Taiwan Asks HK, Beijing To Help Fight 'love Scams'

Taiwan urged Beijing and Hong Kong on Tuesday to work together to investigate a spate of financial love scams that have caused over US$30 million in losses to Taiwanese targets.

Fighting this new type of cross-border fraud will require the cooperation of all three administrations, and sits in contrast to mounting recent tensions over Beijing's desire for closer political links.

According to the Criminal Investigation Bureau, suspects based on the mainland and in Hong Kong used social media to start romantic relationships with victims in Taiwan, and then coaxed them to invest in fake financial companies.

More than 500 local people have been swindled since January last year, with the losses totalling more than US$30 million, including one victim who lost US$2 million, the bureau said.

Targets were encouraged to wire money to Hong Kong-based bank accounts – opened by Hong Kong or mainland people – on the understanding it would be invested in stocks, foreign currencies, gold or futures.

Spurred on by good investment returns displayed on fake websites, victims would then pour in money until they asked to redeem it in vain, the bureau said.

"The suspects used social media to add Taiwanese people as 'friends'... and gradually lured the victims with cyber honey traps to gain their trust and emotional involvements," it said in a statement.

Huang Ming-Chao, the bureau's commissioner, said Taiwanese police are seeking cooperation from Hong Kong and Beijing police for a joint investigation, although they have yet to respond.

Without such cooperation "similar cases would keep happening", he added. (AFP)