Fraud, Scams & Cybercrime

Anti-Bribery & Corruption

Hong Kong: Former OCBC Banker Pleads Guilty to Accepting Bribes  

By Sanday Chongo Kabange | 28/01/2025

The former bank employee accepted a bribe to refer mortgage clients to an agent so he could earn referral fees from a different lender

Cybersecurity

ASEAN Ministers Commit to Boosting Digital Security, Cooperation

By Thisanka Siripala | 26/01/2025

Officials at the 5th ASEAN Digital Ministers’ Meeting discussed ongoing work to advance cybersecurity, anti-scam measures, cross-border data flows and AI governance.

Fraud, Scams & Cybercrime

UK FCA Calls on Firms to Improve Use of National Fraud Database

By Mark Johnston | 25/01/2025

FCA review found that some firms underutilise the NFD and don’t always report cases that meet the standard of proof required.

Credit Risk

HKMA Publishes Banking Sector Priorities for 2025

By Sanday Chongo Kabange | 24/01/2025

The HKMA’s 2025 workplan includes measures to safeguard the banking sector from financial crime, credit risk and cyber risk.

Fraud, Scams & Cybercrime

BSP Issues Draft Rules on Sharing of Financial Account Information

By Sanday Chongo Kabange | 23/01/2025

The rules will implement a requirement of the Anti-Financial Account Scamming Act, which allows financial account information to be shared with enforcement agencies.

Fraud, Scams & Cybercrime

BSP Revises IT Risk Management Rules to Align with New Anti-Scams Law

By Sanday Chongo Kabange | 23/01/2025

The BSP said BSFIs must comply with the new regulations by 30 June 2025 and that a shared accountability framework will be adopted.

Fraud, Scams & Cybercrime

US SEC Imposes Penalties on Digital Currency Group and Former CEO

By Mark Johnston | 22/01/2025

DCG and its former CEO will pay a total $38.5mn for misleading investors about the financial health of Genesis Global Capital.

Fraud, Scams & Cybercrime

RBI Directs FIs to Implement Safeguards Against Fraud

By Nithya Subramanian | 22/01/2025

The RBI asked banks and other financial institutions to strengthen safeguards against fraud involving mobile numbers

Fraud, Scams & Cybercrime

NYAG Secures $1b Settlement Against ‘Predatory Lender’

By Nithya Subramanian | 22/01/2025

Yellowstone Capital exploited small businesses with fraudulent loans carrying illegal interest rates as high as 820% annually.