Hong Kong hardest hit as cross-border scam crackdown uncovers US$752m losses

A cross-border scam crackdown involving 10 jurisdictions has uncovered US$752 million in losses, with Hong Kong accounting for over 40 percent of the total. The investigation involved law enforcement agencies from Hong Kong, Brunei, Canada, Indonesia, Macau, Malaysia, the Maldives, Singapore, South Korea, and Thailand, with one of the largest losses involving a Singaporean firm whose funds were transferred to bank accounts in Hong Kong.