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Survey urges action over daily NT$270M fraud losses in Taiwan

  • 23 January, 2025
  • Joey Chou
Survey urges action over daily NT$270M fraud losses in Taiwan
NPP held a press conference to present the findings of their latest survey reviewing the government’s anti-fraud policies. (Photo: NPP YouTube)

As fraud cases continue to escalate as a public security issue in Taiwan, the New Power Party (NPP) held a press conference on Thursday to present the findings of their latest survey. The survey sampled 1,092 respondents, revealing that over half believe the government’s anti-fraud policies have not demonstrated significant effectiveness.

Citing data from the National Police Agency, NPP Chairperson Claire Wang (王婉諭) noted that Taiwan receives an average of over 600 fraud reports daily, with annual financial losses amounting to NT$140 billion (US$4.3 billion). Investment fraud accounts for over 60% of these cases, resulting in daily losses exceeding NT$270 million (US$8.4 million), highlighting the severity of the problem.

NPP Deputy Secretary-General Lin Yi-hsuan (林邑軒) emphasized that nearly 60% of respondents expressed satisfaction with government policies advocating for financial account regulation, transaction monitoring, and enhanced public education on anti-fraud awareness. However, over half of respondents remained dissatisfied with the government’s efforts in crime investigation and victim protection, with 83% urging the Financial Supervisory Commission (FSC) to enhance virtual currency regulations.

Professor Tai Shen-feng (戴伸峰) of National Chung Cheng University’s Department of Criminology stressed the importance of ending the stigma around fraud victims, often labeled as “greedy” or “foolish.” He argued that such blame discourages victims from seeking help, ultimately undermining fraud prevention efforts.

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