Fraud, Scams & Cybercrime

Fraud, Scams & Cybercrime

China Sentences Myanmar Crime Family Leaders to Death Over $4B Fraud

By Mark Johnston | 06/11/2025

A Shenzhen court has issued death penalties to members of the Bai crime family amid Beijing's crackdown on cross-border telecom fraud networks.

Fraud, Scams & Cybercrime

Singapore Passes Law Allowing Use of Caning to Punish Scammers

By Nithya Subramanian | 06/11/2025

The new legislation introduces mandatory corporal punishment for scam syndicates and discretionary caning for their accomplices.

Supervision & Enforcement

Australia Passes Law Mandating Payday Super from July 2026

By Sanday Chongo Kabange | 06/11/2025

The new law requires employers to pay superannuation contributions within seven days of payday, targeting billions in unpaid retirement funds.

PEPs & Sanctions

US Sanctions North Korean Bankers for Laundering Cybercrime Proceeds

By Nithya Subramanian | 05/11/2025

OFAC sanctioned eight individuals and two entities for laundering illicit funds supporting North Korea’s weapons programmes, cyberattacks, and IT operations.

Fraud, Scams & Cybercrime

Hong Kong Freezes HK$2.75 Billion in Prince Group Probe

By Manesh Samtani | 05/11/2025

Hong Kong authorities have taken action against local firms as police freeze assets tied to a Cambodian syndicate accused of running global scam centres.

Anti-Money Laundering

India’s Enforcement Directorate Attaches Anil Ambani Group Assets in ML Case

By Nithya Subramanian | 05/11/2025

The total value of properties attached in the Reliance Group’s bank fraud probe now exceeds INR 75.4 billion, as the ED intensifies its investigation into alleged fund diversion and loan irregularities.

Anti-Money Laundering

Korea NTS Probes Prince and Huione Groups Tax Evasion, Laundering Links

By Mark Johnston | 05/11/2025

Tax agency investigating domestic offices of Prince Group and a Huione-linked currency exchange over suspected phishing proceeds and tax fraud.

Fraud, Scams & Cybercrime

Korea Forms Task Force to Address Loan Misuse in Property Market

By Mark Johnston | 04/11/2025

New interagency body to launch as financial regulator plans data sharing to block violators from all financial institutions.

Cybersecurity

SBV Tightens Security Rules for Mobile Banking Apps

By Nithya Subramanian | 04/11/2025

SBV is tightening cybersecurity rules for online and mobile banking, requiring stricter app version controls, regular vulnerability checks, and stronger defences against cyberattacks.