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South Korea Extends AML Compliance Deadline for Crypto Sector
The deadline has been extended to ensure regulators are able to process all the applications subm...
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Canada Financial Crimes Agency Questioned on Effectiveness of Anti-Fraud Measures
Anti-fraud experts are reporting concerns regarding the Liberals’ newly announced Canada Financia...
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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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US Officials Visit Iraq to Lessen Currency Crisis, Says Central Bank Governor
Iraq’s currency may get uplifted after the meeting between the US top treasury officer and the he...
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EU Warns About the Impact of COVID-19 on Non-Regulated Crypto Investments
European Union’s financial regulatory agency, the European Securities and Markets Authority (ESMA...
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British Columbia Makes Regulatory Change to Combat Money Laundering
The British Columbia government is providing the gambling regulator of the province more independ...
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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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Money Laundering Scheme by Crime Gangs Focuses on Ireland
International criminal organisations are using millions of euros in legitimate products to mask s...
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Dutch Central Bank Strikes Coinbase with €3.3 Million Fine over Anti-Money Laundering Failings
The Dutch Central Bank (DeNederlandscheBank) has charged Coinbase for having ineffective anti-mon...
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Money Laundering Concerns Prompt Hong Kong Banks to Reject Crypto Transactions
Despite the Hong Kong government’s encouragement, two banks have rejected crypto activities...
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Crypto Adoption on the Rise, PayPal will Offer Crypto Payments in 2021
In the digital era, companies are shifting toward digital means of communication. Banks have plan...
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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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Global regulators propose stricter scrutiny of derivatives clearers amidst deadlock with banks
LONDON – Global regulators have suggested greater scrutiny of clearinghouses managing trill...
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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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Digital Currency ‘Sand Dollar’ Launched by the Bahamas
The Central Bank of the Bahamas (CBOB) has introduced a digital version of the Bahamian dollar, s...
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CAMLMAC and UAE Financial Intelligence Unit Join Hands to Fight FinCrime
UAE and China have signed an MoU on August 03, 2021 to combat money laundering and terror financi...
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The market for Digital Identity Solutions expected to double by 2024
The market for Digital Identity Solutions is predicted to double between 2019 and 2024, as report...
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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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11 Jailed in Saudi Arabia for Laundering $2.7 Billion
Saudi Arabia has jailed and fined 11 individuals SR62.5 million for money laundering. The group l...
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American Law Firms Building Class Suits against HSBC and Standard Chartered for Money Laundering
Labaton Sucharow and Schall Law have a record of pursuing legal claims against listed organizatio...
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Estonia’s New AML/CFT Regulatory Regime Sparks 80% Downfall in Licensed Crypto Firms
Since May 2023, Estonia’s updated crypto AML/CFT regulations have resulted in an 80% reduction in...
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FATF Urges Qatar to Increase its Efforts Against Money Laundering
A recent FATF evaluation of Qatar’s anti-money laundering procedures says local regulators must w...
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Zipmex Crypto Trading Platform Suspends All Activities in Thailand
Zipmex cryptocurrency exchange firm withdrew all activities in Thailand until 31st January 2024 t...
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CBN Fines GTBank N128M for Failing to Meet AML and CTF Requirements
The Central Bank of Nigeria (CBN) has charged Guaranty Trust Bank (GTBank) with N128 million for ...
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AAT Warns UK Businesses are Vulnerable to Money Laundering Threat After Reforming AML Regulations
The Association of Accounting Technicians (AAT) warned the UK government that reforming Anti-Mone...
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Swedish Bank SEB Accused of Money Laundering
Investigations done by the news agency TT and broadcaster SVT revealed that 25 SEB clients record...
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Bitcoin ATMs face stricter regulations over money laundering
According to experts, Bitcoin ATMs (BATMs) will face stern regulations globally, with countries s...
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UAE Delegation to Visit the US to Discuss AML Initiatives
The UAE and the US put forward their efforts to minimize the risks associated with virtual assets...
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Paramount and Forever 21 Data Breach Exposes Thousands of Customer’s Personal Details
The significant media house Paramount Global and the renowned fashion supplier, Forever 21, have ...
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US Treasury Department Issues AML Study for the Art Market
The US Treasury Department Issues anti-money laundering (AML) study for the art market, aiming to...
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Malta Faces 200% Spike in Money Laundering Cases
Financial Intelligence Analysis Unit (FIAU), Malta’s financial regulator, received a 200% increas...
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South Africa Must Fix Holes in Money Laundering Regulation by 2025, Warns FATF
South Africa needs to improve its Anti-Money Laundering and Counter-Terrorist Financing regulatio...
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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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The Next Big Step- Blockchain-Based E-voting
A Japanese firm, Layer X labs, has decided to work on the development of voting electronically by...
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President Biden Takes the Reins with Halting Digital Assets’ Rule Making
Regulatory proposal regarding digital assets has been frozen by President Joe Biden. Biden took h...
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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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Court Convicts Defendant of Defalcation of Public Funds in Abu Dhabi
A defendant was convicted of money laundering and tax evasion by Abu Dhabi Criminal Court and sen...
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Rules for AMLC Inquiry for Bank Accounts Released by the Court of Appeals (CA)
On Sunday, the Court of Appeals (CA) issued its rule of process for assessing the deposit or inve...
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Shufti Nominated for Yalla Fintech 2020 Award
Shufti, an identity verification service provider offering KYC verification and AML screening...
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Gaming & Investment Firms in Malta Penalised with €4.6M for AML Failures
The financial intelligence Analysis Unit has issued an annual report that shows that the total fi...
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Delta county bank president guilty of bank fraud
SHERMAN Texas – According to U.S. Attorney Stephen J. Cox, A 57-year-old former bank presid...
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Bank of Queensland Commits to Anti Money Laundering Laws and Risk Management
Bank of Queensland Ltd (BOQ.AX) disclosed that separate agreements had been reached with the coun...
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FATF to Conduct Checks & ‘Gray List’ Countries to Enforce Crypto AML Regulations
Global financial watchdog FATF has planned to perform checks and ‘grey list’ countries to ensure ...
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ECB Releases Paper Revealing Financial Crime Risks in Cross-border Payments
ECB has released a paper that reveals the financial risks associated with cross-border payments, ...
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Thai Police Bust $27M Crypto Scam and Seize Multiple Luxury Properties
In a recent operation, Thai authorities uncovered a $27m crypto scam targeting local investors an...
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ACRA Cancels Registration of Company for AML/CFT Failures
The Accounting and Corporate Regulatory Authority (ACRA) has revoked the registration of a compan...
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China’s cyberspace regulators approve 224 blockchain ventures
China’s Office of the Central Cyberspace Affairs Commission (OCCAC) has recently announced a new ...
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United States Senate, UAE Government, and Spain Make Significant Efforts to Curb Money Laundering and Terrorist Financing Activities
United States Senate, UAE Government, and Spain Take effective measures to amend current Anti-Mon...
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Bermuda Monetary Authority Tightens AML Control as Threat of Money Laundering Increases
Bermuda Island was rated high in the 2020 Money Laundering and Terrorist Financing Risk Assessmen...
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Hackers Steal $625 Million from Ronin Network in Largest-Ever Crypto Theft
Hackers stole approximately $625 million in crypto from the Ronin blockchain and the video game n...
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Indiana Witnesses a Spike in Identity Theft and Data Breaches
Covid19’s outburst has resulted in exponential growth in online banking, purchasing, and eC...
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Financial gain surpasses espionage as a top motivator in cyber attacks
NEW YORK – According to Verizon’s annual report on cybercrimes, money surpassed spying as t...
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Central Bank of Nigeria Speaks About the Terrorism Fuelled by Cryptocurrency
The Central Bank of Nigeria, comments on why it does not favour the means of digital currency and...
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Increasing Use of Cryptocurrency for Money Laundering Causes Concern in the Philippines
The use of cryptocurrency in money laundering is raising alarm for the Philippine Central Cank. T...
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Dutch Money Mule Caught Involved in $3.5M of Money Laundering in Australia
A 22-year old Dutch national has been arrested by Australian Police for being a money mule in a m...
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6 members charged with Fraud in China for involvement in Multi-billion Dollar Plustoken Scam
Six alleged members of Plustokem scam were prosecuted according to the court filing submitted on ...
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Sri Lanka removed from the high-risk money-laundering list
COLOMBO – Sri Lanka was recently removed from the list of high-risk countries for money lau...
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The US and UK Strengthen Ties Regarding Crypto Regulations, Says British Regulator
The Top British regulator FCA reported that the US and UK are strengthening ties on crypto regula...
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European Parliament Members Adopt New Recommendations to fight Tax Fraud and Money Laundering
The parliament members adopted a comprehensive set of regulations stemming from the previous reco...
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NFT Market Skyrockets to $44 Billion as Money Laundering Increases
The non-fungible token (NFT) market value has increased from $106 million in 2020 to $44 billion ...
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Ireland embraces the EU’s Anti-Money Laundering (AML) directive
EU’s anti-money laundering directive has been actively embraced by countries all across the globe...
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NGOs Advised on Due Diligence to Tackle Terrorism Financing
The Financial Crimes Commission’s SCUML has advised Non-Governmental Organizations (NGOs) to cond...
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Coincheck customers fall victim to a data breach
In 2018, Coincheck, the Japanese firm, fell victim to probably the largest cryptocurrency hack in...
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Two foreign nationals charged with Cryptocurrency laundering
The United States Department of Justice has charged two Chinese nationals with laundering $100 mi...
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Bulgarian Prosecutors Investigate Crypto Lender Nexo for Alleged Illegal Activities
Bulgarian officers have launched an investigation against Nexo as the crypto Lender was involved ...
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UKGC Revoked IMME’s Licence for AML Non-compliance
Licence of IMME was revoked by the UK Gambling Commission for not complying with the Anti-Money L...
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Australian Defense Department Hit by Ransomware Attack
Australian Defence Department has been hit by a ransomware attack. No information about former or...
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Coronavirus: UK economy recovering gradually, says Bank of England
Bank of England (BOE) governor, Andrew Bailey, stated that there are signs of the UK economy grad...
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Singapore, Cyprus, and the US Expedite Efforts to Combat Financial Crimes Effectively
Singapore, Cyprus, and the US are stepping up their efforts to curb financial crimes while aiming...
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US Authorities Seize Bahamas Bank for Laundering $58 Million
It’s rumoured that Deltec, a Bahamas-based bank popular with crypto clients, is linked to a...
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UK Regulatory Authorities Warns Crypto Firms to Comply with Latest AML Obligations
The UK regulatory department, Financial Conduct Authority (FCA), has warned cryptocurrency platfo...
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FIU to Audit Crypto Exchanges, Aiming to Reduce Money Laundering
Financial Intelligence Unit under Financial Services Commission to audit Korea’s cryptocurrency e...
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