Fraud, Scams & Cybercrime

    Reporting on fraud schemes, cyber attacks targeting financial systems, regulatory responses, and advancements in fraud prevention technologies.

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    Anti-Money Laundering

    Metaverse Tools Crucial in Fight Against Cryptocurrency Crime: INTERPOL

    By Ranamita Chakraborty | 23/01/2024

    Interpol’s white paper highlights blockchain forensics as a vital tool in combating Metacrimes linked to cryptocurrencies, including money laundering and fraud.

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    Fraud, Scams & Cybercrime

    HKMA Calls on Banks to Join SMS Sender Registration Scheme

    By Editors | 23/01/2024

    28 banks in Hong Kong have already registered, completed testing, and will begin using Sender IDs from 28 January 2024.

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    PEPs & Sanctions

    Australia Announces First Use of Cyber Sanctions Powers

    By Editors | 23/01/2024

    Australia imposed sanctions against Russian national Aleksandr Ermakov, who was linked to the 2022 Medibank breach.

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    Fraud, Scams & Cybercrime

    Australian Court Fines ME Bank for Misleading Home Loan Customers

    By Editors | 19/01/2024

    ME Bank sent inaccurate home loan information to its customers and failed to provide written notice about annual interest rate and repayment amount changes.

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    Anti-Money Laundering

    Cryptos Popular Among Money Launderers in SE Asia: UN Report

    By Nithya Subramanian | 18/01/2024

    Tether has emerged as a preferred choice for regional cyberfraud operations due to its stability and the ease, anonymity, and low fees of its transactions.

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    Fraud, Scams & Cybercrime

    Local Banks to Improve Money-locking Features: ABS

    By Nithya Subramanian | 15/01/2024

    Banks need to be prepared as scammers will continuously modify their techniques, said ABS Director Ong-Ang Ai Boon.

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    Fraud, Scams & Cybercrime

    Singapore Police Using RPA Tech to Disrupt Scams

    By Editors | 12/01/2024

    RPA technology has enabled the Police to automate information sharing, information processing, and the mass distribution of SMS alerts.

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    Cryptocurrency

    US SEC Approves Rule Changes Permitting Bitcoin ETFs

    By Nithya Subramanian | 11/01/2024

    The regulator has also announced investor protection requirements, adding that exchanges will have to adhere to rules to prevent fraud and manipulation.

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    Anti-Money Laundering

    RUSI, FFIS Urge Greater Cross-Sector Collaboration on FinCrime

    By Ranamita Chakraborty | 11/01/2024

    The new report highlighted the underutilisation of payments infrastructure in economic crime analysis, citing challenges in policymaking.

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    Fraud, Scams & Cybercrime

    SFC Issues New Alert on Suspicious Real Estate Investment Products

    By Sanday Chongo Kabange | 10/01/2024

    The SFC has warned the public to be wary of Kaplink 006 Limited and Kaplink 007 Limited, involving real property development projects in Australia.

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