FRAUD

Wirecard to beef up management amid fraud allegations; CEO to stay

BERLIN (REUTERS) - The new chairman of Wirecard said the German payments company needed to strengthen its top management as it fights allegations of fraud and false accounting, while giving chief...

Wirecard chairman quits as accounting controversy lingers

SAN FRANCISCO • Wirecard chairman Wulf Matthias has resigned after months of controversy over the digital payments company's accounting practices involving its Singapore operations.

Action taken against unauthorised middlemen: Gojek

Ride-hailing firm Gojek says it has taken steps to tackle the problem of fraudulent rides being offered through its platform and will continue to strengthen its fraud prevention mechanism.

Super-app scams in spotlight as Grab beefs up its anti-fraud team

WITH their fingers in many pies of the digital economy, super-app players like Grab and Gojek could become increasingly attractive targets for malicious actors.

10 nabbed after Grab detects GrabHitch accounts with fraudulent transactions amounting to $41,800 in losses

SINGAPORE - Three men, believed to be the masterminds behind a GrabHitch payment fraud syndicate, have been arrested by police and are to be charged in court.

Wirecard denies fresh fraud allegations as shares plunge again

FRANKFURT (AFP) - Shares in German payments processing group Wirecard plunged for the third time in little more than a week on Thursday (Feb 8), as the Financial Times alleged senior executives...

Forensics on Trek 2000 reveal millions in suspected fake sales, roundtripping

A FORENSIC review into the dealings of Trek 2000 International has uncovered some damning findings, from the fabrication of sham documents to fictitious sales with companies that do not appear to...

Trial starts for man accused of helping businesses make false claims for cash payouts

SINGAPORE - A man went on trial on Monday (March 26) for helping businesses make false claims for cash payouts and bonuses totalling $1.1 million under a government scheme.

Fraud management firm CashShield raises $7m for global growth

Home-grown online fraud management firm CashShield has raised US$5.5 million (S$7.4m) in a funding round led by United States-headquartered fund GGV Capital.

Blumont gets mandatory takeover bid from Malaysian businessman

SINGAPORE - Blumont Group has received a mandatory takeover bid from Malaysian businessman Siaw Lu Howe at 0.018 Singapore cents a share, according to an announcement on Thursday to the Singapore...