Fraud, Scams & Cybercrime

Fraud, Scams & Cybercrime

Taiwan's New Bank-Led Anti-Fraud Platform Already Yielding Results

By Sanday Chongo Kabange | 18/08/2025

The new "Suspicious Account Early Warning Centre" relies on proactive reporting from FIs and has already led to the dismantling of major fraud rings, the FSC said.

PEPs & Sanctions

US Sanctions Russian Crypto Firm with Central Asia Links

By Manesh Samtani | 18/08/2025

The sanctions target Garantex and successor Grinex for ransomware links, with enforcement actions spanning from Europe to Asia.

Fraud, Scams & Cybercrime

BSP Orders Removal of Gambling Links from Banking Apps

By Sanday Chongo Kabange | 15/08/2025

The BSP has given financial institutions 48 hours to remove access to gambling sites from their mobile apps.

Fraud, Scams & Cybercrime

Korea Rolls Out Real-Time Malware Alert System for FIs

By Manesh Samtani | 15/08/2025

Police will now share data on phones suspected of malicious app infections directly with banks to proactively block fraudulent transactions.

Operational Risk

APRA, ASIC Issue Warning to Super Funds on Retirement Planning

By Sanday Chongo Kabange | 14/08/2025

Only 33% of Australians aged 50-66 are confident they will have a financially comfortable retirement, and just 18% have a clear financial plan before leaving the workforce.

Fraud, Scams & Cybercrime

India to Ban UPI Peer-to-Peer 'Collect Requests' to Curb Fraud

By Editors | 14/08/2025

The directive, effective from 1 October, targets a feature exploited by fraudsters but will not affect legitimate merchant-initiated payment requests.

Fraud, Scams & Cybercrime

Taiwan FSC Fines Cathay United Bank for Internal Control Failures

By Sanday Chongo Kabange | 14/08/2025

The FSC cited serious loopholes in Cathay United Bank’s internal controls, which allowed a customer service agent to fraudulently use multiple clients' credit cards.

Fraud, Scams & Cybercrime

Taiwan Launches New Platforms to Bolster Anti-Fraud Fight

By Manesh Samtani | 14/08/2025

The initiatives include a new communication platform for banks and police, as authorities report a significant drop in financial fraud losses.

Anti-Money Laundering

New Report Details Crypto's Role in Chinese Underground Banking

By Editors | 13/08/2025

A new report details how Chinese underground networks use cryptocurrency to launder funds for North Korean hackers, cartels, and Triads.