Key Takeaways

  • Binance has partnered with the Macau Judiciary Police to launch a joint anti-fraud campaign, aiming to raise users’ awareness of fraud prevention and reduce the risk of users being deceived in the crypto field.

  • When Macau users withdraw assets from Binance, they will receive localized anti-fraud information from the Judiciary Police, reminding users to remain vigilant.

  • Binance is committed to cooperating with law enforcement agencies around the world, including Macau. Previously, Binance was invited by the Judiciary Police to conduct its first offline law enforcement training course.

To combat illegal activities in the crypto ecosystem, Binance has long been committed to working closely with law enforcement agencies around the world to combat and deter crime. As one of the latest joint security initiatives with law enforcement agencies, we are pleased to announce a joint anti-fraud campaign with the Macau Judiciary Police, which aims to raise users’ awareness of fraud and reduce the risk of being scammed by establishing customized localized anti-fraud alert information within the Binance system.

Public and private sectors work together to build a fraud prevention safety net

According to information from the Macau Judiciary Police, telecommunications and Internet fraud cases caused economic losses of more than 310 million patacas (about 38.6 million U.S. dollars) last year, among which telephone and investment fraud were the most rampant. In order to prevent users from being exposed to such fraud risks, Binance has reached a cooperation with the Macau Judiciary Police, hoping to leverage the public-private synergy and build a network of anti-fraud safety nets.

Under this mechanism, when Macau users withdraw assets on the Binance platform, the system will pop up an anti-fraud warning message from the Macau Judiciary Police, and provide users with practical anti-fraud information, as well as the local law enforcement agency's anti-fraud hotline and reporting contact information. By adding this safety mechanism, it will help users to carefully re-evaluate whether there is a risk of fraud when conducting transactions, thereby reducing the chance of being deceived.

A representative of the Macau Judiciary Police said: “The Judiciary Police is committed to combating financial crime. Prevention is the only way to combat fraud. Through cooperation with Binance and other stakeholders, we look forward to helping the public identify and respond to potential risks in their daily lives.”

Protect users and continue successful experience

Binance’s Joint Anti-Fraud Program was first implemented in Hong Kong. Building on the success of the program, we are honored to further collaborate with Macau law enforcement agencies to extend the program to another jurisdiction. The program will be trialed for one month.

Carlos Mak, Binance Financial Crime Compliance Representative, said: “Binance’s primary goal has always been to protect our users. Our past experience with the program in other jurisdictions gives us confidence that this collaboration with the Macau Judiciary Police will also help raise awareness among our users, thereby effectively preventing crime and protecting the safety of their assets.”

As one of our initiatives to protect users and prevent crime, Binance also aims to expand this plan to more regions and continue to deepen cooperation with global law enforcement agencies in various aspects such as combating crime. Previously, Binance also held its first offline law enforcement training course at the invitation of the Macau Judiciary Police for the first time.

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