Two Filipinos Arrested for Attempting to Withdraw US$10 Billion at HSBC

On February 10, 2025, staff at the HSBC bank in the China Building on Queen’s Road Central alerted authorities when two foreign individuals attempted to withdraw an astonishing US$10 billion using what appeared to be false documents.

The suspects, a 38-year-old woman and a 68-year-old man, identified themselves as a lawyer and a businessman, respectively, and both held Philippine passports. Following the suspicious attempt, police promptly arrived and arrested them on charges of using false documents.

Further investigation led to the arrest of three additional individuals: a 54-year-old Malaysian man, a 64-year-old Taiwanese man surnamed Tsai, and a 29-year-old woman named Tao from mainland China. The Malaysian and Taiwanese men claimed to be directors, while the woman identified herself as a secretary. In total, five individuals have been detained in connection with this case, all facing similar charges.

Reports indicate that the two primary suspects presented three suspected forged "letters of credit" during their attempt to withdraw the funds. Bank staff became suspicious while reviewing the documents and quickly contacted the authorities for assistance. The case has been handed over to the Central District Police Criminal Investigation Team for further probing.