Fraud, Scams & Cybercrime

Fraud, Scams & Cybercrime

Korea Issues Revised Guidelines on Accounting Fraud Investigations

By Sanday Chongo Kabange | 17/07/2023

The guidelines require external auditors to notify companies of any accounting fraud worth more than KRW 5 billion.

Fraud, Scams & Cybercrime

BSEC Chairman Under Scrutiny for Links to International Fraud

By Manesh Samtani | 17/07/2023

BSEC chairman Shibli Rubayat ul Islam allegedly received $800,000 in payments from accounts linked to a $13mn fraud against Hong Kong-based Ming Global.

Fraud, Scams & Cybercrime

US Agencies Settle Charges Against Crypto Lender Celsius Network

By Manesh Samtani | 16/07/2023

Celsius Network and founder Alexander Mashinsky charged for failing to register crypto lending product, defrauding customers, manipulating price of CEL token.

Fraud, Scams & Cybercrime

Lessons in Liability: Applying Card Fraud Dispute Frameworks to Digital Banking Scams

By Tim Dalgleish | 16/07/2023

Tim Dalgleish discusses the implications of new scam liability regulations, taking lessons from card fraud dispute frameworks.

Fraud, Scams & Cybercrime

UK Supreme Court Rules for Barclays in APP Fraud Case

By Manesh Samtani | 14/07/2023

Customer argued Barclays owed her a duty to not comply with her instructions if the bank suspected she was being defrauded.

Conduct, Culture & Accountability

SFC, AFRC to Jointly Target Misconduct By Listed Issuers

By Sanday Chongo Kabange | 14/07/2023

The SFC and AFRC will work together to address misconduct involving dubious loans issued by listed companies to third parties.

Fraud, Scams & Cybercrime

BOT Offers Update on Implementation of Anti-Fraud Measures

By Mark Johnston | 14/07/2023

Banks have stopped sending links via SMS, email, and social media. Mobile banking users are also restricted to using just one device.

Fraud, Scams & Cybercrime

Australian Banks Push Back on Mandatory Scam Reimbursements

By Editors | 13/07/2023

CBA deputy CEO David Cohen warned of a “moral hazard trap”. ANZ CEO Shayne Elliott said the UK voluntary code model wouldn’t stop scams.

Fraud, Scams & Cybercrime

China’s NFRA Warns Consumers of Fake Financial Regulator Scams

By Mark Johnston | 13/07/2023

NFRA has issued a risk alert to inform consumers of various fraudulent schemes involving impersonation of financial regulators and their staff.