Fraud, Scams & Cybercrime

Fraud, Scams & Cybercrime

Singapore Police Investigate 288 Suspects in Scams Totaling S$6.54m

By Nithya Subramanian | 18/11/2024

The Singapore Police Force conducted a two-week operation uncovering 1,208 scam cases, including job, e-commerce, and investment scams.

Fraud, Scams & Cybercrime

New FinCEN Alert Offers Guidance on Detecting AI Deepfakes

By Editors | 15/11/2024

The alert explains typologies and provides red flag indicators to assist in identifying fraud schemes that leverage deepfake media created with GenAI tools.

Fraud, Scams & Cybercrime

FTX Sues Binance to Recover $1.8b in Alleged Fraudulent Transfers

By Nithya Subramanian | 14/11/2024

FTX has filed a lawsuit against Binance and its former CEO, Changpeng Zhao, seeking to reclaim $1.8bn from a 2021 share buyback deal.

Anti-Money Laundering

Spanish Police Chief Arrested Over Links to Criminal Gangs

By Nithya Subramanian | 13/11/2024

Óscar Sánchez Gil was until recently the head of the fraud and AML division of Spain’s national police force in Madrid.

Fraud, Scams & Cybercrime

Australia Jails Ex-Investment Manager Over False Performance Reports

By Sanday Chongo Kabange | 13/11/2024

The forged portfolio performance verification reports falsely verified or claimed a history of successful investment returns.

Fraud, Scams & Cybercrime

Asian FinTech Associations Sign MoU on Anti-fraud Collaboration

By Editors | 12/11/2024

14 Asian FinTech associations signed an MoU last week at an event hosted in Taiwan to enhance collaborations in anti-fraud.

Fraud, Scams & Cybercrime

Singapore Introduces Bill to Give Police Additional Anti-Scam Powers

By Nithya Subramanian | 12/11/2024

The bill will allow the police to impose restrictions on individuals’ bank accounts and credit access if necessary to protect them from scams.

Fraud, Scams & Cybercrime

Korea Introducing New Disclosure Rules to Prevent Embezzlement

By Editors | 12/11/2024

Listed companies and large unlisted companies will have to make annual disclosures on the control measures they use to prevent and detect misappropriation of funds.

Conduct, Culture & Accountability

Nomura Asked to Probe Attempted Murder Case Involving Ex-Employee

By Editors | 12/11/2024

The FSA has asked Nomura to review the incident and analyse its root cause and background, and come up with solutions.