Fraud, Scams & Cybercrime

Supervision & Enforcement

ASIC’s New 4-Year Plan Highlights Heavy Enforcement Focus

By Editors | 29/08/2023

ASIC will target scams, digitally-enabled misconduct, predatory lending, and greenwashing, while also “closely monitoring” the use of AI.

AI Risk & Governance

Weighing the Benefits and Risks of Generative AI in Financial Services

By Ranamita Chakraborty | 29/08/2023

Regulation Asia talks to experts to weigh the benefits and risks of deploying generative AI in the financial sector.

Payments & Settlements

Korea Passes Bill to Regulate Prepaid Business Operators

By Mark Johnston | 29/08/2023

The bill was prompted by a scandal at Mergepoint, which sold discount coupons but whose founders were later charged with fraud.

Anti-Money Laundering

HK Police Arrest 11 in HK$124m Money Laundering Case

By Editors | 27/08/2023

Police believe the laundered funds could be tied to more than 20 fraud cases, including email and loan scams, and commercial and investment fraud.

Fraud, Scams & Cybercrime

Thailand Threatens to Ban Facebook Over Fraudulent Crypto Ads

By Mark Johnston | 24/08/2023

Thailand has threatened to ban Facebook if it does not stop allowing fraudulent crypto ads on its platform.

Fraud, Scams & Cybercrime

How AI Can Combat Financial Crime

By Ranamita Chakraborty | 24/08/2023

Industry experts tell Regulation Asia how the financial sector’s battle against sophisticated financial crimes has led to a greater reliance on artificial intelligence (AI) to detect fraud and maintain customer trust.

Conduct, Culture & Accountability

Korea: BNK Establishes Dedicated Team to Enhance Internal Controls

By Sanday Chongo Kabange | 23/08/2023

The internal control analysis team is a response to multiple cases of misconduct by employees at BNK Kyongnam Bank.

PEPs & Sanctions

North Korea Stole $200m in Crypto in 2023: TRM Labs

By Mark Johnston | 23/08/2023

TRM Labs describes how North Korea has evolved its on-chain laundering methodologies to evade sanctions, law enforcement scrutiny, and tracing capabilities.

Fraud, Scams & Cybercrime

Trend of Rising Crypto Scams Seen In A&A Blockchain Case

By Ranamita Chakraborty | 23/08/2023

Industry experts spoke to Regulation Asia about crypto scams in the context of charges brought against four A&A Blockchain executives who scammed 12 individuals into investing in a crypto mining scheme.