Financial Crime World

TAIWAN CRIMINAL RING DETAILED IN IDENTITY THEFT CASE: 15 DETAINED FOR CROSS-STRAIT FRAUD SCHEME

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Fifteen individuals have been taken into custody or questioned in connection with a major identity theft ring operating across the Taiwan Strait, law enforcement officials announced yesterday.

The Criminal Syndicate

The criminal syndicate, allegedly led by Chen Wei-chih (陳韋志), is accused of stealing sensitive customer data and payment information from numerous companies, including:

  • Carrefour
  • CPC Corp, Taiwan
  • Eslite Bookstore
  • Food and grocery delivery services
  • books.com.tw
  • Global Mall Co
  • Amazon.com

Chen, 31, who holds both Taiwanese and US citizenship, used the alias “Cola” in his criminal activities. His top aide, Hsieh (謝), 43, and two others were denied bail following questioning.

The Fraud Scheme

The CIB claims that Chen and two Chinese hackers conspired to breach online sites, stealing data from members’ accounts to facilitate unauthorized purchases. The group allegedly made illegal profits exceeding NT$10 million (US$320,307) annually by targeting hundreds of Taiwanese individuals over a six-year period.

To carry out the fraud:

  • Chen set up fake websites that targeted victims through phishing operations.
  • Once a person’s details were entered into the fake site, the suspects gained access to their account information, which they used to make purchases.
  • The group created a fake Amazon website and illegally obtained millions of credit card transaction records and personal data from individuals in the US, Canada, Japan, and Thailand.

The Consequences

With the stolen account details, the criminals bought high-end items such as:

  • Luxury bags
  • Jewelry
  • Electronics

They sold these items on social media platforms. The CIB emphasized that the group’s activities damaged Taiwan’s financial order and transaction framework, stating that the suspects stole data from many countries worldwide.

Prevention is Key

To prevent identity theft, the public is advised to:

  • Secure their online transactions
  • Be cautious of phishing sites
  • Refrain from installing apps from unknown sources

The CIB worked diligently for months to build a case against the ring, ultimately leading to its dismantling and restoration of justice.