The world’s largest cryptocurrency exchange, Binance, is expanding an anti-scam campaign to the world’s largest casino hub, Macau.
According to a notice on the company’s blog, Binance is partnering with Macau’s Judiciary Police (PJ) in a ‘joint anti-scam campaign to increase risk awareness and reduce the risk of fraud in the digital space’.
This includes an ‘anti-scam warning notification tailored by the Judiciary Police, providing users with practical tips and contact information of local law enforcement agencies’.
The group notes that this feature will mean that users are ‘prompted to stop and thoroughly reassess the risks associated with each transaction, thereby reducing the chance of being scammed’.
Binance is available in Macau, despite authorities still working out their exact stance on cryptocurrencies. Owning or trading cryptocurrencies in Macau is not illegal, as they are not defined as financial instruments.
The joint scheme follows a similar operation in Hong Kong and will ‘start as a month-long trial’.
The group notes that it also plans to ‘expand this program to other regions and continue to deepen cooperation with law enforcement agencies worldwide in different aspects of fighting against cybercrime’.
Binance had previously also been invited by Macau’s Judiciary Police in June to hold an ‘in-person law enforcement training course’, with over 40 representatives from the PJ’s Criminal Investigation Department and Gaming-related and Economic Crimes Investigation Department taking part.
Speaking of the new anti-fraud initiative, a PJ representative indicated that “fraud prevention is the fundamental task for us, and thus by working with stakeholders like Binance, we look forward to helping the public to enhance their ability to identify and respond to potential risks in their daily lives.”
