Hong Kong Police Uncover Cross-Border Phone Scam Targeting Students

Hong Kong police have revealed the dismantling of a cross-border phone scam targeting mainland students studying in the UK and Australia. According to ChainCatcher, the criminal group impersonated mainland officials, deceiving victims by claiming their involvement in money laundering and other criminal activities. Victims were instructed to 'cooperate with investigations' by traveling to Hong Kong and purchasing gold nuggets from jewelry stores as 'security deposits.' Each purchase was kept under HKD 120,000 to avoid registration requirements, with the group collecting and transferring the stolen goods. The gold was then melted into bars or exchanged for cash and virtual currency. Authorities have received seven related reports, with total losses amounting to approximately HKD 7 million, and the highest single case loss reaching HKD 1.6 million.