Hong Kong police arrest seven people after dozens of victims are cheated in scams involving bogus low-interest loans

Hong Kong police have arrested seven people in connection with scams involving fake low-interest loans, which resulted in total losses of HK$2.8 million (US$359,000) for 48 victims.

The six men and a woman, aged 20 to 38, were holders of bank accounts that were used to collect the proceeds of crime, Chief Inspector Mok Tsz-wai of Kowloon East regional crime unit said on Thursday.