Hong Kong resident swindled out of 2 million HKD in a failed attempt to recover a 5,000 HKD loss from a scam.
Revised Version:
In a deceptive turn of events, a sly con artist in Hong Kong has drained an additional HK$2 million (US$257,824) from a 37-year-old woman, leaving her out of pocket after promising to help recover HK$5,000 she lost in an online scam.
Police have announced that the scam-artist assumed the guise of a fellow victim, claiming to be part of a team adept at recovering funds lost in scams. However, the catch was that the woman had to deposit an initial sum to access these services.
Previously duped this month by a crook on Telegram, this woman fell into the trap once again. On their CyberDefender Facebook page, police warned that "this person pretended to be another victim and falsely claimed that a team behind such scams had successfully recovered losses."
Eager to believe the claim, the unsuspecting woman transferred money to the scammer 13 times within a week, amounting to nearly HK$2 million. It wasn't until she confided in friends that she had been conned again that she realized her mistake and reported the case to the police last week.
Scams like these, often accompanied by online shopping fraud, are a pernicious subset of larger fraud schemes. Despite a lack of comprehensive details on the prevalence of recovery scams within online shopping, these scams typically follow a familiar pattern where fraudsters target victims who have previously suffered losses from scams. Pretending to offer assistance in recovering lost funds, they coerce victims into transferring more money or surrendering sensitive information.
The fraudsters may employ emotional manipulation, exploiting victims' desperation to recover their money, or create a sense of urgency and exclusivity, insisting that only they can provide assistance in regaining lost funds. They may also pose as legal authorities or financial recovery agencies to reestablish trust with potential victims. Lastly, they often operate advanced fee scams, where they ask for upfront payments supposedly for the recovery process, which victims never see again.
The rise of online fraud, including in regions like Hong Kong, has been on the ascent, with cyber-dependent fraud crimes seeing a considerable surge. In the U.S. alone, nearly $13.7 billion was lost to these crimes last year[3]. Older adults and those with substantial financial resources are particularly susceptible to more traditional fraud schemes[1]. Online shopping scams, negative reviews scams, and business email compromise scams are fast-growing dangers[2][3].
- Unaware of the deception, the woman was scammed again by the same con artist in Hong Kong, falsely promised help in recovering her HK$2 million (US$257,824) lost to an earlier online scam.
- In the realm of general-news and crime-and-justice, the resident of Hong Kong was duped 13 times within a week, falling victim to a recovery scam that follows the common pattern of defrauding victims who had previously suffered losses.
- To prevent others from facing the same fate, police have issued a warning on their CyberDefender Facebook page, urging the public to be cautious of scammers posing as fellow victims and offering assistance in recuperating lost funds, which could ultimately lead to further financial exploitation.
