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 leveraged its influence and invested significant resources in the past year while collaborating with law enforcement personnel from various countries to combat criminals. In 2024, the Binance Financial Intelligence Unit responded to requests from Taiwanese law enforcement agencies with a 16% increase 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 law enforcement personnel's knowledge and skills related to virtual assets.
Binance is committed to cooperating with global law enforcement agencies, hoping to bring criminals to justice and create a safe and trustworthy ecosystem for the global cryptocurrency community. Their methods include responding to requests from law enforcement agencies worldwide with the fastest response time in the industry. For the most serious illegal activities, Binance will also provide project investigation assistance. On the other hand, to bridge the knowledge gap brought by rapid technological development, Binance actively holds law enforcement training courses to provide global law enforcement personnel with the necessary knowledge and skills for 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 personnel. Among them, the increase in case responses to Taiwan also highlights the resources Binance has invested in Taiwan and its firm commitment to safeguarding the community. In addition, Binance successfully collaborated with Taiwanese law enforcement to return the illegal assets of suspects to the designated wallet address of the "Virtual Asset Regulation Platform for Prosecutorial Agencies" established by the Ministry of Justice, setting a precedent as the first case for an international exchange in Taiwan.
At the same time, an expert team composed of numerous 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 teaching and exchanges for various units such as district prosecutors' offices, investigation bureaus, and the Ministry of National Defense across the country, accumulating 20 sessions in the past two years, with a total participation of over 2,000 law enforcement personnel, receiving high praise from law enforcement officials.
Binance Asia-Pacific regional team representative He Hsuan-jung stated: "With the robust development of virtual assets, the derived social issues have become topics that the public and private sectors must actively face together."
We believe that the strong resources Binance has in combating financial crime, including dedicated teams and robust risk control systems, can help Taiwan connect internationally and build a safer crypto-financial environment. We also look forward to continuing to deepen our cooperation with Taiwanese government departments in the future to keep criminals out of the Web3 ecosystem.
Binance always puts users first. According to statistics, in 2024, Binance globally prevented potential user losses from fraud amounting to $4.2 billion, protecting 2.8 million users from malicious actors. In addition, it also assisted in recovering and freezing up to $88 million in stolen assets.
At the same time, to prevent fraud, Binance also takes proactive measures to remind users of potential risks. Last year, Binance proactively called potential victims 30,000 times, and the average daily personalized warning messages sent to users reached 15,000; if fraud unfortunately occurs, Binance will quickly assist victims in asset recovery, with Binance averaging successfully helping users recover 800 cases of fraud losses 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 (Blockke).