Macau users will receive custom alerts during Binance withdrawals.
Key Takeaways
- Binance integrates anti-fraud alerts to protect users from scams.
- Customized scam warnings are now issued to Macau users withdrawing assets from Binance.
Binance and the Macau Judiciary Police have joined forces to combat the rising threat of online scams, particularly targeting crypto users. According to a statement shared on Tuesday, the two entities have launched a joint campaign to increase 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 alerts, the alerts will provide practical tips and contact information for local law enforcement, encouraging users to pause and assess the risks of each transaction, Binance stated.
“Judicial Police is committed to combating financial crimes,” said a representative from the Judiciary Police of Macau. “By working with stakeholders like Binance, we look forward to helping the public to enhance their ability to identify and respond to potential risks in their daily lives.”
Binance has a history of collaborating with law enforcement agencies worldwide, including training Macau officers in crypto investigations and a successful program in Hong Kong.
The firm said that 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 from Binance’s Financial Crimes Compliance (FCC) Unit.
“Previous experience of this campaign in other jurisdictions makes us confident that the collaboration with the Macau Judiciary Police will contribute to enhancing users’ vigilance and thus effectively preventing crime and protecting users’ assets,” he noted.
In May, Binance’s FCC team collaborated with Taiwan authorities to dismantle a $6.2 million money laundering scheme involving virtual assets.
The firm has recently resumed its operations in India after reaching a $2.25 million settlement with India’s Financial Intelligence Unit.