TAIPEI (TVBS News) — Authorities in Taiwan have launched a groundbreaking operation to recover fraudulent funds, returning over NT$11 million (around US$339,582) to 32 victims across 10 counties. The Criminal Investigation Bureau (刑事警察局) collaborated with virtual currency operators under a new anti-fraud law enacted on Nov. 29. This initiative marks the first instance in Taiwan where exchanges directly refunded victims without judicial procedures.
Rufus Lin (林建隆), director of the bureau's Technology Crime Prevention Center, explained on Wednesday (Jan. 22) that the Legislative Yuan approved the "Fraud Crime Prevention Act" (詐欺犯罪危害防制條例) on July 12, 2024, and the president promulgated it on July 31. The bureau then partnered with virtual currency operators to establish a joint defense reporting mechanism. They traced the victims' identities from the fraudulent fund sources, enabling local police to notify victims, who then received their funds back through the exchanges.
Lin highlighted that this is the first wave of action, with NT$11 million already returned to victims this week. Some victims have completed the necessary procedures and retrieved their funds, with the highest return amounting to NT$1.09 million (US$33,256). The bureau plans additional recovery waves, ensuring more victims will see their funds restored.
One victim, Mr. W, recounted losing NT$3-4 million (around US$91,531-122,042) to a scam but expressed joy at recovering over NT$800,000 (US$24,408). The bureau urges victims to prepare the necessary documents to facilitate refunds and advises prompt reporting of fraud incidents to aid in tracing illegal fund flows.