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Reporting on fraud schemes, cyber attacks targeting financial systems, regulatory responses, and advancements in fraud prevention technologies.
Fraud, Scams & Cybercrime
Taiwan Central Bank Warns of Fraud Via Bitcoin ATMs
By Darien Choong | 31/03/2022
Bitcoin ATMs in Taiwan are being used to scam victims who attempt to transfer cash to specific accounts to purchase cryptoassets.
Fraud, Scams & Cybercrime
Singapore Police, Banks Step Up Scam Intervention Efforts
By Editors | 31/03/2022
In a four-day operation last week, the police and five banks intervened in 150 scam cases, which resulted in the arrests of 35 individuals.
Fraud, Scams & Cybercrime
BSP Requires Banks to Implement Real Time Fraud Monitoring
By Sanday Chongo Kabange | 31/03/2022
Under new relations, Philippine banks and NBFIs are required to implement automated and real-time fraud monitoring and detection systems by end-December.
Fraud, Scams & Cybercrime
Korea FSS Seeks Stronger Audit Regulations to Prevent Fraud
By Sanday Chongo Kabange | 31/03/2022
The FSS will examine 180 companies and 17 audit firms this year, while also enhancing its audit screening exercises and strengthening punitive sanctions.
Fraud, Scams & Cybercrime
CSRC Revokes Licences of Two Investment Consulting Firms
By Editors | 31/03/2022
The two well-established securities investment consulting firms were found to have disseminated false or misleading information to investors.
Anti-Money Laundering
Singapore Jails Nominee Director for Facilitating Illicit Activities
By Editors | 29/03/2022
The director of corporate service provider 3E Accounting served as local resident director of four companies whose bank accounts were used to receive criminal proceeds.
Fraud, Scams & Cybercrime
SFC Sets Out Expectations on Managing BEC Risk
By Manesh Samtani | 24/03/2022
Most successful business email compromise frauds occurred because LCs did not check or verify the identities of email senders or they ignored red flags.
Conduct, Culture & Accountability
ASIC Probes Fund Managers for Misleading Marketing
By Sanday Chongo Kabange | 24/03/2022
ASIC is assessing whether fund managers made false or misleading statements or engaged in misleading or deceptive conduct when marketing their funds.
Fraud, Scams & Cybercrime
ACCC Launches Court Proceedings Over Crypto Ads on Facebook
By Editors | 23/03/2022
The ads contained links to fake media articles containing quotes attributed to public figures endorsing cryptocurrency or money-making schemes.
Fraud, Scams & Cybercrime
CBIRC Warns of Crypto and Metaverse Frauds at College Campuses
By Darien Choong | 23/03/2022
The CBIRC’s Beijing bureau warns that concepts such as the metaverse and blockchain are being used to defraud local college students.
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