A man has been arrested in Taipei on suspicion of fraud and money laundering using bitcoin ATMs, the Criminal Investigation Bureau (CIB) said.
CIB Telecommunications Investigation Corp Deputy Captain Yu Wen-sheng (游文勝) on Thursday said that the investigation began after a person called the 165 anti-fraud hotline to inform the bureau that they had been defrauded when transferring bitcoin through a specialized ATM on Zhongxiao E Road Sec 4 in Taipei.
Investigators found that the ATM had been installed by a 42-year-old man surnamed Chuang (莊) who has a criminal record including fraud, Yu said, adding that fraud groups often use bitcoin ATMs to launder money.
Photo: AP
Chuang allegedly founded a company to import bitcoin ATMs from a foreign manufacturer and installed several of them in business areas in Taipei, the bureau said.
However, he did not report his business to the Financial Supervisory Commission, as required by the Money Laundering Control Act (洗錢防制法), the bureau said.
The manufacturer told investigators that the ATMs usually come with a feature to verify the identity of people making transactions, but the feature was disabled upon Chuang’s request, it said.
The bureau said groups that defraud people via bitcoin ATMs usually immediately transfer the money to another wallet or change it to another cryptocurrency.
Chuang allegedly took a 6 percent fee for transactions through his ATMs without informing users beforehand, the bureau said, adding that it had identified six people who have this year fallen victim to his scheme.
Chuang allegedly also promoted his business in chatrooms that are frequently used by fraud groups, it said.
When arresting Chuang, police also seized five of his machines and more than NT$2.38 million (US$74,645 million) in cash, the bureau said.
The Taipei District Prosecutors’ Office is investigating Chuang on suspicion of breaching the money laundering act, it added
In March, the central bank warned people about cryptoasset fraud involving bitcoin ATMs, saying that such schemes have become a major type of investment fraud in Taiwan.
Aftershocks from a magnitude 6.2 earthquake that struck off Yilan County at 3:45pm yesterday could reach a magnitude of 5 to 5.5, the Central Weather Administration (CWA) said. Seismological Center technical officer Chiu Chun-ta (邱俊達) told a news conference that the epicenter of the temblor was more than 100km from Taiwan. Although predicted to measure between magnitude 5 and 5.5, the aftershocks would reach an intensity of 1 on Taiwan’s 7-tier scale, which gauges the actual effect of an earthquake, he said. The earthquake lasted longer in Taipei because the city is in a basin, he said. The quake’s epicenter was about 128.9km east-southeast
GENSLER SURVEY: ‘Economic infrastructure is not enough. A city needs to inspire pride, offer moments of joy and foster a sense of belonging,’ the company said Taipei was named the city with the “highest staying power” in the world by US-based design and architecture firm Gensler. The Taiwanese capital earned the top spot among 65 cities across six continents with 64 percent of Taipei respondents in a survey of 33,000 people saying they wanted to stay in the city. Rounding out the top five were Vietnam’s Ho Chi Minh City (61 percent), Singapore (59 percent), Sydney (58 percent) and Berlin (51 percent). Sixth to 10th place went to Monterrey, Mexico; Munich, Germany; Sao Paulo, Brazil; Vancouver; and Seoul. Cities in the US were ranked separately, with Minneapolis first at
The Japan-Taiwan Exchange Association has cautioned Japanese travelers to be vigilant against pickpockets at several popular tourist spots in Taiwan, including Taipei’s night markets, the Yongkang Street area, Zhongshan MRT Station, and Jiufen (九份) in New Taipei City. The advisory, titled “Recent Development of Concerns,” was posted on the association’s Web site under its safety and emergency report section. It urges travelers to keep backpacks fully zipped and carried in front, with valuables placed at the bottom of the bag. Visitors are advised to be especially mindful of their belongings when taking photos or speaking on the phone, avoid storing wallets and
The New Taipei City Government today warned about the often-overlooked dangers of playing in water, and recommended safe swimming destinations to cool off from the summer heat. The following locations in the city as safe and fun for those looking to enjoy the water: Chienshuiwan (淺水灣), Baishawan (白沙灣), Jhongjiao Bay (中角灣), Fulong Beach Resort (福隆海水浴場) and Sansia District’s (三峽) Dabao River (大豹溪), New Taipei City Tourism and Travel Department Director-General Yang Tsung-min (楊宗珉) said. Outdoor bodies of water have variables outside of human control, such as changing currents, differing elevations and environmental hazards, all of which can lead to accidents, Yang said. Sudden
RSS