Fraud, Scams & Cybercrime

Conduct, Culture & Accountability

China Fines PwC $62m, Suspends Firm for Six Months

By Manesh Samtani | 14/09/2024

PwC’s China unit helped Evergrande’s mainland flagship unit, Hengda Real Estate Group, to overstate its revenue by CNY 564 billion from 2018 to 2020.

Fraud, Scams & Cybercrime

Korea Offering Rewards for Self-Reporting of Fraud Crimes

By Editors | 13/09/2024

The National Police Agency said those who self-report fraud crimes will be considered for more lenient sentencing as well as monetary rewards.

PEPs & Sanctions

OFAC Sanctions Cambodian Tycoon for Scam Centre Operations

By Manesh Samtani | 13/09/2024

Billionaire Ly Yong Phat was sanctioned for his role in human trafficking and human rights abuses tied to scam centre operations he controls in Cambodia.

Cybersecurity

TWSE Suffers Russian DDoS Attack, But Recovers Quickly

By Editors | 13/09/2024

A pro-Russia hacker group targeted TWSE and other Taiwanese institutions with DDoS attacks in response to comments from President Lai Ching-de.

Fraud, Scams & Cybercrime

Singapore Court Jails Crypto Firm Director for Ponzi Scheme

By Nithya Subramanian | 12/09/2024

Chen Wei, Director of A&A Blockchain Technology Innovation, has been sentenced to four years in prison for deceiving over 700 investors.

Fraud, Scams & Cybercrime

Singapore to Issue First Charges Under New Anti-Scam Laws

By Nithya Subramanian | 12/09/2024

Around 40 individuals will be charged with new offences under the CDSA and CMA for selling their bank accounts and Singpass credentials.

Fraud, Scams & Cybercrime

UK FCA to Update Guidance on Addressing Suspicious Payments

By Manesh Samtani | 12/09/2024

The updated guidance aims to support a new policy that will enable PSPs to delay payments when fraud or dishonesty is suspected.

Supervision & Enforcement

ASIC Report Highlights Hardship Misconduct as Key Focus

By Thisanka Siripala | 12/09/2024

ASIC said it is actively conducting investigations into suspected breaches by lenders of their financial hardship obligations.

Fraud, Scams & Cybercrime

Singapore Police Nab 6 Men Linked to Global Cybercrime Syndicate

By Nithya Subramanian | 11/09/2024

The men, suspected of conducting global malicious cyber operations from Singapore, were arrested in an operation involving 160 police officers.