Hong Kong police have arrested **31 individuals** from a local syndicate involved in **deepfake romance and investment scams** targeting victims in **Taiwan, Singapore, and Malaysia**.
The criminal operation generated over **HK$34 million** (approximately **US$4.37 million**) in illicit funds through deceptive tactics.
Scammers utilized **deepfake technology** to create false personas, often impersonating attractive individuals to lure victims into investing in fictional virtual asset platforms.
Many of the suspects were young, including **students**, and were recruited under the promise of quick financial returns.
During the investigation, police seized over **HK$10 million** in assets, including electronics and luxury items from the syndicate's premises.
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