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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
FFC Asia 2023: HKMA Says Information Sharing Key to Fighting Fraud
By Karen Ng | 13/07/2023
HKMA says information sharing among banks will be key to tackling the new challenges in the fraud and financial crime landscape.
Fraud, Scams & Cybercrime
Woori Bank Caught Up in Crypto-related Embezzlement Scandal
By Sanday Chongo Kabange | 13/07/2023
On of Woori Bank’s employees embezzled about KRW 90 million and used it for personal investments in crypto.
Stablecoins
Terra Co-Founder Daniel Shin Faces First Terra Hearing in Korea
By Mark Johnston | 13/07/2023
Daniel Shin and seven other Terra staff are accused of violating capital markets laws, making false representations, and causing the de-pegging of TerraUSD.
Fraud, Scams & Cybercrime
Thailand Sets Up Central Fraud Registry
By Karen Ng | 12/07/2023
AI technology will be used, via the new registry, to help banks prevent suspicious accounts from completing fraudulent transactions.
Fraud, Scams & Cybercrime
Korea Prosecutors to Form New Unit Dedicated to Crypto Crime
By Sanday Chongo Kabange | 12/07/2023
The new Virtual Asset Joint Investigation Unit will launch by the end of the month and focus on investigating crypto-related crime including fraud.
Fraud, Scams & Cybercrime
Singapore’s Cyber Security Agency Inks MOU in Cybercrime Fight
By Karen Ng | 11/07/2023
The Cyber Security Agency of Singapore aims to protect financial institutions against cybercrime through information sharing and preparation against cyber-attacks.
Fraud, Scams & Cybercrime
US Indicts Moroccan for Crypto and NFT Spoofing Scam
By Mark Johnston | 11/07/2023
A Moroccan man is accused of stealing cryptocurrency and NFTs by creating a fake OpenSea website.
Fraud, Scams & Cybercrime
MAS Urges Banks to Stop Use of SMS OTP
By Karen Ng | 10/07/2023
The MAS is urging banks to move away from the sole reliance on SMS OTP as the only authentication factor for transactions.
Fraud, Scams & Cybercrime
NAB Becomes First Aussie Bank to Remove Links From Text Messages
By Sanday Chongo Kabange | 10/07/2023
The move is one of 64 projects completed or underway across NAB to help address the “global scam epidemic”.
Fraud, Scams & Cybercrime
India: Former Chair of Coop Bank Arrested on Fraud Allegations
By Sanday Chongo Kabange | 06/07/2023
India’s Enforcement Directorate arrested the ex-chairman of Seva Vikas Co-operative Bank in connection with a fraud investigation.
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