Fraud, Scams & Cybercrime

Anti-Money Laundering

Korean Regulators Intensify Scrutiny of Woori Bank, Affiliates

By Manesh Samtani | 03/09/2024

The FSS suspects that Woori intentionally covered up unfair loans granted to relatives of the group’s former chairman.

Fraud, Scams & Cybercrime

Indian Court Orders Takedown of Scam Crypto Websites

By Ajoy K Das | 03/09/2024

The order was granted after crypto firm Mudrex filed legal action to stop investors being scammed by websites using its name and brand.

Anti-Money Laundering

Thai Banks Have Fully Implement Anti-Money Mule Measures: BOT

By Nithya Subramanian | 02/09/2024

The measures include sharing information through the Central Fraud Registry and blocking high-risk customers from opening accounts.

Fraud, Scams & Cybercrime

Aviva Facing Charges in India for Tax Evasion, Fake Invoices

By Ajoy K Das | 02/09/2024

Aviva allegedly used fake invoices to circumvent regulatory limits on agent compensation, in the process evading taxes worth $5.2mn.

Fraud, Scams & Cybercrime

China Extradites Crime Syndicate Ringleaders to South Korea

By Editors | 01/09/2024

The syndicate has been operating from China since 2017, using government impersonation scams to defraud almost 2,000 Koreans of $113mn.

Fraud, Scams & Cybercrime

India Proposes Measures to Combat Spam Calls & SMS

By Ajoy K Das | 31/08/2024

Complaints have surged about unregistered telemarketers, including those using auto-dialers or robo-calls for unsolited commercial communications.

Fraud, Scams & Cybercrime

Australian Court Sentences Financial Adviser to 12 Years Jail

By Editors | 30/08/2024

Ben Jayaweera dishonestly obtained money from clients for investments and then transferred the funds to his own accounts.

Fraud, Scams & Cybercrime

US SEC Charges Chinese Asset Manager and CEO with Fraud

By Nithya Subramanian | 29/08/2024

The SEC accused QZ Asset Management, QZ Global, and CEO Blake Yeung of using false claims about their investments to defraud investors.

Fraud, Scams & Cybercrime

Swiss Court Sentences Two to Jail for Defrauding 1MDB

By Manesh Samtani | 29/08/2024

Two executives of an oil exploration company known as PetroSaudi were sentenced for defrauding 1MDB out of more than $1.8bn.