In recent years, financial crimes such as fraud have become one of the social issues of greatest concern to governments around the world. As the world's largest virtual asset exchange, Binance has actively exerted its influence and invested huge resources in the past year, and joined hands with law enforcement officials from various countries to fight criminals. In Taiwan, the number of cases in which the Financial Intelligence Unit responded to requests from Taiwan law enforcement agencies increased by 16% in 2024 compared with the previous year. Since 2022, it has increased for two consecutive years. At the same time, Binance also held or participated in a total of 10 virtual asset investigation training courses or symposiums in Taiwan to help improve law enforcement personnel’s knowledge and skills related to virtual assets.
Binance is committed to cooperating with law enforcement agencies around the world, hoping to bring criminals to justice and create a safe and trustworthy ecosystem for the global crypto community. Its actions include responding to requests from around the world with the fastest response speed in the industry. At the request of law enforcement agencies, Binance will also provide special investigation assistance for the most serious violations; on the other hand, in order to make up for the knowledge gap caused by the rapid development of technology, Binance is also actively organizing law enforcement training courses for the world. Law enforcement officers provide the necessary knowledge and skills for investigating virtual asset cases.
Looking back on 2024, Binance has responded to more than 64,800 law enforcement requests globally and provided services to more than 14,800 registered law enforcement officers. Among them, the increase in the number of cases responded to in Taiwan also demonstrates the resources Binance has invested in Taiwan and its firm commitment to protecting the community. In addition, Binance has successfully cooperated with Taiwan's law enforcement agencies to transfer the suspect's illegal assets back to the designated wallet address of the "Procuratorate's Seizure of Virtual Assets Supervision Platform" established by the Ministry of Justice, setting a first for an international exchange in Taiwan.
At the same time, an expert team composed of most of the former law enforcement elites also held a total of 100 virtual asset law enforcement training courses in various countries around the world last year; as for Taiwan, Binance has also actively provided services to the District Prosecutor’s Office, Bureau of Investigation, and Ministry of National Defense across Taiwan. We have conducted lectures and exchanges with different units, and the number has reached 20 in the past two years. The total number of law enforcement personnel participating has exceeded 2,000, and it has been widely praised by law enforcement personnel. He Xuanrong, representative of Binance’s Asia Pacific team, said, “With the booming development of virtual assets, the social issues derived from them have become issues that must be actively faced by the public and private sectors. We believe that Binance has powerful resources to combat financial crimes, including A dedicated team and a robust risk control system can help Taiwan connect with the world and build a safer crypto-financial environment. We also look forward to continuing to deepen cooperation with Taiwan government departments in the future to prevent criminals from entering the Web3 ecosystem. outside."
Binance always puts users first. According to statistics, in 2024, Binance avoided $4.2 billion in potential user losses from fraud globally and protected 2.8 million users from malicious actors. In addition, it also assisted in the recovery and freezing of US$88 million in stolen assets. At the same time, in order to prevent fraud, Binance has also taken proactive measures to remind users of possible risks. Last year, Binance proactively called potential victims 30,000 times, and sent an average of 15,000 personalized warning messages to users every day; if fraud unfortunately occurs, Binance will quickly assist victims in asset recovery. In 2024, Binance The average number of cases in which we successfully assist users in recovering fraud losses per month is 800.
This article 2024 Review: How Binance Assists Global and Taiwanese Law Enforcement Agencies in Fighting Financial Crime first appeared on Chain News ABMedia.
