Police arrested 20 people after linking a suspected telephone-fraud group to at least 16 cases between June and August, involving more than HK$1.3 million. The largest reported loss in a single case was HK$580,000.
Police said callers posed as debt-collection or finance companies, claimed recipients had unpaid debts and demanded immediate transfers to designated bank accounts. They allegedly chose office hours, when people might be busy and have less time to check the claims.
Investigators said the group used a rented unit of about 250 square feet in a Kwun Tong industrial building as a telephone-fraud centre. Police said it rented premises for short periods and frequently changed addresses and SIM-card numbers to make tracing more difficult.
Those arrested included a suspected ringleader, three employees or core members and alleged holders of puppet accounts. They were arrested on suspicion of conspiracy to defraud and money laundering. Police said the investigation was continuing, with officers tracing the flow of funds. Further arrests were possible.
Residents should verify unexpected callers and any request to transfer money. Police also warned people not to rent, lend or sell bank accounts or registered SIM cards, and said anyone unsure about a call could contact the Anti-Scam Helpline 18222.