Fraud, Scams & Cybercrime

Fraud, Scams & Cybercrime

Australia Introduces Legislation for SMS Sender ID Register

By Sanday Chongo Kabange | 27/06/2024

The new legislation allows for the establishment of an SMS Sender ID Register to help fight scams.

Fraud, Scams & Cybercrime

$137m Embezzled from Korean FIs from 2018-2023: FSS

By Nithya Subramanian | 26/06/2024

Less than 10% of the embezzled funds have been recovered to date. Meanwhile, the FSS has expanded its inspection team handling Woori’s latest embezzlement case.

Fraud, Scams & Cybercrime

New Industry Anti-fraud Platfom in Taiwan Yields Results: FSC

By Mark Johnston | 25/06/2024

The platform, established to prevent unathorised bank transfers, identified 136 suspicious accounts in the first month of operation.

PEPs & Sanctions

EU Imposes New Cyber Sanctions Against Six Russian Actors

By Editors | 25/06/2024

The sanctions target two ‘Callisto group’ members, two ‘Armageddon hacker group’ members, and two others involved in deploying ‘Conti’ and ‘Trickbot’ malware.

Fraud, Scams & Cybercrime

HKMA Issues Guidance for Banks on Handling ‘Bogus’ Calls

By Sanday Chongo Kabange | 25/06/2024

The HKMA has directed banks to review and step up measures to protect consumers from “bogus” telephone calls purporting to be from banks.

Fraud, Scams & Cybercrime

BSP Details Efforts to Address Fraud and Scam Threats

By Bradley Maclean | 25/06/2024

BSP officials discuss efforts to address fraud and scam threats through new requirements for banks and a thematic review of fraud management during 2024.

Fraud, Scams & Cybercrime

UAE Extradites Former CEO to Thailand to Face Fraud Charges

By Editors | 25/06/2024

The former CEO of Stark Corporation was extradited to Thailand after being on the run for around eight months.

Fraud, Scams & Cybercrime

BNM Calls for Prompt Refunds for Depositors Affected by Fraud

By Nithya Subramanian | 24/06/2024

The central bank said recent reports of large-scale unauthorised cash withdrawals arose from collusion between bank employees and external parties.

Conduct, Culture & Accountability

Korea: FSS Governor Calls For Culture Change at Banks

By Mark Johnston | 23/06/2024

The call for action from FSS Governor Lee Bok-hyun comes in response to multiple mis-selling and embezzlement cases in the banking sector.