Taiwan's Billion-Dollar Inheritance Scam Targeting Lonely Deaths

In Taiwan, a sophisticated scam targeting unclaimed inheritances has netted over NT$1.4 billion in a year. The "Ground Master" scheme, reminiscent of a 2017 Tokyo fraud, involves forged documents and fake identities. The ringleader, a land broker, recruited professionals like police, lawyers, and land agents to exploit the growing phenomenon of "lonely deaths"—elderly individuals dying alone without immediate heirs.

The scam operates by identifying unclaimed properties listed by local governments. These properties, often worth billions, are left unclaimed for over a year, making them prime targets. The criminals use fake wills to transfer ownership, exploiting the lack of immediate family to contest the claims.

One victim, a man living in the U.S., discovered his deceased mother's property had been fraudulently transferred. Despite initial success, the scam unraveled when suspicious bank staff halted a transaction. The man's subsequent legal action led to the arrest of over 40 individuals involved in similar schemes.

This case highlights the vulnerability of unclaimed assets in an aging society. It underscores the need for tighter regulations and public awareness to protect against such sophisticated frauds.