Fraud, Scams & Cybercrime

Anti-Money Laundering

US Celebrities Received 1MDB Funds Worth $2.43m – Reports

By Nithya Subramanian | 10/09/2024

A Malaysian court heard that fugitive Jho Low transferred 1MDB money to Kim Kardashian and Pharrell Williams but the reasons are unknown.

Anti-Money Laundering

France Releases Telegram CEO on €5m Bail and Conditions

By Manesh Samtani | 10/09/2024

Telegram modified its content moderation policies, allowing users to flag content in private and group chats that they believe is illegal, among other changes.

Conduct, Culture & Accountability

HKMA Suspends Ex-Hang Seng Bank Employee for Dishonest Conduct

By Sanday Chongo Kabange | 09/09/2024

The HKMA suspended a former Hang Seng Bank relevant individual for fabricating a client’s signature on a time deposit application form.

Fraud, Scams & Cybercrime

Korea Forms Task Force to Enhance Bank Lending Standards

By Editors | 08/09/2024

The FSS plans to require verification of loan documents, improve the process for verifying collateral value, and enhance post-loan monitoring standards.

Supervision & Enforcement

German Court Orders Former Wirecard Execs to Pay Damages

By Editors | 06/09/2024

The court found that three executives should be held personally liable for granting €100mn in loans without due diligence or collateral.

Fraud, Scams & Cybercrime

UK Proposes to Lower Limit for APP Fraud Reimbursements

By Nithya Subramanian | 06/09/2024

The PSR has proposed to revise its December 2023 plan to reduce the reimbursement limit from GBP 415,000 to GBP 85,000.

Fraud, Scams & Cybercrime

North Korean Cyber Actors Targeting Crypto ETFs, FBI Warns

By Nithya Subramanian | 05/09/2024

The FBI has issued an advisory warning of advanced social engineering tactics being used by North Korean hackers to steal crypto assets.

Anti-Money Laundering

Indonesia Captures Former Philippine Mayor Charged for Money Laundering

By Editors | 05/09/2024

The former mayor Alice Guo fled the Philippines in July after she was accused of helping to set up an illegal online gambling and scam centre.

Fraud, Scams & Cybercrime

Indonesia Blocks Online Gamblers from Accessing Financial Services

By Nithya Subramanian | 03/09/2024

Over 6,000 accounts have been blocked to prevent online gamblers from accessing financial services and “create a deterrent effect”.