Taipei Senior Loses 2.2 Million, Nearly Falls for Second Investment Scam Worth 2.7 Million

A 70-year-old man in Taipei lost 2.2 million NT$ to an investment scam, then nearly withdrew 2.7 million NT$ for another fraudulent scheme involving Japanese whisky investment. Police intervention at the bank prevented the loss and led to the arrest of a money courier.

How the Scam Works

In this case, scammers targeted the victim through online channels with a seemingly legitimate investment opportunity. The fraudulent scheme involved:

Befriending the victim on the internet and gaining their trust
Promoting "investment" in Japanese premium whisky brand "Hibiki 30 Years"
Claiming that buying large quantities at high prices and then selling at marked-up prices would generate "guaranteed profits"
Creating urgency by pressuring the victim to withdraw funds quickly
Planning to collect the cash in person through a money courier

The victim initially lost 2.2 million NT$ before attempting to withdraw 2.7 million NT$ for this second scheme.

Warning Signs of Investment Fraud

Investment scams typically share common red flags:

Promises of guaranteed high returns or "sure profits"
Unsolicited investment offers from people met online
Pressure to make quick decisions and transfer money immediately
Requests for unusually large cash withdrawals
Complex investment structures with unclear explanations
Claims of "exclusive" or "limited-time" opportunities
Requests to keep the investment secret from family or financial advisors

Prevention Tips

To protect yourself from investment fraud:

Use Legitimate Channels: Always invest through registered financial institutions verified by regulatory authorities
Be Skeptical of Online Solicitation: Never respond to investment pitches from people you've only met online
Consult Trusted Sources: Before making investment decisions, discuss with family members or licensed financial advisors
Take Time to Decide: Avoid making rushed decisions; legitimate investments don't require immediate action
Communicate with Your Bank: When withdrawing large sums, inform the teller and ask questions if you're uncertain
Verify Information: Research any company or investment opportunity independently through official sources

Where to Report

If you suspect fraud or are being targeted:

Anti-Fraud Hotline: 165 (Taiwan)
Emergency Line: 110
Local Police Fraud Prevention Units
Your Financial Institution
Financial Supervisory Commission (FSC)

Authorities emphasize that legitimate investments should only be conducted through regulated financial channels. Be extremely cautious of any pitch using phrases like "guaranteed returns," "no risk," "quick profits," or "limited opportunity."