Police Bust New Investment Scam Ring
Police have busted an investment scam that took more than US$12 million from victims, arresting 27 suspects. It's one of thousands of similar schemes that have popped up this year alone.
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00:00After more than a year of stealing money from investors, it's game over for yet another fraud ring, this time 27 are arrested.
00:08It was a sophisticated operation. They posed as representatives of Japan's Nomura Securities and tricked potential investors into joining a chat group on popular messaging app Line.
00:18There, they'd be instructed to download a convincing but bogus app and place orders.
00:23From May to November last year, the group is said to have tricked 38 people out of around 12 million US dollars.
00:29The scammers took pains to create an air of legitimacy.
00:33As an anti-fraud organization explains, the chat group was filled with fake people, encouraging victims not to hold back with their money.
00:40A lot of people would show up in the chat group.
00:43In fact, they were all fake scammers.
00:46They'd say, how much money did you make from the teacher?
00:50And they'd lure people in.
00:53And as the police explain, there were a lot of legitimate-looking companies with accounts, easing any suspicions.
00:59The fraud group will ensure that the source of the account is stable.
01:04Through fake verification, or by asking the member to be in charge of the head of the head office,
01:10to open the head of the head office's account and assist in withdrawing the money,
01:14and to use soft surveillance to prevent members from escaping.
01:17Scams of all kinds have flourished in Taiwan in recent years.
01:21From January to May alone, over 6,000 similar fraud cases were reported to police.
01:25For companies like Nomura's joint venture in Taiwan, it's a matter of warning customers to be on the alert.
01:31Because despite successful police work, schemes like this one continue to pop up.
01:36Justin Wu and John Van Triest for Taiwan Plus.