Phone Fraud: the 90 year old woman loses $32 Million

Web Desk. The 90-year-old woman lost HK$247 ($32 million) in the biggest phone fraud in Hong Kong’s history. According to local police, the fraudsters targeted an elderly woman living in a mansion in Hong Kong’s most expensive area.

Last summer, the suspects presented themselves to the unidentified woman as Chinese public scrutiny officials. The men claimed that the woman’s identity documents were used in a serious case in China.

The woman was told that she would have to transfer her wealth from the bank account to the account of the investigation team so that it could be secured and scrutinized.

According to police, a few days later, a man arrived at the woman’s house with a mobile phone and SIM card so that fake security agents could keep in touch with her.

In the five months, the elderly woman paid HK$250 million to the fraudsters, the biggest phone fraud ever committed.

According to police, the fraud was discovered when the elderly woman’s maid noticed a disturbance in the situation and contacted the owner’s daughter, who alerted police officials.

After the police report, the 19-year-old man was arrested on fraud charges after an investigation but was released on bail. Last year 65-year-old woman lost $10 million in a similar incident in Hong Kong.

Phone scam reports increased by 18% in the first quarter of 2021, with fraudsters stolen US 45 million during that period. Police stated in 2020 they handled 1,193 phone scams where a total of $74m was stolen.

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