TAIPEI (Taiwan News) — The Financial Supervisory Commission said Tuesday it has removed more than 100,000 scam investment advertisements since 2023.

The FSC said it instructed affiliated financial bodies to deploy AI flagging systems on platforms like Meta and Google, per CNA. The ads were reported to the Criminal Investigation Bureau for removal.

The Taiwan Stock Exchange was tasked to commission an anti-fraud startup to build an AI system, which began trial operations in September last year. More than 60,000 scam investment ads have been taken down through the platform.

“Fraud does not take holidays,” the commission said, noting that scams often spike during long breaks, per Liberty Times. Since July, it has required related institutions to verify suspected fraud cases even on non-working days.

The FSC said the average time needed to remove scam investment ads fell to about 3.4 hours in November. It added that faster removals are critical to limiting losses.

The commission also warned of a common tactic in which fraud rings lure victims from social media into Line groups. It said it has established a mechanism with Line to suspend suspected fraudulent accounts.