Fraud, Scams & Cybercrime

Anti-Money Laundering

Japan FSA Orders Seibu Shinkin Bank to Improve Loan Screening

By Editors | 27/05/2019

The bank reportedly extended loans to persons connected to ‘antisocial forces’, and potentially executed over 100 fraudulent real estate loans.

Fraud, Scams & Cybercrime

Former DBS Hong Kong Sales Rep Jailed for Loan Fraud

By Editors | 22/05/2019

A former sales representative of DBS Bank in Hong Kong was last week sentenced to 14 months’ imprisonment for defrauding the bank of loans and commissions.

Fraud, Scams & Cybercrime

Taiwan Adviser Found Embezzling $4.8mn Over 14 Years

By Editors | 14/05/2019

A Hua Nan Commercial Bank adviser allegedly withdrew money from client accounts and made loans in their names, before diverting the funds to a company operated by her relatives.

Cybersecurity

SWIFT Responds to India Cyber Threat With New Paper

By Editors | 13/05/2019

SWIFT has published a new paper to help financial institutions in India improve their monitoring of anomalous and potentially fraudulent transactions.

Market Abuse

MAS Imposes Multi-Year Bans for ‘Dishonest Conduct’

By Editors | 10/05/2019

Two former representatives of Jefferies Singapore colluded to trade against their firm using privileged information, representing ‘deceptive conduct’ which contravenes the SFA.

Fraud, Scams & Cybercrime

Chinese Police Arrest Five More Fuxing Execs on Fraud Charges

By Editors | 10/05/2019

Four deputy presidents and the head of one of Fuxing’s subsidiaries have been detained for illegal fundraising activities, following charges brought against the group’s chairman last July.

Cryptocurrency

Australia Cracks Down on Cryptocurrency Tax Evasion

By Editors | 03/05/2019

The Australian Taxation Office is collecting data from cryptocurrency exchanges to feed into its data-matching technology to identify tax evaders.

Fraud, Scams & Cybercrime

China Arrests 41 People Linked to Tuandai.com in P2P Crackdown

By Editors | 02/05/2019

Following the collapse of P2P platform Tuandai.com in March, Chinese authorities have arrested 41 people connected to the platform, including its owners.

Fraud, Scams & Cybercrime

Chinese Fund Management Group Faces Police Investigation

By Editors | 30/04/2019

Jay Wei, chairman of JC Group, which controls multiple fund management units, is being investigated by Chinese police for potentially illegal multi-billion-dollar fundraising activities.