Scammers Target Overseas Students in Fake Money-Laundering Gold Scam

Overseas students are being tricked into buying gold in Hong Kong under fake money-laundering probes, with losses up to HK$1.5 million per victim, prompting a police warning.

Wed Apr 22 2026

Overseas Students Targeted by Scammers

Hong Kong police have issued a warning about a new scam targeting overseas students. Fraudsters have been accusing students of money laundering and luring them to Hong Kong to purchase gold, claiming it is for bogus law enforcement investigations. At least nine victims, with losses ranging from HK$740,000 to HK$1.5 million (US$191,531) each, have fallen prey to this scheme.

Details of the Scam

The victims, aged between 19 and 26, are students primarily studying in the United Kingdom, Australia, and other countries. The scammers typically approach them via phone or online messages, fabricating stories about fake money-laundering investigations. Police are urging extreme caution against these cross-border impersonation scams.

*Source: SCMP (2026-04-22)*

Tags: #student scam #money laundering #Hong Kong #fraud #impersonation