Police said on Sunday they received over 700 reports from people saying their credit card details have been stolen and used to buy smartphones, involving a total of nearly HK$15 million.

There's been a flurry of posts on social media from people in Hong Kong saying their cards have been used to buy the new iPhone during a pre-order launch.

Police say cases reported to them involve a total of HK$14.7 million, with one of them alone amounting to HK$114,000.

Officers say they are treating the matter as obtaining property by deception, with no arrests so far.

Major banks have also launched investigations, with HSBC and Standard Chartered both saying they will help affected customers reverse the transactions.


Edited by Aaron Tam