Fraud, Scams & Cybercrime

Supervision & Enforcement

Australia’s Star Fined for Aiding Unlawful Credit Card Gambling

By Editors | 04/08/2023

Star Entertainment faces a $140,000 fine for facilitating illicit credit card gambling transactions and breaching exclusion orders.

Anti-Money Laundering

US Hacker Pleads Guilty Over 2016 Bitfinex Cyber Theft

By Editors | 04/08/2023

Ilya Lichtenstein admitted to being the original hacker in the 2016 cyberattack on Bitfinex and pleaded guilty to conspiracy to commit money laundering.

Fraud, Scams & Cybercrime

ACCC Permits Banks to Collaborate on Anti-Scam Standards

By Sanday Chongo Kabange | 03/08/2023

The ABA and its member banks are permitted to collaborate on the development of cross-industry standards to combat scams.

Fraud, Scams & Cybercrime

FSS Korea Confirms Embezzlement Case at BNK Kyongnam Bank

By Editors | 03/08/2023

A BNK Kyongnam Bank employee was found to have embezzled $44mn over 15 years by fabricating loan documents and using family accounts.

Fraud, Scams & Cybercrime

SEBI Proposes Revising Account Aggregator Framework to Prevent Fraud

By Ranamita Chakraborty | 03/08/2023

Securities and Exchange Board of India (SEBI) found that certain consumers are sharing confidential information with third parties and providing financial data to unauthorised entities.

Cryptocurrency

US SEC Files Charges Over $1bn in Unregistered Crypto Securities Offerings

By Editors | 01/08/2023

Richard Heart misappropriated at least $12mn of offering proceeds to purchase luxury goods, including the largest black diamond in the world.

Fraud, Scams & Cybercrime

India Supreme Court Criticises Government for Not Addressing Crypto Crime

By Editors | 01/08/2023

India’s Supreme Court asked the government whether it can establish a “national specialised agency” to investigate crypto-related crimes.

Fraud, Scams & Cybercrime

Bendigo Bank Blocks “High-risk” Payments to Crypto Exchanges

By Editors | 31/07/2023

New rules for instant payments to crypto exchanges are designed to primarily target investment scams, Bendigo Bank said.

Anti-Money Laundering

Malaysia Records Surging Suspicious Transactions and Scams

By Ranamita Chakraborty | 31/07/2023

Bank Negara Malaysia’s deputy governor revealed that the central bank’s financial intelligence unit saw a nearly 30 percent increase in suspicious transaction reports compared to the previous year.