Hong Kong to introduce 3 digital security measures to combat financial fraud

Hong Kong to introduce 3 digital security measures to combat financial fraud

The Hong Kong Monetary Authority (HKMA) will announce on Monday new measures to be implemented by banks to safeguard the public from financial fraud, stepping up its vigilance to prevent scams that caused losses of HK$9.15 billion (US$1.2 billion) last year. Called “E-Banking Security ABC”, the “ABC” refers to tightening “authorisation” methods for transactions, saying…

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Ex-Hong Kong policeman charged in ICAC probe faces 30 extra counts of bribery, fraud

Ex-Hong Kong policeman charged in ICAC probe faces 30 extra counts of bribery, fraud

A former Hong Kong police officer is facing 30 counts of bribery and fraud after he was previously charged by the city’s anti-corruption agency with accepting an unauthorised loan from someone linked to an investigation. Magistrate Frances Leung Nga-yan on Friday approved an application by prosecutors to charge 50-year-old Mak Kwok-hung with the extra counts…

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This Fashion Startup Is At The Center Of A $500 Million Fraud Crisis

This Fashion Startup Is At The Center Of A $500 Million Fraud Crisis

Christine Hunsicker, founder and chief executive officer of CaaStle Inc. speaking at a Bloomberg … More event. Photographer: Mark Kauzlarich/Bloomberg © 2019 Bloomberg Finance LP Axios reported earlier this week that fashion tech company Caastle is virtually broke and its founder, Christine Hunsicker, is being accused of financial misconduct, according to Axios’ anonymous sources. Axios…

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Hong Kong anti-corruption agency arrests 22 people over HK$2 million mortgage fee fraud

Hong Kong anti-corruption agency arrests 22 people over HK$2 million mortgage fee fraud

Hong Kong’s anti-corruption agency has arrested 22 individuals, including 18 bank employees who allegedly accepted HK$2 million (US$257,372) in bribes from an intermediary to defraud the institutions of referral fees in mortgage loan applications. The 13 men and nine women, aged between 31 and 56, were arrested in raids at more than 30 locations earlier…

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Hong Kong anti-corruption agency arrests 22 people over HK$2 million mortgage fee fraud

Hong Kong anti-corruption agency arrests 22 people over HK$2 million mortgage fee fraud

Hong Kong’s anti-corruption agency has arrested 22 individuals, including 18 bank employees who allegedly accepted HK$2 million (US$257,372) in bribes from an intermediary to defraud the institution of referral fees in mortgage loan applications. The 13 men and nine women, aged between 31 and 56, were arrested in raids at more than 30 locations earlier…

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