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SRA Fines a Law Firm £14,000 for Breaching ID Verification Regulation
A business organization is being penalized £14,000 by the Solicitors Regulation Authority (SRA) f...
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Enhanced AML/CFT Framework Pays Off – Mauritius Off FATF’s Grey List
Implementing an enhanced AML/CFT framework brings terrific news for Mauritius as they are off FAT...
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FATF issued guidance on risk-based AML/CFT policies
The Financial Action Task Force has issued finalised supervision on adopting a risk-based strateg...
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Danske Bank Under Fire Over AML Shortcomings
The FSA has reprimanded Sweden’s Danske Bank over ‘shortcomings’ in its anti-money laundering con...
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FinTech in Malaysia is Improving Due to Friendly Regulations
Malaysia has taken a user-friendly approach to adapt to financial regulations as it is working to...
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UK Government to Introduce Age Verification Laws For Adult Websites
To restrict minors’ access to adult-oriented content, the UK government is working on impos...
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FBI Warns About the Emerging Fraud Related to COVID-19 Vaccine
The Office of Inspector General, U.S Department of Health and Human Services, FBI, and Centers fo...
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FCA Fines Bastion Capital For Serious AML Failings
The Financial Conduct Authority (FCA) has imposed a fine on Bastion Capital London for serious AM...
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EU Lawmakers Propose New Bill to Combat Money Laundering through NFTs
Members of the European Parliament have proposed a new bill to increase scrutiny of the NFT and D...
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“Crypto Should Be Regulated, Not Prohibited”, Says ECB Vice President
After his statement in May that declared cryptocurrencies as a risky investment, the Vice Preside...
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Amendments in Thailand’s Money Laundering Act to Include New Offenses
A proposed amendment in Thailand’s Money Laundering Act was approved by the cabinet to include ad...
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Brazilian Police Block Crypto Assets Due to Suspected Fraud
Brazilian police have requested the court to block the virtual assets of suspected digital tradin...
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AML and Crypto Fines Surge to £4bn in Regulatory Crackdown
The global AML fines surged 53% in 2022, while crypto fines rose over 90% as regulators cracked d...
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International Student Sues Commonwealth Bank for Money Laundering Scam
An Indonesian student and her family sued the Commonwealth Bank as they lost millions of dollars ...
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EU Contemplates New Anti-Money Laundering Body in the Wake of Scandals
Brussels plans to pursue the strengthening of powers of the EU agencies to combat money launderin...
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59 Arrested in Vietnam Crackdown on Illegal Crypto Gambling Group
Law enforcement bodies arrested 59 Vietnamese in illicit gambling schemes and were suspected of $...
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Labor Party Victim of a Second Cyber-Attack
Britain’s Labour Party has informed that it had been a victim of a large-scale cyberattack on its...
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G20 Summit Agrees to Establish a Unified Global Crypto Framework to Prevent Digital Money Laundering
The G20 Summit signed to establish a global unified regulations framework to regulate digital tra...
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Pokies are Safe Havens for Criminals to Clean Dirty Money – Says NSW Crime Commission
According to findings of a multi-agency investigation released by the NSW Crime Commission, pubs ...
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Bank of Ghana Proposed Guidelines to Strengthen AML/CFT Regulation
The Bank of Ghana proposed guidelines for banks to enhance the Anti-Money Laundering and Combatin...
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Tesla Data Breach Leaks Personal Information of 75,000 Customers
Confidential data of approximately 75,735 people, including names, cell phone numbers, and addres...
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FATF Removes Malta From gray List of Untrustworthy Financial Jurisdictions
After one year of being included in the FATF grey list, the global action committee has voted Mal...
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Two Bank Workers Banned by Central Bank in the Philippines for Wirecard Fraud
Two bank workers, involved in issuing fake documents, have been banned by the Central Bank. The a...
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Vietnam Govt to Introduce Crypto Research Group to Evaluate Policy
Vietnam’s Ministry of Finance has plans of establishing a research group with the aim of studying...
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Google Warns 12,000 Victims of Government Hacks
In just three months, from July to September 2019, Google sent out 12,000 warnings to people who ...
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Shufti Introduces Digital COVID Pass for COVID Test Verification
Shufti has launched a Digital Covid Pass solution to promptly verify the COVID PCR-test repor...
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China’s Fight Against Rampant Telecom Scams – Cracked 5,94000 Cases in Just 15 Months
China has passed a law to prevent telecom and online scams, allowing enforcement agencies to foll...
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South Africa Issues Stricter Guidelines for Crypto Traders
To prevent the surging cases of financial crime, South Africa has introduced rigid regulations fo...
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The Bahamas to Launch a Payment Card for Central Bank Digital Currency
Bahamas’ Central Bank has joined hands with Mastercard and digital payment startup Island Pay to ...
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SA’s Healthcare Organizations Become the Latest Prey for Cybercriminals
COVID-19 pandemic has paved the way for cybercriminals to target South Africa’s healthcare organi...
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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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US Launches First Criminal Prosecution for Alleged Cryptocurrency Sanctions Case
Criminal charges are issued by the US Justice Department for the first time for transmitting more...
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Japan Calls for Disclosure of Major Company Shareholders
Japan’s Ministry of Justice will require firms to submit details of their major shareholders, als...
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UAE startup relies on Blockchain to flatten COVID-19 curve
In5, UAE based start-up incubator, is assisting to design blockchain-based techniques to suppress...
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UAE Firms Must Disclose UBO’s to Avoid Dirty Money Watch List
500,000+ firms in the UAE (United Arab Emirates) face disclosure of their Ultimate Beneficial Own...
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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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Gary Gensler- Former CFTC Chair to Join President-Elect Biden’s team as Financial Expert.
A crypto-savvy and a CFTC (Commodity Futures Trading Commission) chair from President Obama’s gov...
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Mexico: Federal Anti-Money Laundering Agency Freezes 1352 Accounts for Money Laundering
On Tuesday, the police and federal anti-money laundering agency said that they have frozen 1352 b...
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FATF puts Morocco on the Gray List for Pervasive Money laundering
Financial Action Task Force, the global regulatory watchdog for money laundering, has placed Moro...
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Sri Lankan Regulatory Authorities Enforce AML/CFT Measures to Avoid FATF Grey and Black List
The Financial Action Task Force (FATF) started cracking down on Sri Lanka’s financial institutes ...
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Egypt Government to Establish Central Bank Unit for AML and CFT
On Wednesday the cabinet approved a draft law amending some regulations within the Anti-Money Lau...
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Crypto Exchange BKEX Freezes Withdrawals Under Money Laundering Investigation
BKEX withdrawals were suspended after funds on its platform were used to launder money, according...
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Kyrgyzstan to Regulate Cryptocurrency for it be Recognized Legally
Central Bank in Kyrgyzstan has given out recommendations for regulating the crypto industry and g...
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ChatBooks notifies users of the data breach after data sold on the dark web
ChatBooks has recently disclosed the data breach following a cyber attack on its system that resu...
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AI-based voice cloning induces new scams
Vijay Balasubramaniyan, the CEO, CTO, and Co-founder of Pindrop Security, warns the world about a...
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Hong Kong Amends AML/CTF Laws to Include Crypto Exchanges
Hong Kong’s legislative council has amended its Anti Money Laundering and Countering Terrorist F...
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Chandigarh Cyber Cell Unit Arrested Criminals Involved in Overseas Money Laundering Activities
A gang of a Chinese national and 20 other people got arrested by Chandigarh Police. Investigation...
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PHL Ranking Declines in the Corruption Index, Reveals GRP
According to the Global Risk Profile (GRP), the ranking of the Philippines in the corruption inde...
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Scotland Police Give Warnings Due to the Rise in Cybercrime
Highland Police is taking a major initiative to warn the businesses of a spike in cybercrime and ...
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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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South Africa Introduces Biometric Child Registration To Stop ID Theft
The Department of Home Affairs (DHA) in South Africa recently introduced a new method of biometri...
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Massive Cyberattack on Australia Uses Cryptojacking Exploits
According to the Australian Cyber Security Centre, a group of “state actors” hacked Australian ne...
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RBI to Strengthen KYC Guidelines for the Crypto Industry
IndiaTech has suggested enhancing the KYC guidelines and obligating the cryptocurrency industry t...
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UKGC Imposes EUR 780K Fine on Buzz Bingo for AML Failure
Buzz Bingo has been fined £780,000 by the UK Gambling Commission (UKGC) for social responsibility...
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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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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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Latvia Struggles with Flow of Illicit Money Despite Regulatory Crackdown
Latvia continues to face illicit financial flow despite the regulatory crackdown that shut down t...
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Scammers and Hackers Use Cloud Mining to Launder Cryptocurrencies
According to new research, the use of cloud mining methods to conceal crypto funds has intensifie...
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WhatsApp Receives Fine Worth $267m for Breaching EU’s Data Privacy Law
Ireland’s Data Protection Commission has stated that WhatsApp failed to inform EU citizens suffic...
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New York Financial Department Releases Guidelines On Dollar-Backed Stable Coins
The New York Financial Department has released “Guidance on the Issuance of U.S. Dollar-Backed St...
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FCA Cracks Down on Various Operators Hosting Illegal Crypto Cash Machines Around Leed
The FCA (Financial Conduct Authority) suspects many sites around Leeds of hosting illegally opera...
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Egypt to Enact Updated AML Legislations and Develop Action Mechanisms to Curb Financial Crimes
Egyptian Money Laundering and Terrorist Financing Combating Unit (EMLCU) is all set to enact revi...
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‘Left in Limbo’: Cryptocurrency Exchanges React to FCA Registration Deadline
Today is the deadline for the digital currency firms to be registered with the UK’s financial reg...
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EFCC Warns Financial Crime is Thriving in Real Estate
According to the Economic and Financial Crimes Commission, EFCC, real estate companies are requir...
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US Task Force Seizes Another Superyacht in the Battle Against Russian Oligarchs’ Corruption
A new US task force has partnered with the IRS and global entities to take down Russian oligarchs...
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Centra Tech’s Operator Sentenced a Year in Prison for ICO Fraud
Robert Farkas has been arrested and charged with the lightest sentenced felony for his part in Ce...
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New Variations in Business Email Compromise Accounted for Losses of $43 Billion, Says FBI
Introduction of new variations in Business Email Compromise scams netted $43 Billion in losses ca...
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German FinTech N26 Notches $100M Amid COVID-19 Uncertainty
A funding deal for an extra $100 million has been closed by a German challenger bank N26 as it pr...
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New Zealand to Update AML/CFT Regulation from 9 July 2021
Among other changes, reporting entities have been directed to conduct customer due diligence on n...
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Nexo to Sue Bulgarian State over Money Laundering Allegations
The Bulgarian crypto lending bank, Nexo, revealed that it would file legal action against the Bul...
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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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China Extends the Regulatory Crackdown to the Fintech Giants
The financial watchdogs in China are rolling out new legislative measures to restrict the finance...
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