In recent years, financial crimes such as fraud have become one of the most concerning social issues for governments worldwide. As the largest virtual asset exchange globally, Binance has actively utilized its influence and invested significant resources over the past year, collaborating with law enforcement personnel in various countries to combat criminals. In 2024, Binance's Financial Intelligence Unit responded to requests from Taiwanese law enforcement agencies, with a 16% increase in the number of cases compared to the previous year, marking two consecutive years of growth since 2022. At the same time, Binance also held or participated in a total of 10 virtual asset investigation training courses and seminars in Taiwan to enhance the knowledge and skills of law enforcement personnel related to virtual assets.
Binance is committed to collaborating with global law enforcement agencies in hopes of bringing criminals to justice, creating a safe and trustworthy ecosystem for the global cryptocurrency community. The measures taken include responding to requests from law enforcement agencies worldwide at the industry's fastest reply speed, and for the most serious violations, Binance also provides project investigation assistance. Additionally, to bridge the knowledge gap caused by rapid technological development, Binance actively holds law enforcement training courses to provide necessary knowledge and skills for global law enforcement personnel in virtual asset case investigations.
Looking back at 2024, Binance responded to over 64,800 law enforcement requests globally, providing services to more than 14,800 registered law enforcement officers. The increase in the number of cases responded to in Taiwan also highlights the resources Binance has invested in Taiwan and its firm commitment to protecting the community. Furthermore, Binance successfully cooperated with Taiwanese law enforcement agencies to transfer the illegal assets of suspects back to the designated wallet address set up by the Ministry of Justice's 'Virtual Asset Seizure Regulatory Platform for Prosecutorial Agencies,' setting a precedent for international exchanges in Taiwan.
At the same time, an expert team composed of mostly former law enforcement elites held a total of 100 virtual asset law enforcement training courses worldwide last year. In Taiwan, Binance has also actively conducted lectures and exchanges for various units such as district prosecutor's offices, investigation bureaus, and the Ministry of National Defense across the country, achieving a total of 20 sessions over the past two years, with more than 2,000 participating law enforcement personnel, receiving high praise from law enforcement officers.
Binance's representative for the Asia-Pacific region, He Xuanrong, stated: "As virtual assets flourish, the resulting social issues are challenges that both public and private sectors must actively face together."
We believe that Binance's powerful resources in combating financial crime, including dedicated teams and robust risk control systems, can help Taiwan connect internationally and build a safer cryptocurrency financial environment. We also look forward to deepening our cooperation with Taiwan's government departments in the future to keep criminals out of the Web3 ecosystem.
Binance always puts its users first. According to statistics, in 2024, Binance prevented potential user losses from fraud amounting to $4.2 billion globally, protecting 2.8 million users from malicious actors. In addition, Binance assisted in recovering and freezing stolen assets amounting to $88 million.
At the same time, to prevent fraud, Binance also takes proactive measures to remind users of potential risks. Last year, Binance actively called potential victims 30,000 times, and the average number of personalized warning messages sent to users daily reached 15,000; if fraud unfortunately occurs, Binance will quickly assist victims in asset recovery, with an average of 800 successful cases of user fraud loss recovery per month in 2024.
(The above content is provided by Binance)
"2024 Review: How Binance Assists Global and Taiwanese Law Enforcement Agencies in Combating Financial Crime?" This article was first published on (Blockcast).