Fraud, Scams & Cybercrime

    Reporting on fraud schemes, cyber attacks targeting financial systems, regulatory responses, and advancements in fraud prevention technologies.

    Cryptocurrency

    Shenzhen Authorities Issue Warning Against Crypto Speculation

    By Editors | 28/06/2022

    Domestic staff of overseas crypto exchanges and others engaging in crypto-related business will be investigated.

    Fraud, Scams & Cybercrime

    Korea FSS to Punish Illegal Business Lending by Savings Banks

    By Editors | 27/06/2022

    Restrictions on household loans appear to have caused an increase in loans to businesses from savings banks to fund housing purchases.

    Anti-Money Laundering

    China Escalates Probe into Henan Bank Withdrawal Freezes

    By Darien Choong | 24/06/2022

    Initial investigations have revealed that the online transaction systems of the banks which suspended withdrawals were manipulated.

    Fraud, Scams & Cybercrime

    Korean Prosecutors Impose Flight Ban on Terra Employees

    By Editors | 23/06/2022

    The travel ban is meant to prevent dozens of Terraform Labs employees in Korea from leaving the country to avoid being summoned for questioning.

    Conduct, Culture & Accountability

    SFC Cites Conduct, Technology and Climate as Key Priorities

    By Editors | 23/06/2022

    The SFC’s latest annual report highlights work to enhance book building and placing practices, regulate fund trustees and custodians, and enhance climate disclosure for fund investors.

    Fraud, Scams & Cybercrime

    Hong Kong: Victims Lost HK$1.28bn from Fraud from Jan-April

    By Editors | 21/06/2022

    Email fraud accounted for HKD 333 million of losses to companies and individuals in the first four months of this year.

    Fraud, Scams & Cybercrime

    CBIRC Warns of Online Fraudsters Impersonating Regulators

    By Editors | 19/06/2022

    This is the fourth fraud risk warning issued by the CBIRC this year. Consumers are asked to remain vigilant and report fraud attempts.

    Anti-Money Laundering

    FATF Concludes Final Plenary Under German Presidency

    By Editors | 19/06/2022

    FATF will soon publish an update on travel rule implementation in the crypto industry, a report on collaborative analytics, and new guidance for the real estate sector.

    Fraud, Scams & Cybercrime

    Malaysia SC Charges Former Investment Banker for Deception

    By Editors | 19/06/2022

    The former Hong Leong investment banker deceived four investors into investing in investment schemes that in reality did not exist, the SC said.

    Fraud, Scams & Cybercrime

    Australia: Allianz, AWP Plead Guilty for Making False Statements

    By Editors | 19/06/2022

    Charges were filed against Allianz Australia Insurance and AWP Australia in February last year.

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