Multimodal harmful meme detection is typically formulated as image--text harmfulness classification. A model may correctly predict harmfulness while misidentifying the attacked target or its supporting evidence. We therefore extend harmful meme detection with fine-grained target identification, asking what type of target is attacked, who is targeted, and where the target appears in the meme. The model predicts harmfulness for every meme and, for harmful memes, outputs the target category, target entity, textual mention, and visual region. To support this task, we introduce Meme3W, which unifies multiple public harmful meme datasets and provides human-verified annotations for harmful instances. We further introduce Joint Record Accuracy (JRA), a strict record-level metric requiring the harmfulness label and all target-identification fields to be jointly correct. Experiments with representative multimodal large language models reveal a substantial gap between harmfulness accuracy and JRA. To narrow this gap, we propose HarmTrace, an anchor-calibrated decoupled optimization framework. HarmTrace strengthens target-entity supervision through entity-aware supervised fine-tuning. It then applies Conditional Target-identification Policy Optimization (CTPO) to decouple harmfulness and target-identification advantages, restricting target-identification optimization to label-correct responses for harmful examples. CTPO uses a Virtual Positive Anchor (VPA) as a fully correct reference for target-identification advantage normalization. HarmTrace improves both JRA and harmfulness accuracy across the evaluated backbones, with JRA on the Qwen3-VL-8B backbone increasing from 17.58\% to 52.51\%. Our code is publicly available at https://github.com/llly1234/HarmTrace-for-Harmful-Memes.
MEMEs are widely used on the internet and often carry strong elements of sarcasm or irony. Understanding their hidden meanings typically requires a joint interpretation of text and vision. Existing methods focus on the dual-stream vision-language model to extract the visual and text simultaneously, which lacks background information and prior knowledge about the comprehensive explanation of MEME. One feasible option is to adopt chain-of-thought (CoT). However, the simple CoT approach lacks multi-perspective thinking, which may compromise the reliability of the resulting answers. Moreover, it often relies on shallow feature fusion, lacking the fusion of local details and fine-grained visual-prompt text alignment. This limitation prevents a deeper understanding of the intricate connections between the visual and the text. Herein, an enhanced vision-language multi-CoT (EVL-MCoT) approach is proposed to address these limitations. By promoting multi-CoT, EVL-MCoT enhances consistency and reduces bias in the decision-making process. Additionally, we design a prototype-guided and context-guided decoding framework, which incorporates visual prototypes to guide the fusion process and enables the model to align textual and visual information more precisely. We achieve promising results on the HatefulMemes and MultiOff datasets. The source code has been publicly released and is available at https://github.com/BGWH123/EVL-MCoT.