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Fraud, Scams & Cybercrime
Reporting on fraud schemes, cyber attacks targeting financial systems, regulatory responses, and advancements in fraud prevention technologies.
Climate Risk
Regulators Urged to Consider Climate Litigation as Relevant Financial Risk
By Ranamita Chakraborty | 22/06/2023
Major carbon-producing companies saw their firm value decrease following climate-related lawsuits and further reduce when unfavourable judgments were made.
Cybersecurity
Embattled PwC Caught up in Russian Cyberattack
By Editors | 22/06/2023
A Russian hacker group known as CL0P exploited a vulnerability in MOVEit, a third-party software platform used for secure data transfer.
Fraud, Scams & Cybercrime
US DOJ Charges Russian Hacker for LockBit Ransomware Attacks
By Mark Johnston | 22/06/2023
Ruslan Astamirov is the third person to be charged over the LockBit ransomware variant. A global cybersecurity advisory has also been issued.
Cryptocurrency
Cuscal Introduces New Requirements for Crypto Firms in Australia
By Ranamita Chakraborty | 22/06/2023
Digital currency exchanges have to meet additional requirements to continue using services on Cuscal’s platform.
Fraud, Scams & Cybercrime
Terra Founder Jailed for Four Months in Montenegro
By Mark Johnston | 22/06/2023
Do Kwon and another former Terra executive were arrested in Montenegro in March for possessing fake passports.
Anti-Money Laundering
AMLC Sheds Light on Terrorism Financing Threats Facing Philippines
By Editors | 21/06/2023
New risk assessment highlights the use of social media platforms and cryptocurrencies by terrorist groups to raise funds.
Fraud, Scams & Cybercrime
Taiwan Launches Action Plan to Boost Anti-Fraud Effort
By Editors | 21/06/2023
The action plan includes measures to identify, block, prevent and punish fraud, and improve seizure and recovery practices.
Fraud, Scams & Cybercrime
HKMA Directs Banks to Enhance Protections for Payment Card Customers
By Sanday Chongo Kabange | 21/06/2023
Banks are directed to comply with new guidance by end June 2023. For enhancements that require system changes, banks should comply within six months.
Anti-Money Laundering
Singapore Sentences Two Former Wirecard Employees to Jail
By Karen Ng | 21/06/2023
These are the first convictions in the Wirecard scandal that brought down the German payment processor.
Fraud, Scams & Cybercrime
Hong Kong Launches AML Information Sharing Platform for Banks
By Manesh Samtani | 21/06/2023
The five banks participating in the pilot phase are BOCHK, Standard Chartered, HSBC, Hang Seng Bank, and ICBC Asia.
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