Fraud, Scams & Cybercrime

Anti-Money Laundering

Third Man Jailed in Singapore’s Billion Dollar Money Laundering Case

By Nithya Subramanian | 17/04/2024

Chinese national Wang Baosen jailed for 13 months and required to forfeit over S$8mn in assets as part of his plea deal.

Fraud, Scams & Cybercrime

No Criminal Misconduct Found in EY’s Wirecard Audits

By Editors | 17/04/2024

EY could have faced unlimited liability for claims of damages from Wirecard’s administrator and former shareholders if criminal misconduct was found.

Trade Based Money Laundering

Copper Being Disguised as Scrap for Russia-China Trade – Report

By Editors | 16/04/2024

Chinese firms are using this mechanism to benefit from lower tax and to make it more difficult to trace the copper to its Russian origin.

Fraud, Scams & Cybercrime

SFC Orders Trading Suspension of Listed Fruit Products Seller

By Editors | 16/04/2024

The company was earlier ordered to reconstitute its board of directors and engage an independent manager over more than $60m in missing funds.

Fraud, Scams & Cybercrime

Three Crypto Firms Enter Into Liquidation in Australia

By Editors | 16/04/2024

A$55mn worth of assets belonging to a crypto fund operator have been frozen by court order, after investors became concerned about the fund’s management.

Fraud, Scams & Cybercrime

Australia: New ID Register Blocks 300,000 Fraud Attempts

By Nithya Subramanian | 15/04/2024

Following the Optus breach, a new register was set up to prevent compromised personal credentials from being used as forms of identity.

Fraud, Scams & Cybercrime

Thailand to Tighten Rules for P2P Trading of Crypto

By Nithya Subramanian | 15/04/2024

Thai Minister calls on SEC to extend existing crypto regulations to cover P2P channels as a way to combat fraud and scams.

Cryptocurrency

NZ Official Hints at Future Crypto Regulatory Framework

By Sanday Chongo Kabange | 15/04/2024

Andrew Bayly acknowledged the risk of regulatory arbitrage “if New Zealand does not keep in step with” major digital asset regulatory developments.

PEPs & Sanctions

US and EU Announce New Sanctions Targeting Hamas

By Editors | 15/04/2024

The US targeted leaders of Hamas cyber and drone operations. The EU targeted three entities linked to human rights abuses.