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Reporting on fraud schemes, cyber attacks targeting financial systems, regulatory responses, and advancements in fraud prevention technologies.
Market Abuse
BaFin Files Criminal Complaint Against Deutsche Bank Exec
By Manesh Samtani | 23/04/2021
Alexander Schütz is suspected of using inside information to trade Wirecard shares. A separate probe into EY’s audits of Wirecard is continuing.
Fraud, Scams & Cybercrime
Australian Court Imposes 20-Year Ban on Mayfair 101 Director
By Editors | 22/04/2021
James Mawhinney is prohibited from promoting and raising funds from the public through financial products for 20 years.
Fraud, Scams & Cybercrime
Mirae Asset Sues Shinhan Over Lime Fund Losses
By Sanday Chongo Kabange | 21/04/2021
Shinhan Bank has separately been ordered to repay up to 75 percent of investments it sold in Lime’s credit insured funds.
Fraud, Scams & Cybercrime
SG Police Probe 31 Individuals for China Official Impersonation Scams
By Ranamita Chakraborty | 19/04/2021
Victims were instructed to surrender money for fake investigations after being told their bank accounts were involved in money laundering activities.
Fraud, Scams & Cybercrime
Former AIA Agent Convicted For Fraud Over Signing Fee
By Editors | 19/04/2021
The former representative submitted false income proof statements to deceive AIA into offering him a higher signing fee.
Anti-Money Laundering
China Cracks Down on Payments from Underground Banks
By Sanday Chongo Kabange | 19/04/2021
Criminal groups reportedly colluded with underground banks to launder money by disguising their illegal proceeds as payments for goods.
PEPs & Sanctions
US Sanctions Russia Over Election Interference, Cyber Attack
By Manesh Samtani | 16/04/2021
US banks will be barred from purchasing rouble-denominated sovereign bonds in the primary market starting from 14 June.
Anti-Money Laundering
Hong Kong: Nine Arrested for Laundering HK$900 Million
By Editors | 15/04/2021
Part of the laundered funds came from 55 victims of investment frauds and romance scams, police say.
Supervision & Enforcement
BaFin Faces Criminal Probe Over Wirecard Response
By Sanday Chongo Kabange | 14/04/2021
BaFin has been under fire since mid-last year for failing to properly respond to multiple red flags signalling an accounting fraud at Wirecard.
KYC & CDD
Digital ID Perceived As Beneficial in Combatting Financial Crime
By Manesh Samtani | 14/04/2021
Digital IDs are perceived as beneficial for the fight against financial crime, an ACAMS-RUSI survey finds. However they may also present risks.
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