Fake investment scams cost nearly NT$100 million in Taiwan's Fengyuan district

Fengyuan police in Taiwan's Taichung City reported that fake investment scams resulted in nearly NT$100 million (US$3.1 million) in financial losses across the district between January and April. Police Chief Xie Jianguo highlighted these scams as the most financially devastating type of fraud encountered.

During an interview on a local radio program, Xie explained that fraudsters continuously update their methods. Police analyze cases and statistics to identify prevalent scam types and enhance public awareness campaigns. The top three most frequently encountered scams are online shopping fraud, fake investment schemes, and romance scams that lead to financial loss.

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In recent years, scam methods have continuously been updated. Police, through case analysis and data statistics, have targeted 'high-incidence scam types' to strengthen publicity.

From January to April, Fengyuan police handled 106 online shopping scam cases, causing NT$7.05 million in losses. Fake investment scams led to 42 cases and NT$95.43 million in losses, while romance scams associated with investment fraud accounted for 24 cases and NT$59.29 million in losses. Online shopping scams, being the most common, often involve tactics such as "real-name verification," "financial verification," "party mode," "cardless withdrawal," and "TWQR scan codes."

To combat romance and investment scams, police advise the public to follow three key principles: "Do not click on suspicious links, do not conduct private transactions via direct messages, and do not engage in any financial exchanges before meeting in person." Xie urged the public to remain calm and verify any requests involving clicking links, operating online banking, or making transfers. For further assistance, citizens can contact the anti-fraud hotline at 165 or report to 110.

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Do not click on suspicious links, do not conduct private transactions via direct messages, and do not engage in any financial exchanges before meeting in person.