HSBC Hong Kong BEC Fraud Investigation

Stolen Funds Wired to HSBC in BEC Fraud.

Business Email Compromise (BEC) is soaring and companies are been affected, BEC is an exploit in which the attacker gains access to a corporate email account and spoofs the owner's identity to defraud the company or its employees, customers or partners of funds.

Typically attackers request funds to be transferred to an offshore location typically to Hong Kong. Bank accounts in China and Hong Kong are still the main destination of fraudulent funds, the HSBC HK is identified as one of the key destinations as used by fraudsters due to its presence as a large bank in Hong Kong, due to past cases, Digitpol validated that HSBC is a bank that is fully cooperating with authorities and will take all action to seize stolen funds if presented with the correct documentation, a warrant and more important if notified in time.

Digitpol, a Cyber Crime Investigation Agency provides 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.

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

  1. Report the incident as soon as possible to your local police in the country you reside in. Obtain the Police report or case number.
  2. Immediately alert your bank the outward transaction is fraudulent.
  3. When required, engage Digitpol and its legal team to act for you to examine the evidence, prepare a report, investigate the case, and liaise with the Authorities and the Banks.
  4. If your physically located in Hong Kong go directly to a Police station, and bring all the evidence with you, following that go to the HSBC branch and bring the Police report with you.
  5. 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: https://www.youtube.com/watch?v=wP71GJpCzAs  What To Do If Your a Victim of Fraud 

To file a Police report in Hong Kong, this can only be done in person at the police station or by the E-Crime service. The Police will first need to be satisfied that a crime is actually committed, this is done by the examination of evidence and the evidence that a crime took place. If sufficient evidence is presented the Police will take immediate action.

In the majority of cases related to Internet Fraud, the evidence of a crime is digital evidence, Digitpol can assist with compiling a forensic report that details how the fraud took place and the examination of forensic evidence such as digital data, computer forensics and server logs. Digitpol will present your case to the Police and its legal partner can take civil action when required.

When Digitpol is engaged, we will immediately contact the receiving banks security department and put them on notice of the fraud. 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.