The Control Yuan earlier this month ordered the government to more actively combat investment fraud, after its investigation found that more than NT$670 million (US$21.5 million) had been lost in the first half of this year alone.
In a report released on Tuesday last week, Control Yuan members Tsai Chung-yi (蔡崇義), Lai Ting-ming (賴鼎銘) and Yeh Ta-hua (葉大華) found cases of telecommunication fraud to have risen since the COVID-19 pandemic, with no sign of abating.
Although data from 2019 to last year show that crime in general has fallen, investment scams more than tripled in the period, the report said.
Photo: Hsieh Chun-lin, Taipei Times
National Police Agency data show 2,550 reports of investment fraud between January and July last year, with losses totaling almost NT$900 million, doubling the amount from the same period the previous year, the report said.
Most were through fake Line or Telegram accounts promising “guaranteed returns” from “leading stocks” or “brokerage recommendations,” they said.
In the first half of this year, police investigated 1,066 cases with total losses of NT$673.82 million, already more than half the total from all of last year, it said.
In addition to its work managing markets, the Financial Supervisory Commission is responsible for handling disruptive behavior such as investment scams, the report said.
In the first six months of this year, there were 136 investigations into illegal securities investment consulting, already exceeding the 105 cases accepted in the whole of last year, it said.
The report recommended that the commission take more active countermeasures, such as carrying out preliminary investigations for law enforcement.
Investment scams are often run by experienced crime rings, it said, adding that their use of cryptocurrencies makes it difficult to trace and seize stolen funds.
The commission is quoted in the report as saying that such illegal activity affects the rights and interests of legitimate traders.
The commission therefore coordinates among other agencies and countries to ensure market stability, while also educating the public about scams and monitoring the market, the report said.
The Control Yuan members also called on the Cabinet to implement its “Next-generation Anti-fraud Action Plan” approved in July to prevent the situation from worsening.
Palauan President Surangel Whipps Jr arrived in Taiwan last night to kick off his first visit to the country since beginning his second term earlier this year. After arriving at Taoyuan International Airport at around 6:30 pm, Whipps and his delegation were welcomed by Minister of Foreign Affairs Lin Chia-lung (林佳龍). Speaking to gathered media, the Palauan leader said he was excited and honored to be back in Taiwan on his first state visit to Taiwan since he was sworn in this January. Among those traveling with Whipps is Minister of State Gustav N. Aitaro, Public Infrastructure
President William Lai (賴清德) yesterday thanked Palau for its continued support of Taiwan's international participation, as Taipei was once again excluded from the World Health Assembly (WHA) currently taking place in Switzerland. "Palau has never stopped voicing support for Taiwan" in the UN General Assembly, the WHO and other UN-affiliated agencies, Lai said during a bilateral meeting with visiting Palau President Surangel Whipps Jr. "We have been profoundly touched by these endorsements," Lai said, praising the Pacific island nation's firm support as "courageous." Lai's remarks came as Taiwan was excluded for the ninth consecutive year from the WHA, which is being held in
RESOLUTIONS DEBATE: Taiwan’s allies said that UN and WHA resolutions cited by China and other nations ‘do not determine Taiwan’s participation in WHO activities’ A proposal to invite Taiwan to this year’s World Health Assembly (WHA) was rejected on Monday, resulting in Taipei’s absence from the annual meeting for a ninth consecutive year, although partners spoke up for Taiwan’s participation at the first day of the meeting. The first agenda item after the opening was a “two-on-two debate” on a proposal to invite Taiwan to participate at the WHA as an observer. Similar to previous years, two countries made statements in favor of the proposal, while two others expressed their opposition. Philippine Secretary of Health Teodoro Herbosa, president of the 78th WHA, accepted the WHA General Committee’s
At least three people died and more than a dozen were injured yesterday afternoon when a vehicle struck a group of pedestrians in New Taipei City’s Sansia District (三峽). The incident happened at about 4pm when a car rammed into pedestrians at an intersection near Bei Da Elementary School. Witnesses said the sedan, being driven at a high speed, ran a red light, knocking scooters out of the way and hitting students crossing the road before careening into a median near the intersection of Guocheng and Guoguang streets. The incident resulted in three deaths and 13 injuries, including the driver, a 78-year-old man
RSS