HK-based insurance director duped out of RMB3 million

Victim received calls saying she was wanted for a crime, and that she needed to deposit money “to prove her innocence”

HK-based insurance director duped out of RMB3 million

Insurance News

By Gabriel Olano

A director for a mainland Chinese insurance company was victimized by a phone scam in Hong Kong, losing around RMB3 million (US$436,000), the second largest amount lost to the racket this year.
The 37-year-old insurance director, surnamed Chen, received a phone call in her Hong Kong office on Friday from a man that claimed to be an Immigration department officer and told her that she was involved in a criminal case in mainland China.

Want the latest insurance industry news first? Sign up for our completely free newsletter service now.
Chen later talked to a second man, who claimed to be an officer with the Exit-Entry Administration Bureau of Shanghai. He demanded that Chen pay RMB6.5 million (US$945,000) to prove her innocence. She gave in to the scammers’ orders but notified the police the following day.
Police from the mainland were able to recover half of the money, as the culprits were unable to withdraw the full amount over the weekend. The crime unit of Yau Tsim Mong District is still investigating the case.

In January, a 64-year-old businesswoman based in Hong Kong and Macau was scammed out of HKD12 million (US$1.54 million) using similar tactics.

Related stories:
Insurance fraudster sentenced to jail term and caning
Man sentenced to five months in jail for insurance fraud
Hong Kong insurance scam sees senior agents profiting off their juniors

Keep up with the latest news and events

Join our mailing list, it’s free!