Fraud, Scams & Cybercrime

Fraud, Scams & Cybercrime

Indian Telco Ordered to Pay Compensation for SIM Swap Fraud

By Ajoy K Das | 23/08/2024

Airtel issued a duplicate SIM card without verification, resulting in fraudulent withdrawals in May 2017, and then challenged a July 2018 compensation order and lost.

Fraud, Scams & Cybercrime

Singapore CPF Lowers Online Withdrawal Limit to Deter Scammers

By Nithya Subramanian | 23/08/2024

The maximum online daily withdrawal limit will be reduced from S$200,000 to S$50,000 to introduce more friction against scams.

Fraud, Scams & Cybercrime

Singapore Considers Granting Police More Powers to Block Scams

By Nithya Subramanian | 23/08/2024

The police will be able to block banking transactions if there is “reasonable belief” that victims will transfer money to scammers.

Fraud, Scams & Cybercrime

Hong Kong, Macao Authorities Arrest Seven in Joint Operation

By Sanday Chongo Kabange | 23/08/2024

The SFC, ICAC and the Macao Judiciary Police arrested seven individuals for suspected fraud, including the chairman of a listed company.

Fraud, Scams & Cybercrime

Binance and Macau Police Launch Campaign to Combat Scams

By Editors | 23/08/2024

Binance has partnered with the Macau Judiciary Police to launch an anti-scam campaign, aiming to protect users from the risk of fraud in the digital space.

Fraud, Scams & Cybercrime

US SEC Fines Transfer Agent for Failure to Guard Against Cyber Fraud

By Editors | 23/08/2024

The transfer agent’s failures led to more than $6.6mn in losses from two separate cyber intrusions, one of which involved Hong Kong bank accounts.

Anti-Money Laundering

All Eyes Are on Singapore and its Fight Against Dirty Money

By Tom Keatinge | 22/08/2024

For the past two years, Singapore has led the global fight against dirty money. It’s now time for it to focus on the home front again, says Tom Keatinge.

Fraud, Scams & Cybercrime

South Korea Implements Measures to Prevent Insurance Fraud

By Editors | 22/08/2024

South Korea has intensified its efforts to combat insurance fraud with the enactment of new laws and extensive public awareness campaigns.

Fraud, Scams & Cybercrime

Singapore Jails Former Healthcare Execs for Defrauding Banks

By Ranamita Chakraborty | 22/08/2024

Maybank, Standard Chartered, DBS, UOB, Citibank, and HSBC were defrauded of SGD 69 million through the use of forged documents.