Scammers trick overseas students out of gold in fake money-laundering probes

AdvertisementCrime in Hong KongHong KongLaw and CrimeScammers trick overseas students out of gold in fake money-laundering probesHong Kong police say at least nine victims studying in UK, Australia and other countries have fallen prey to the scams 2-MIN READ2-MIN ListenClifford LoPublished: 8:30am, 22 Apr 2026Fraudsters have duped students studying abroad out of up to HK$1.5 million (US$191,531) each by accusing them of money laundering and luring them to Hong Kong to buy gold for bogus law-enforcement investigations, prompting a police warning. At least nine victims aged between 19 and 26, who are studying in the United Kingdom, Australia and other countries, have recently fallen prey to such cross-border impersonation scams, according to Hong Kong police. “Their losses ranged from HK$740,000 to HK$1.57 million,” the force’s Anti-Deception Coordination Centre said on its website. AdvertisementPolice did not reveal whether the victims were mainland or Hong Kong students, but they said the scammers had disguised themselves as officers from Shanghai’s public security bureau and Hong Kong’s Independent Commission Against Corruption (ICAC) in these cases. Posing as mainland officials, the scammers claimed the students were involved in money laundering or other criminal offences and demanded that they cooperate in investigations. AdvertisementThe victims were instructed to fly to Hong Kong immediately and go to jewellery stores to buy gold pellets, the centre said in its latest scam alert. AdvertisementSelect VoiceSelect Speed0.8x0.9x1.0x1.1x1.2x1.5x1.75x00:0000:001.00x