Hong Kong logs over 2,100 investment scams in first half of 2026, losses totalling HK$1.6 billion

In the first half of 2026, Hong Kong recorded over 2,100 cases of investment scams, resulting in losses totaling HK$1.6 billion, according to the police. While investment scams made up only one-tenth of the 20,613 deception cases reported, they constituted nearly half of the HK$3.5 billion lost to swindlers. The number of investment scams had decreased by 14.8 percent compared to the same period in the previous year, excluding the recent Fun Coffee crypto scam, reported Senior Superintendent Fanny Kung of the police Commercial Crime Bureau.

The largest single loss amounted to nearly HK$85 million, involving a 67-year-old merchant who fell victim to a self-proclaimed investment expert he met on Facebook. Other scammers utilized social media platforms, offline events, and influencer partnerships to promote their scams, often boasting about having investors worldwide.

Many scams promoted artificial intelligence, automated investment bots, or cryptocurrencies online, with some fraudulent websites lacking legitimacy due to AI-generated company directors and brand ambassadors or fake overseas registrations. Scammers even rented prime office space to entice retail investors. Six individuals were arrested in connection with the Fun Coffee scam, which involved a fraudulent cryptocurrency investment program promising returns of up to 278 percent.

Acting Superintendent Lo Yuen-shan of the Commercial Crime Bureau stated that 273 people reported the scam, with losses totaling HK$113 million. Residents were urged to verify the licences and qualifications of investment platforms using the Securities and Futures Commission's alert lists and the police's Scammeter+ database. According to a UN report, victims of transnational online scams in East Asia, Southeast Asia, Australia, and New Zealand lost up to US$114.1 billion in 2023, with estimated losses tripling from 2023.