Global crypto exchange Binance has embarked on a strategic partnership with the Macau Judiciary Police to combat the rising rate of online scams, particularly in the crypto landscape. In its Tuesday Twitter post, the crypto exchange said the partnership will birth a robust anti-scam campaign to sensitize users about the various techniques employed by bad actors.
In essence, both parties aim to actualize two goals with the campaign. The first one is raising fraud alertness levels of users so that they can easily spot potential scams right from the start. The second goal is geared toward ensuring the full protection of these individuals from the illicit trend.
As part of its role in the partnership, Binance will incorporate industry-standard anti-fraud alerts into its system. These alerts, as revealed, will specifically target its Macau-based users and will keep the Judiciary Police abreast of any suspicious withdrawal activities. Moreover, Binance also plans to provide practical tips that can help users report vital information to the local law enforcement agency. With these strategic efforts, users can come to terms with the risks of every transaction before initiating them.
According to the Judiciary Police, its commitment to fighting financial crime remains unflinching. In a statement by its spokesperson, the agency hinted that its collaboration with relevant stakeholders, including Binance will help members of the public to respond to potential risks in their daily endeavors.
Binance collaborating with law enforcement agencies to fight rising financial crimes
Over the years, Binance has built a strong relationship with law enforcement agencies across the globe to fight cybercrime. Last May, the exchange also collaborated with the Taiwan authorities to halt a $6.2 million money laundering scheme.
With its latest partnership with the Macau authorities, Binance demonstrates its ambition to strengthen financial crime prevention through education and cooperation with law enforcement agencies.
The exchange’s financial crime compliance officer, Carlos Mak says Binance’s major goal is protecting users. Mak added that previous experience of this campaign in other regions motivated the decision to also reach out to the Macau authorities. With that, Mak believes Binance can contribute to enhancing users vigilance and safety in the region.
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