Fraud, Scams & Cybercrime

Anti-Money Laundering

HKMA to Scale Up AML Efforts in 2023: Carmen Chu

By Bradley Maclean | 04/01/2023

Executive Director Carmen Chu discusses the actions the HKMA is taking to disrupt AML threats to Hong Kong, and technology initiatives that are making a difference.

Fraud, Scams & Cybercrime

Anti Fraud: Korea Launches Bulk Account Suspension Service

By Editors | 04/01/2023

The new service allows financial consumers to suspend payments from all of their accounts at banks and non-banks at once.

Cryptocurrency

US Banking Regulators Issue Statement Warning of Crypto Risks

By Editors | 04/01/2023

“It is important that risks related to the crypto-asset sector that cannot be mitigated or controlled do not migrate to the banking system,” the statement says.

Fraud, Scams & Cybercrime

US Court Sets October Date for Bankman-Fried Trial

By Manesh Samtani | 04/01/2023

Bankman-Fried pleaded not guilty to all eight charges against him. The court set a 2 October 2023 date for trial, which is expected to last about four weeks.

Fraud, Scams & Cybercrime

China: Two Former P2P Lending Executives Jailed for 20 Years

By Editors | 03/01/2023

Two executives of now-defunct Tuandai.com were convicted for fundraising fraud and illegal collection of public deposits, among other charges.

Reporting & Disclosures

Regulation Asia: Top 20 News Stories for 2022

By Editors | 28/12/2022

This list presents the most-read new stories published by Regulation Asia in 2022, based on aggregated user traffic analytics.

Fraud, Scams & Cybercrime

Converting Property Loans to Business Loans is Illegal, CBIRC Warns

By Editors | 27/12/2022

Some “unscrupulous intermediaries” have been advertising and promoting “illegal” loan conversion as a way to reduce interest costs.

Fraud, Scams & Cybercrime

HK Police Arrest Two Men Over Halted Crypto Exchange AAX

By Editors | 26/12/2022

Police say the two men falsely claimed AAX was undergoing “scheduled maintenance” to suspend user withdrawals. A third individual is said to be on the run.

Fraud, Scams & Cybercrime

How Law Enforcement Can Take Action Against Crypto Crime

By Gurvais Grigg | 23/12/2022

Blockchain analysis tools and appropriate training can help exchanges, law enforcement, and other stakeholders recover victim funds, says Gurvais Grigg.