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Crime in Hong Kong
Hong KongLaw and Crime

Hong Kong IT professional scammed out of HK$2.7 million after investing in gold via sham platform

  • Victim coaxed into using sham trading platform after meeting woman claiming to be from Taiwan through language-learning app
  • Police say he made 25 transfers worth more than HK$2.7 million to designated bank accounts for investments within two months

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Police handled 5,105 reports of online investment fraud last year, an increase of 170 per cent from 1,884 cases logged in 2022. Photo: Shutterstock
Clifford Lo

An IT professional in Hong Kong has become the latest victim of a wave of online scams after being duped out of more than HK$2.7 million (US$345,095) while investing in gold via a sham trading platform.

Police released the details of the case on Wednesday through their CyberDefender Facebook page to remind residents to exercise caution while meeting new friends when investing online.

The man reported the scam to police last week.

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According to the force, he fell victim to the fraud after meeting a woman claiming to be from Taiwan through a language-learning mobile application two months ago.

“The woman introduced him to a fraudulent trading website for investing in gold,” police said.

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After setting up an account on the website, he made 25 transfers worth more than HK$2.7 million to designated bank accounts for investments within two months.

The victim reported the scam to police after he was unable to withdraw the money from the trading platform. Photo: Sun Yeung
The victim reported the scam to police after he was unable to withdraw the money from the trading platform. Photo: Sun Yeung
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