Fraud, Scams & Cybercrime

Fraud, Scams & Cybercrime

Australia Court Orders Retrial of Banned Mayfair 101 Director

By Editors | 21/09/2022

ASIC put a “legally incorrect case” and the primary judge made orders “based on a legally correct case not put”, the court said.

Cryptocurrency

UK FCA Issues Warning Against Crypto Exchange FTX

By Editors | 20/09/2022

The FCA said FTX is targeting UK consumers without proper authorisation. FTX believes a scammer is impersonating the company.

Fraud, Scams & Cybercrime

Taiwan to Hold Directors Responsible for Fund Manager Fraud

By Editors | 19/09/2022

The FSC will be able to dismiss board members of investment firms or revoke their business licences entirely if fund managers are involved in fraud.

CBDCs

US Unveils Comprehensive Plans for Regulating Digital Assets

By Manesh Samtani | 18/09/2022

Reports released by the White House, Treasury, Commerce and DOJ will help ensure a coordinated and comprehensive approach to digital assets policy.

Fraud, Scams & Cybercrime

Taiwan Launches Early Warning System to Combat Fraud

By Darien Choong | 18/09/2022

Banks are required to apply additional scrutiny of overseas transfers requested by customers via bank counters, to ensure the transaction is not the result of a fraud attempt.

PEPs & Sanctions

OFAC Sanctions Iranian Actors Over Ransomware Activity

By Editors | 15/09/2022

OFAC said the IRGC-affiliated group has launched extensive campaigns across the globe targeting defence, diplomatic, government and private industry personnel.

Fraud, Scams & Cybercrime

Korea Issues Arrest Warrants for Terra Founder, Five Others

By Editors | 14/09/2022

Prosecutors say Terra coins were investment securities under Korea’s capital markets law. Do Kwon is alleged to have committed fraud.

Fraud, Scams & Cybercrime

Thailand Telecoms Must Comply with Scam Prevention Rule

By Editors | 13/09/2022

Telecom operators may not allow customers to register more than 5 SIM cards without ID. Daily penalties will start applying for non-compliance.

Fraud, Scams & Cybercrime

China Passes Law to Combat Telecom and Online Fraud

By Darien Choong | 07/09/2022

The law imposes an obligation on telecom companies and banks to help hunt down fraudsters, and requires the establishment of a risk information sharing mechanism.