Binance and Macau Police Work Together to Combat Online Fraud

Binance and the Macau Judiciary Police have joined forces to combat the growing threat of online fraud that particularly targets crypto users. According to a statement released on Tuesday, the two bodies have launched a joint campaign to raise awareness about online fraud and protect users from scams.

Binance said it will integrate fraud alerts into its system specifically aimed at users in Macau. These alerts will be customized by the criminal police and will appear when users initiate a withdrawal.

In addition to the scam alerts, Binance will provide practical tips and contact information for local law enforcement and encourage users to pause and weigh the risks of each transaction, Binance explained.

“The Criminal Investigation Department is committed to combating financial crimes,” said a representative of the Macau Criminal Investigation Department. “By working with stakeholders like Binance, we look forward to helping the public improve their ability to identify and respond to potential risks in their daily lives.”

Binance has a history of working with law enforcement agencies around the world, including training officials in Macau in crypto investigations and running a successful program in Hong Kong.

The company said the partnership builds on Binance's ongoing efforts to strengthen global financial crime prevention through education and collaboration with law enforcement.

“Binance’s primary goal is always to protect users,” said Carlos Mak of Binance’s Financial Crimes Compliance (FCC) Unit.

“Based on the experience of this campaign in other jurisdictions, we are confident that cooperation with the Macau Criminal Investigation Department will help increase user vigilance, thereby effectively preventing crime and protecting users' assets,” he noted.

In May, Binance's FCC team worked with Taiwanese authorities to uncover a $6.2 million money laundering scheme involving virtual assets.

The company recently resumed operations in India after reaching a $2.25 million settlement with India's Financial Intelligence Unit.

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