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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
US Court Authorises Emergency Freeze on Crypto Hedge Fund Assets
By Editors | 08/03/2023
BKCoin and one of its co-founders commingled client money and used some make “Ponzi-like payments” to other investors.
Trading & Investment
Foreign Firms Announce New Mutual Fund Launches in China
By Manesh Samtani | 06/03/2023
Neuberger Berman and Fidelity International are launching new funds. AllianceBernstein won approval. UBS is planning to apply. VanEck is withdrawing.
Cybersecurity
US Unveils New Cybersecurity Strategy Focusing on Ransomware Attacks
By Mark Johnston | 05/03/2023
The strategy involves leveraging international cooperation, investigating crimes, bolstering infrastructure resilience, and addressing virtual currency abuse.
Anti-Money Laundering
FATF Explores Financial Crime Risks in Art and Antiquities Markets
By Mark Johnston | 03/03/2023
New report highlights the need for greater awareness and understanding of the risks and collaboration across public and private sectors.
Trading & Investment
Malaysia Budget 2023 Offers Measures to Boost Capital Market
By Editors | 03/03/2023
The government will allow the issuance of dual-class shares, expand tax deductions for listing expenses, and provide financing for SMEs.
Fraud, Scams & Cybercrime
Korea to Address Phishing Scams Targeting Crypto Assets
By Editors | 01/03/2023
Planned legislative changes will include crypto-related phishing scams under the existing law on telecommunications-based financial fraud.
Fraud, Scams & Cybercrime
Third FTX Executive Pleads Guilty to US Fraud Charges
By Manesh Samtani | 01/03/2023
Nishad Singh created the software code that allowed FTX customer funds to be diverted to the Alameda Research hedge fund.
Fraud, Scams & Cybercrime
Class Action Alleges Banks, VC Firms Were Complicit in FTX Fraud
By Manesh Samtani | 01/03/2023
The lawsuit seeks damages from four banks, one banking executive, ten investment firms, a law firm, and two accounting firms.
Fraud, Scams & Cybercrime
Five Banks Settle Allegations They Aided Ponzi Scheme
By Mark Johnston | 28/02/2023
Toronto-Dominion Bank, HSBC Holdings, Independent Bank Group, Societe Generale and Trustmark Corp agreed to pay a combined USD 1.6 billion.
Fraud, Scams & Cybercrime
SFC Bans Former Dah Sing Bank Representative for Life
By Editors | 28/02/2023
The former relationship manager convinced an elderly customer to redeem an investment and then used the proceeds to repay his own debts.
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