Fraud, Scams & Cybercrime

    Reporting on fraud schemes, cyber attacks targeting financial systems, regulatory responses, and advancements in fraud prevention technologies.

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    KYC & CDD

    Japan to Require Banks to Use IC Chips for Customer Verification

    By Thisanka Siripala | 24/06/2025

    Authorities aim to eliminate image-based identity checks in favour of tamper-resistant IC chip scans to prevent fraud.

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    Fraud, Scams & Cybercrime

    South Korean Police Probe Embezzlement Case at Toss Bank

    By Sanday Chongo Kabange | 24/06/2025

    The embezzlement incident at Toss Bank involved KRW 2 billion. The investigation will be complicated as the suspect “recently passed away”.

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    Fraud, Scams & Cybercrime

    India’s TRAI, RBI Launch Digital Consent Pilot to Curb Spam Calls

    By Nithya Subramanian | 23/06/2025

    A pilot project will give consumers greater control over promotional communications related to loans and credit cards.

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    Fraud, Scams & Cybercrime

    Singapore, Malaysia and Hong Kong Arrest 11 Suspects in Joint Scam Crackdown

    By Thisanka Siripala | 19/06/2025

    The authorities in Singapore, Malaysia and Hong Kong have arrested eleven individuals suspected of operating a transnational scam syndicate that […]

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    Fraud, Scams & Cybercrime

    Japan: Major Banks Sign Data Sharing Agreement with NPA

    By Thisanka Siripala | 19/06/2025

    The banks will share information with police on transactions and accounts identified as being linked to fraud.

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    Operational Risk

    Banking Sector Reports Fall in Operational Risk for 2024: ORX

    By Editors | 18/06/2025

    ORX report shows banking sector operational risk losses down in 2024, but external fraud and digitalisation trends warrant attention.

    Anti-Money Laundering

    FATF Publishes Updated R.16 Standard on Payment Transparency

    By Manesh Samtani | 18/06/2025

    The FATF said the will help combat fraud and illicit finance, balancing security with innovation and financial inclusion.

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    Supervision & Enforcement

    ASIC Targets Misconduct in Consumer Credit and Car Finance Sectors

    By Thisanka Siripala | 18/06/2025

    Commissioner Alan Kirkland said ASIC is prioritising consumer credit protection, focusing on predatory lending, hardship assistance, and debt management

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    Fraud, Scams & Cybercrime

    Philippines Launches Complaint Centre for Victims of Abusive Online Lenders

    By Nithya Subramanian | 18/06/2025

    The SEC also revoked the licences for 401 lending and financing companies, part of a wider crackdown on illegal and predatory lending practices.

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    Fraud, Scams & Cybercrime

    Korea’s FSS Warns Public Over IPO Investment Scams

    By Thisanka Siripala | 18/06/2025

    The scammers impersonate licensed firms and mislead retail investors into buying unlisted shares under false pretences.

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