Police said on Friday 139 people have been arrested on suspicion of money laundering and obtaining property by deception, with losses to victims amounting to more than HK$130 million.

Officers said the suspects, aged between 19 and 73, provided syndicates with stooge accounts.

The suspects were said to be involved in phone, investment and online scams.

Senior inspector Wong Yuen-yan said the Kowloon West saw about 1,700 scams in the first quarter, 10 percent more than in the same period of last year.

She said the police will continue to crack down on syndicates and stooge account holders.