Fraud, Scams & Cybercrime

PEPs & Sanctions

OFAC Sanctions Three for Facilitating Lazarus Group Activities

By Editors | 25/04/2023

China-based and Hong Kong-based crypto traders and a North Korean national were sanctioned for laundering illegal proceeds for Lazarus Group.

Fraud, Scams & Cybercrime

Australia to Establish SMS Sender ID Registry

By Editors | 24/04/2023

The move will add a “new layer of protection” for Australian consumers against scammers using these known brands to target and deceive.

Fraud, Scams & Cybercrime

19 Year Old Pleads Guilty for Involvement in OCBC Phishing Scams

By Editors | 24/04/2023

The youth is the sixth individual to be convicted among those accused of being involved in phishing scams.

Fraud, Scams & Cybercrime

ChatGPT Could ‘Turbocharge’ Fraud and Scams: US FTC Chair

By Editors | 23/04/2023

The FTC plans to use existing authorities to pursue companies who misuse AI to violate laws against unfair and deceptive acts.

Fraud, Scams & Cybercrime

Taiwan Targets Misleading Online Financial Advertisements

By Sanday Chongo Kabange | 23/04/2023

Meta is said to be addressing scams “more efficiently” than Google, after Taiwan regulators asked both to remove misleading financial ads from their platforms.

Fraud, Scams & Cybercrime

NBA Hall of Famer Shaquille O’Neal Served FTX Lawsuit

By Editors | 21/04/2023

Lawyers have been attempting to serve O’Neal since November 2022 but he reportedly evaded agents hired to serve the documents for months.

Anti-Money Laundering

BNM, FICG to Co-host AML/CFT Hackathon in June

By Editors | 21/04/2023

The hackathon will be hosted with regional FIU body FICG to “search for creative solutions to curb financial crimes, particularly scams”.

Fraud, Scams & Cybercrime

ASIC Calls on Banks to Reconsider Approach to Scams

By Editors | 20/04/2023

Only 13 percent of scam payments made by customers were detected and stopped by the big four banks. Customers were “overwhelmingly” the bearer of scam losses.

Fraud, Scams & Cybercrime

Australia Considers Outright Ban on Ransom Payments

By Mark Johnston | 19/04/2023

The ACSC recommends that victims of ransomware attacks never pay a ransom. The government is considering a law prohibiting attack victims from paying ransoms.