Bank of China BEC Fraud Investigation

Bank of China Hong Kong (BOCHK) is a common target for fraudsters to transfer stolen funds, the Hong Kong branch of Bank of China is a key target by fraudsters to transfer funds stolen by Business Email Compromise (BEC) attacks, Digitpol provides assistance to firms effected by fraud connected to all Hong Kong banks and Bank of China HK (BOCHK), all banks in Hong Kong are a target, typically Bank of China Hong Kong is seen more often in investigations by Digitpol, the modus operandi in most cases is that funds are stolen in the USA and Europe by investment fraud, email fraud or invoice fraud and wired to Hong Kong. If the bank is notified in time, they will take the right actions, the problem is often the delay in detection of the fraud, how to present the evidence or the know-how to start a complaint.

Digipol is an investigation and forensic agency, provides support by acting on their behalf locally in Hong Kong. Digitpol's legal partner is an expert in the recovery of funds in Hong Kong and mainland China, jointly the combination of investigative support and legal services we offer International firms rapid response expertise to assist with the investigation, seizure and recovery of stolen funds. BEC, Scams and Internet fraud is rampant and Hong Kong is a key target for the transfer of funds.

If you have transferred funds to a fraudulent bank account in Hong Kong, the following is urgent.

  1. Immediately alert your bank the transaction is fraudulent. This is most urgent.
  2. Report the incident as soon as possible to your local police in the country you reside in. Obtain the Police report or case number
  3. Report the case to the Hong Kong Police. Obtain the Police report or case number.
  4. When required, engage Digitpol and its legal team to act for you in Hong Kong to examine the evidence, prepare a report, investigate the case, and liaise with the Authorities and the Banks.
  5. If your physically located in Hong Kong, go directly to a Police station, and bring all the evidence with you.
  6. When Digitpol is engaged, we will immediately contact the receiving banks security department and put them on notice of the fraud.

If email fraud, cyber crime or cyber attack happens to you, you need to respond quickly. Email Fraud in its several formats such as online identity theft, financial fraud, stalking, bullying, hacking, e-mail fraud, email spoofing, invoice fraud, email scams, banking scam, CEO fraud. Cyber fraud can lead to major disruption and financial disasters.

If the report is filled in time there is a high possibility that the fraudster’s bank account can be seized and the funds frozen.

What is Email Fraud or BEC Fraud

Cyber criminals find ways to hack into the email servers or accounts of small and medium companies, often targeting companies or investors conducting business with Asia countries. Cyber criminals gain access to email accounts and  search through email accounts looking for sensitive information such as outstanding, unpaid invoices or data relating to financial transactions and business between supplier, vendor and clients.

When cyber criminals identify a sale or a due invoice, the fraudsters then send various fictitious emails from the hacked email account or an email address replicated to the original posing to be in charge of the sale or due invoice to be paid, the fraudster is then asking for transfers of funds into a nominated bank account, usually giving an excuse that there is a problem at the bank and an alternative account needs to be used.

What Victims Need To Do

  1. Immediately alert your bank the transaction is fraudulent. This is most urgent.
  2. Report the incident as soon as possible to your local police in the country you reside in. Obtain the Police report or case number
  3. Report the case to the Hong Kong Police. Obtain the Police report or case number.
  4. When required, engage Digitpol and its legal team to act for you in Hong Kong to examine the evidence, prepare a report, investigate the case, and liaise with the Authorities and the Banks.
  5. If you are physically located in Hong Kong, go directly to a Police station, and bring all the evidence with you.
  6. Before you submit data to us, watch the step by step explainer on what to do if your a victim of Stock or Investment Fraud What To Do If Your a Victim of Email or Invoice Fraud

How We Can Help

We provide operational and forensic support to firms that have fallen victim to BEC fraud, email fraud, invoice fraud and the stolen funds have been wired to bank accounts in Hong Kong. Digitpol provides assistance to foreign firms by acting on their behalf locally in Hong Kong. Digitpol's legal partner is an expert in the recovery of funds in Hong Kong and mainland China, jointly the combination of investigative support and legal services we offer International firms rapid response expertise to assist with the investigation, seizure and recovery of stolen funds.

Digitpol's Cyber and Fraud Team are certified fraud and forensic examiners and can deploy to assist with all cases related to email fraud, email spear phishing attacks, email scams and on-line related fraud. Digitpol can deploy forensic examiners to investigate hacking, determine how it took place and report the findings, Digitpol ensures that hackers are not active in your network and ensure your user accounts policies and rules are configured correctly to prevent further attacks.

Request Assistance

Insights