Fraud, Scams & Cybercrime

Anti-Money Laundering

Singapore Court Jails Businessman in Wirecard Case

By Karen Ng | 28/06/2023

This is the third jail sentence relating to the Wirecard case handed out by the Singapore court within the past week.

Cryptocurrency

US Supreme Court Rules in First Crypto-related Case

By Editors | 28/06/2023

The ruling will halt class-action lawsuits against Coinbase in two California cases, and move both cases into arbitration.

Fraud, Scams & Cybercrime

New Report Details Misuse of Customer Funds by FTX

By Manesh Samtani | 28/06/2023

FTX was able to remove customers’ money from their primary deposit accounts by making misrepresentations to banks.

Anti-Money Laundering

Russia Identified as “High Risk” Jurisdiction in New Report

By Manesh Samtani | 27/06/2023

AML think tank Themis says the threat Russia poses to the integrity of the global financial system has been increasing.

Fraud, Scams & Cybercrime

Malaysia Threatens Legal Action Over ‘Harmful’ Facebook Content

By Sanday Chongo Kabange | 26/06/2023

Bursa Malaysia has backed the communications regulator’s move to take action against Meta for its failure to remove scam posts.

Trade Based Money Laundering

ABS Launches New Registry to Counter Trade Finance Fraud

By Manesh Samtani | 25/06/2023

Participating banks can register new trade financing transactions and receive real-time notifications if instances of duplication are detected.

Anti-Money Laundering

Switzerland Freezes $26m in Crypto Linked to Terra Collapse

By Editors | 25/06/2023

The assets, held at digital asset bank Sygnum, were frozen in response to a request from US and Korean authorities.

Stablecoins

Upper House of UK Parliament Approves Financial Services and Markets Bill

By Editors | 23/06/2023

The bill will give regulators powers to regulate stablecoins and crypto activities and enable the PSR to force banks to reimburse APP fraud victims.

Cybersecurity

US DOJ Launches New Section to Focus on Cyber Threats

By Mark Johnston | 23/06/2023

The new section will focus national security cyber threats, such as state-sponsored hackers, cybercriminals, and money launderers.