Hong Kong recorded over 9,400 scam cases in the first quarter of this year, involving a total loss of HK$1.85 billion ($240 million), up HK$290 million compared with the same period last year, police said on Wednesday.

Speaking at an anti-scam awareness event, Commissioner of Police Joe Chow Yat-ming revealed that although the number of scam cases saw a slight decrease of 0.6 percent, the total losses surged.

Among various types of fraud, investment scams saw 1,200 cases, with losses surging 16 percent year-on-year to HK$920 million.

In addition, about 1,200 elderly or retired residents fell victim to scams, representing a 30 percent rise year-on-year. This group alone suffered losses amounting to HK$530 million, marking a sharp increase of nearly 80 percent.

In response, the police have designated seniors and retirees as the primary target group for this year’s anti-scam public education campaign, and also listed investment fraud as a key focus area for 2026.

To achieve more precise prevention, authorities are rolling out targeted initiatives, including Cantonese opera performances with anti-scam messages, collaborations with telecom operators to educate older adults on safe smartphone use, and launching special anti-scam publicity for individuals withdrawing pension payouts.

On the enforcement front, Chow said police will continue to work closely with the Hong Kong Monetary Authority and the banking sector to dismantle fraud and money-laundering operations, particularly those involving dummy accounts.

Over 1,400 people in connection with scam and money-laundering offenses were arrested in the first quarter, 90 percent of whom were holders of dummy accounts used to launder illicit proceeds.

Contact the writer at stacys@chinadailyhk.com