Fraud, Scams & Cybercrime

Fraud, Scams & Cybercrime

Malaysia Proposes Stricter Laws to Target Harm from Online Content

By Nithya Subramanian | 04/12/2024

The proposed amendments aim to curb objectionable online content to curb scams, online gambling, bullying and pornography.

Fraud, Scams & Cybercrime

Former CEO of Celsius Network Pleads Guilty on Fraud Charges

By Editors | 04/12/2024

Alex Mashinsky misled investors about the financial condition of Celsius and used customer funds to manipulate the value of a digital token the company issued.

Fraud, Scams & Cybercrime

HKMA Announces Two New Anti-Scam Measures for Banks

By Sanday Chongo Kabange | 04/12/2024

“Money Safe” will allow customers to segregate a portion of their deposits and protect it from fund outflows, similar to Singapore’s “Money Lock”.

Anti-Money Laundering

Basel Institute on Governance Publishes 2024 Basel AML Index

By Manesh Samtani | 04/12/2024

In Asia, New Zealand, Australia, Taiwan, Brunei, and South Korea scored the best while Myanmar, Lao PDR, China, Vietnam, and Cambodia scored the worst

Fraud, Scams & Cybercrime

Taiwan Executive Yuan Approves “Version 2.0” Anti-Fraud Action Plan

By Manesh Samtani | 03/12/2024

The FSC also issued new regulatory guidelines for FIs and VASPs on preventing the fraudulent use of financial services.

Fraud, Scams & Cybercrime

South Korea Cracks Down on Illegal Spam Messages

By Mark Johnston | 03/12/2024

The new measures include enhanced filtering services and the application of KISA’s blacklist system to prevent the mass transmission of illegal messages.

Fraud, Scams & Cybercrime

India: RBIH Wants Banks to Use AI to Detect Mule Accounts

By Editors | 03/12/2024

The Reserve Bank Innovation Hub is reportedly in talks with ten public and private banks about adopting its “Mulehunter.Ai” tool to identify mule accounts.

Fraud, Scams & Cybercrime

Meta Tightens Ad Rules to Curb Financial Scams​ in Australia

By Thisanka Siripala | 02/12/2024

Meta will require financial advertisers to verify their AFSL numbers and disclose payer and beneficiary information

Data Privacy

Australia Concludes Review of Credit Reporting Framework

By Thisanka Siripala | 02/12/2024

The review resulted in 37 recommendations, including the introduction of a separate licensing regime for credit reporting bodies to ensure accountability.