Police authorities have found that the vast majority of online fraud cases and investment scams in Taiwan came from adverts on Facebook through the use of fake images of famous figures, according to the latest report by the Criminal Investigation Bureau (CIB).
Bureau officials set up a dedicated unit to monitor online fraud, and sought the removal of about 50,000 adverts relating to fraud and investment scams on social media platforms in the second half of last year, with 46,000, or more than 90 percent, of the fraud cases found on Facebook.
The report said it requested the removal of adverts online that impersonated well-known figures, such as business leaders, stock market experts, celebrities and politicians, endorsing “profit-making” schemes.
Photo: Screen grab from the Criminal Investigation Bureau’s Facebook page
The CIB criticized Facebook and its parent company, Meta, saying that many of the removed online advertisements later
reappeared and continued to circulate online, adding that the “media platform failed to take appropriate action.”
CIB officials said they have been working closely with the Financial Supervisory Commission (FSC) on online scams and fraud cases since the Securities Investment Trust and Consulting Act (證券投資信託及顧問法) came into effect in June last year.
Data from the report showed that in the six-month period from June last year to the end of
December last year, the CIB had requested social media companies to take down about 50,000 online investment adverts, and that most of them, about 81 percent, had
impersonated famous Taiwanese stock market experts and financial advisers. Second was the impersonation of business and industry leaders at 9.4 percent, followed by fake promotions featuring Internet celebrities and politicians.
“To stop the investment scams and fraud, social media platforms must honor their social responsibility,” the report said, adding that the platforms “should take active efforts to remove the illegal adverts, instead of waiting for requests for removal by police authorities. Both sides must work together to combat the scammers.”
Officials are planning to issue regular public warnings on investment scam adversts on all social media platforms, providing examples of fraudulent messages content to help the public discern them and reduce the likelihood of falling victim to fraud ring operators, the report said.
The report said that people who encounter what seems like a fraudulent advertisement, such as invitations to join Line groups to recieve inside information from celebrities, financial experts or politicians, or touting lucrative investment opportunities, should call the 165 anti-fraud hotline and report the activities.
The Central Weather Administration (CWA) today issued a "tsunami watch" alert after a magnitude 8.7 earthquake struck off the Kamchatka Peninsula in northeastern Russia earlier in the morning. The quake struck off the east coast of the Kamchatka Peninsula at 7:25am (Taiwan time) at a depth of about 19km, the CWA said, citing figures from the Pacific Tsunami Warning Center. The CWA's Seismological Center said preliminary assessments indicate that a tsunami could reach Taiwan's coastal areas by 1:18pm today. The CWA urged residents along the coast to stay alert and take necessary precautions as waves as high as 1m could hit the southeastern
The National Museum of Taiwan Literature is next month to hold an exhibition in Osaka, Japan, showcasing the rich and unique history of Taiwanese folklore and literature. The exhibition, which is to run from Aug. 10 to Aug. 20 at the city’s Central Public Hall, is part of the “We Taiwan” at Expo 2025 series, highlighting Taiwan’s cultural ties with the international community, National Museum of Taiwan Literature director Chen Ying-fang (陳瑩芳) said. Folklore and literature, among Taiwan’s richest cultural heritages, naturally deserve a central place in the global dialogue, Chen said. Taiwan’s folklore would be immediately apparent at the entrance of the
Speeding and badly maintained roads were the main causes of a school bus accident on a rainy day in Taipei last year that severely injured two people and left 22 with minor injuries, the Taiwan Transportation and Safety Board said. On March 11 last year, a Kang Chiao International School bus overturned inside the Wenshan Tunnel (文山隧道) on the northbound lane of the Xinyi Expressway. The tour bus, owned by Long Lai Co, exceeded the speed limit after entering the tunnel, the board’s investigation found. Sensing that the rear of the vehicle was swaying, the driver attempted to use the service and exhaust
Central and southern Taiwan are to see increasingly heavy rainfall from last night through Friday due to the effects of a low-pressure system and southwesterly winds, the Central Weather Administration (CWA) said. CWA forecaster Liu Pei-teng (劉沛滕) said Tropical Storm Co-May had weakened into a low-pressure system on Saturday, but that it strengthened again into a tropical depression (TD 11) near the seas around Japan's Ryukyu Islands due to favorable environmental conditions. The tropical depression is expected to persist for two to three days, moving west-northwest by this afternoon and reaching China's Zhejiang through the East China Sea tomorrow,
RSS