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EMI Flagged Nearly 40% of UK’s E-Money Exchanges for Money Laundering Risk
A report from Transparency International revealed that nearly 40% of the UK’s e-payment companies...
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Google launches a new website to educate people about online scams
Hackers are more active during the COVID-19 outbreak than normal routine, considering which Googl...
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Taiwan Finalise New Regulations for Offshore Crypto Exchanges
Taiwan is set to disclose new obligations for offshore crypto exchange companies, with rigid Anti...
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Cambodia Seeks Exit from FATF Grey List in Early 2023
Cambodia has finally invited the Financial Action Task Force (FATF) to evaluate its progress in f...
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Data of Half-Million Chicago Students Exposed in a Ransomware Attack
The personal information of more than half a million Chicago students and the staff was accessed ...
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Prosecutors Raise Questions About KYC/AML Against Cryptocurrency Mixers
According to the prosecutors and financial regulators, cryptocurrency mixers are reportedly being...
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United Nations Calls for a Pact to Fight Financial Crimes
United Nations’ panel of experts has called on the governments around the world to take part in e...
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Travel to Restart as Several Countries Roll out Their Version of Vaccine Passports
Japan is planning on introducing a vaccine passport to make travelling easy for people. Internati...
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Updated Crypto AML Rule in South Korea Set to Take Effect from 25th March
South Korea’s official financial regulatory body, the Financial Services Commission (FSC), announ...
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Online Gaming Company Fined €386,000 for AML Failings
Online Amusement Solution Limited, a gaming company, was fined more than €386,000 by the FIAU for...
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£23.8 Million Fined to MT Global for AML Non-Compliance
A Money Service Business (MSB) firm, MT Global, penalized by HM Revenue and Customs for breaching...
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Online Gambling Operator Penalized Over Failure to Meet Anti-Money Laundering Regulations
Boylesports, an online gambling operation is facing £ 2.8 million in fines for violating the regu...
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FirstBank of Nigeria Continues Commitment to Combating Money Laundering
Chief Executive Officer of the First Bank Group of Nigeria Limited, Dr. Adesola Adeduntan, noted ...
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Sweden Points Out the Rising Cases of Money Laundering in Gaming Industry
Financial Police of Sweden has revealed a report that highlights more than 700 cases of money lau...
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UAE Issues a Total of $11 Million in Fines for AML Offenses in First Half of 2022
UAE’s AML task force has imposed fines of over Dh41 million ($11m) in the first six months of 202...
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EU Parliament Committee Backs MiCA Deal to Effectively Manage Crypto
The MiCA deal has been approved by the economic committee of the EU Parliament. The committee has...
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Chinese Firms to Test Crypto Opportunities in Hong Kong
Chinese Security companies and banks are attracted by Hong Kong’s retail trading in Bitcoin and E...
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Saudi Arabia Permits 9 FinTech Companies to Operate in Regulatory Sandbox
The Saudi Arabian Monetary Authority (SAMA) announced that it has allowed nine more FinTech firms...
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Man Sentenced to 5 Years in Jail for Laundering $2.6M Through BTC ATMs
UK law enforcement authorities recently sentenced a 22-year-old man named Bazyli Rymarz to 5 year...
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Shufti Unveils New Product NFC Verification for NFC Based Identity Verification
Shufti has launched a new product, NFC Verification, that uses Near Field Communication techn...
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Research and Data are Key to Developing Fair Crypto Regulations, Say Blockchain Experts
As global regulators are looking to have control over crypto, blockchain analysts say that lawmak...
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AUSTRAC to Update Guidance for Threshold Transaction Reporting
AUSTRAC has made it mandatory for reporting entities to include a threshold transaction report (T...
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Switzerland Introduces New Regulations To Clamp Down on Money Laundering
Switzerland proposed new Anti-Money Laundering (AML) regulations to crack down on money launderin...
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Philippines to Exit FATF Gray List Next Year, Says Governor BSP
Felipe M. Medalla, the governor of BSP, says that the Philippines have one year to exit the FATF ...
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EU and British Financial Watchdogs to Investigate Digital Stock Tokens
The German and British regulators are reportedly investigating the stock token trading, recently ...
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UAE to Demonstrate Effective Financial Crime Prevention to be Removed From FATF Gray List
The economic secretary of the UK recently stated (April 25th, 2023) that the United Arab Emirates...
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ASIC Expands its Team to Enhance Cryptocurrency Regulations
Australia’s financial regulator has enhanced the size of its crypto team. The crypto regula...
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Deutsche Bank to Revise its Compliance and Risk Management Functions
Deutsche Bank is working on reforming its compliance function and risk management measures. The b...
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MFSA Tightens Financial Regulations for Lawyers, Auditors, and Accountants
Professionals in Malta, lawyers, accountants, and auditors, etc. are resisting the new rules that...
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Cryptocurrency brought under AML rules in Singapore
Coinpip, the Singaporean cryptocurrency provider, has closed down its operations, in spite of dec...
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ICAIE Issues Report on Trade-Based Money Laundering in Free Trade Zones, Ports, & Safe Havens
The ICAIE released a new report called “The Dark Side of Illicit Economies and TBML: Free T...
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Hong-Kong Police Crack money-laundering Cartel of Processing HK$119 Million in 2 months
Hong Kong police have rounded up 11 men in a crackdown on a cross-border syndicate with a suspect...
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US Senators Push Congress to Regulate Crypto Amid FTX Turmoil
US senators have urged Congress to regulate cryptocurrencies under current financial regulations ...
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Banks Introduce Confirmation of Payee to Tackle Fraud
The Confirmation of Payee (CoP) system was launched in October 2018 but implementation was delaye...
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Digital euro successfully tested at the Bank of France
On May 20, Banque de France announced that France has become the first country to successfully te...
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UK Mandates Enhanced Due Diligence on High-Risk Jurisdiction
Authorities in the UK rolls our new regulatory measures to perform enhanced due diligence for hig...
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Canada’s Federal Agencies to Consult on Anti-Money Laundering and Counter-Terrorism Measures
The Canadian government has launched a public consultation to strengthen the country’s anti...
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UAE Extends the Deadline for DNFBPs to Register for AML Regulations
The Ministry of Economy (MoE) in Abu Dhabi has announced the deadline extension for the registrat...
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Qatar Takes Steps to Strengthen its AML/CFT and Sanctions Compliance
A webinar organised by ICC Qatar emphasised the efforts of Qatar to strengthen its AML/CFT and sa...
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DHS 19.5 Million Fine Imposed on UAE Banks for AML Failings
The Central Bank has imposed Dhs 19.5 million fine on UAE’s banks for shortcomings in the AML fra...
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Conveyancers Used for Laundering Millions of Pounds across the UK
Government warns that hundreds of millions of pounds are being laundered by criminals across the ...
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EU Freezes $130 Million Worth of Assets Linked to Money Laundering in Lebanon
France, Germany, and Luxembourg have seized the properties and frozen assets worth $130 million l...
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Binance to Strengthen KYC Measures & Sanctions Enforcement with New Partnerships
The global crypto exchange Binance has announced that it will strengthen its KYC controls & s...
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Real Estate is Becoming a Primary Target for Money Launderers in the UK
According to a government report, Luxury London homes are a new method to launder illicit funds. ...
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AUSTRAC to Audit Three Bell Financial Group Entities to Evaluate AML/CFT Compliance
AUSTRAC has called for the audit of three entities under the Bell Financial Group, including Bell...
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Transparency International Declares South Sudan Second Most Corrupt Country
In the East African region, South Sudan has been ranked as the most corrupt country in the world....
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SMEs Decry Registration Hurdles Owing to SCUML Certificate
SMEs have decried hurdles in opening business/corporate accounts due to the Anti Money Laundering...
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Dark Web Becomes a Haven for Insurance Fraud
Dark Web has recently become a growing market for unemployment insurance fraud and fraudsters can...
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FinCEN Pinpoints Bitzlato as “Primary Money Laundering Concern”
FinCEN recognises Bitzlato Limited, a Hong-kong based virtual crypto exchange network, as a prima...
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The FATF Gives The Philippines 2-3 Months to Address Remaining Deficiencies
Chuchi G. Fonacier, Deputy Governor of the BSP, said 4 of the 8 remaining Financial Action Task F...
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Failure to Join FATF Will Increase Economic Pressure
According to a top diplomat, Iran’s refusal to comply with the requirements of the Financial Acti...
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Shufti picks up two business awards
October has been an amazing month for Shufti. In September it was nominated for outstanding p...
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Shufti introduces react native app for customer convenience
Recently, Shufti launched its react native app for enhanced customer convenience.
Shufti ...
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Google plans to conduct identity verification of advertisers
Google stated in a blog post on Thursday that it will soon require all advertisers to verify thei...
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Canada to Establish Beneficial Ownership Registry to Fight Financial Crimes
The Candian Federal budget has brought good news for the supporters of anti-money laundering. The...
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US Accuses Crypto Firms for Serving as Money Laundering Hub
The US Treasury’s department targeted the crypto mixers to combat internationally operated financ...
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Dubai Court Sentences Gang of 18 for Charges of Money Laundering
The Dubai Criminal Court has convicted a gang of 18 individuals belonging to different countries ...
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Poker Machines Being Preyed by Criminals Amidst COVID-19 Pandemic
During the five months of lockdown due to the COVID-19 pandemic, there has been a growth of 305 U...
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Swedbank cuts former CEO’s Golden Parachute over Money-Laundering
STOCKHOLM – Swedbank has canceled the severance pay of former CEO, Birgitte Bonnesen after ...
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US DOJ Arrests Two in Alleged NFT Money Laundering, Rug Pull Scheme
The US Department of Justice has arrested two in a $1.1 million non-fungible token fraud and mone...
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Aussies Bombarded With Scams in 2022 – ACCC Report
The Australian Competition and Consumer Commission (ACCC) reported Aussies as the top target of s...
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Turkey Remains on the FATF Gray List for AML Regulations Failures
Turkey’s government has failed to comply with Anti-Money Laundering (AML) and Counter-Financing T...
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DC is the Latest State to Sue Juul over Targeting Minors
The District of Columbia is now the latest state to sue c-cigarette maker, Juul Labs, saying the ...
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Amazon Challenges Pentagon’s $10 Billion Contract To Microsoft
Amazon said on Thursday, that it is going to challenge a $10 billion contract awarded to Microsof...
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UAE Establishes Anti-Money Laundering Bodies to Enhance Global Monitoring
The United Arab Emirates is enhancing its money monitoring system to combat illicit cash flows, m...
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UK watchdogs launch ad-scam alert system to control online fraud
The United Kingdom Advertising Standards Authority (ASA) and the Internet Advertising Office (IAB...
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European Commission Removes Morocco From High-Risk Money Laundering Watchlist
On Wednesday, the European Commission disclosed that Morocco was no longer listed on its high-ris...
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G20 regulator warns countries to alleviate risks of Libra-like stablecoins
The Financial Stability Board (FSB) has alerted national regulators to gauge standards and tackle...
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Failure to Join FATF Will Increase Economic Pressure
According to a top diplomat, Iran’s refusal to comply with the requirements of the Financial Acti...
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$196M Lost in BitMart Hack, Crypto Analysts Warn More Will Come
BitMart, one of the world’s largest cryptocurrency exchanges, lost $196 million in a recent...
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Norway’s DNB is Facing a Possible Fine of $45M for Poor AML Compliance
Norway’s leading bank, DNB ASA, faces the possibility of a $45 million penalty for its inadequate...
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$320 Million Worth of Cryptocurrency Stolen in Wormhole Hack
A recent hack on one of the most popular blockchain bridges linking Ethereum and Solana led to th...
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