AML / KYC

AML / KYC

Hong Kong, Macao Authorities Arrest Seven in Joint Operation

By Sanday Chongo Kabange | 23/08/2024

The SFC, ICAC and the Macao Judiciary Police arrested seven individuals for suspected fraud, including the chairman of a listed company.

AML / KYC

Binance and Macau Police Launch Campaign to Combat Scams

By Editors | 23/08/2024

Binance has partnered with the Macau Judiciary Police to launch an anti-scam campaign, aiming to protect users from the risk of fraud in the digital space.

Securities / Derivatives

US SEC Fines Transfer Agent for Failure to Guard Against Cyber Fraud

By Editors | 23/08/2024

The transfer agent’s failures led to more than $6.6mn in losses from two separate cyber intrusions, one of which involved Hong Kong bank accounts.

AML / KYC

All Eyes Are on Singapore and its Fight Against Dirty Money

By Tom Keatinge | 22/08/2024

For the past two years, Singapore has led the global fight against dirty money. It’s now time for it to focus on the home front again, says Tom Keatinge.

AML / KYC

South Korea Implements Measures to Prevent Insurance Fraud

By Editors | 22/08/2024

South Korea has intensified its efforts to combat insurance fraud with the enactment of new laws and extensive public awareness campaigns.

AML / KYC

Singapore Jails Former Healthcare Execs for Defrauding Banks

By Ranamita Chakraborty | 22/08/2024

Maybank, Standard Chartered, DBS, UOB, Citibank, and HSBC were defrauded of SGD 69 million through the use of forged documents.

Enforcement

Polish National Arrested in Montenegro for Crypto Fraud

By Mark Johnston | 22/08/2024

Both Poland and South Korea are seeking the extradition of crypto founder Roman Zimian to face fraud and money laundering charges.

AML / KYC

Singapore Advisory Panel Calls for Stronger Penalties to Deter Scams

By Nithya Subramanian | 22/08/2024

The panel recommends a minimum six-month jail term for those who allow scammers to control their Singpass or bank accounts.

AML / KYC

BNM Launches Integrated Platform to Help FIs Combat Fraud

By Jaya Prakash Balakrishnan | 22/08/2024

The platform allows automated fund tracing and recovery, information sharing and collaboration, and data-driven mule assessments.