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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
Australian Banks Launch New Fraud Reporting Platform
By Editors | 16/05/2023
The platform streamlines communications so banks can alert each other in real time when funds have been sent to a suspected scammer’s account.
Fraud, Scams & Cybercrime
Thai Couple Sentenced to 12,000+ Year Jail Term Over Ponzi Scheme
By Editors | 15/05/2023
Husband and wife are expected to be in prison for 20 years each, because of a law that limits total jail time.
Fraud, Scams & Cybercrime
Creditors of Bankrupt Crypto Firm QuadrigaCX to Get Payout
By Mark Johnston | 15/05/2023
The payout amounts to about 13 percent of the value of creditor claims filed against QuadrigaCX, which was found to be a Ponzi scheme and a fraud.
Supervision & Enforcement
SEBI Penalises Four Former Officials of Karvy Stock Broking
By Mark Johnston | 12/05/2023
SEBI fined the four individuals a combined INR 19 million over Karvy Stock Broking’s misappropriation of client assets in 2019.
Market Abuse
S. Korea: Key Suspect Detained in Stock Manipulation Case
By Editors | 10/05/2023
Ra Deok-yeon allegedly used order matching to inflate stock prices and defraud investors. Two other key suspects were also detained.
Anti-Money Laundering
Australia Budget Offers Funding for AML, Scams, Cyber
By Manesh Samtani | 10/05/2023
Funding is provided to AUSTRAC, the Attorney-General’s Department, ASIC, the ACCC, and the launch of an SMS Sender ID Registry.
Fraud, Scams & Cybercrime
MAS to Consult on Scam Loss Sharing Framework in Q3
By Manesh Samtani | 09/05/2023
Senior Minister Tharman Shanmugaratnam said the framework will include obligations for telcos, not just FIs and consumers.
Fraud, Scams & Cybercrime
Chinese Police Arrest Billionaire Tycoon for Illegal Fundraising
By Editors | 09/05/2023
Police arrested the owner of commodities giant Cedar Holdings, which raised almost $3bn from investors which it has been unable to repay.
Fraud, Scams & Cybercrime
HK Police Launch Advisory Panel to Help Combat Cybercrime
By Editors | 09/05/2023
The panel members will share recent technological developments, information on potential threats, and practical advice on police technologies.
Anti-Money Laundering
HKMA Calls for Broader Adoption of Network Analytics by Banks
By Manesh Samtani | 09/05/2023
Around 60 percent of retail banks in Hong Kong are now deploying network analytics. Some are using this capability to file “super STRs”.
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