Investment scam cases in Hong Kong drop 15%, but losses remain high at HK$1.65b

Hong Kong recorded a 15 per cent drop in investment scam cases in the first half of this year, but losses remained high at HK$1.65 billion (US$210 million), with police warning of fraudsters posing as representatives of legitimate overseas firms to swindle investors. Senior Superintendent Fanny Kung Hing-fun said on Friday that some of these firms of purported overseas origins did not exist at all, or had records of fraudulent activity in other countries. “For some of them, even their purported...