Financial Crime

Fraud, Scams & Cybercrime

MAS, IMDA Propose Loss Sharing Framework for Phishing Scams

By Manesh Samtani | 25/10/2023

The framework assigns FIs and telcos duties to mitigate phishing scams, requiring them to bear full losses where these duties are breached.

Fraud, Scams & Cybercrime

Philippines: Immigration Officer Jailed for Falsifying Wirecard COO Travel Records

By Mark Johnston | 25/10/2023

The immigration officer was sentenced to nine years in prison for tampering with travel records for Jan Marsalek, who is wanted by INTERPOL.

Supervision & Enforcement

SEBI Enlists 12 Entities to Provide Digital Forensic Services

By Ajoy K Das | 25/10/2023

The enlisted entities would be expected to extract and analyse digital evidence from devices during onsite search and seizure operations.

Fraud, Scams & Cybercrime

Authorities Take Down Ragnar Locker Ransomware Gang

By Mark Johnston | 25/10/2023

Europol said a joint operation resulted in the arrest of the main perpetrator behind the ransomware group and the takedown of its infrastructure.

Conduct, Culture & Accountability

US SEC Fines BlackRock Unit Over Inaccurate Investment Descriptions

By Editors | 25/10/2023

BlackRock Advisors LLC incorrectly described a company that a fund it advised invested in and the interest rate the investment paid.

KYC & CDD

Australian Fintech Consortium Launches Solution to Tackle Verification and Identity Theft

By Mark Johnston | 25/10/2023

AP+ launches ConnectID, a service that lets customers verify their identity without oversharing their data, becoming the first non-government accredited […]

Fraud, Scams & Cybercrime

ABS Says Anti-Scam Measures Have Been Effective

By Editors | 25/10/2023

Banks prevented more than S$57mn in scams in the first nine months of 2023, and are applying discretionary goodwill frameworks to cushion victims.

Payments & Settlements

Wolfsberg Group Updates Payment Transparency Standards

By Editors | 25/10/2023

The updated Standards support the use of the LEI in global payments, which GLEIF welcomed as a “strong endorsement”.

Cybersecurity

Europol Explores How Quantum Computing Will Impact Law Enforcement

By Mark Johnston | 24/10/2023

Europol report says law enforcement agencies need to build up their knowledge and transition to post-quantum cryptography.