Story thread · 2 reports / 2 sources

Scams take toll as international policing seen as key

rthk.hk · 7h · first reportShare

Police said on Friday they had received more than 270 reports of losses suffered in the Fun Coffee investment scam so far, with the total amounting to more than HK$113 million. Individual losses for the victims, aged 32 to 83, were between HK$3,000 and HK$9.63 million. Investors have been unable to get back money they deposited since the alleged Ponzi scheme’s app went offline in mid-July. Senior superintendent Kung Hing-fun of the Commercial Crime Bureau said the force has been working with international law enforcement agencies to tackle companies suspected of involvement in fraudulent activities, particularly those claimed to be headquartered elsewhere. “Apart from intelligence exchanges, we also engaged in joint operations,” she said. “For example in the Fun Coffee case, actually in Hong Kong we made arrests, but also we have joint operation with Macao police. For this case, apart from the arrests in Hong Kong, we also have arrests in Macao.” Eight people have been arrested, includ