According to reports from (Public Television News Network), third-party payment service providers such as Hongyang Payment, Blue New Financial Flow, Green World Payment, Unified Financial Flow, and LINE PAY (from left to right) took a photo with officials from the Ministry of Digital Affairs, declaring a joint effort to combat emerging forged third-party platform scams. Since the new Threads platform has launched advertising features, nearly 1,900 reports of fraud involving Threads have been received from the end of September last year until now, with over 700 confirmed as fraud, and it was announced that Threads will be regulated according to the law. The Ministry of Digital Affairs also confirmed that Meta executives will visit Taiwan in July to discuss anti-fraud issues.

Latest Scam Tactics: Fake buyers deceive real sellers, third-party platforms form alliances to combat fraud

Reports indicate that a recent popular scam tactic is pretending to be a buyer to deceive a real seller. Lin Junxiu, Director of the Digital Industry Department of the Ministry of Digital Affairs, explained, 'If there is a problem, contact the customer service of the third-party payment, and then the customer service teaches me how to operate, and finally gives a verification code, which is actually the amount they want to deceive.'

As a countermeasure, third-party payment platforms and the Ministry of Digital Affairs formed an anti-fraud alliance. Liu Shiwei, General Manager of Green World Technology, stated: 'We have jointly developed a risk management system, from scanning new web pages and domains to website content, to what he said about third-party payment customer service, and to bank customer service communication, all of which are fake.'

Threads has received thousands of reports of fraud, and the Ministry of Digital Affairs announces regulation.

Since Threads started advertising in April, the Ministry of Digital Affairs has received nearly 1,900 reports of fraud involving Threads since the end of September last year, thus announcing that Threads will be regulated. The Ministry of Digital Affairs previously announced regulations for four companies across six platforms, including Google, YouTube, Line, Facebook, Instagram, and TikTok, and regulated entities must fulfill multiple anti-fraud responsibilities according to anti-fraud regulations.

The anti-fraud regulations have required regulated entities to verify the identity of advertisers, clients, and funding sources. This announcement's sub-legislation specifically regulates the technology for verifying identities and explicitly requires entities to formulate anti-fraud plans and regularly publish transparency reports to urge entities to implement verification and ensure the authenticity and transparency of advertisements. Additionally, it stipulates the methods and procedures for disclosing advertising information, allowing the public to judge the credibility of online advertisements.

It is also clearly required that regulated entities notify relevant authorities that their advertisements are fraudulent or obviously involve fraud, and they should remove, restrict access to, or stop broadcasting the advertisements within 24 hours or take other necessary actions to effectively prevent the spread of fraudulent advertisements and reduce the risk of consumer victimization, achieving a purification of the advertising environment under public-private cooperation.

Due to the continuous rise in fraud cases on Meta's community platforms, the Ministry of Digital Affairs imposed a fine of one million, and at the end of June, it was again heavily fined 15 million. Lin Yijing, Deputy Minister of Digital Affairs, stated, 'The Digital Industry Department has already regulated it and requires the disclosure of advertising information, emphasizing again that we have consistently received reports from the public through the online fraud reporting inquiry website.' The Ministry of Digital Affairs also confirmed that Meta executives will visit Taiwan in July to discuss issues such as misleading advertisements and anti-fraud.

Extended Reading
(Exclusive) Is the Ministry of Digital Affairs cracking down on overseas exchanges? Randomly banning KOLs in the crypto space? The Securities and Futures Bureau has responded!
The Ministry of Digital Affairs will regulate Threads! Nearly 2,000 fraud cases reported, and six other community platforms have already been regulated
Some crypto KOLs have been severely restricted! Is there panic about needing to bypass restrictions in the future? The founder of the interview platform says: There are a lot of giant babies.

  • This article is authorized for reproduction from: (Chain News)

  • Original Title: (Over a thousand Threads scams! Meta faces a fine of ten million New Taiwan Dollars! The Ministry of Digital Affairs announces regulation, requiring disclosure of advertising investors)

  • Original Author: Neo

'Over a thousand Threads scams! Meta executives will visit Taiwan in July, third-party payment organizations form an anti-fraud alliance' This article was first published in 'Crypto City'