**Taiwanese Police Uncover Cross-Border Scam Ring Accused of Siphoning Billions**
A Taiwan-based scam ring has allegedly funneled more than NT$5 billion (US$156 million) annually to China while targeting Taiwanese and Chinese nationals living in the United States, Japan, and Canada, according to police statements released yesterday.
The investigation was brought to light after more than a dozen individuals were arrested for allegedly transporting cash as part of a scheme targeting an 80-year-old Taiwanese woman, surnamed Hsu, who has lived in California for nearly 30 years while most of her family remains in Taiwan.
According to the Taipei City Police Department and the Criminal Investigation Bureau, the group targeted Hsu amid last year’s stock market surge. The syndicate deployed members to California in teams of three on a rotating basis. These members rented accommodations near Hsu’s residence to monitor her.
Between September of last year and Jan. 8, three to four teams conducted trips to the US, staying for about a month at a time. Police stated that the group carried out approximately 17 in-person pickups, collecting a total of NT$89.26 million (US$2.79 million) in cash and gold.
Hsu returned to Taiwan in May and reported the crime after noticing that the individuals she interacted with spoke with Taiwanese accents and issued receipts written in traditional Chinese.
A joint task force formed by the Taipei City Police Department and the National Police Agency’s Criminal Investigation Bureau recovered more than 10 fingerprints from 17 falsified receipts provided by Hsu. Investigators matched several fingerprints to suspects with backgrounds linked to the Bamboo Union or prior fraud convictions.
Following an initial round of raids in June that led to three arrests, police conducted a larger operation last month, arresting more than 20 additional suspects in Taipei and central Taiwan.
Investigators revealed that once money was collected in California, suspects converted the funds into cryptocurrency and transferred them in batches to Taiwan, China, or Cambodia. By avoiding carrying large amounts of physical cash on flights, the suspects made tracking the illicit financial flows more difficult. Posing as investment advisers once a target was identified, the group used this method to approach victims.
The task force noted that Hsu was not the sole target. Communication records indicated that other Taiwanese expatriates residing in the US, Japan, and Canada were defrauded of a combined total exceeding NT$10 million.
Based on nearly a year of financial records analyzed during the probe, investigators found that the majority of the syndicate’s illicit funds—totaling more than NT$5 billion—were ultimately transferred to China.
Article and image source: news.ltn.com.tw
