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Reporting on fraud schemes, cyber attacks targeting financial systems, regulatory responses, and advancements in fraud prevention technologies.
Anti-Money Laundering
Addressing Financial Crime Through Data-driven Compliance
By Heather Lee | 13/03/2021
Given the rapid growth of digital technologies in financial services, the most effective way to defeat financial criminals today is to ‘follow the data’, says SWIFT’s Heather Lee.
Conduct, Culture & Accountability
NZ Court Fines ANZ Over Credit Card Repayment Insurance
By Editors | 13/03/2021
The judge said ANZ should have been “sufficiently robust” in its ability to detect issues early, given its size, resources and position in New Zealand’s market.
Fraud, Scams & Cybercrime
HK Court Sentences Two for Mortgage Fraud, Money Laundering
By Ranamita Chakraborty | 13/03/2021
A ICAC investigation found that two former employees of a law firm defrauded licensed money lenders of mortgage loans totalling HK$20mn.
Fraud, Scams & Cybercrime
Singapore Police Arrest Man Over China Official Impersonation Scam
By Editors | 11/03/2021
The man received over S$209,000 from a woman who was told she was under investigation and needed to resolve the case.
Fraud, Scams & Cybercrime
ICAC Charges Former AIA Employees for Fraud
By Editors | 11/03/2021
A former district manager and former insurance agent jointly face three counts of fraud for allegedly deceiving AIA into paying them commissions for three insurance policies.
Conduct, Culture & Accountability
BSP Advocates Passage of New Consumer Protection Law
By Ranamita Chakraborty | 09/03/2021
The proposed law will allow financial regulators to issue consumer protection rules, conduct market surveillance and examination, and adjudicate complaints.
Market Abuse
HK Police Arrest 12 Members of Ramp-And-Dump Syndicate
By Editors | 08/03/2021
The SFC has frozen securities accounts holding an estimated HK$860mn in ramp-and-dump proceeds, while the Police have seized an additional HK$89mn.
Fraud, Scams & Cybercrime
Bursa Punishes RHB Representative for Unauthorised Trading
By Editors | 04/03/2021
The former representative committed the breaches for personal financial gain and attempted to conceal his misconduct from RHB Investment Bank’s management.
Fraud, Scams & Cybercrime
Singapore Cuts Down Time to Freeze Bank Accounts
By Ranamita Chakraborty | 04/03/2021
Singapore Police have collaborated with over 20 FIs to reduce the time it takes to freeze bank accounts with suspected links to scammers.
Fraud, Scams & Cybercrime
ASIC Charges Former Apogee Financial Adviser for Deception
By Editors | 03/03/2021
The ex-financial adviser obtained over A$1.5 million from Nulis Nominees, the trustee for the MLC Super Fund, on behalf of 168 clients.
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