Between January and April 2016, the Police have received about 30 reports from members of public who were introduced to foreign investment opportunities through social media platforms such as Wechat, LINE and Facebook.
Most victims received unsolicited messages from persons claiming to be stock brokers, employees of banks or financial companies who introduced them to investment packages that promised returns of 10 to 50 times the amount invested. The victims were asked to provide their personal particulars, such as NRIC and passport number, to fill up the investment form. They then transferred monies to banks in Hong Kong and China, and had to pay administrative fees, security fees and taxes to receive the profits and returns. Some victims also received phone calls from persons claiming to be from the Hong Kong Monetary Authority or Hong Kong Overseas Control Centre asking them for a deposit before their profits could be released.