A woman in Hong Kong lost approximately HK$4.9 million after falling victim to an online investment scam. Scammers lured her using social media ads and convinced her to transfer funds through multiple transactions.

A Hong Kong woman has lost nearly HK$4.9 million (US$625,800) in three months after being cheated by bogus “investment experts” in an online scam. The victim was lured into contacting the scammers after seeing a post on social media advertising high-return stock investments, police said. She was then instructed to download an app via an online messaging service. Believing the scheme to be genuine, the victim transferred about HK$4.86 million in more than 40 transactions between January and April...