Fraud, Scams & Cybercrime

    Reporting on fraud schemes, cyber attacks targeting financial systems, regulatory responses, and advancements in fraud prevention technologies.

    Fraud, Scams & Cybercrime

    India’s FinMin Directs Banks to Adopt 'MuleHunter' AI Tool

    By Nithya Subramanian | 04/05/2026

    The direction was issued following a major cyber-fraud probe that exposed widespread misuse of mule accounts, including alleged involvement of bank staff, as authorities step up coordination to curb digital financial crime.

    Fraud, Scams & Cybercrime

    Sri Lanka Treasury Heist Probe Widens Amid Second Fraud, Official’s Death

    By Manesh Samtani | 04/05/2026

    The USD 2.5 million cyber heist revealed deep-seated vulnerabilities and a second, similar fraud at another state entity.

    Operational Risk

    HKMA Annual Report Sets Key Priorities for 2026

    By Manesh Samtani | 04/05/2026

    The report highlights Hong Kong's resilience in 2025 and set a forward-looking agenda focused on technology risk, digital assets, and financial crime.

    Fraud, Scams & Cybercrime

    Indonesian Agritech Founder Jailed in USD 300 Million Fraud Case

    By Manesh Samtani | 03/05/2026

    The verdict concludes a high-profile scandal that has triggered widespread scrutiny over due diligence standards in Southeast Asia’s venture capital markets.

    Fraud, Scams & Cybercrime

    Korea Probes KRW 100 Billion Loan Fraud at Savings Banks

    By Editors | 01/05/2026

    The regulator has launched an industry-wide inspection after two savings banks were defrauded using fake auto parts invoices.

    Anti-Money Laundering

    FSS Korea Imposes New Rules on Payment Gateway Virtual Accounts

    By Editors | 01/05/2026

    Payment gateway firms will be required to conduct customer due diligence and monitor merchants to curb money laundering and fraud.

    Fraud, Scams & Cybercrime

    South Korea Bolsters Fight Against Illegal Predatory Lending

    By Mark Johnston | 01/05/2026

    Regulators have amended reporting rules and expanded powers to block phone numbers used by illicit lenders, building on a new one-stop support system for victims.

    Fraud, Scams & Cybercrime

    Digital Innovation Poses Risks to Consumer Financial Health: BIS Paper

    By Manesh Samtani | 01/05/2026

    New paper warns that the benefits of digital finance are emerging alongside new vulnerabilities, highlighting the crucial role of regulators.

    Anti-Money Laundering

    Hong Kong to Expand AML Information Sharing Platform to All Retail Banks

    By Sanday Chongo Kabange | 30/04/2026

    The FINEST platform will be rolled out to all 28 retail banks by June 2026, as part of a wide-ranging regulatory agenda unveiled by the HKMA.

    Fraud, Scams & Cybercrime

    Singapore Charges 15 for Sharing Singpass Details to Create Shell Companies

    By Nithya Subramanian | 30/04/2026

    The individuals allegedly sold their national digital identity credentials to a criminal syndicate, facilitating the creation of shell companies and fraudulent work pass applications.

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