TAIPEI (Taiwan News) — The Financial Supervisory Commission reported that over 79,000 online investment fraud ads have been collected since its monitoring system was launched in April 2023.

Meta contributed 61,851 reports. Google accounted for 18,101 cases, per CNA.

In February alone, 4,596 fraud ads were reported, the highest monthly total in nearly seven months. The previous high was 5,032 cases in July 2024.

In 2023, the FSC began collaborating with Meta and Google to implement a system for tracking and removing fraudulent ads. Following amendments to the Securities Investment Trust and Consulting Act, online platform operators must remove illegal ads, with judicial police authorities assisting in the takedown.

In 2024, 941 financial fraud complaints were received, marking a three-year high. This is an increase from 636 cases in 2022 and 787 in 2023.

Common types of fraud include phone calls, text messages, and group invitations to buy stocks. Scams involving fake financial firms, trading apps, Hong Kong penny stocks, and virtual currency platforms were also reported. 

Investment fraud ads often do not include contact information, physical addresses, or company names. They contain links to suspicious websites and urge users to join investment groups, per whoscall.

These ads are usually poorly designed and follow a similar format, often making exaggerated claims like “high returns with no risk.” They may also illegally use the images of famous entrepreneurs or celebrities for endorsement.