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Reporting on fraud schemes, cyber attacks targeting financial systems, regulatory responses, and advancements in fraud prevention technologies.
Fraud, Scams & Cybercrime
Big Four Auditor Facing HK Lawsuit Over Chinese Audit
By Editors | 07/09/2022
The liquidator of a now-collapsed Chinese biotech firm said the auditor could have easily exposed fraud by asking obvious questions.
Fraud, Scams & Cybercrime
Singapore Police Opens New Anti-Scam Command Office
By Editors | 07/09/2022
The opening of the ASCom office was officiated by Minister for Communications & Information Josephine Teo.
Fraud, Scams & Cybercrime
India Raids Payment Firms in Digital Lending App Probe
By Editors | 06/09/2022
The Enforcement Directorate said digital loan app providers involved in extortion and harassment of members of the public are controlled and operated by Chinese persons.
Cybersecurity
BSP Rolls Out New Cyber Risk Management Software at FIs
By Editors | 06/09/2022
The software will streamline and automate regulatory supervision, reporting and compliance assessment of banks’ cybersecurity risk management.
Cybersecurity
Singapore Cybersecurity Agency Warns of Increasing Cybercrime
By Darien Choong | 04/09/2022
Disparate cyber norms, ecosystems and standards could emerge across the globe due to decreasing reliance on Western technology as a result of geopolitical tensions.
Fraud, Scams & Cybercrime
German Prosecutors Raid JP Morgan as Part of Cum-Ex Probe
By Editors | 04/09/2022
Around 1,500 people are currently under investigation across 50 international and domestic financial institutions and brokers.
Fraud, Scams & Cybercrime
FBI Calls on DeFi Platforms to Bolster Safeguards Against Theft
By Editors | 04/09/2022
DeFi platforms are asked to institute real time analytics, monitoring, rigorous code testing, and incident response plans.
Fraud, Scams & Cybercrime
Indian Banks Inconsistently Reporting Fraud Incidents to Regulator
By Editors | 31/08/2022
Kotak Mahindra Bank suggests such digital frauds are not being reported by other banks, making its own figures look disproportionately higher.
Fraud, Scams & Cybercrime
Chinese Police Arrest 234 Suspects for Henan Bank Fraud
By Editors | 31/08/2022
Authorities say they have made “significant progress” in recovering the stolen money and have also started repaying more victims of the fraud.
Fraud, Scams & Cybercrime
HKMA Warns of Deposit Scams Being Used by Fraudsters
By Editors | 30/08/2022
Fraudsters claiming to be financial advisors are soliciting deposits in unknown foreign banks by promising high deposit rates.
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