What is Financial Services Agency (FSA) Japan? Japan's Financial Services Agency (FSA) is the main regulator of the entire country's financial sector and is responsible for maintaining the stability of the industry. Based in Tokyo, the FSA was established in July 2000 within a department of the Prime Minister's Office. It oversees the [...]

What is Romance Scam? The number of people falling victim to love scams in 2023 increased by more than 20 percent compared to the previous year. This means that one in every ten dating profiles is fake. So people who use these platforms should be extra careful. Financial institutions (FIs) need to be [...]

What is Cryptocurrency Scam? Cryptocurrencies are digital assets that are secured by cryptography, rather than issued by a government or central bank. Provided by the blockchain system, these currencies can be used as a medium of exchange. Bitcoin and other cryptocurrencies (Ethereum, Ripple's XRP, Binance, Tether) attracted a lot of attention in 2017, [...]

What is The Financial Intelligence Unit-The Netherlands (FIU-NL)? The Netherlands’ national agency that combats money laundering and financing of terrorism is called Financial Intelligence Unit – The Netherlands or FIU – NL. Created to protect the Dutch financial environment, FIU-NL receives, processes and shares financial information to involve interest law enforcement bodies. This [...]

What is Securities Fraud? Giving information about securities fraud, it can be stated that it is a type of white collar crime that refers to fraud committed in securities trading within a stock or investments. The main objective is to control the shareholders and make them decide wrongly with material that is also [...]

What is Synthetic Identity Fraud? Synthetic identity refers to such things like obtaining real and fake information and such identity cannot be easily detected. It is employed to create various accounts, acquire credit and forge other related ways of embezzlement and fraud. It is challenging to detect because it often involves the use [...]

What is Mortgage Fraud? Mortgage fraud is a financial crime involving false information on mortgage applications to secure loans that wouldn't be approved under normal conditions. The primary purpose is to deprive lenders and receive loan approval or better terms for the loan with deceit. Fraud in mortgages can be carried out by [...]

What are Financial Intelligence Units (FIUs)? FIUs are officially recognized bodies endowed with the tasks of collecting, processing and exchanging information relating to the subject matters of money laundering, terrorism financing and every other form of financial crimes. They act as the focal point for receiving suspicious transaction reports (STRs) from the financial [...]