Fraud, Scams & Cybercrime

Cryptocurrency

New York AG Files Suit Against Crypto Exchange CoinEx

By Editors | 28/02/2023

CoinEx falsely represented itself as being an exchange and did not register as a securities and commodities broker-dealer.

Fraud, Scams & Cybercrime

US SEC Penalises SPAC for Allowing Embezzlement by CFO

By Editors | 27/02/2023

A lack of internal controls and oversight allowed the SPAC’s CFO to misappropriate cash and falsify financial reports for over a year.

Fraud, Scams & Cybercrime

US Prosecutors Unveil More Charges Against FTX Founder

By Editors | 26/02/2023

The additional charges allege that Sam Bankman-Fried conspired to commit bank fraud and to make more than 300 illegal political donations.

Fraud, Scams & Cybercrime

US Indicts Russian Actors Over Crypto Pyramid and Ponzi Scheme

By Editors | 24/02/2023

The charges include one count of conspiracy to commit wire fraud for each of the four defendants, who were among the 11 charged by the SEC last year.

Anti-Money Laundering

Singapore MHA to Amend Laws to Tackle Money Mules

By Editors | 22/02/2023

MHA is also looking to introduce new provisions and penalties to the CDSA  to make individuals more accountable and curb the abuse of Singpass.

Conduct, Culture & Accountability

Australia: Big Banks to Face Scrutiny from Parliamentary Committee

By Sanday Chongo Kabange | 20/02/2023

The big four will face questions about how they set interest rates, protect customers from scams, and support the flow of credit to small businesses.

Fraud, Scams & Cybercrime

Australia to Explore Introduction of SMS Sender ID Register

By Editors | 18/02/2023

The government has asked ACMA to investigate different SMS sender ID register models that can help prevent scams and to report back to the government.

Fraud, Scams & Cybercrime

Trafigura Suffers $577m Fraud Involving Fake Nickel Shipments

By Editors | 17/02/2023

156 containers that were supposed to contain nickel turned out to contain carbon steel, which is worth a fraction of the price.

Fraud, Scams & Cybercrime

Crypto Crime Rose to Over $20b in 2022: Chainalysis

By Editors | 17/02/2023

Overall, Chainalysis says illicit activity in cryptocurrency remains a small share of total volume at less than 1 percent.