HK Police Seize HK$3.67M in Cash During Phone Scam Ring Bust

Hong Kong authorities arrested 17 suspects and confiscated HK$3.67 million in cash linked to a fraud syndicate targeting elderly victims via impersonation schemes.

Woofun AI reports that Hong Kong police executed 'Swift Strike,' arresting 14 men and 3 women aged 20 to 54, including 13 Malaysians and 4 locals. Authorities raided three sites, seizing HK$3.67 million in cash believed to be criminal proceeds. The syndicate recruited Malaysians as couriers to collect bail money from elderly victims under the guise of relatives. Investigations revealed HK$4.67 million in fraudulent payments between June 4 and August 14, involving 22 victims with losses totaling HK$2.47 million. On August 14, five additional suspects were detained, and HK$200,000 was recovered. Police warned currency and virtual asset exchanges to verify customer backgrounds and monitor suspicious transactions, noting that conspiracy to defraud carries a maximum 14-year prison sentence.