Binance has etched a new partnership with the Macau Judiciary Police to counter the rising threat of online scams, particularly crypto-related ones.
The partnership, shared in a recent Binance blog post, will see the duo launch an anti-scam campaign. This campaign is aimed at sensitizing users to the various techniques that online scam artists are currently employing. Essentially, the joint campaign seeks to achieve two things; raise the fraud alertness levels of users and ultimately protect them from these growing frauds.
Binance and Macau Police Clamp Down on Crypto Scams
To play its own part in the partnership, Binance will integrate anti-fraud alerts into its system. These alerts, specifically targeting Macau-based users, will be triggered and relayed to the Judiciary Police when users initiate a withdrawal.
Other than these alerts, Binance also says it will offer practical tips to users and make contact information for local law enforcement available to them. According to the platform, these efforts are geared toward encouraging users to take a breather to be absolutely sure of the risks of each transaction before deciding to take them.
Meanwhile, the Judiciary Police of Macau has once again seized the opportunity to remind the general public of its unwavering commitment to combating financial crimes. A statement from a spokesperson of the department reads:
“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.”
Wider Success Gives Hope
Binance’s recent collaboration with Macau Police is a reflection of its past antics toward combating crimes. The firm has partnered several law enforcement agencies worldwide and even played a prominent role in training Macau officers. That is, in the area of crypto investigations.
The company is keen to ensure that global financial crime is brought to the barest minimum. To protect users, it appears to have resolved to two main strategies, which are education and working with law enforcement.
Interestingly, having launched similar campaigns in the past, Binance is confident that the Macau partnership will also bear good fruits. This confidence was shared by Carlos Mak from Binance’s Financial Crimes Compliance (FCC) Unit, who said:
“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.”
One of those past efforts, would be recalled, was when Binance’s FCC team collaborated with Taiwan authorities in May to put an end to a $6.2 million money laundering scheme that was carried out using virtual assets.
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