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Binance and Macau Police Team Up to Fight Online Scams
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Binance and Macau Police Team Up to Fight Online Scams

Key Points

  • Binance integrates anti-fraud warnings to protect users from scams.
  • Macau users who withdraw assets from Binance will now receive customized scam warnings.

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Binance and the Macau Judiciary Police have joined forces to combat the growing threat of online scams, which are particularly targeting crypto 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 users in Macau. These alerts will be tailored by the Judiciary Police and will appear when users initiate a withdrawal.

In addition to anti-fraud warnings, Binance will also provide practical tips and contact information for local law enforcement, encouraging users to think twice about each transaction and assess its risks, Binance said.

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

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

According to the company, the partnership builds on Binance’s ongoing efforts to strengthen global financial crime prevention through education and collaboration with law enforcement.

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

“Previous experiences with this campaign in other jurisdictions give us confidence that cooperation with the Macau Judicial Police will contribute to increasing users’ vigilance and thus effectively preventing crime and protecting users’ assets,” he noted.

In May, Binance’s FCC team worked with Taiwanese authorities to bust a $6.2 million money laundering operation 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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