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Ransomeware gang demands $42M or it releases Trumps ‘Dirty Laundry’
A ransomware gang stole about 1TB of legal secrets from the most important names in the entertain...
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FATF to “Gray List” UAE for AML Failings
The Financial Action Task Force (FATF) is considering adding the United Arab Emirates to its gray...
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Central Bank of Nigeria (CBN) Raises Concerns Over KYC and AML Protocols
The Central Bank of Nigeria (CBN) has intensified pressure on financial institutions (FIs) to imp...
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HKMA Issues Guide for Regtech Adoption in Customer Monitoring
The second guide published by the HKMA will allow banks to test their internal measures and infra...
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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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SEC Orders Finance, Lending Companies to Submit AML Plans by 21 June
Philippine’s SEC has ordered all financing and lending companies to submit their plans for the im...
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AUSTRAC Throws in Hands in their Fight Against Money Laundering through Casino Junk Operators
Australian regulatory bodies to fight financial crimes have known for quite a time that casino ju...
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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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Melbourne Casino Crown Faces New Money Laundering Scandal
Crown’s licence for its Sydney casino has been suspended after an investigation revealed it facil...
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EU Watchdog Takes Deep Dive Into Banks’ Use of Technology
EU’s banking watchdog has recognized the need for RegTech solutions and proper regulatory standar...
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Swiss Government Gears Up to Establish a Central Registry for Beneficial Ownership
The Swiss government plans to set up a central registry for beneficial ownership, a step that ind...
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Electronics Giant Samsung Confirms a Data Breach Affecting Personal Information of Customers
Samsung announced a data breach involving customers’ personal information, assuring that so...
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Revised Financial Regulations in South Korea Now Covers Crypto Investors
The financial regulators in South Korea announced that domestic crypto investors would be covered...
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AUSTRAC Initiates Probe into Sportsbet and Bet365 over Money Laundering Suspicions
AUSTRAC launches investigations into gambling firms for suspicions of failing AML/CFT compliance,...
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FATF says governments ineffective in stopping money-laundering
According to David Lewis, Executive Secretary, Financial Action Task Force (FATF), governments ar...
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IMF Seeks Tighter Checks on Kenyan Banks Amid Money Laundering Concerns
The International Monetary Fund (IMF) is tightening the checks to prevent money laundering and wa...
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UK Treasury Committee Launches Inquiry into the Role of Crypto Assets and the Associated Risks
The Treasury Committee of the UK’s House of Commons has urged the public to submit their take and...
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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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Liberian Ministers Allegedly Laundering Money Using Foreign Lobbying Contracts, Investigation Reveals
Liberia, one of the poorest countries in the world, is said to spend an enormous and highly suspi...
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Chinese Watchdog Taking Action Against Many in the Massive Bank Fraud
The biggest bank fraud in China pushed the government to arrest hundreds of suspects. Regulators ...
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Guyana Holds US-Sponsored Conference to Examine Asset Recovery and Money Laundering Issues
The Judiciary of Guyana organised a two-day conference in collaboration with the US Department of...
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South Korea Demands Crypto Exchange Data from Banks for Tighter Regulations
The financial regulators in South Korea are seeking crypto exchange data from the banks in order ...
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China’s digital yuan to be tested by 19 firms including McDonald’s and Starbucks
Starbucks and McDonald’s are among 19 businesses that will test China’s new digital c...
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Senate Reveals a 12-Year-Old Loophole Targeted by Americans to Cheat IRS
Offshore tax loopholes are safe havens for wealthy Americans to cheat the Internal Revenue Servic...
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Visa, Mastercard Face FTC Inquiry Over Debit Card Transactions
Visa Inc. and Mastercard Inc. are once again facing inquiries by the Federal Trade Commission ove...
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Nonprofit Guam Shrine Club Under Fire for Alleged Illegal Gambling and Money Laundering
Seven people, three GSC officers and four other individuals from Guam Shrine Club, a nonprofit or...
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Russian Financial Authorities Reach Consensus on Crypto Mining Regulation
Russian financial authorities have adopted a common ground on cryptocurrency mining regulation. T...
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FATF Updates on South Africa’s AML Compliance Progress
A report on South Africa’s progress in implementing AML procedures to prevent money launder...
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Saskatchewan Government Invests $1.66m to Support Fight Against Money Laundering
The Government of Saskatchewan is spending $1.66 million on the Civil Forfeiture Program to back ...
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Cambodia and China Strengthen Ties to Combat Illegal Online Gambling and Scams
China’s Premier Li Keqiang and Cambodia’s PM Hun Sen have given a green signal to strengthen thei...
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FATF Highlights the Increasing Risk of Trade-Based Money Laundering
FATF- Financial Action Task Force is warning businesses of the risk they face regarding trade-bas...
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Clearview AI will be facing the legal claims after critical NYT report
Clearview AI is an artificial intelligence firm providing facial recognition technology to US law...
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Sydney’s ‘Mini Casino’ Venues Suspected for Money Laundering
Sydney’s 10 “mini-casino” poker venues have been suspected of money laundering activities.
Accord...
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Zoom improves user security by incorporating 2FA for all users
Zoom confirmed adding 2-factor authentication (2FA) for all the users of the platform. This marks...
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Oman’s OCCI Says ‘Money Laundering in Real Estate Needs Monitoring’
Oman Chamber of Commerce and Industry (OCCI) has called for a review of the legislation that gove...
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FTX Customers File Class Action Against Bankrupt Crypto Exchange
FTX customers had filed a class action against the bankrupt crypto exchange and its ex-CEO Sam Ba...
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FATF Calls for Tighter Regulations to Fill Voids in Virtual Asset Compliance
The Financial Action Task Force (FATF) highlighted a regulatory gap in the compliance system for ...
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Belgian financial sector launches campaign to help consumers avoid online fraud
The financial sector’s federation, Fibelfin, is initiating a campaign to respond to the sense of ...
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FBI Seizes $1.7M During 3-Month Crypto Operation
During a 3-month operation from March to May, the FBI seized $1.7m worth of cryptocurrencies, inc...
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EU Court of Justice Passes Judgement Against Provision of AMLD5
EU Court of Justice has passed a judgment against the provision of the AMLD5, concluding that pub...
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TD Bank Agrees to Pay USD 1.2 Billion to Settle Investor Lawsuit
Toronto-Dominion Bank has agreed to pay US $1.2 Billion to settle an investor lawsuit which claim...
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AML Council to Impose Sanctions on Property Dealers for Non-compliance
The Philippines’s Anti-Money Laundering Council (AMLC) is all set to impose sanctions and fines o...
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EU Legislation Bans On-cash Deals Over €10,000 Due to Money Laundering Threats
The European Union’s ban on cash payments over €10,000 for transactions such as car payments is e...
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UAE to be Removed from FATF Gray List in 2024
The UAE’s Minister of State for Foreign Trade and chairman of the Emirates Bullion Committee hope...
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UAE Authorities to Coordinate Efforts Against ML/TF Among NPOs
The UAE’s Ministry of Community Development and the Financial Intelligence Unit have established ...
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Phishing Scams Spike As Holiday Season 2021 Approaches
64% of the top courier companies have insufficient protection against phishing scams and other fr...
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Officials of 16 Countries Teamed Up for a Major Transnational Operation against Money Laundering
On October 15, Europol announced its successful operation against a renowned criminal group calle...
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Turkey to Face FATF’s Gray List Over Inadequate AML Practices
FATF is set to grey list Turkey over AML shortcomings, a move that is likely to affect the countr...
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Guyana plans Amending Anti-Money Laundering Legislation
The government of Guyana is looking to amend the AML/CFT legislation in the National Assembly to ...
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FBI Warns of Tech Support Scammers Compromising Financial Accounts
The Boston Division of the Federal Bureau of Investigation (FBI) has warned of an increase in num...
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SRA Fines Oxfordshire Law Firm over Weak AML Controls
The SRA (Solicitors Regulation Authority) has charged £20,000 to an Oxfordshire law firm after id...
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Former NFL Player Guilty of Identity Theft, COVID-19 Relief Fraud
Ex NFL player has been found guilty to one count of unauthorized access device fraud and one coun...
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US Infrastructure Bill Eyes on Introducing Stringent Crypto Provisions
The infrastructure bill proposed in the US Congress aims at revamping how crypto exchanges perfor...
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Central Bank Of China Tightens Financial Regulations to Curb Money Laundering
The Central Bank of China is tightening financial regulation to put limits on transactions, aimin...
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NY’s Attorney General Warns the Crypto Industry Against Illicit Activities
Letitia James, Newyork’s Attorney General, has sent a clear message to the entire crypto industry...
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UK to Regulate Stablecoins & Mint its Own NFTs to Become Global Crypto Hub
The UK is reportedly planning to regulate stablecoins as a payment method and the Royal Mint is t...
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Dubai Sets up Special Court to Tackle Money Laundering
The new court of law has been established to combat money laundering and related financial crimes...
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US Firm Fined with Half a Million Dollars for Violating US Sanctions
A crypto firm, BitPay will now have to pay a fine of half a million dollars to the U.S Treasury’s...
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Social Media Firms May Face Parallel Regulation – Says Data Protection Authority
Social media platforms approached the I&B ministry citing apprehension that they may face par...
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US Regulators Worried about the Rise in Synthetic Identity Fraud
Synthetic identity fraud, a financial crime in the USA, is on the rise. This has concerned the Un...
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Indonesia to Pass Regulations to Control Money Laundering
Indonesia is looking to develop a strong regulatory framework to curb money laundering and terror...
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Colombian Money Laundering Watchdog Delays Crypto Transaction Reporting Regime
The UIAF has postponed the date for crypto exchanges and individuals to start reporting their tra...
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$8M seized, Four Arrested for Money Laundering Activities Across Sydney
The Sydney law enforcement authorities seized more than $8 million in cash and arrested four crim...
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SriLankan Government to Enforce Money Laundering Law to Restrict Illicit Flow of Money
The current scenario of the Sri Lankan currency’s downfall has become a reason for money la...
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CFTC Fines CHS Hedging for AML and Other Violations
The Commodity Futures Trading Commission (CFTC) has fined CHS Hedging a civil monetary penalty of...
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Global Drug, Money Laundering Hub Busted in Las Vegas
Federal law enforcement officials in Las Vegas have dismantled an international money laundering ...
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China Enhances AML Obligations to Combat Money Laundering
Chinese authorities have released the latest guidelines to enhance security in the financial sect...
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30 Swiss Banks Failed Money Laundering Regulatory Analysis Test
The Swiss financial regulatory authorities overviewed the security of the banking sector and noti...
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MAS Ramps Up Efforts Against Financial Crimes With the Help of Data Analytics
Singapore’s central bank has revealed in a report on Wednesday that financial criminals will be p...
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SEC Charges $79 Million Penalties on Broker Companies for Deficiencies in Recordkeeping
The Security and Exchange Commission (SEC) has imposed $79 million worth of penalties on brokerag...
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TSB Fined $3.5M on Account of Four AML Breaches
New Zealand’s High Court has fined Trustee Savings Bank (TSB) Ltd NZD 3.5 million following the b...
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Banks in the UK Face Customer Frustration for Digital Identity Checks
The global analytics software service provider FICO has reported that the banks in the United Kin...
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