Taiwan Battles Investment Scams: Losses Exceed NT$600 Million in a Month

Authorities in Taoyuan Crack Down on Fraud, Arrest 26 Suspects in Investment Schemes

In an ongoing effort to combat fraud and protect citizens, law enforcement in Taiwan's Taoyuan City has intensified its fight against scams. Recent reports highlight a concerning trend: fraudulent investment schemes remain the leading type of deception plaguing residents.

According to data released today, police in Taoyuan received 1,246 reports of fraud in February alone, resulting in financial losses exceeding NT$638 million (approximately USD $20 million). Despite the significant losses, the number of reported cases saw a decrease of 310 and NT$342 million when compared with January.

During the first two months of the year, authorities successfully dismantled 55 fraud rings, apprehending 412 suspects. More than NT$36 million in illicit proceeds were seized, representing a substantial increase compared to the same period last year. The Taoyuan City Police Department is using a special dashboard and real-time land registry alerts to further prevent and combat fraud.