A middle-aged local man has fallen victim to an online AI investment scam, losing HK$406,000 (418,000 patacas), Judiciary Police (PJ) spokesman Chao Teng Hin said during a regular press conference yesterday.
According to Chao, the victim met a woman through WhatsApp in April, and they began chatting via the social media platform. During their conversations, the woman recommended some AI investment tools, claiming that they could enhance his chances of success in stock trading. She later invited him to join a WhatsApp group where members of the group purportedly shared investment strategies and stock analyses.
On May 22, a member of the group contacted the victim, urging him to invest in an AI project, claiming that by depositing a certain amount of money, the system could trade stocks for him automatically and make a profit. The victim believed the scammer and followed the latter’s instructions to download a mobile app called INST-SI, and made six bank transfers from May to June, totalling HK$406,000 to various Hong Kong bank accounts designated by the scammer.
However, when the victim discussed the investment project with his family, he became suspicious and then discovered that the account balance was zero. He immediately contacted the app’s purported customer service for an explanation and asked to withdraw his funds, but the “customer service” continually delayed responding to his request with various excuses – and no repayments were made.
Finally realising that it was a scam, the victim reported a total loss of HK$406,000 to the police yesterday.
Judiciary Police (PJ) spokesman Chao Teng Hin looks on during yesterday’s regular press conference. – Photo: Ada Lei
