Police on Friday said a syndicate suspected of using fake IDs to impersonate victims and withdraw money from their eMPF accounts had been busted.

Five men, aged between 28 and 65, were arrested on suspicion of conspiracy to defraud and money laundering.

They included the alleged mastermind and two core members.

Chief inspector Lee Chun-man of the cyber security and technology crime bureau said the group stole the personal information of three victims to create eMPF accounts on their behalf and withdrew around HK$1.8 million in total.

“[The alleged masterminds and core members ] played five critical parts in the case,” he said.

“The first one was planning the details of the fraud. The second was recruiting and arranging for stooges to impersonate victims to open eMPF accounts and bank accounts to receive the funds.

“The third was about controlling victims' eMPF accounts to withdraw funds. Fourth was recruiting account holders to help launder money. And last came withdrawing the funds through the accounts.”

Lee said the suspects had tried to use the same modus operandi with the personal information of nine others, but were unsuccessful.

The force said it was still working to recover the stolen funds.

The eMPF platform company said it had suspended its eKYC digital registration system, which the suspects had exploited to create the accounts.

The eKYC process typically involves users scanning or taking pictures of their identification documents on a smart device, followed by facial verification to confirm their identity.

“The eMPF company is also exploring other accessibility identity verification that can replace the eKYC and will announce relevant arrangements as soon as practical,” said general manager Eric Kwok.

He added the platform has reimbursed the victims.