In the city’s biggest recorded phone scam a 90-year-old Hong Kong woman has been conned out of $32million (Dh117 million) by fraudsters posing as officials, police said. Elderly in Hong Kong are plagued by phone scammers who seek out vulnerable and wealthy victims willing to transfer money or make bogus investments. Scammers targeted an elderly woman living in a mansion on The Peak, Hong Kong’s ritziest neighborhood. They claimed her identity had been used in a serious criminal case in mainland China. She was told she needed to transfer money from her bank account into ones held by the investigation team for safekeeping and scrutiny, the South China Morning Post reported, citing police sources.