Latest news with #bouncedcheques
South China Morning Post
a day ago
- South China Morning Post
16-year-old Hong Kong student among 4 arrested over HK$380,000 luxury item scam
A 16-year-old Form Five student and a person with a triad background were among four suspects arrested by the Hong Kong police in an operation targeting a criminal syndicate using bounced cheques to scam sellers of luxury items. Cheung Wai-shan, chief inspector of the force's regional crime unit in Western District, said on Saturday that the syndicate was responsible for at least 16 cases amounting to HK$380,000 (US$48,568). The scammers would approach sellers on online buy-and-sell platforms to purchase luxury watches, audio systems or expensive electronics, according to police. 'They would purchase mule accounts which have no actual balances and use their chequebooks to deposit funds into the sellers' accounts,' she said. The sellers would hand over the items by post or in person, mistakenly believing that the payment had been deposited into their accounts, only to realise a few days later that they had been scammed when the cheques bounced. 'The syndicate would then resell the items for profit,' she added. Police investigations revealed a syndicate operating across Hong Kong using these methods.
Zawya
4 days ago
- Business
- Zawya
Jordan: 17,300 bounced cheques worth $153mln recorded in July — JoPACC
AMMAN — The total value of bounced cheques in Jordan fell to JD109 million in July, marking a 3.2 per cent decline compared with JD113 million recorded in June, the Jordan Payment and Clearing Systems Company (JoPACC) said on Tuesday. Data from JoPACC, cited by the public service TV Al Mamlaka, showed that 17,300 cheques were returned last month. Of these, 65.2 per cent were bounced due to insufficient funds, totalling JD76.5 million, while the remaining 34.8 per cent were returned for technical reasons, amounting to JD36.7 million. The number of cheques processed in July also saw a slight decrease of 2.1 per cent, with 551,000 cheques in circulation, compared with 562,000 in June. Despite the drop in returned cheques, the overall value of cheques circulated in the market rose by 9.8 per cent in July, reaching JD3.68 billion, JoPACC said. During the first seven months of 2025, cheques worth a total of JD23.27 billion were circulated in Jordan. The total number of cheques processed in the Kingdom in 2024 stood at 6.51 million, with a combined value of JD40.3 billion. © Copyright The Jordan Times. All rights reserved. Provided by SyndiGate Media Inc. (
Jordan Times
5 days ago
- Business
- Jordan Times
17,300 bounced cheques worth JD109m recorded in July — JoPACC
AMMAN — The total value of bounced cheques in Jordan fell to JD109 million in July, marking a 3.2 per cent decline compared with JD113 million recorded in June, the Jordan Payment and Clearing Systems Company (JoPACC) said on Tuesday. Data from JoPACC, cited by the public service TV Al Mamlaka, showed that 17,300 cheques were returned last month. Of these, 65.2 per cent were bounced due to insufficient funds, totalling JD76.5 million, while the remaining 34.8 per cent were returned for technical reasons, amounting to JD36.7 million. The number of cheques processed in July also saw a slight decrease of 2.1 per cent, with 551,000 cheques in circulation, compared with 562,000 in June. Despite the drop in returned cheques, the overall value of cheques circulated in the market rose by 9.8 per cent in July, reaching JD3.68 billion, JoPACC said. During the first seven months of 2025, cheques worth a total of JD23.27 billion were circulated in Jordan. The total number of cheques processed in the Kingdom in 2024 stood at 6.51 million, with a combined value of JD40.3 billion.
