A 64-year woman was robbed of HK$610,000 (US$78,660) by four men who followed her to a bank.
About HK$540,000 was later recovered by the police when one of the suspects returned to the scene of the crime. The man was arrested.
The others made off with about HK$70,000 and are being sought by the authorities, Sing Tao Daily reports.
Investigators said the suspects followed the woman, surnamed Ng, to the Wing Lung Bank Center in Mong Kok where she had withdrawn the money around 5 p.m.
The money — US$70,000 and HK$70,000 – was wrapped in plastic and stuffed in a recycling bag.
One of the men accosted Ng after she left the bank and entered a mall while the others acted as lookouts.
Sensing danger, Ng hurried up the corridor only to be stopped by the four.
They grabbed her bag. Ng shouted for help at which time a security guard approached her to help and called the police, news website hk01 reports.
One of the suspects apparently lost his way and ended up at the scene and was arrested still holding the bag.
Police found US$70,000 inside but the other HK$70,000 was missing.
They are looking for the three other suspects with the help of footage from a CCTV camera.
Mong Kok Bank Center at 636 Nathan Road is a densely populated area and a busy commercial district. It is near an MTR exit.
Robberies have been reported recently in the area including one in which the victim was an elderly man who was divested of HK$10,000 inside a lift in Lei Tung Estate.
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