Crypto giant Binance is teaming up with law enforcement agencies globally to launch a joint anti-scam campaign aimed at preventing and combating financial scams in the cryptocurrency industry, according to an announcement.

"Keeping our ecosystem and the Binance community safe is at the core of what we do. Which is why we partnered with law enforcement agencies across the globe to launch the Joint Anti-Scam Campaign." Binance said.

Binance started anti-scam campaign in Hong Kong, where they worked with the local police force to build a targeted alert and crime prevention message that included helpful tips, examples of the most common scams, and relevant resources and contacts. 

When users in Hong Kong initiate a withdrawal on Binance, the following message will prompt:

Binance said approximately 20.4% of users had either reconsidered the withdrawal or reviewed whether the transaction carried the risk of scam in the first four weeks since its launch.

The Cyber Security and Technology Crime Bureau for the Hong Kong Police Force noted on the campaign: “Hong Kong Police is putting an emphasis on effective crime prevention. Consequently, we joined forces with different stakeholders, including Binance, to deliver the key crime prevention advice to the relevant users.” 

Moving forward, Binance is looking to cooperate with law enforcement agencies in other regions to promote the anti-scam program.