1st August 2026 – (Hong Kong) Hong Kong police have reported a surge in online romance investment fraud, with 25 cases recorded between 24th and 30th July involving total losses of nearly HK$70 million.
According to a statement posted on the force’s “CyberDefender” Facebook page, the largest single loss involved a seasoned female insurance professional in her 50s who was deceived out of more than HK$26 million by a man she met online and an accomplice posing as an investment specialist.
Police said the scheme began in July last year when the victim was introduced by a friend to a woman who claimed to be interested in discussing insurance matters. The woman later referred her to a man described as an “uncle” who purportedly worked in car trading and presented himself as an experienced investor. Communication between the pair continued via WhatsApp.
Over time, the man cultivated a romantic relationship with the victim online, frequently expressing concern for her wellbeing. He later promoted cryptocurrency investments and persuaded her to download a digital asset trading application. The victim was subsequently introduced to another individual claiming to be the platform’s owner, who offered to assist in managing her electronic wallet.
Believing in both the relationship and the promise of substantial returns, the victim handed over more than HK$4 million in cash to associates of the fraudsters at various locations across Hong Kong between August last year and February this year. She also made multiple bank transfers totalling nearly HK$22 million into several mule accounts provided by the syndicate.
The deception unravelled last month when the application displayed paper profits exceeding eight times her initial investment. When she attempted to withdraw funds, her request was denied and both the supposed boyfriend and the so-called investment expert became unreachable. She then realised she had been defrauded.
Police cautioned that even individuals with professional financial backgrounds can fall prey to scams when emotions are exploited. Members of the public are urged to remain vigilant and to consult the “CyberDefender” website for up-to-date anti-fraud information. Authorities also recommend using the force’s online scam risk assessment tools to check suspicious websites, bank accounts or telephone numbers.