TOPIC

Financial crime

Financial crime
Financial crime means any criminal conduct relating to money, financial services or the markets. These include fraud, scams, theft, corruption, insider trading, money laundering and financing of terrorism.
last updated:
2 October, 2024
Philippine Interior Secretary Juanito Remulla places the closure sign on a Pogo hub in Cavite province on Tuesday. Photo: AFP
The Philippines

Why closing Pogos won’t solve the Philippines’ China problems

The battle against corruption, crime and Chinese interference that offshore gaming operators represented is far from over, experts say.

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Banking & finance

Cybersecurity regulator to continue crackdown on illegal financial services

Hong Kong society

Explainer | ‘Angry Chiu Chow man’: who is Hong Kong’s Chim Pui-chung?

Commodities

Mitsubishi loses US$90 million in suspected China copper fraud

Mitsubishi dismissed Gong Huayong, a Shanghai-based copper trader at one of its China units, after finding that he had made unauthorised trades with local companies.

A view of the Zhengzhou Commodity Exchange in Henan province on April 3, 2019. Photo: Imaginechina.
Singapore

Singapore ends pursuit of 15 laundering suspects who surrendered US$1.4 billion

Much of the illicit funds in the record money laundering scandal came from illegal gambling and unlicensed money lending in China.

Banking & finance

Hongkongers suffer more digital fraud than global peers, survey says

Gen Z users are in the crosshairs of online scammers who prowl forums and dating sites for prey, according to TransUnion.

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Banking & finance

China Renaissance names missing founder’s wife to chair investment bank

Hui Yin-ching, also known as Xu Yanqing, was designated as the chairperson of the bank’s board and executive director effective October 9, Renaissance said.

China Renaissance’s founder Bao Fan and his wife Hui Yin-ching during the 2018 Breakthrough Prize at NASA Ames Research Center on December 3, 2017 in Mountain View, California. Photo: Getty Images.
Hong Kong Monetary Authority (HKMA)

Hong Kong’s financial regulator introduces a responsibility plan as scams surge

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.

Banking & finance

New HKMA-sought legislation aims for greater transparency in personal accounts

HKMA will submit a bill that would allow banks to share information among themselves on personal accounts that raise red flags.

Cybersecurity

Cybersecurity threats jump in Hong Kong, as victims lose money: survey

Scams are the most common online threat in Hong Kong, causing lost money or time for nearly two thirds of the victims, a new report says.

Hong Kong has faced increased online threats in the past 12 months, according to a new survey. Photo: Bloomberg
Hong Kong Monetary Authority (HKMA)

HKMA to consult banks on framework to share scam-related losses

The city’s financial regulator has received more complaints about scams this year, while overall losses grow.

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The HKMA logo seen at the entrance of its office in IFC Two. Photo: Jonathan Wong
Crime in Hong Kong

Explainer | Hong Kong’s HK$3 million Scameter raffle: how to participate and what you can win

The Post breaks down this unprecedented publicity drive by police and what sweeteners are available for participants.

Crime in Hong Kong

Hong Kong police arrest 50 in crackdown on scammers who stole HK$110 million

Force highlights new ruse that targets those planning trips to Japan by offering fake currency exchange deals with favourable rates.

Crime in Hong Kong

Hong Kong police launch lucky draws worth HK$3 million to boost Scameter app

Electric vehicle among prizes up for grabs, as force looks to encourage anti-scam app downloads to combat surge in fraud cases.

Police senior assistant commissioner and director of crime and security Keith Yip (left) and Raymond Lam Cheuk-ho, chief superintendent of the cybersecurity and technology crime bureau. Photo: Sun Yeung
Crime in Hong Kong

Hong Kong scammers use fraudulent crypto shops to rob 13 of HK$14.8 million

Police say scammers offer better exchange rates to attract targets, lure victims to make legitimate trades before making off with large sum.

One victim realised he was being cheated after he was trapped in a crypto trading shop when making a transaction. Photo: Shutterstock
Hong Kong society

Editorial | Protect our children from online scams

Cybercrime is a growing global problem and police in Hong Kong face a constant battle to keep up with those behind it.

How financial scammers target Hongkongers

After scams in Hong Kong nearly doubled last year to HK$9.18 billion, this series looks at how emerging technologies like deepfakes have made fraud easier, and what financial regulators and banks are doing to stem the losses.

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Cybersecurity

AI has made Hongkongers more vulnerable to fraud but is also used to fight back

Fraudsters are using AI to convincingly portray themselves as acquaintances and steal digital identities, driving demand for hi-tech cybersecurity solutions.

Emerging technologies have given online fraudsters new levels of sophistication, but they are also helping cybersecurity companies fight back. Illustration: Henry Wong
Cybersecurity

Hi-tech fraud: here are the technologies changing the face of scams in Hong Kong

Emerging technologies like deepfakes, large language models and cryptocurrencies have made fraud easier than ever, with Hong Kong proving particularly vulnerable.

Scams and swindles

Exclusive | Greed, financial illiteracy expose Hongkongers to scams: The Goldfinger maker

Felix Chong, director of the box-office hit The Goldfinger, shares his views about the Carrian fraud case from the 1980s and suggests why Hongkongers continue to fall prey to bigger scams.

Hong Kong Monetary Authority (HKMA)

Explainer | What are the biggest financial scams in Hong Kong? Here’s how to avoid being a victim

A company lost HK$200 million (US$25.6 million) in a corporate scam, while scores of cryptocurrency investors were duped in a HK$1.6 billion JPEX scandal. Here are some tips to avoid the pitfall and how to respond if you are targeted.

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Financial losses involving deception cases reported in Hong Kong nearly doubled to HK$9.18 billion (US$1.2 billion) last year, according to the police. Image: Shutterstock
Banking & finance

Hong Kong widens net to snare fraudsters as losses from online scams surge

Hong Kong will extend anti-fraud measures to internet banking and physical branch transactions amid a rise in online scams in the city.

Financial losses involving cybercrime cases reported in Hong Kong jumped 31 per cent to HK$2.66 billion in the first six months of 2024. Photo: AFP
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