5 arrested in Hong Kong over HK$1.8 million theft targeting MPF account holders

Hong Kong police have arrested five men on suspicion of posing as Mandatory Provident Fund (MPF) account holders to withdraw HK$1.8 million (US$231,300) from the city’s new online pension fund platform. The scam also prompted the Mandatory Provident Fund Schemes Authority, which manages the pension scheme, to immediately suspend its paperless verification process, known as eKYC, for registering online platform users. It apologised for any inconvenience caused. Chief Inspector Lee Chun-man of the...