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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
Hong Kong Announces New Measures to Combat Phone Scams
By Editors | 12/04/2023
Implementation of an “SMS sender name” registration system will begin in the banking industry by the end of this year.
Anti-Money Laundering
FATF Holds First In-Person Joint Experts Meeting Since 2019
By Editors | 11/04/2023
The three day event covered themes including cyber-enabled fraud, terrorist financing through crowdfunding, and the risks and challenges associated with hawala.
Fraud, Scams & Cybercrime
US Authorities Charge Fintech Founder for Defrauding JPMorgan
By Editors | 10/04/2023
The fintech founder fraudulently induced JPMorgan to acquire her startup in September 2021 by making up data, the SEC said.
Fraud, Scams & Cybercrime
Wanton Wiper Malware and the Weaponization of Legitimate Tools
By Lotem Finkelstein | 07/04/2023
A bigger threat than ransomware is the reemergence of malware that destroys sensitive data, says Lotem Finkelstein.
Fraud, Scams & Cybercrime
‘Genesis’ Darknet Market Sanctioned and Shuttered by Authorities
By Editors | 06/04/2023
Law enforcement arrested 119 people and conducted 208 property searches in connection with Genesis Market, a criminal marketplace believed to be located in Russia.
Fraud, Scams & Cybercrime
UK Steel Traders Jailed for $500m Trade Finance Fraud
By Mark Johnston | 05/04/2023
Three senior executives of Balli Steel were sentenced to prison for using fake documents and contracts to obtain loans.
Fraud, Scams & Cybercrime
Germany Bans EY for Two Years Over Wirecard Audits
By Editors | 04/04/2023
Germany’s auditor regulator also fined the company €500,000, and five of its current and former auditors between €23,000 and €300,000.
Supervision & Enforcement
US SEC Fines Merrill Lynch for FX Fee Disclosure Failures
By Editors | 04/04/2023
Merrill Lynch agreed to pay disgorgement, prejudgment interest, and a civil penalty totaling more than $9.5mn and to distribute funds to harmed clients.
Fraud, Scams & Cybercrime
Taiwan to Unveil New Anti-Fraud Measures Within One Month
By Editors | 01/04/2023
The Taiwan government has reportedly been seeking assistance from companies including Google and Meta to help combat online fraud.
Fraud, Scams & Cybercrime
UK Court Allows Wirecard-related Fraud Suit to Proceed
By Editors | 31/03/2023
An Indian business was sold to a Mauritius-based fund in 2015, weeks before Wirecard bought the company for a price ten times higher.
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