Antonia Winkler
Senior Manager Market Entry & Project Management
+852 2532 1290 winkler.antonia@hongkong.ahk.de
International Alliance Highlights Investment Fraud
The international support group Investment Scam Asia (ISA) documents cases of investment fraud originating in Hong Kong. Over 150 members from more than 15 countries report a combined loss exceeding EUR 44 million. Fraudsters operate through shell companies and local bank accounts. ISA calls for greater international cooperation and regulatory oversight. Further information is available at: www.investment-scam-asia.com.
Red Flags and Known Domains
Fraudulent websites often appear professional, offering German-language versions and using industry-specific terminology accurately. However, operators typically remain anonymous, and communication is limited to impersonal channels (e.g. @qq.com, @126.com). A common pattern involves upfront payment requests followed by a loss of contact.
Domains flagged in multiple reports:
Key Recommendations to Minimise Risk
1. Verify the business entity
- Request official company documents (e.g. from the Hong Kong Companies Registry)
- Check domain details using a WHOIS search
- Conduct reverse image searches for product or staff photos
- Validate office addresses using Google Street View
2. Review communication critically
- Do not rely solely on email, WhatsApp or Telegram for business decisions
- Always confirm bank account details by phone with a verified contact person
- Apply the four-eyes principle to all transfers of funds
3. Strengthen payment security
- Avoid payments to private or unrelated accounts
- Be cautious of unusually short payment deadlines
- For larger sums, consider using letters of credit or escrow services
4. Improve internal procedures
- Train staff to recognise fraudulent patterns
- Implement role-based access to payment approvals
- Raise awareness among new employees regarding common fraud schemes
Further Resources
- WKO Watchlist (Advantage Austria)
The Austrian Federal Economic Chamber (WKO), through its foreign trade organisation Advantage Austria, maintains a regularly updated list of Chinese companies reported as suspicious. The entries are based on input from Austrian companies and foreign trade offices.
https://www.wko.at/aussenwirtschaft/liste-verdaechtiger-chinesischer-firmen - Scameter+ (Hong Kong Police / Cyber Security Bureau)
A free app provided by the Hong Kong Police Force and the Cyber Security and Technology Crime Bureau. It allows users to check suspicious domains, email addresses, phone numbers, and bank account details.
https://cyberdefender.hk/en-us/ - ScamAdvisor
A tool that evaluates websites based on domain history, technical data, user feedback and potential risk factors. Useful for assessing new or unknown suppliers.
https://www.scamadviser.com - HK Junk Call (Chinese only)
A local database for identifying suspicious phone numbers in Hong Kong. Useful when receiving unexpected calls from unknown contacts.
https://hkjunkcall.com
Support from the AHK network
GIC offers preliminary checks on unknown business partners and can facilitate further background verification through the AHK network if required. In suspected fraud cases, businesses are advised to contact their bank immediately and inform the relevant authorities without delay.