Fraud, Scams & Cybercrime

Conduct, Culture & Accountability

IOSCO Issues Guidance on Addressing Misconduct During Stress Events

By Editors | 31/12/2020

Extreme price volatility, profitability pressures, psychological stressors, remote working and aggressive advertising were some of the drivers of misconduct risk during the pandemic.

Fraud, Scams & Cybercrime

Singapore Police Commend Citi, RHB Bank for Foiling Scam

By Editors | 29/12/2020

Upon being alerted to a suspected case of money laundering by Citi, the Police’s Anti-Scam Centre froze the funds and recovered $1.9mn.

Cryptocurrency

IOSCO Offers Guidance on Educating Investors on Crypto Asset Risk

By Editors | 29/12/2020

The report identifies the possible risks to retail investors in crypto-assets and describes how regulators can help inform them about these risks.

Trade Based Money Laundering

Regulation Asia: Top Ten News Stories for 2020

By Editors | 22/12/2020

This list presents the most-read new stories published by Regulation Asia in 2020, based on aggregated user traffic analytics.

Fraud, Scams & Cybercrime

Taiwan to Lower Payment Thresholds for Customer Notification

By Editors | 21/12/2020

The move is aimed at combatting rising financial fraud as consumers increasingly prefer e-payments over the use of credit cards.

Anti-Money Laundering

FATF Warns of Continued Criminal Exploitation of Covid-19

By Manesh Samtani | 17/12/2020

The effective use of technology to support onboarding and ensure effective information sharing has become even more important, the FATF says.

Fraud, Scams & Cybercrime

US SEC Settles Luckin Coffee Fraud Charges for $180m

By Editors | 17/12/2020

Luckin materially misstated its revenue, expenses, and net operating loss to falsely appear to achieve rapid growth and increased profitability, the SEC said.

Supervision & Enforcement

ASIC Sues Three Firms For Illicitly Offering FX Margin Trading

By Sanday Chongo Kabange | 15/12/2020

ASIC alleges Union Standard provided trading in margin FX products to clients in China in circumstances where it was illegal for Chinese residents to deal or trade in those products.

Fraud, Scams & Cybercrime

GBG Awarded Best Solution in Fraud Monitoring & Detection

By Editors | 15/12/2020

GBG provides an end-to-end solution that uses advanced behavioral analytics and collective data intelligence to identify anomalies and detect fraud.