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Enhancing Financial Fraud Awareness: "Ghost Stories" Competition Bolsters Public Vigilance

Peggy Huang
Associate at TWSE

To enhance public awareness of financial fraud, the TWSE launches another phase of its “5D Anti-Fraud Campaign” – “Ghost Story Contest.” The contest comprises two main categories: the "Public Ghost Story Contest" and “Ghost Story Contest for Financial Co-workers.” This initiative broadly invited the public to share their personal experiences of being scammed or successfully recognizing scams, while frontline financial professionals contributed real-life cases from their work experiences to raise fraud prevention awareness.

Through the power of storytelling, participants exposed various types of scams, such as fake investment groups, mule accounts, misleading "stock tip" schemes, and emotionally manipulative romance fraud via dating apps. By sharing these experiences, participants helped readers sharpen their ability to recognize red flags and fraudulent tactics. The contest not only attracted strong public engagement but also highlighted the public's high sensitivity and demand for solutions regarding financial fraud.

Figure1: Public submissions detailing experiences with "LINE Group Ghosts," serving as warnings to other readers to avoid falling into similar traps.

More public ghost story submissions are posted on fan page: Post 1Post 2

Beyond the significant boost in public fraud awareness, the ability of financial professionals to prevent fraud has become increasingly vital, showcasing their critical role on the front lines. Numerous cases vividly document how co-workers, in critical moments, successfully dissuaded suspicious transaction and helped individuals identify fraudulent schemes. These instances demonstrate financial institutions' proactive commitment to fulfilling their social responsibility of "identifying and preventing fraud." Furthermore, they also highlight the necessity for cooperation between public and privates and timely responses in combating financial fraud.

To further expand the impact of fraud education, we concurrently launched an interactive online quiz, "Which Fraud Ghost is Targeting You?" This activity blends educational content with entertainment, guiding participants through questions to identify their susceptibility to different types of fraud. This innovative approach successfully transformed fraud awareness from passive dissemination to active engagement, attracting a younger demographic and creating a more diverse and interactive model for fraud education.

The stability of the financial market is built upon investor trust and protection. Moving forward, the TWSE continue to strengthen its fraud awareness mechanisms, integrating more cross-domain promotions and case studies to implement comprehensive fraud prevention education. We aim to collaborate with all sectors of society to build a robust moat against financial fraud.

Figure2: Professionals sharing successful fraud prevention experiences, preventing individuals from falling as victim to "Mule Account Ghosts."

More financial professional submissions detailing their invaluable contributions are available on our fan page: Post 3Post 4

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