Fraud, Scams & Cybercrime

Fraud, Scams & Cybercrime

South Korea’s Kyongnam Bank Fined $2.8m for Accounting Violation

By Thisanka Siripala | 24/02/2025

The fine is linked to an embezzlement scandal involving a former bank executive recently sentenced to 35 years in jail.

Fraud, Scams & Cybercrime

DBS Wealth Manager Pleads Guilty on Cheating Charges

By Nithya Subramanian | 21/02/2025

The former bank employee lured clients into making investments and then had them transfer funds into his personal accounts.

Fraud, Scams & Cybercrime

US SEC Launches Cyber and Emerging Technologies Unit

By Nithya Subramanian | 21/02/2025

The unit will “root out those seeking to misuse innovation to harm investors and diminish confidence in new technologies”

Fraud, Scams & Cybercrime

India Enforcement Directorate Seizes $190m Related to BitConnect Scam

By Nithya Subramanian | 21/02/2025

The ED the f’s investigation revealed that the founder of BitConnect and his associates ran an unregistered, fraudulent investment scheme.

Fraud, Scams & Cybercrime

Fraud Uncovered in Secondary Market for FTX Debt Claims

By Nithya Subramanian | 21/02/2025

An investigation by Inca Digital revealed that a scam group used fake identities to impersonate claim holders and made away with $5.6mn.

Cybersecurity

SEBI Proposes Technology-based Measures to Secure Trading Accounts

By Nithya Subramanian | 20/02/2025

SEBI proposes stronger authentication and trade controls to prevent unauthorised access and fraudulent transactions.

Anti-Money Laundering

Financial Crime Expert Nathan Lynch Appointed as Chief Correspondent

By Editors | 20/02/2025

As Chief Correspondent, Nathan Lynch will lead specialist reporting on financial crime, money laundering, sanctions and risk management.

Fraud, Scams & Cybercrime

Indian Tax Authorities Hit Aviva with $7.5m Fine

By Nithya Subramanian | 19/02/2025

Tax authorities said by using fraudulent invoices and cash payments, Aviva wrongly claimed tax credits and evaded taxes.

Fraud, Scams & Cybercrime

Mizuho Bank Discloses Safe Deposit Box Theft from 2019

By Thisanka Siripala | 19/02/2025

Mizuho Bank said it tightened its system of storing spare keys after an employee stole from customer safe deposit boxes in 2019.