Fraud, Scams & Cybercrime

Cybersecurity

BSP Directs FIs to Bolster Email Security, Cyber Awareness

By Editors | 15/10/2022

Financial institutions are directed to adopt “robust and layered” security controls and industry best practices to reinforce email security.

Conduct, Culture & Accountability

IOSCO Offers Guidance on Curbing Online Misconduct

By Editors | 13/10/2022

IOSCO’s new report offers recommendations to address risks from online marketing and distribution of financial products targeting retail investors.

Conduct, Culture & Accountability

South Korea to Overhaul Accounting Regulations

By Sanday Chongo Kabange | 12/10/2022

The changes will ease the burden on SMEs, enhance executive responsibility over accounting controls, and triple whistleblower rewards.

Fraud, Scams & Cybercrime

HK Victims Have Lost HKD 2.6 billion to Scams This Year

By Editors | 10/10/2022

Online investment fraud accounted for HKD 540 million of all online scams, which is largely attributed to an increase in crypto-related scams.

Cybersecurity

BNM Calls for Heightened Vigilance Over Payment Card Activity

By Editors | 10/10/2022

Payment gateway service provider iPay88 experienced a breach earlier this year affecting card data from online transactions.

Fraud, Scams & Cybercrime

Binance Suffers Crypto Hack, But Contains Losses

By Editors | 10/10/2022

After managing to freeze the majority of the stolen assets, Binance said about $100mn in unrecovered funds remains, out of $570mn that was initially stolen.

Fraud, Scams & Cybercrime

Malaysia Budget 2023 to Tackle Scams, Promote Capital Market

By Editors | 09/10/2022

Budget 2023 includes measures to strengthen the capital market, protect against scams and cyber threats, and drive the ESG and climate change agenda.

Cybersecurity

Australia Mounts ‘Supercharged’ Response to Optus Breach

By Sanday Chongo Kabange | 07/10/2022

“Operation Guardian” will protect those who had their data released online. Regulatory changes will enable better coordination to detect and mitigate cyber, fraud and scam risk.

Fraud, Scams & Cybercrime

Hong Kong Police Launch New Anti-Fraud Search Engine

By Editors | 06/10/2022

Dubbed ‘Scameter’, the search engine allows members of the public to check information such as bank account numbers and email addresses for previous links to scams.