Photo: Reuters

Published: 10:00am, 16 Jan 2024

Hong Kong police have launched an investigation into an email scam after receiving a report from a German pharmaceutical company that it had been swindled out of more than €3 million (US$3.3 million), the Post has learned.

In a separate internet fraud case involving a European firm, a Hong Kong-listed pharmaceutical company on Monday said its subsidiary in Italy had fallen victim to a suspected telecoms fraud involving €11.7 million.

A source familiar with the German case said on Monday that the company had transferred more than €3.16 million into a bank account in mainland China after falling victim to the scam. He said the German firm had been conducting business with a supplier from the mainland via email.

“Last month, the company received an email purportedly sent out from the supplier, requesting a transfer of €3.16 million into a bank account in the mainland,” the insider said.

Hong Kong police launched an investigation into the case after the German company made a report via a law firm in the city on December 21. Photo: Warton Li

The German company complied and made the money transfer, he said, adding the firm realised it had been scammed when it contacted the genuine supplier.