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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
China to Intensify Crackdown on Capital Markets Fraud
By Manesh Samtani | 09/07/2024
New guideline includes measures to crack down on financial fraud such as false information disclosure and embezzlement of IPO proceeds.
Cryptocurrency
Defunct Crypto Exchange Mt Gox Starts Repaying Creditors
By Editors | 09/07/2024
Mt. Gox was forced to close in 2014 after a major hack. Creditors have waited 10 years for repayments, which are now expected to be completed within 90 days.
Anti-Money Laundering
AUSTRAC Releases Two National Risk Assessments
By Editors | 09/07/2024
The NRAs provide an understanding of the scale, sophistication and threat of money laundering and terrorism financing in Australia.
Fraud, Scams & Cybercrime
Australia: ATO Joins Anti-Scam Intelligence Sharing Platform
By Sanday Chongo Kabange | 08/07/2024
The ATO has become the first government agency to join the ‘AFCX Anti‑Scam Intelligence Loop’.
Fraud, Scams & Cybercrime
SC Malaysia Issues Warning on Pre-IPO Investment Scams
By Nithya Subramanian | 05/07/2024
These scams primarily revolve around private placement offerings, often coinciding with upcoming IPO listings announced on the Bursa Malaysia website.
Fraud, Scams & Cybercrime
Nearly 4,000 Arrests Made in Global Anti-Scam Operation: INTERPOL
By Editors | 03/07/2024
The operation spanned 61 countries and resulted in 6,745 bank accounts being frozen and assets worth $257mn being seized.
Fraud, Scams & Cybercrime
FSC Issues New Standard on Fraud and Scam Mitigation for Super Funds
By Sanday Chongo Kabange | 02/07/2024
The new standard requires funds to implement multifactor authentication for all high-risk transactions and to have clear procedures to prevent fraudulent events.
Fraud, Scams & Cybercrime
China: New Law Strengthens Penalties for Accounting Fraud
By Editors | 02/07/2024
The new Accounting Law significantly increases penalties for financial fraud and for the first time includes the phrase “internal control”.
Supervision & Enforcement
Federal Court Orders Ferratum Australia to Pay A$16m
By Editors | 28/06/2024
The Court found that Ferratum’s non-compliance arose from its Finland-based parent company’s lack of attention to Australian regulatory requirements
Fraud, Scams & Cybercrime
Taiwanese Singer Facing Prosecution Over JPEX Crypto Fraud
By Editors | 28/06/2024
Popular Taiwanese singer Nine Chen reportedly received 320,000 USDT to act as JPEX’s brand ambassador last year.
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