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Fraud, Scams & Cybercrime
Reporting on fraud schemes, cyber attacks targeting financial systems, regulatory responses, and advancements in fraud prevention technologies.
Fraud, Scams & Cybercrime
Korea Passes Amendment to Address Account Coercion Scams
By Manesh Samtani | 05/02/2024
The amendment would make it easier for victims of account coercion scams to lift account suspensions more quickly.
Fraud, Scams & Cybercrime
HK, SG Take Down 139 Servers in INTERPOL Cybercrime Operation
By Editors | 05/02/2024
Operation Synergia, launched in response to the growing threat of transnational cybercrime, involved more than 50 participating countries.
Cybersecurity
Telecom Breach Exposes Personal Information of 750 Million Indians
By Ajoy K Das | 05/02/2024
Billed as biggest ever leak of its kind, the breach has exposed names, mobile phone numbers, addresses and Aadhaar card numbers.
AI Risk & Governance
ASEAN Ministers Target AI Governance, Data Protection, Scam Prevention
By Ranamita Chakraborty | 05/02/2024
The ASEAN Digital Ministers Meeting launched AI governance and data protection guides with Thailand proposing an anti-online scam working group.
Fraud, Scams & Cybercrime
Online Criminal Harms Act Takes Effect in Singapore
By Nithya Subramanian | 05/02/2024
The law has been enabled to take quick actions, giving the government power to issue orders restricting the exposure of users to criminal activities on online platforms.
Fraud, Scams & Cybercrime
Multinational Firm Scammed by Deepfake Tech in Hong Kong
By Editors | 05/02/2024
A finance worker was duped in a video call by a deepfake version of his company’s CFO to transfer HKD 200 million.
PEPs & Sanctions
OFAC Sanctions Four HK Entities for Supporting Iran
By Editors | 05/02/2024
Three of the Hong Kong companies operated as “covert procurement entities” for Iran’s weapons programmes. The fourth sold Iranian commodities to benefit Iran.
Cryptocurrency
Hong Kong Planning Regulatory Framework for OTC Crypto Venues
By Manesh Samtani | 03/02/2024
Some OTC venues including physical shops played a role in fraud cases last year, said top Hong Kong official Christopher Hui.
PEPs & Sanctions
OFAC Sanctions Iranians Over Cyber Attacks on US Water Plants
By Editors | 03/02/2024
No critical services were disrupted in the attacks, but OFAC said the US is “deeply concerned” about attacks that target critical infrastructures.
Anti-Money Laundering
US DOJ Unseals More Charges in BTC-e Case
By Editors | 03/02/2024
Aliaksandr Klimenka faces 25 years in prison for operating unlicensed money services business and laundering criminal proceeds.
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