Hong Kong police have dealt a major blow to fraudsters in a two-week operation dubbed "Widepeak," arresting 100 suspects and recovering a staggering HK$180 million (US$24.2 million) for victims of various scams.

This takedown wasn't just about catching the big fish at the top of the food chain. Police cast a wide net, snaring 75 men and 25 women suspected of being "stooge account holders." These individuals, from cleaners and chefs to decorators, allegedly rented out their bank accounts to criminal syndicates, allowing them to launder money scammed from unsuspecting victims.

The types of scams exposed were a scammer's smorgasbord: investment swindles, phony job offers, online romance cons, e-commerce rip-offs, and even telephone deception. One particularly heartless case involved a 74-year-old businessman who lost a whopping HK$23 million to a cryptocurrency scam, lured in by an online "friend."

Thankfully, the Hong Kong Police Force is offering a lifeline to potential victims. Their "Scameter" search engine, accessible via the CyberDefender website or app, helps identify suspicious websites, emails, and phone numbers. Additionally, the 18222 "Anti-Scam Helpline" is on call to offer assistance.

This crackdown comes amidst a disturbing rise in reported deception cases. Sham Shui Po district alone saw a nearly 30% increase in 2023, and the trend continues in 2024. Police are stressing the importance of dismantling the network of stooge accounts, the financial backbone of these criminal operations. They also warn the public against becoming unwitting accomplices – lending or selling your bank account can land you with serious jail time and hefty fines.

The fight against fraud is a global one, and Hong Kong isn't alone in facing a surge in crypto-related scams. This crackdown serves as a powerful reminder to stay vigilant, be cautious of unsolicited investment advice, and never share your financial information with strangers online.