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Fraud, Scams & Cybercrime
Reporting on fraud schemes, cyber attacks targeting financial systems, regulatory responses, and advancements in fraud prevention technologies.
Conduct, Culture & Accountability
Temasek Cuts Pay of Investment Team After FTX Losses
By Karen Ng | 29/05/2023
Temasek said members of its investment team took collective accountability for the investment in FTX and hence took a pay cut.
Fraud, Scams & Cybercrime
Hong Kong Police Launch “CyberDefender Metaverse” Platform
By Editors | 29/05/2023
The platform is designed to help educate the public about cyber crimes in the Metaverse, especially those involving virtual assets.
PEPs & Sanctions
US, South Korea Announce New Sanctions on DRPK Cyber Actors
By Editors | 27/05/2023
One of the entities jointly sanctioned by the US and South Korea employs “thousands” of North Korean IT workers that operate in Russia, China and Laos.
Fraud, Scams & Cybercrime
PITCH! REGTECH: Drawing the Line Between RegTech and Frustrated Customers
By Karen Ng | 25/05/2023
As they embark on the RegTech race, banks cannot ignore frustrated customers.
Fraud, Scams & Cybercrime
HK SFC Disqualifies Former Luxey International Directors
By Ranamita Chakraborty | 25/05/2023
A Hong Kong court found two former Luxey International directors responsible for fraudulently inflating the price of a corporate acquisition and pocketing the gains.
Fraud, Scams & Cybercrime
PITCH! REGTECH: Rising Digital Crimes Give Urgency to Fraud Detection
By Karen Ng | 25/05/2023
The prevalence of digital crimes has given urgency to the need by banks to develop cutting-edge fraud detection systems, says DBS Bank’s head of legal & compliance Lam Chee Kin.
Cybersecurity
Five Eyes Agencies Warn of State Sponsored Cyber Attacks
By Editors | 25/05/2023
Chinese foreign ministry spokeswoman Mao Ning said the joint advisory is a “collective disinformation campaign” from the “empire of hacking”.
Anti-Money Laundering
Shanghai Police Uncover Money Laundering via Livestreamers
By Mark Johnston | 25/05/2023
Shanghai police have uncovered a scheme involving fraudsters who tipped livestreamers to conceal their illicit funds.
Fraud, Scams & Cybercrime
SG Police Warns of Scams From Scanning QR Codes
By Karen Ng | 24/05/2023
The increasing usage of QR codes for cashless payments have led to a spike in phishing scams in Singapore.
Fraud, Scams & Cybercrime
China’s Top Prosecutor Warns of NFT-related Fraud and Risks
By Karen Ng | 22/05/2023
The Supreme People’s Procuratorate said prohibiting transactions in cryptocurrencies is an important safeguard for the digital collectibles industry.
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