Fraud, Scams & Cybercrime

Anti-Money Laundering

Malaysia Files 22 Civil Suits to Recover 1MDB Losses

By Manesh Samtani | 11/05/2021

Among those named in the lawsuits are Deutsche Bank, Coutts, JPMorgan, former prime minister Najib Razak, and Malaysian financier Jho Low.

Fraud, Scams & Cybercrime

ASIC Bans Former ANZ Representative For Eight Years

By Editors | 10/05/2021

The representative falsely witnessed binding nomination of beneficiary forms for 17 clients, backdated documents, and falsified a client’s signature.

Fraud, Scams & Cybercrime

MAS Issues 10-Year Ban Against Individual for Dishonest Conduct

By Editors | 10/05/2021

The individual carried out fund management activities without holding a capital markets services licence, and later convicted of cheating and imprisoned.

Fraud, Scams & Cybercrime

Korea: Police Raid Crypto Exchange, Freeze $214m in Assets

By Editors | 08/05/2021

Crypto exchange V Global is alleged to have engaged in an illegal multi-level marketing scheme to lure investors.

Fraud, Scams & Cybercrime

HKEX Proceeds to Delist Shares of Convoy Global Holdings

By Sanday Chongo Kabange | 06/05/2021

HKEX says its Listing Review Committee has upheld the May 2020 decision to cancel the listing of Convoy Global Holdings.

Fraud, Scams & Cybercrime

Singapore Court Jails Former CFO for Loan Fraud

By Ranamita Chakraborty | 05/05/2021

The former CFO of Coastal Oil Singapore conspired with three colleagues to deceive 8 banks into disbursing over $300mn in loans.

Anti-Money Laundering

Ex-Netflix VP Convicted of Money Laundering, Fraud

By Sanday Chongo Kabange | 05/05/2021

The executive approved millions of dollars in contracts for Netflix to purchase IT products and services in exchange for kickbacks.

Fraud, Scams & Cybercrime

BOT Creates Database to Guard Against Factoring Fraud

By Editors | 04/05/2021

The database acts as a centralised repository of factoring-related transactions to guard against counterfeiting, double financing and fraud.

Fraud, Scams & Cybercrime

SG Police Lays 23 Forgery Charges Against Hin Leong Founder

By Editors | 03/05/2021

Lim Oon Kuin now faces a total of 25 charges – 14 counts of abetment of forgery for the purpose of cheating, and 11 counts of abetment of forgery simpliciter.