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 the number of 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 local 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…