Binance is committed to enhancing the security of the crypto ecosystem by working closely with law enforcement agencies worldwide to combat and deter financial crime. As part of this commitment, Binance has partnered with the Judiciary Police of Macau to launch a joint anti-scam campaign designed to increase user awareness of online fraud and reduce the risk of scams through tailored anti-fraud alerts integrated into its system.

An Anti-Fraud Safety Net

According to the Judiciary Police, telecom and online fraud resulted in losses exceeding 310 million patacas (approximately $38.6 million) last year, with telephone and investment fraud being the most prevalent. To address these threats, Binance and the Judiciary Police have developed an anti-fraud safety net for Macau users.

This new feature will activate an anti-scam warning notification when users withdraw assets from Binance, providing practical tips and contact information for local law enforcement agencies. This proactive measure aims to prompt users to reassess transaction risks and reduce the likelihood of falling victim to scams.

A representative from the Judiciary Police of Macau stated: “The Judiciary Police is dedicated to combating financial crimes, with fraud prevention being a fundamental aspect of our efforts. By collaborating with stakeholders such as Binance, we aim to enhance public awareness and empower individuals to recognize and respond to potential risks in their daily lives.”

Extending a Successful Initiative

Building on the success of a similar initiative in Hong Kong, Binance is excited to extend this program to Macau. The campaign will commence as a month-long trial.

Carlos Mak from Binance's Financial Crimes Compliance Unit remarked: “Binance's primary goal is to protect users. Our previous experience with this campaign in other regions gives us confidence that this collaboration with the Macau Judiciary Police will enhance user vigilance, effectively prevent crime, and safeguard users' assets.”

In its ongoing efforts to protect users and combat crime, Binance also plans to expand this program to additional regions and deepen its collaboration with law enforcement agencies globally to tackle cybercrime. Previously, Binance was invited by the Macau Judiciary Police to conduct its first offline law enforcement training course.