Fraud, Scams & Cybercrime

Cybersecurity

Singapore Launches Consultation on Proposed Online Safety Legislation

By Nithya Subramanian | 25/11/2024

The proposed reforms include a complaints mechanism for victims, statutory torts for legal redress and measures to increase accountability for harmful content.

Fraud, Scams & Cybercrime

OJK Announces Soft Launch of Indonesia Anti-Scam Centre

By Mark Johnston | 25/11/2024

The Anti-Scam Centre will improve coordination between FIs and law enforcement agencies, and help protect consumers against fraud and scams.

Fraud, Scams & Cybercrime

Former FTX CTO Gary Wang Sentenced, Avoids Prison Term

By Nithya Subramanian | 21/11/2024

Wang’s assistance had helped convict Sam Bankman-Fried. He even built a software programme to help the DOJ detect fraud in financial markets.

Fraud, Scams & Cybercrime

Korea Extradites Russian National to US to Face Cybercrime Charges

By Editors | 21/11/2024

Evgenii Ptitsyn and co-conspirators developed and offered access to Phobos ransomware to enable others to encrypt victims’ data and extort ransom payments from them.

Anti-Bribery & Corruption

US Authorities Charge Billionaire Gautam Adani for Bribery, Fraud

By Nithya Subramanian | 21/11/2024

The SEC also filed a complaint saying Adani induced US investors to buy $175mn in bonds by misrepresenting an aversion to paying bribes.

Fraud, Scams & Cybercrime

CSRC Takes Over Futures Firm for “Out-of-control Management”

By Editors | 20/11/2024

Hehe Futures Co Ltd is controlled by Lin Qiang, a fugitive tycoon who was arrested in Indonesia last month after fleeing China in August 2023.

Conduct, Culture & Accountability

IOSCO Unveils Roadmap to Enhance Retail Investor Online Safety

By Mark Johnston | 20/11/2024

IOSCO released three consultation reports as part of the first wave of the roadmap to retail investor online safety.

Fraud, Scams & Cybercrime

Singapore Court Sentences Hin Leong Founder to 17.5 Years Jail

By Nithya Subramanian | 19/11/2024

OK Lim was sentenced for defrauding HSBC and instigating forgery. The court said his actions severely damaged Singapore’s reputation.

AI Risk & Governance

FSB Flags Growing Risks of AI Adoption in Financial Services

By Thisanka Siripala | 19/11/2024

New FSB report identifies AI-related vulnerabilities in the financial sector that can potentially increase systemic risk.