Bookmakers Accepted Millions In Bets Via FPS: Police

Police on Monday said they have neutralised an illegal bookmaking syndicate that allegedly collected debts through the popular online payment platform, Faster Payment System (FPS).

Officers say the syndicate had recruited jobless people in Sham Shui Po to open virtual bank accounts, and used those to collect bets via FPS.

The system – introduced by the Hong Kong Monetary Authority in 2018 – allows people to send and receive money instantly using just their mobile phone numbers or email addresses.

Officers say this is the first illegal bookmaking case thought to have used FPS in this way.

The force said 22 people, including the alleged mastermind, have been arrested, and some HK$10 million in cash and assets were seized. Officers say more arrests may be made later.

They believe the syndicate had collected around HK$500 million in illegal bets in just the past several months.