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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 FSC Tightens Rules to Prevent Thefts of Client Money
By Sanday Chongo Kabange | 26/08/2021
Banks have until 1 January to comply with the new rules, which seek to prevent the theft of client money by customer relationship managers.
Anti-Money Laundering
APG Releases 2021 Typologies Report, Case Studies
By Editors | 26/08/2021
The report includes information on the risks associated with proliferation financing, Covid-19, cryptocurrencies, shell companies, and real estate.
Fraud, Scams & Cybercrime
Indian Police Arrest Karvy Stock Broking Founder for Fraud
By Editors | 25/08/2021
The case dates back to 2019, when the brokerage was found to have pledged client securities at banks to secure loans for use as working capital.
Cryptocurrency
Japan: Crypto Firm Liquid Resumes Services Following $97m Hack
By Editors | 25/08/2021
Liquid has been tracing the movement of the stolen assets and working with other exchanges to freeze and recover the funds.
Fraud, Scams & Cybercrime
Singapore Police Charges Ex-UOB Banker Over Data Disclosure
By Editors | 25/08/2021
The ex-UOB employee accessed customer data from banking systems and disclosed the information to a scammer purporting to represent the Shanghai Police.
Payments & Settlements
FSS Korea Launches Probe into Electronic Payment Providers
By Manesh Samtani | 20/08/2021
The probe is a response to a growing scandal involving a local gift card provider, which offered users of its app large discounts and then changed its terms.
Fraud, Scams & Cybercrime
Singapore Court Jails Key Members of SkillsFuture Scam
By Ranamita Chakraborty | 17/08/2021
A husband and wife were jailed for 17 and 14 years respectively after pleading guilty to cheating, forgery and money laundering offences.
Supervision & Enforcement
CBIRC Launches Crackdown on Online Insurance Firms
By Sanday Chongo Kabange | 15/08/2021
The CBIRC has ordered online insurers to conduct self-checks to identify violations, make immediate corrections and hold responsible personnel to account.
Fraud, Scams & Cybercrime
Poly Network Hackers Return Almost All of Stolen Funds
By Sanday Chongo Kabange | 13/08/2021
Hackers have returned nearly all of the USD 613 million worth of digital tokens stolen on Tuesday, says Poly Network.
Anti-Money Laundering
ICAC Charges Company Director for Fraud, Money Laundering
By Sanday Chongo Kabange | 13/08/2021
The director faces charges for defrauding BOCHK into making L/C payments to a supplier and then laundering the proceeds back to his own company.
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