Hong Kong is known for being a global financial hub, attracting thousands of migrant workers from neighbouring countries like the Philippines, Indonesia, and Nepal. However, with the lure of better job opportunities and higher wages comes the risk of falling victim to various scams, including stooge accounts and money laundering schemes. 

Fraud cases rose 11.7 per cent year-on-year in 2024. Police recorded more than 44,400 fraud cases last year, which accounted for 47 per cent of the overall crime in Hong Kong in 2024. More than 5,500 cases involved scammers posing as customer service staff, which police described as a new deception tactic that emerged in early 2024, according to Commissioner of Police Raymond Siu during a special meeting of the Legislative Council’s security panel in February.

Stooge accounts are a common form of fraud in Hong Kong, where criminals recruit individuals – often vulnerable migrant workers – through messaging apps like WhatsApp or Messenger, or through social media platforms like Facebook and Instagram, to open bank accounts under their names, luring them with get-rich-quick schemes. These accounts are then used to process illegal transactions, such as money laundering, terrorist financing, or tax evasion. 

The individuals who open these accounts – known as “stooges” – are typically promised a cut of the profits in exchange for their cooperation. However, while this might seem like an easy way to make money, whether knowingly or unknowingly, these individuals ultimately become accomplices themselves in criminal activities.

“There are a few domestic workers who approached me about being in trouble with the police because they lent their bank account and allowed criminals to transfer big amounts of money to them in exchange for a few thousand dollars,” shares Yuni Andarwati, an Indonesian media personality who helps migrant workers through her social media channels. “One lady was even accompanied by her employer to the police station; luckily, they let her off without a prison sentence, as her employer attested to her character. I always tell my listeners, do not lend your bank account, no matter how big the money they are offering; it is illegal and you can go to jail,” says Yuni.

Migrant workers are often targeted for stooge account scams due to their vulnerable status, limited financial literacy, and lack of awareness about the potential legal consequences. They are sometimes desperate for additional income to support their families back home, making them susceptible to the promises of easy money without fully understanding the risks involved. 

“Nagkasakit ‘yung aking asawa, nahospital siya ng ilang araw, eh walang wala talaga akong pera noon kaya umutang ako sa bangko. Tapos sa sumunod na buwan, iyong anak ko naman may school trip na kailangan kong gastusan tapos mahal pa ng maintenance na gamot ng asawa ko, kaya kulang yung bayad ko sa bangko that month,” [My husband fell ill and had to be hospitalised for a few days, I really did not have any money so I had to take out a loan from a lending company. Then the following month my son had a school trip that I had to pay for, that is on top of my husband’s regular medication, so I couldn’t pay the full monthly loan instalment amount] says Maria, an MDW from Pangasinan, Philippines. 

“Sobrang sakit ng ulo ko sa kakaisip kung saan ako kukuha ng pera. Hanggang sa may kaibigan akong nagsabi na may kakilala daw siya na naghahanap ng mga bank account na pwedeng magdeposit, tapos may kapalit na pera. Nakakatukso kasi kailangan na kailangan ko, pero tinanggihan ko kasi alam ko na illegal ito, nabasa ko sa news na naglaganap ang ganitong modus ng mga criminal, ayokong makulong,”  [My head hurt thinking about where to get the money. Then one friend said she knew someone who was looking for bank accounts to deposit money into in return for some cash. It was very tempting because I really needed the money, but I refused because I knew it was illegal, I read it on the news that this is a common scam and I don’t want to end up in prison] ends Maria.

The impact of stooge account and money laundering scams on migrant workers in Hong Kong is significant and multifaceted. Not only do these individuals risk criminal prosecution, imprisonment, and deportation for their involvement in illegal activities, but they may also suffer financial losses, reputational damage, and emotional trauma as a result of being exploited by criminal syndicates.

This is why financial literacy is so important for migrant workers. This includes increasing awareness about the risks of these schemes through targeted education and outreach programs, providing support services for victims, strengthening anti-money laundering laws and regulations, and collaborating with financial institutions and law enforcement agencies to detect and prevent these crimes.

There are NGOs in Hong Kong that help with financial literacy and scam awareness like Enrich HK and Uplifters; there are also a variety of resources available online through the ADCC website. The best tool is to keep everyone informed and aware of the dangers of lending your bank account and how to manage finances wisely.

“Wag pasisilaw sa halagang kapalit ng pag papagamit ng ating accounts. May trabaho naman tayo matuto tayong makuntento. Nangibang bansa tayo para masuportahan natin ang ating pamilya. Gawin natin silang inspirasyon para ayusin at pahalagahan ang ating mga pinaghirapan ng sa lalong madaling panahon makauwi tayo at makapiling sila,” [Don’t be blinded by the money offered in exchange for using your bank account. We have jobs here and must learn to be content. We moved to a different country so we could support our family. Let us make them our inspiration to give importance and meaning for all our sacrifices so we can get home to them sooner] shares Joselyn Bisquera, MDW ambassador for Enrich HK, PathFinders, and Uplifters.