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Malaysia and Singapore to Boost Cybercrime Cooperation in Cross-Border Crime Agreement

Key Takeaway: Cybercrime will be included in Malaysia-Singapore cross-border crime cooperation , as the two countries prepare to renew their Memorandum of Understanding (MOU) on the matter. Malaysia’s Home Minister, Datuk Seri Saifuddin Nasution Ismail, announced that cybercrime will be a new focus in Malaysia-Singapore cross-border crime collaboration . The updated MOU will be signed on Nov 14 during Saifuddin’s meeting with Singapore’s Minister of Home Affairs and Law, K. Shanmugam. This move reflects the growing threat of cybercrime , which costs ASEAN an estimated US$64 billion annually. The agreement emphasizes capacity-building, intelligence-sharing, and joint operations as vital components for addressing cybercrime. The exchange of MOU documents will occur at the Annual Leaders' Retreat on Dec 8 in Malaysia, which will be attended by the prime ministers of both nations. Saifuddin also highlighted plans to discuss border congestion issues and will visit Singapore’s Immi
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Ex-Deutsche Boerse Employee Admits to Insider Trading Over Three Years

A former Deutsche Boerse AG employee, identified only as GP, confessed to insider trading at his trial in Germany. Over three and a half years, GP used non-public information received by Deutsche Boerse from listed companies to trade stocks, including Deutsche Bank AG and Aurubis AG, through his wife’s account.

GP admitted to conducting 14 trades between January 2018 and July 2021, using insider details 30 minutes before filings were made public. He said he felt uneasy about his actions, which ultimately led to €1.3 million in seized assets, though the court may only seize €163,000 based on proven gains.

GP’s actions, unnoticed at Deutsche Boerse, involved small trades that escaped regulatory scrutiny by Bafin for years. His transactions generated €70,000 in profits from a €27,000 investment. Both he and his wife, who worked in HR at Deutsche Boerse and was unaware of the trades, lost their jobs due to the incident.

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