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Reporting on fraud schemes, cyber attacks targeting financial systems, regulatory responses, and advancements in fraud prevention technologies.
Fraud, Scams & Cybercrime
Australian Court Charges Woman for Superannuation Fraud
By Editors | 01/05/2021
A woman is said to have submitted multiple false hardship claims on behalf of others to gain early access to A$330,000 in superannuation.
Fraud, Scams & Cybercrime
SG Police Issue Forgery Charges in Nickel Trading Fraud Case
By Editors | 30/04/2021
With the latest charges, Ng Yu Zhi now faces a total of 11 counts of cheating, fraudulent trading and forgery. He will return to court on 17 May.
Fraud, Scams & Cybercrime
CBIRC Warns of Crackdown on Illegal Fundraising Activities
By Editors | 29/04/2021
New regulations on the prevention and handling of illegal fundraising activities come into effect from 1 May.
Tokenisation
DBS Goes Live on Trade Finance Network Contour
By Editors | 27/04/2021
Digital LC capabilities will be offered in Australia, China, Hong Kong and Singapore via Contour from this month.
Anti-Money Laundering
HKMA Offers Guidance on Combatting Covid-19 Related Fraud, AML
By Manesh Samtani | 26/04/2021
The guidance emphasises the use of data from internal and external sources, proactive data analysis and information sharing to tackle emerging AML risks.
Fraud, Scams & Cybercrime
SG Police Lay More Charges in Nickel Trading Fraud Case
By Editors | 26/04/2021
Ng Yu Zhi allegedly cheated five individuals into paying around S$8.8mn for nonexistent forward contracts purported to be for the sale of nickel to a metals trader.
PEPs & Sanctions
Final Phase of Meng Extradition Case to Be Delayed
By Sanday Chongo Kabange | 25/04/2021
The final phase of the extradition case is being delayed to allow Meng’s lawyers to examine documents being provided by HSBC as a result of a Hong Kong court ruling.
Supervision & Enforcement
S. Korea to Improve Debtor Access to Legal Representation
By Editors | 24/04/2021
The FSC will increase support and accessibility to free legal representation for debtors, as well as strengthen coordination with investigative authorities.
Market Abuse
SFC, HK Police Make Arrest Four More in Ramp-and-dump Probe
By Editors | 23/04/2021
Three of the four are senior executives of a listed company. They are said to have embezzled over HKD 19 million of the listed company’s funds.
Fraud, Scams & Cybercrime
SFC Imposes Lifetime Ban on Co-CEOs of IDS Forex Ltd
By Editors | 23/04/2021
The co-CEOs knew of their chairman’s arrest and conviction in Korea for fraud but did not report the events to the SFC.
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