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Hong Kong Police Bust Phone Scam Gang, Seize HK$3.67M

Hong Kong police arrested 17 people in a crackdown on a phone scam ring that targeted the elderly, seizing HK$3.67 million in cash. The gang recruited Malaysians to pose as relatives in distress, collecting HK$4.67 million in bail money from 22 victims. Police noted that some crypto exchanges were used to launder funds, urging them to verify customers.

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