Fraud, Scams & Cybercrime

Fraud, Scams & Cybercrime

Korea FSS Seeks Max Penalties for Alleged Fraud by Kakao Unit

By Mark Johnston | 27/02/2024

The FSS has issued a preliminary notice to Kakao Mobility, accusing it of inflating its revenue and engaging in accounting fraud.

Market Abuse

Vietnam Police Recommend Prosecution of HoSE, SSC Officials

By Mark Johnston | 27/02/2024

A total of 51 suspects including officials are accused of market manipulation, fraud, abuse of power, and dissemination of false information.

Fraud, Scams & Cybercrime

MAS, SPF Probe Samlit Moneychanger for Fraudulent Activities

By Nithya Subramanian | 26/02/2024

The money remittance company has informed the Monetary Authority of Singapore that it is planning to surrender its payment services licence.

Anti-Money Laundering

S. Korea Has a New System for Tracking Crypto Tax Evaders

By Mark Johnston | 25/02/2024

Gyeonggi Province has been using a new digital tracking system that reduces investigation times from 6 months to just 15 days.

Fraud, Scams & Cybercrime

HK Crime Cases Involving Crypto Have Tripled Since 2021

By Mark Johnston | 25/02/2024

The SFC and police recorded 3,415 cases of virtual asset crimes in 2023, involving around HKD 4.4 billion (USD 562 million).

Fraud, Scams & Cybercrime

HK Banks to Introduce Anti Malware Security Measures This Month

By Sanday Chongo Kabange | 25/02/2024

The new security measures on banking apps will trigger immediate actions when malware or suspicious apps are detected on customers’ devices.

Fraud, Scams & Cybercrime

Montenegro Court to Extradite Do Kwon to the US, Not Korea

By Mark Johnston | 23/02/2024

Montenegro’s High Court decided to approve the US extradition request over South Korea’s, citing the gravity of the charges and the evidence presented by US authorities.

Anti-Money Laundering

FATF Plenary Concludes With Beneficial Ownership, NPOs, Crypto in Focus

By Manesh Samtani | 23/02/2024

Kenya and Namibia were added to the FATF’s grey list while Barbados, Gibraltar, Uganda and the UAE were removed.

Cryptocurrency

Thai SEC Passes Resolution to Revoke Zipmex Crypto Licence

By Editors | 23/02/2024

The SEC says Zipmex’s business licence needs to be revoked to prevent further harm to clients’ interests, after the company failed to resolve deficiencies by another deadline.