Fraud, Scams & Cybercrime

Market Abuse

India’s NSE Accused Of Fraud In Algo-Trading Case

By Garima Chitkara | 09/07/2018

India’s securities regulator has issued a notice to NSE for allegedly misuse of its co-location facility by some brokers seeking early access to the exchange’s algo-trading system.

Fraud, Scams & Cybercrime

Two Former NAB Employees Receive Lifetime Ban for Loan Fraud

By Emma Zhou | 06/07/2018

ASIC investigation revealed the two provided false payslips and letters of employment, among other documents, in support of loan applications.

Fraud, Scams & Cybercrime

New Zealand Court Jails Ponzi Scheme Operator for 7.5 Years

By Manesh Samtani | 05/07/2018

Over 900 investors were persuaded to invest over NZ$8mn with registered foreign exchange provider BlackfortFX, though the firm did not conduct any investment activity.

Fraud, Scams & Cybercrime

China Toughens Regulations Amid Multiple P2P Lender Collapses

By Emma Zhou | 03/07/2018

As numerous P2P lenders collapse in China , including 28 firm in the final week of June, authorities are ramping up efforts to strengthen regulations in the sector.

Fraud, Scams & Cybercrime

S. Korea Investigates Three Banks for Loan Rate Manipulation

By Garima Chitkara | 28/06/2018

Citibank Korea, BNK Kyongnam Bank and KEB Hana Bank are being investigated by FSS over allegedly manipulating loan rates to overcharge retail borrowers.

Supervision & Enforcement

ASIC Signs Enhanced MoU on Cross Border Enforcement Cooperation

By Karen Chiu | 28/06/2018

Australia has become the sixth signatory to IOSCO’s enhanced framework for the cross-border cooperation and information sharing by securities regulators to combat technology-aided financial misconduct.

Fraud, Scams & Cybercrime

Former Vietnamese Central Banker On Trial in $655mn Fraud Case

By Garima Chitkara | 27/06/2018

Former SBV deputy governor is being charged with dereliction of duty following a $655mn fraud case arising from government restructuring of weak public sector banks in 2013.

Fraud, Scams & Cybercrime

RBI Directs Banks to Upgrade Security Amid Rising ATM Fraud

By Manesh Samtani | 26/06/2018

Banks instruct banks and white-label ATM operators to upgrade ATM security in a phased manner until June 2019, threatening enforcement action for noncompliance.

Fraud, Scams & Cybercrime

S. Korea To Tighten P2P Lending Regulation Amid Rising Fraud

By Garima Chitkara | 20/06/2018

New rules aim to control growth of the $24.7bn industry by requiring greater disclosures for secured lending, notarised mortgages valuations, among other measures.