Main Takeaways
Binance and the Macau Judiciary Police have partnered to launch a joint anti-scam campaign to increase risk awareness and reduce the risk of fraud in the digital space.
Macau users will receive tailored anti-scam messages from Judiciary Police when withdrawing assets from Binance, reminding users to stay vigilant.
Binance is committed to working with law enforcement agencies globally. Previously, Binance and the Macau Judiciary Police cooperated to strengthen Macau officersâ crypto investigation skills with an offline training course.
Committed to collaboratively advancing the crypto ecosystemâs security, Binance is working closely with law enforcement agencies around the globe in combating and deterring financial crime. As part of these efforts, we have partnered with the Judiciary Police of Macau to launch a joint anti-scam campaign, aiming to enhance usersâ awareness of online fraud and reduce their risks of being scammed by building tailored anti-fraud alerts into our system.
An Anti-Fraud Safety Net
According to the Judiciary Police, telecom and online fraud caused losses of more than 310 million patacas (approximately $38.6 million) last year, with telephone and investment fraud being the predominant crimes contributing to this number. To protect users from such threats, Binance has partnered with the Judiciary Police to build an anti-fraud safety net.
With this mechanism, when Macau users withdraw their assets from Binance, the system will pop up the anti-scam warning notification tailored by the Judiciary Police, providing users with practical tips and contact information of local law enforcement agencies. Thanks to this feature, users will be prompted to stop and thoroughly reassess the risks associated with each transaction, thereby reducing the chance of being scammed.
The representative of the Judiciary Police of Macau commented: âJudicial Police is committed to combating financial crimes. As part of this work, fraud prevention is the fundamental task for us, and thus by working with stakeholders like Binance, we look forward to helping the public to enhance their ability to identify and respond to potential risks in their daily lives.â
Extending a Successful Initiative
Following the success of a similar initiative in Hong Kong, we are proud to cooperate with the Macau authorities to extend the program to another jurisdiction. The campaign will start as a month-long trial.
Carlos Mak from Binance's Financial Crimes Compliance Unit said: âBinance's primary goal is always to protect users. Previous experience of this campaign in other jurisdictions makes us confident that the collaboration with the Macau Judiciary Police will contribute to enhancing users' vigilance and thus effectively preventing crime and protecting users' assets.â
As part of our efforts to protect users and deter crime, Binance also aims to expand this program to other regions and continue to deepen cooperation with law enforcement agencies worldwide in different aspects of fighting against cybercrime. Previously, Binance was also invited by the Macau Judiciary Police to hold its first offline law enforcement training course.