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Reporting on fraud schemes, cyber attacks targeting financial systems, regulatory responses, and advancements in fraud prevention technologies.
Payments & Settlements
MAS Proposes to Raise Caps Imposed on E-Wallets
By Manesh Samtani | 21/10/2022
Besides raising the caps, MAS also proposes to introduce an exemption to allow for ‘white labelling’ of e-wallet accounts.
Fraud, Scams & Cybercrime
German Prosecutors Raid Deutsche Offices for “Cum-Ex” Probe
By Editors | 21/10/2022
The Cum-Ex scandal dates back more than a decade. Deutsche Bank is said to be fully cooperating with inspections at its Frankfurt offices.
Fraud, Scams & Cybercrime
INTERPOL Launches First Global Police Metaverse
By Editors | 20/10/2022
INTERPOL Metaverse users can interact with other officers and take training courses. A new expert group will work to secure the metaverse from crime.
Fraud, Scams & Cybercrime
Japan Authorities Warn Crypto Firms of Lazarus Group Threat
By Manesh Samtani | 20/10/2022
An advisory calls on crypto firms to strengthen their security controls, and implement staff and user training programmes.
Resolution & Recovery
Vietnam’s Largest Private Bank Placed Under External Management
By Mark Johnston | 20/10/2022
Four state-owned banks have been asked to help manage Saigon Commercial Bank after it experienced a bank run.
Fraud, Scams & Cybercrime
Malaysia’s Scam Response Centre Publishes Guidance
By Editors | 20/10/2022
The National Scam Response Centre’s establishment was announced in Malaysia’s 2023 Budget earlier this month.
Cybersecurity
Singapore Establishes Inter-agency Taskforce on Ransomware
By Editors | 20/10/2022
The Counter Ransomware Task Force comprises senior government representatives from the technology, cybersecurity, financial regulation and law enforcement domains.
Fraud, Scams & Cybercrime
Philippines to Curb Scams by Requiring ID Registration for SIM Cards
By Editors | 19/10/2022
Telcos are required to collect customer ID information when selling SIM cards. The law is aimed at curbing the spread of spam text messages and scams.
Fraud, Scams & Cybercrime
China Directs CPAs to Target Financial Fraud in Audits
By Editors | 18/10/2022
CPAs and accounting firms are directed to identify and fix weak links in their audit processes, and improve their ability to deal with financial fraud.
Fraud, Scams & Cybercrime
Thailand Creates Working Group to Tackle Social Media Scams
By Editors | 16/10/2022
Facebook accounts will be tracked and websites will be blocked if they are found to be promoting fraudulent investment schemes or raising funds illegally.
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