Average loss for elderly Hongkongers to investment scams jumps 33% to HK$1.08m

The average loss for elderly Hongkongers to investment scams has increased by 33% to HK$1.08 million (US$137,600) in 2026, according to Hong Kong's police chief. This surge in losses is attributed to a rise in scams where fraudsters pose as customer service officers, with such cases nearly doubling from the previous year. Commissioner of Police Joe Chow Yat-ming emphasized the need for greater community vigilance against these syndicates targeting retirees, who often plan to invest their savings and pensions.

The police reported 29,670 scam cases in the first eight months of 2026, a 5% increase compared to the same period in 2025, accounting for half of all crimes in the city. Total losses from scam cases reached HK$5.2 billion as of August, a 4% rise from the same period last year, with investment scams accounting for HK$2.33 billion of these losses.

Brief written by urgent.news from South China Morning Post - Hong Kong's own syndicated text. Machine-written — may contain errors; check the original before relying on it.