Fraud, Scams & Cybercrime

Anti-Money Laundering

Woman Jailed in UK in Bitcoin Laundering Case

By Mark Johnston | 27/05/2024

At sentencing on Friday, the judge said Jian Wen ought to have known that she was dealing with criminal property.

Fraud, Scams & Cybercrime

Malaysia’s 1MDB Files Suit Against Top PetroSaudi Official

By Nithya Subramanian | 24/05/2024

The lawsuit seeks the return of $1.83bn, claiming 1MDB was misled into thinking King Abdullah owned a joint venture it invested in.

Anti-Money Laundering

Singapore Secures Seventh Conviction in Money Laundering Case

By Nithya Subramanian | 24/05/2024

Cambodian national Chen Qingyuan, who is wanted in China, has been sentenced to a 15-month jail term and will forfeit S$21mn.

Fraud, Scams & Cybercrime

Australia: Scam Losses Have Declined Further

By Sanday Chongo Kabange | 24/05/2024

Losses reported to Scamwatch, AFCX and ReportCyber declined in the January to March quarter, compared to the previous quarter.

Fraud, Scams & Cybercrime

“Ecosystem Approach” Vital to Combat Digital Fraud: HKMA

By Nithya Subramanian | 23/05/2024

Coordinated global efforts and information sharing initiatives are becoming more commonplace to combat fraud, but there is still work to do, said HKMA’s Carmen Chu.

Fraud, Scams & Cybercrime

Australia Anti-Scam Centre Publishes Fusion Cell Report

By Sanday Chongo Kabange | 23/05/2024

The investment scam fusion cell succeeded in removing scam ads from digital platforms, taking down investment scam websites, and diverting scam calls to recorded warnings.

Fraud, Scams & Cybercrime

Hong Kong IA Bars Ex-Prudential Agent for 14 Years

By Sanday Chongo Kabange | 22/05/2024

The IA said it found the agent’s conduct “so disgraceful” that it unanimously decided to elevate the penalty to a 14-year prohibition.

Fraud, Scams & Cybercrime

NYAG Secures $2bn Settlement from Crypto Lender Genesis

By Editors | 21/05/2024

New York Attorney General Letitia James said the settlement was the largest against a crypto firm in the state’s history.

Fraud, Scams & Cybercrime

Indonesia Launches Anti-Fraud Strategy Guide for ITSK Sector

By Editors | 19/05/2024

OJK said the guide will help strengthen the digital ecosystem in Indonesia and and build public trust.