Hong Kong police arrest 122 suspects over scams totalling HK$91.5 million

Police say 80 men and 42 women arrested comprise suspected holders of 117 stooge accounts and five owners of registered SIM cards linked to some scam cases

‘Police emphasis that residents should never lend, rent or sell their bank accounts to others for handling funds of unknown origin,’ inspector warns

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The stolen funds included HK$1.3 million paid into an account claiming to offer trendy figurines or models at prices lower than the market value. Photo: Shutterstock.

Published: 2:45pm, 14 Mar 2024Updated: 4:00pm, 14 Mar 2024

Hong Kong police have rounded up 122 people on suspicion of swindling 256 residents out of about HK$91.5 million (US$11.6 million) as part of a crackdown on online scams and telephone deception.

Inspector Shum Sze-long of the force’s Wong Tai Sin technology and financial crime squad on Thursday said the 80 men and 42 women arrested comprised suspected holders of 117 stooge accounts and five owners of registered SIM cards linked to some of the scams.

According to police, stooge account holders loan or sell their bank accounts to fraud syndicates to collect scammed money and launder crime proceeds in exchange for hundreds or thousands of dollars.

“One-third of the suspects were unemployed, while others included foreign domestic helpers, drivers, waiters and housewives,” Shum said.

He said the 122 suspects, aged 19 to 80, were detained on suspicion of money laundering, conspiracy to defraud and obtaining property by deception in a 25-day citywide operation code-named “Breakmark”, which wrapped up on Wednesday.

Inspectors Shum Sze-long (left) and Ng Chak-kyi warn there is no legal “grey area” for those lending or selling their bank accounts to scammers. Photo: Jelly Tse

Inspector Ng Chak-kui of the Wong Tai Sin criminal investigation unit said some of the suspects had admitted to loaning out or selling their bank accounts to fraud syndicates.