Fraud, Scams & Cybercrime

Fraud, Scams & Cybercrime

Korean Banks Face Signficant Annual Costs for Fraud Compensation

By Mark Johnston | 06/04/2026

Proposed legal amendments that would force financial firms to compensate fraud victims could cost financial firms up to KRW 281.1 billion annually.

Anti-Money Laundering

Japan Toughens AML Rules to Combat Mule Accounts and 'Dark' Part-Time Jobs

By Sanday Chongo Kabange | 06/04/2026

Proposed legal amendments will increase penalties for illicit bank account trading and introduce new police powers to combat rising fraud and money laundering.

Fraud, Scams & Cybercrime

SC Malaysia, MCMC Ink Pact to Fight Investment Scams

By Nithya Subramanian | 06/04/2026

The regulators will use AI and enhance intelligence sharing to combat fraudulent schemes exploiting digital platforms.

Cryptocurrency

Taiwan Cabinet Approves Draft Virtual Asset Management Act

By Mark Johnston | 06/04/2026

The proposed legislation introduces a comprehensive licensing regime, stringent fraud penalties, and specific rules for stablecoin reserves and issuance.

Fraud, Scams & Cybercrime

Japan to Launch System for Sharing Fraud Data in April 2027

By Manesh Samtani | 03/04/2026

The initiative aims to accelerate the freezing of accounts used for financial crimes amid record losses from scams.

Fraud, Scams & Cybercrime

Korean Police Bust KRW 13 Billion Phishing Ring Impersonating Regulators

By Sanday Chongo Kabange | 03/04/2026

The China-based syndicate impersonated financial regulators and prosecutors to defraud 81 victims over a one-year period, prompting police warnings.

Structural Regulation

Taiwan Amends Evaluation Framework for Trusts to Align With Policy Objectives

By Editors | 03/04/2026

FSC updates incentive scheme to encourage integrated teams, public outreach on fraud prevention, and broader adoption of elderly care trusts.

Fraud, Scams & Cybercrime

Cambodia Extradites Former Huione Chairman to China to Face Charges

By Manesh Samtani | 02/04/2026

Li Xiong, described as a "core backbone member" of Chen Zhi's syndicate, has been extradited to China amid allegations of money laundering and fraud.

Fraud, Scams & Cybercrime

Cambodia Passes Landmark Anti-Scam Law with Life Sentences

By Manesh Samtani | 02/04/2026

The new legislation introduces severe penalties for operators of online fraud centres in a bid to dismantle the country's cross-border scam industry.