185 Hongkongers tricked into buying ‘stocks picked by feng shui masters’ lose HK$100 million in as little as a week
Police urge public to be vigilant as scammers impersonate feng shui masters on WhatsApp groups to lure victims
‘There are many posts on social media platforms that promote using feng shui to select stocks,’ police warn
Clifford Lo
Published: 8:57pm, 16 Nov, 2023
Scammers impersonating feng shui masters lure victims into buying stocks. Photo: Elson LI
More than 180 Hongkongers lost over HK$100 million (US$12.8 million) in just a week after being tricked into buying “stocks” swindlers claimed were selected based on tips from feng shui masters and investment experts, police have revealed.
The force urged the public to be vigilant in a post on its CyberDefender Facebook page, the second alert in two weeks. The previous warning was issued on November 1 after more than 110 people were conned out of a similar amount also within a week last month.
“There are many posts on social media platforms that promote the use of feng shui in selecting stocks,” the post said on Wednesday.
“They claim that by joining these WhatsApp groups, you will receive exclusive tips from feng shui masters and investment experts, guiding you to avoid market downturns.”
Police handled 185 online investment scams within a week. Photo: Warton Li
A source with knowledge of the matter said victims were lured into visiting a sham trading website or downloading an app to buy stocks after joining the groups.
He added they invested through the bogus platforms but when they wanted to withdraw their funds they were blocked.
On their Facebook page, police also said the bogus trading apps included ARAMEX, BtePro+ and Yomaex.
Police revealed they handled 185 online investment scams within just a week this month, with the losses exceeding HK$100 million in total.
One victim lost more than HK$1.2 million after being tricked into joining an instant messaging group called “To be flourishing”.
Police said the man was later lured into downloading a bogus trading app to invest in stocks from mainland China. He was then coerced into transferring the money to various Hong Kong bank accounts through 10 transactions.
The victim realised he had been scammed when he attempted to withdraw the funds on the trading platform but to no avail.
Victims investing on bogus platforms could not withdraw funds. Photo: Shutterstock
“Before making any investments, you should check on the Scameter search engine,” the force said.
Scameter, accessible through the CyberDefender website and app, helps the public identify suspicious web addresses, emails, platform usernames, bank accounts and mobile phone numbers or IP addresses.
In July, police warned that swindlers impersonating investment experts had tricked victims into buying stocks they alleged were picked by artificial intelligence software.
Separately, a 37-year-old professional lost HK$3.92 million last month after a purported assistant to a feng shui master coaxed her into making “donations” to ward off bad luck through WhatsApp.
The woman who lives in an upscale neighbourhood in Ho Man Tin received a WhatsApp message on October 19 purportedly sent by an assistant of a local feng shui master she knew.
“The victim was told she would encounter bad luck and could experience unfortunate events,” a source told the Post on Monday.
The woman was then persuaded to make “donations” to ward off the misfortune. “She was lured into transferring HK$3.92 million into 10 bank accounts in 24 transactions in six days.”
She realised it was a scam about a week later when she received a text message from the genuine assistant, whose WhatsApp account had been hacked by impersonators who requested money transfers from her phone contacts.
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