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Reporting on fraud schemes, cyber attacks targeting financial systems, regulatory responses, and advancements in fraud prevention technologies.
Structural Regulation
SFC Sets Out Key Priorities in Annual Report
By Manesh Samtani | 03/07/2021
The SFC is implementing a number of projects that seek to leverage new technologies to enhance risk detection and workflow efficiency.
Conduct, Culture & Accountability
NZ FMA Warns Influencers Against Providing Financial Advice
By Ranamita Chakraborty | 30/06/2021
Social media influencers do not want to find themselves caught offering advice they’re not qualified or authorised to give, warns FMA chief Rob Everett.
Payments & Settlements
Bangladesh Bank to Provide Escrow for E-commerce Payments
By Ranamita Chakraborty | 29/06/2021
Advance payments will be deposited with the central bank or other payment gateways until products bought online reach customers.
KYC & CDD
Digital Identity: A Sound Model for Risk Mitigation
By Manesh Samtani | 29/06/2021
Lax attitudes towards security by consumers have made it increasingly important for banks to take advantage of digital identity systems and put in place robust security measures.
Fraud, Scams & Cybercrime
AUSTRAC Assesses Risk in Non-bank Lending & Financing Sector
By Editors | 29/06/2021
The main threat facing the non-bank lending and financing sector is fraud, particularly loan application fraud, identity fraud and welfare fraud.
Fraud, Scams & Cybercrime
Korea FSC Extends Optimus Suspension for Six More Months
By Sanday Chongo Kabange | 28/06/2021
A new fund management company is being set up to take over and manage funds previously operated by Optimus Asset Management.
Fraud, Scams & Cybercrime
105 More Charges Laid Against Hin Leong Founder
By Editors | 27/06/2021
Lim Oon Kuin now faces a total of 130 charges, including 68 for cheating, 47 for abetment of forgery, and 14 for abetment for forgery for the purpose of cheating.
Fraud, Scams & Cybercrime
Australian Police to Establish Ransomware Taskforce
By Ranamita Chakraborty | 22/06/2021
The new taskforce will enable the Australian police to have a more unified approach to pursue ransomware attackers.
Fraud, Scams & Cybercrime
Hin Leong Files Suit Against Deloitte Over Auditing Failures
By Ranamita Chakraborty | 16/06/2021
The lawsuit claims Deloitte would have detected material misstatements and not issued unqualified opinions if its audits were carried out properly.
Fraud, Scams & Cybercrime
Hong Kong: Ex-Dah Sing Bank Manager Jailed for Fraud
By Sanday Chongo Kabange | 16/06/2021
The former financial planning manager told a client he was required to buy an insurance policy before he could open a corporate bank account.
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