HONG KONG: Hong Kong businessman Marcus Wong says he's already run into cash flow problems, within days after someone nearly cleaned out his HK$2.5 million account at a Shenzhen bank with a bogus bank card.

"My business has an operating cycle, which is normally a month," said Wong. "I have to make full payment to my materials suppliers and can only collect money from buyers who are normally abroad when they get the goods."

It still baffles Wong, how the HK$2.5 million could have been rifled from his mainland bank account through a POS machine at a jewelry shop at 4:44 am, October 14. The transaction took place in Macao where Wong hasn't set foot for nearly a year. His bank card had never left his possession.

"Unfortunately this bank account is the one I am doing business with," Wong said.

The businessman uses the account to purchase building materials and he's just ordered a new consignment.

"Some business partners tried to help me after hearing the story, because they know my integrity. Some did not. They said they would not ship the materials unless I pay cash, which I did not normally need do in the past. I know they were uncertain that I was able to afford it any more," said Wong.

Wong still hopes he can get his money back. He waits helplessly for word from police that they have cracked the case. He fears an endless lawsuit with the bank. It's his money, he says. He thinks the bank should find a way to pay him back.

"I heard that this kind of incident is happening on the mainland every day. I could not figure out how those who only lost a small amount of money this way could protect their rights. If I only lose several thousands, I might probably just let it go because I don't see any possibility to retrieve them back," said Wong. "But I lost HK$2.5 million. They should at least take it more seriously."

Wong is frustrated. In the morning of October 14th, he received a text message notifying him that he had just expended 2.2 million yuan (HK$2.5 million). Wong called the card issuing bank, Jin Ye Branch of Shenzhen, Bank of Communication (BoCom), and asked them to hold his money, but they insisted on his going to the bank. When he arrived, they informed Wong he should report to the police himself since it was not the bank's mistake.

After Wong went to Nan Hu Police Station, a policeman told him after a simple inquiry the amount of money involved was too big for them to handle.

When Wong later reported his case to Luo Hu Public Security Bureau, a policeman there told him that he was not eligible to report the case since he didn't lose control of his bank card. The policeman said that the bank should be the one to report the matter.

After Wong went back to Jin Ye Branch, they told him only their higher-up Shenzhen Branch would do it. It was nearly closing time so he was asked to come another day.

The police still have not decided whether it is a case of fraud or theft and which department will handle it.

The Shenzhen Branch of BoCom has informed Wong that Unionpay, the credit card organization operating interbank transactions, had provided relevant documents of the expenditure: someone named "Li Jianhua" signed the receipt. His Exit-Entry Permit for Traveling to and from Hong Kong and Macao was photocopied for this transaction.

Wong's prospects for recovering his money look bleak. "The bank said unless the police caught the criminal, or it was so ordered by the court, they would not rebate my money, because they've transferred money to Unionpay and Unionpay had paid the jewelry shop," said Wong. The bank called Wong again on October 28, saying Unionpay refused to refund the money.

(HK Edition 10/30/2009 page1)