Fraud, Scams & Cybercrime

Fraud, Scams & Cybercrime

Korea Issues New Standards for Fraud Prevention, Loss Sharing

By Manesh Samtani | 08/10/2023

19 banks have agreed to compensate customers for unauthorised transactions based on the sufficiency of their prevention efforts and the degree of customer negligence.

Fraud, Scams & Cybercrime

BNM Working to Streamline Industry Response to Scams

By Manesh Samtani | 05/10/2023

BNM governor Datuk Abdul Rasheed Ghaffour discussed efforts underway in Malaysia to tackle the challenges of scams.

Fraud, Scams & Cybercrime

SFC, HKPF Form Dedicated Working Group on VATPs

By Sanday Chongo Kabange | 05/10/2023

The working group will facilitate information sharing and collaboration on monitoring and investigations involving crypto platforms.

Fraud, Scams & Cybercrime

HK, Macau Police Make Four New Arrests in JPEX Case

By Manesh Samtani | 03/10/2023

Two Hong Kong residents were arrested in Macau and two more in Hong Kong. One was found with documents that were shredded and bleached.

Cryptocurrency

SFC Publishes Names of VATP Licence Applicants

By Editors | 01/10/2023

Four VATP operators have submitted licence applications to the SFC. Six entities are listed as ‘suspicious VATPs’.

Supervision & Enforcement

Evergrande Chairman Suspected of “Illegal Crimes”

By Editors | 28/09/2023

Evergrande said its chairman Hui Ka Yan was placed under “residential surveillance” due to his suspected involvement in “illegal crimes”.

Cryptocurrency

ASIC Punishes Fintech Firm for Misrepresenting Crypto Product

By Sanday Chongo Kabange | 28/09/2023

Bobbob and its sole director are prohibited from providing financial services to retail clients for 12 months and paid A$53,000 in penalties.

Fraud, Scams & Cybercrime

DBS, UOB Add Anti-Malware Feature to Banking Apps

By Editors | 28/09/2023

Last month, OCBC became the first Singapore bank to introduce the new security feature. Citi, DBS and UOB have now also added the feature.

Fraud, Scams & Cybercrime

Hackers Steal $200m from Mixin in 2023’s Biggest Crypto Hack

By Editors | 27/09/2023

Mixin has since offered the attacker a $20mn “BUG Bounty Reward” for the return of its users’ funds, and that the losses may not be as significant as initial estimates.