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Fraud, Scams & Cybercrime
Reporting on fraud schemes, cyber attacks targeting financial systems, regulatory responses, and advancements in fraud prevention technologies.
Fraud, Scams & Cybercrime
Korean Authorities Mobilise After SK Telecom Hacking Incident
By Nithya Subramanian | 30/04/2025
Korea’s financial authorities have launched emergency measures to prevent identity theft and financial fraud, prompting a surge in consumer demand for account and loan blocking services.
Fraud, Scams & Cybercrime
BSEC Seeks ACC Action Against Moshihor Securities Over Fraud
By Nithya Subramanian | 29/04/2025
Moshihor Securities sent clients fake email reports and intercepted trade confirmation messages to embezzle USD 13.3 million.
AI Risk & Governance
HKMA Opens Applications for Second Cohort of GenAI Sandbox
By Sanday Chongo Kabange | 29/04/2025
HKMA is also introducing the “GenAI Sandbox Collaboratory”, a platform comprising practical workshops to facilitate early engagements between banks and tech firms.
Fraud, Scams & Cybercrime
Japan Announces New Measures to Protect Society from Fraud
By Manesh Samtani | 28/04/2025
Among the series of measures, law enforcement agencies will create dummy accounts and allow fraud groups to use them to trace the flow of money.
Anti-Money Laundering
Vietnam Property Tycoon has Sentence Reduced After Repaying Victims
By Mark Johnston | 28/04/2025
Property tycoon Truong My Lan has a life sentence for bond fraud reduced to 30 years, but is still facing execution on other charges.
Fraud, Scams & Cybercrime
HKMA Launches Tender to Build Payment Data Analytics Platform
By Manesh Samtani | 28/04/2025
The objective of the new platform is to improve the identification and detection of fraud, mule accounts and other financial crime activities.
Fraud, Scams & Cybercrime
FBI Identifies Hong Kong as Top Destination for Fraudulent Wire Transfers
By Manesh Samtani | 27/04/2025
Other top international destinations for fraudulent wire transactions in 2024 included Vietnam, Philippines, India and China.
Fraud, Scams & Cybercrime
UPDATED: Malaysia Investigating Unauthorised Trading Activities
By Nithya Subramanian | 26/04/2025
Several brokers reported unauthorised trading in client accounts on Thursday, but the issue is “contained”. Similar incidents were recently reported in Japan.
Fraud, Scams & Cybercrime
Nine Sentenced in Chinese Fraud Scheme Targeting Indian Investors
By Mark Johnston | 26/04/2025
The perpetrators targeted Indian victims on social media and duped 66,800 of them out of INR 517 million.
KYC & CDD
China Launches Pilot Programme to Automate Audit Report Verification
By Manesh Samtani | 26/04/2025
Eight pilot banks will be able to use a new system to verify that audit reports received from loan applicants are genuine and up-to-date.
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