Key points
- Binance integrates anti-fraud alerts to protect users from scams.
- Custom scam warnings are now issued to Macau users withdrawing assets from Binance.
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Binance and the Macau Judicial Police have joined forces to combat the growing threat of online scams, especially targeting cryptocurrency users. According to a statement shared on Tuesday, the two entities have launched a joint campaign to raise awareness about online fraud and protect users from scams.
Binance said it will integrate anti-fraud alerts into its system, specifically targeting Macau users. These alerts will be customized by the Judicial Police and will appear when users initiate a withdrawal.
In addition to anti-fraud alerts, Binance will provide practical tips and contact information for local law enforcement, encouraging users to pause and assess the risks of each transaction, Binance said.
“The Macau Judicial Police is committed to combating financial crimes,” said a representative of the Macau Judicial Police. “By working with stakeholders like Binance, we hope to help the public improve their ability to identify and respond to potential risks in their daily lives.”
Binance has a history of collaborating with law enforcement agencies around the world, including training Macau officers in cryptocurrency investigations and a successful program in Hong Kong.
The firm said the partnership builds on Binance's ongoing efforts to strengthen global financial crime prevention through education and cooperation with law enforcement.
“Binance’s primary goal is always to protect users,” said Carlos Mak of Binance’s Financial Crimes Enforcement Unit (FCC).
“Our previous experience with this campaign in other jurisdictions gives us confidence that the collaboration with the Macau Judicial Police will contribute to improving user surveillance and thus effectively prevent crime and protect users’ assets,” he said.
In May, Binance's FCC team collaborated with Taiwanese authorities to Dismantling a $6.2 million money laundering scheme involving virtual assets.
The firm has recently resumed operations in India after reaching a $2.25 million settlement with India's Financial Intelligence Unit.
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