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HK regulator orders 10 brokers to freeze client accounts linked to social media scam

The SFC has issued restriction notices to 10 brokers to freeze client accounts linked to a suspected social media ramp-and-dump scam.

Thirteen suspects were charged following a joint operation of the SFC and the Hong Kong Police against a ramp-and-dump syndicate.

A total of 13 Hong Kong brokers will have to freeze client accounts linked to suspected social media ramp-and-dump scam.

SFC issues restriction notices to two brokers to freeze client accounts linked to suspected social media ramp-and-dump scam.