Fraud, Scams & Cybercrime

Supervision & Enforcement

Japanese Regulator Orders Credit Union to Overhaul Governance

By Thisanka Siripala | 11/03/2025

Japanese regulators uncovered a decade-long cover-up of misconduct, including misappropriated customer deposits and falsified loan transactions.

Fraud, Scams & Cybercrime

Australia Directs ACMA to Implement New Standard to Prevent SMS Scams

By Sanday Chongo Kabange | 11/03/2025

The new standard will require telcos to check whether SMS messages sent using a sender ID correspond with the legitimate registered sender.

Fraud, Scams & Cybercrime

FSS Korea Calls on FIs to Bolster Consumer Protection Measures

By Mark Johnston | 10/03/2025

The FSS urged financial firms to take a responsible attitude towards consumer rights, and conduct self-inspections on their consumer protection systems.

Anti-Money Laundering

China Prosecuted 25,000 Financial Crime Cases in 2024

By Nithya Subramanian | 10/03/2025

Over 3,000 individuals were prosecuted for money laundering using crypto. One prosecution is targeting a criminal group in Myanmar.

Fraud, Scams & Cybercrime

US Charges Chinese Nationals for Involvement in Cyberattacks

By Nithya Subramanian | 09/03/2025

Among the 12 Chinese nationals indicted are two government officers working for the Ministry of Public Security.

Operational Risk

MAS Asks Banks to Improve Commodity Financing Risk Controls

By Nithya Subramanian | 07/03/2025

MAS shared its findings from thematic inspections, highlighting areas where banks and finance companies need to improve.

PEPs & Sanctions

OFAC Sanctions Iranian Administrator of Shuttered Darknet Marketplace

By Manesh Samtani | 05/03/2025

Behrouz Parsarad was designated for contributing to the international proliferation of narcotics via his darknet marketplace, which was dismantled in 2024.

Fraud, Scams & Cybercrime

Singapore Considers Punishing Scam Offences With Caning

By Nithya Subramanian | 04/03/2025

The government will expand its efforts against money mule activities in 2025 and consider prescribing caning as a punishment for certain scam-related offences.

Fraud, Scams & Cybercrime

Singapore Charges Three for False Representation in Chip Smuggling Case

By Nithya Subramanian | 04/03/2025

The charges come after US officials started a probe last month to determine whether DeepSeek sourced advanced Nvidia chips through third parties in Singapore.