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Reporting on fraud schemes, cyber attacks targeting financial systems, regulatory responses, and advancements in fraud prevention technologies.
Cryptocurrency
Korea FSS Probes Use of Crypto by Payment Firms
By Manesh Samtani | 04/06/2022
Regulators also plan to launch a ‘Digital Assets Committee’ this month to bring additional safeguards and regulatory structure to Korea’s crypto industry.
Fraud, Scams & Cybercrime
Singapore Banks to Adopt More Scam Prevention Measures
By Darien Choong | 02/06/2022
The measures include an emergency self-service ‘kill switch’, enhancements to fraud surveillance systems, and additional customer confirmations.
Reporting & Disclosures
DWS CEO Quits Over Greenwashing Accusations
By ESG Investor | 02/06/2022
Resignation sparked by German police raids to investigate claims over mis-representation of ESG funds.
Cloud & Infrastructure
Singapore Launches New Utility to Tackle Supply Chain, Trade Issues
By Manesh Samtani | 02/06/2022
Over 70 participants have signed on to use SGTraDex – including DBS, OCBC, Standard Chartered, UOB, Trafigura, ExxonMobil and Chevron.
Fraud, Scams & Cybercrime
More Chinese Firms Fall Under India Probe for ‘Irregularities’
By Editors | 02/06/2022
The MCA says it has received information that indicates potential violations including fraud by Chinese companies operating in India.
Fraud, Scams & Cybercrime
Malaysia SC Offers Guidance on Detecting Fake Investment Firms
By Editors | 01/06/2022
In one case, approximately $821,000 flowed through one mule bank account controlled by scam operators within a period of six months.
Reporting & Disclosures
German Prosecutors Raid DWS Offices Over ESG Claims
By Editors | 01/06/2022
“Sufficient factual evidence” has emerged that ESG factors were not taken into account in many investments, contrary to claims made in DWS fund prospectuses.
Fraud, Scams & Cybercrime
China Faces Protests in Henan Over Suspected Rural Bank Scams
By Editors | 30/05/2022
Bank customers in Henan province are demanding the return of billions of dollars of deposits after finding they were unable to withdraw their funds.
Cryptocurrency
Crypto Ads to be Screened in the Philippines from 7 July
By Editors | 29/05/2022
Firms advertising crypto services to Philippine users will have to provide proof they have registered with the SEC as companies and with BSP as remittance and transfer providers.
Fraud, Scams & Cybercrime
Korea FSS to Extend Woori Bank Embezzlement Probe
By Editors | 29/05/2022
The FSS will seek to understand why Woori’s internal control system failed to detect embezzlement by its employee over ten years.
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