Since mid-2002, CCB has been closely working with various banks in preventing bank fraud cases. Bank fraud includes falsely signed cheques, remittance applications, and the disruption or diversion of telephone communication between banks and targeted account holders. CCB described Operation Tricot, held in late November 2002, that was targeted at neutralising a syndicate actively perpetrating bank fraud crimes. The total amount involved exceeded $60 million in 2002.

The three-day operation resulted in the arrest of 46 persons. Of those arrested, 22 core members of the syndicate were subsequently charged with Conspiracy to Defraud and related offences. Paraphernalia for making forged documents and various counterfeit identification documents, both local and overseas, were found and seized.

Apart from the arrests, significant intelligence findings were unveiled that served a good reference for identifying possible vulnerable areas in banking practices. There was a chance that the same methods would be used in future and that was the main purpose in convening this particular workshop.

The workshop was aimed at updating the banks with the latest modus operandi of bank fraudsters, and served as a forum for sharing best practices in combating this type of crime. The workshop started with a detailed analysis of the modus operandi used by the syndicate quashed. The weaknesses uncovered were then raised and ideas for possible solutions were exchanged between the counterparts in banking industry and the Police.

The workshop concluded with a short address by CCB Chief Superintendent Mr Wong Fook-chuen who expressed appreciation to the bank security officers for the assistance rendered to CCB throughout the investigation. Mr Wong said that this case was a good example of a fruitful result achieved through a close-knit working relationship between CCB and the banks. Similar workshops will continue to be held to foster the communication with the banking industry, he added.

Workshop on bank frand well-received