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Fraud, Scams & Cybercrime
Reporting on fraud schemes, cyber attacks targeting financial systems, regulatory responses, and advancements in fraud prevention technologies.
Fraud, Scams & Cybercrime
HK Banks Extend Fraud Alerting Service to Counter Transactions
By Editors | 02/08/2024
HKMA said customers will receive fraud risk alerts regardless of whether a transfer is conducted at a branch or through online channels.
Fraud, Scams & Cybercrime
ACCC to Create 2nd NASC Fusion Cell to Target Job Scams
By Sanday Chongo Kabange | 01/08/2024
The fusion cell will work with social media platforms, recruitment agencies, financial firms and law enforcement to disrupt job scams.
Fraud, Scams & Cybercrime
India: Ransomware Attack Disrupts Services at Nearly 300 Banks
By Ajoy K Das | 01/08/2024
The attack affected C-Edge Technologies, a TCS and SBI joint venture that provides technology services to small banks across India.
Cybersecurity
RBI Issues New Anti-Fraud Rules for Non-bank Payment Systems
By Ajoy K Das | 01/08/2024
The new master direction includes requirements to establish real-time fraud monitoring solutions and multi-factor authentication for all payment transactions.
Fraud, Scams & Cybercrime
Details Revealed on Chinese Scam Operated from Isle of Man
By Manesh Samtani | 01/08/2024
The case is the first known where Chinese nationals operated a pig-butchering scam from a Western country to con victims in China.
Fraud, Scams & Cybercrime
Westpac, Optus Launch New Anti-scam Capability
By Sanday Chongo Kabange | 31/07/2024
Westpac launched a new in-app calling capability to protect customers from scammers trying to impersonate the bank.
Fraud, Scams & Cybercrime
US Authorities Charge Founder of Crypto Firm BitClout
By Editors | 31/07/2024
Nader Al-Naji faces civil and criminal charges for allegedly lying to investors and misappropriating investments for personal expenses and gifts.
AI Risk & Governance
Regulating GenAI: New Tools, Old Challenges
By Bradley Maclean | 30/07/2024
Striking the right balance between automation and human expertise is vital to ensure the effective use of GenAI technology.
Anti-Bribery & Corruption
UK Court Rules in Mozambique’s Favour in ‘Tuna Bonds’ Case
By Editors | 30/07/2024
The court awarded Mozambique around $825mn, along with an indemnity for over $1bn in debt owed to lenders and bondholders.
Fraud, Scams & Cybercrime
China Issues Legal Guidelines for Combatting Asia’s ‘Fraud Parks’
By Manesh Samtani | 30/07/2024
The guidelines identify four key areas where punishment shall be imposed to combat large-scale industrial fraud parks in Southeast Asia.
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