Fraud, Scams & Cybercrime

Fraud, Scams & Cybercrime

Singapore Banks to Roll Out Singpass Face Verification for Scam Protection

By Nithya Subramanian | 19/09/2024

MAS said that the feature will be rolled out over the next three months to strengthen digital token security and safeguard customers from scams.

Anti-Money Laundering

Europol Leads Takedown of Messaging Platform Used by Criminals

By Manesh Samtani | 19/09/2024

A total 51 suspects have been arrested, including 38 in Australia, where the platform’s mastermind was located and a drug lab was dismantled.

Fraud, Scams & Cybercrime

FTX Founder Files Appeal Against Fraud Conviction

By Thisanka Siripala | 18/09/2024

Sam Bankman-Fried’s lawyers argue that the judge in the case undermined the defence and blocked evidence from being shown in court.

Fraud, Scams & Cybercrime

Korea FSS Prepares to Penalise Six Securities Firms – Reports

By Nithya Subramanian | 18/09/2024

The securities firms allegedly used funds from new customers or their own capital to cover investment losses by institutional and corporate investors.

Fraud, Scams & Cybercrime

France Attempting to Use New Cybercrime Law Against Telegram Founder

By Editors | 18/09/2024

The LOPMI law, enacted in 2023 and as yet untested, is the first globally that gives a court the power to punish executives for abuse of the platforms they operate.

Fraud, Scams & Cybercrime

SFC Reaches Compensation Deal for Shareholders of Delisted Firm

By Sanday Chongo Kabange | 17/09/2024

If approved by the court, three former directors who siphoned money from a now-delisted company will pay HK$192mn in compensation to minority shareholders.

Anti-Money Laundering

Singapore Charges Vietnamese-American for Laundering $8.3m

By Nithya Subramanian | 17/09/2024

The Singapore Police Force said investigations have found that the funds were likely derived from overseas investment scams.

Fraud, Scams & Cybercrime

Singapore Probes Payment Delays at E-Commerce Platform

By Nithya Subramanian | 16/09/2024

After Qoo10 failed to pay merchants in South Korea, there are reports of payment delays also affecting small vendors in Singapore.

Fraud, Scams & Cybercrime

Indonesian Crypto Exchange Indodax Suffers DPRK Hack

By Nithya Subramanian | 16/09/2024

Indonesia’s largest crypto exchange is facing losses of up to $20mn from a hack allegedly perpetrated by a North Korea-affiliated actor.