Fraud, Scams & Cybercrime

Cryptocurrency

Japan FSA Directs Crypto Firm to Report on $300m Theft

By Editors | 06/06/2024

The FSA directed DMM Bitcoin to investigate and report on the cause of the theft. The government will monitor these efforts and “respond appropriately”.

Fraud, Scams & Cybercrime

SFC Obtains Asset Freeze Orders from Canadian Regulator

By Sanday Chongo Kabange | 06/06/2024

The preservation orders were made to restrain the assets of a former Hong Kong CEO pursuant to the IOSCO EMMoU.

Anti-Money Laundering

US Authorities Arrest Epoch Times CFO for Money Laundering

By Editors | 06/06/2024

The DOJ alleges Weidong Guian participated in a “sprawling, transnational scheme” to launder $67mn million of crime proceeds.

Cybersecurity

Hackers Put Stolen Santander Data Up for Sale – Reports

By Editors | 05/06/2024

The hacking group reportedly stole 30 million customers’ bank account details and 28 million credit card numbers, among other information.

Fraud, Scams & Cybercrime

Fraud Constitutes 37pc of All Financial Crimes – Report

By Mark Johnston | 05/06/2024

Fraud accounted for 37% of financial crime records reviewed by LSEG Risk Intelligence for its inaugural fraud analysis.

Anti-Money Laundering

AUSTRAC Issues New Guidance on Money Mule Detection

By Sanday Chongo Kabange | 04/06/2024

The new financial crime guide was developed in response to an increasing trend for foreign students to be used as money mules.

Fraud, Scams & Cybercrime

SGX Imposes Three Year Ban on Ex-CEO of Listed Company

By Nithya Subramanian | 04/06/2024

The three-year ban is the most severe sanction SGX’s Listings Disciplinary Committee can impose.

Fraud, Scams & Cybercrime

APAC Regulators Form New Anti-Scam Working Group

By Sanday Chongo Kabange | 04/06/2024

ASIC will lead the working group, which also comprises MAS and the FMA. The regulators will share more scam-related information and build up capacity and cooperation.

Fraud, Scams & Cybercrime

Korea to Develop AI Service to Counter Voice Phishing Scams

By Manesh Samtani | 04/06/2024

Authorities have agreed to share de-identified call data with private companies for use in developing AI services to prevent voice phishing scams.