Should Hong Kong banks pay you back if you are the victim of a financial scam?
About HK$4.5 billion in losses have been incurred from scam and fraud cases in the city in the first six months of 2024
Shamdasani, an 82-year-old small business owner, lost €56,940 (US$62,499) to a scammer who pretended to be a supplier in the Netherlands. He subsequently lost all his pending orders – worth more than US$1.2 million – as well as his rented home in Hung Hom. Shamdasani and his wife had to move into a friend’s place until they could find a safe and suitable flat that they could afford.
“We have almost zero income, no business, no cash flow,” said Shamdasani, who has been in Hong Kong for more than four decades and runs a trading company that deals in branded perfumes, watches and copper products. “It’s a very terrible blow for me, especially at my age.”
“HSBC told me that I will hear from the police. They said ‘henceforth, you contact only Hong Kong police because they have the case’,” he said.
A spokesperson for HSBC told the Post that the bank does not comment on or provide any information related to its customers.
“We are proactively engaged in promoting and ensuring the safety and protection of our customers from criminals and scams, including through public education and consumer protection measures,” the spokesperson said.
