124 suspects arrested in Hong Kong for allegedly lending accounts to fraudsters
Arrestees suspected to be connected with 128 scam cases, involving total losses of HK$68.69 million, according to police
Hong Kong police have arrested 124 suspects in a three-week crackdown on people lending or selling their bank accounts to fraud syndicates using internet or phone scams to cheat victims out of nearly HK$69 million (US$8.87 million).
Yuen Long police launched operation “Furywave” on December 2 and have since arrested 120 locals and four mainland Chinese. The suspects comprised 90 men and 34 women, aged 17 to 71.
They were arrested on suspicion of obtaining property by deception, using false instruments, money laundering or conspiracy to commit money laundering, according to the force.
The operation was launched after district police recorded 3,467 scam cases from January to November, in which victims were asked to transfer money to bank accounts provided by fraudsters.
Inspector Victoria Ma Chung-yee, of the Yuen Long police district’s technology and financial crime squad, said on Tuesday: “The arrestees’ role in the case was that of money mule. They are suspected to be connected with 128 scam cases, which involved total losses of HK$68.69 million.”
Police managed to freeze about HK$890,000 of the funds, according to Ma.
A money mule is someone who lends or sells their bank accounts to help transfer or process illegally obtained funds on behalf of another person.
