Fraud, Scams & Cybercrime

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

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    Cybersecurity

    Outgoing US President Signs Executive Order on Cybersecurity

    By Thisanka Siripala | 17/01/2025

    The executive order is aimed at strengthening US cybersecurity infrastructure and improving accountability among software vendors

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    Fraud, Scams & Cybercrime

    Korea FSS Launches Probe at IBK Over Fraudulent Loans

    By Mark Johnston | 17/01/2025

    Current and former employees of Industrial Bank of Korea allegedly participated in a KRW 23.95 billion fraudulent loan scheme

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    Supervision & Enforcement

    US OCC Fines Three Former Wells Fargo Execs for Misconduct

    By Thisanka Siripala | 17/01/2025

    The OCC’s penalties conclude enforcement proceedings against the last of 11 individuals involved in the fake-accounts scandal.

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    Fraud, Scams & Cybercrime

    US, Japan, S Korea Issue Joint Warning Over DRPK Crypto Thefts

    By Thisanka Siripala | 17/01/2025

    North Korea’s cyber programme threatens the integrity and stability of the international financial system, the joint statement says

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    Fraud, Scams & Cybercrime

    CFPB Fines Block Inc Over Cash App Security Lapses

    By Nithya Subramanian | 17/01/2025

    The CFPB has fined Block for allowing fraud to proliferate and closing cases of reported fraud without even opening a legally required investigation.

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    Fraud, Scams & Cybercrime

    Australia Launches Nationwide Scam Awareness Campaign

    By Sanday Chongo Kabange | 16/01/2025

    The ‘Fighting Scams Campaign’ aims to increase awareness and action of “three simple, memorable steps” to safeguard against scams.

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    Fraud, Scams & Cybercrime

    Hong Kong Works to Rescue Citizens from Scam Compounds

    By Manesh Samtani | 14/01/2025

    HK task force visited Thailand seeking assistance to secure the return of 12 individuals believed to be detained in scam compounds

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    Fraud, Scams & Cybercrime

    Japan to Enhance Information Sharing on Illegally Used Bank Accounts

    By Manesh Samtani | 10/01/2025

    Mizuho, MUFG Bank, SMBC, Resona Bank, Joyo Bank, and Bank of Nagoya are participating in a JBA-led study group to develop a new information-sharing framework

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    Fraud, Scams & Cybercrime

    Rescue of Chinese Actor Turns Spotlight to Myanmar Scam Compounds

    By Manesh Samtani | 10/01/2025

    The actor was lured to Thailand by a promise of a job casting before being taken to Myanmar and put to work in a scam compound

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    Fraud, Scams & Cybercrime

    US Court Sentences Aide of Exiled Chinese Businessman Guo Wengui

    By Mark Johnston | 09/01/2025

    Yvette Wang was sentenced to 10 years in prison for her involvement in a $1bn fraud scheme orchestrated by Chinese businessman Guo Wengui.

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