Commercial email fraud dupes 179 Hong Kong and overseas companies, bilking US$51mil in first quarter of 2019

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Commercial email fraud dupes 179 Hong Kong and overseas companies, bilking US$51mil in first quarter of 2019
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The details of the case were typical of corporate email fraud: In March, swindlers impersonating a senior executive from a subsidiary of the Kuwaiti company sent emails requesting money be transferred

into a specific Hong Kong account.

Local police were notified when the parent company realised it was a scam and filed a report through a lawyer.was sent – with help of a local bank – before the money was siphoned out by swindlers.A law enforcement source said it was possible the subsidiary company’s computer system was infected with a virus or hacked, giving scammers access to information about the business and the relationship with the defrauded company.

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