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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
HKMA Launches New Service to Alert FPS Users of Potential Fraud
By Sanday Chongo Kabange | 29/11/2023
The new alert mechanism will alert banking customers when an FPS proxy ID is flagged as “High Risk” on the Scameter search engine.
Fraud, Scams & Cybercrime
Singapore Banks to Roll Out “Money-locking” Anti-Scam Measure
By Editors | 28/11/2023
‘Locked up’ funds will remain safe, even if the customer’s mobile devices or bank account login credentials fall into the wrong hands.
Fraud, Scams & Cybercrime
HK SFC Under Fresh Scrutiny Over Crypto Platform Hounax
By Sanday Chongo Kabange | 28/11/2023
The SFC is being accused of playing a “passive role” by not blocking suspicious crypto trading platform Hounax and preventing it from contacting the public.
Fraud, Scams & Cybercrime
Taiwan Banks Blocked TWD 5.5 billion in Fraud in 2023
By Mark Johnston | 28/11/2023
CTBC Bank, Cathay United Bank and Chunghwa Post each blocked more than 1,100 fraud attempts from Q1 to Q3.
Fraud, Scams & Cybercrime
HK Police Arrest 30 in Connection with Alleged JPEX Fraud
By Editors | 28/11/2023
A total 66 individuals have now been arrested, though they have not yet been charged and have all been released on bail pending investigation.
Supervision & Enforcement
Chinese Police Launch Criminal Probe into Zhongzhi Group
By Mark Johnston | 27/11/2023
The announcement came just days after Zhongzhi, one of the largest conglomerates in China’s shadow finance sector, said it was insolvent.
Fraud, Scams & Cybercrime
HK Police, Banks Inaugurate New “Anti-Deception Alliance”
By Editors | 27/11/2023
Through the Alliance, ten participating banks will work alongside the police to provide real-time assistance in detecting, disrupting and deterring scams.
Fraud, Scams & Cybercrime
CSRC Probes Private Funds Over False Disclosures
By Editors | 27/11/2023
The CSRC said two private funds engaged in a multi-layered investment scheme, with false information disclosure and possible criminal behavior.
Fraud, Scams & Cybercrime
Montenegro Court Approves Extradition of Terra Founder
By Mark Johnston | 27/11/2023
The court said both South Korea and the US have met Montenegro’s legal requirements for Do Kwon’s extradition.
Fraud, Scams & Cybercrime
Australia Unveils First Quarterly Report from New Anti-Scam Centre
By Editors | 26/11/2023
The quarter ended with reported scam losses of A$29.8mn in September 2023, the lowest reported in a single month since October 2021.
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