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$140 Million Stolen as Crypto Gaming Company Gets Hit by Hackers
VulcanForge is the third cryptocurrency company to be targeted by hackers in just this month, wit...
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Vietnam’s Deputy PM Approves National Action Plan for the Prevention of Financial Crime
Vietnam’s Deputy Prime Minister Signed a National Action Plan for the control and prevention of M...
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FinCEN Warns Banks of Potential Russian Sanctions Evasion
The Financial Crimes Enforcement Network (FinCEN) has warned banks of possible suspicious practic...
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European Commission to Negotiate Scope of NFTs & Private Wallets in Crypto Regulation
Members of the EU Parliament, the European Commission, and state representatives are all set to n...
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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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Singapore Plans to Amend Laws to Arrest Money Mules Facilitating Scams
Singapore authorities have decided to amend laws for prosecuting money mules facilitating financi...
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Black Friday Shoppers Alert: Digital Scam Victims Lose an Average of £1,000 Each
Black Friday shoppers have been advised to strengthen their cybersecurity as NFIB revealed that v...
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Payment Companies Suggest Best Practices To Stay Away From Bank Shutouts
Payment companies have proposed a set of best practices to avoid bank shutouts by protecting the ...
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Coinbase Agrees to $100Million Settlement with NYDFS for AML Violations
Coinbase, The American cryptocurrency exchange platform, has agreed to pay $100 million in a sett...
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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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UK watchdog allows credit card and loan payment holidays to customers
The Financial Conduct Authority (FCA) has instructed top banks to offer three-month payment holid...
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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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Ireland Campaigns to make Dublin the EU AML Authority Headquarter
A team was established in the Department of Finance by the Irish government to campaign for Dubli...
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Department of Justice Charges Russian Oligarch with Violating US Sanctions
The Justice Department reportedly charged a Russian oligarch with violating US sanctions and reve...
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Global OCR market expected to reach $70 billion by 2030
The global OCR market is expected to grow at the CAGR of 15% from 2020 to 2030, reaching USD 70 b...
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Binance Expands Footprint in Europe as it Acquires License to Operate in Sweden
The Swedish financial supervisory authority (FSA) allowed Binance to operate in the country, whic...
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EFCC Enforces Real Estate Agents to Comply with Anti-Money Laundering (AML) Regulations
The Economic and Financial Crimes Commission (EFCC) urges real estate agents to strengthen their ...
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House Bill Passed in Philippine to Enforce AML LAW
House of Representatives has approved legal amendments to regulate the developers, metal dealers,...
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Millions of Twitter and Facebook Users May Have Had Their Accounts Compromised
Facebook and Twitter announced on Monday that the personal data of millions of users may have bee...
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HKMA Reveals Phishing Fraud Went Up by 145% in 2021
Statistics revealed by HKMA show that phishing fraud rose by 145% in the first half of 2021.
Hon...
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Biden’s Administration Announces New Timeline for AML Initiative and Beneficial Ownership Rules
FACT’s anti-money laundering efforts are updated in the Biden Administration’s Spring 2023 Regula...
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UK’s National Crime Agency Builds a Specialised Crypto Investigation Team
The United Kingdom’s National Crime Agency (NCA) is planning to establish a professional team to ...
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HKMA Issues Mandate to Encourage Innovation in AML/CFT
Hong Kong’s Monetary Authority is set to launch interactive lab sessions to experiment with innov...
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Bahrain sentences three money-laundering suspects to prison
Bahrain fined three suspects of $9 million and sentenced them to prison in the Future Bank case. ...
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‘Businesses need to brace for Iranian Cyberattacks’ – warns Homeland Security
The news of the assassination of Iranian military commander, Qaem Soleimani, is all over the medi...
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Cambodia Exits FATF Anti-Money Laundering Gray list, Philippines Remain
The global watchdog has removed Cambodia from its list of jurisdictions under increased monitorin...
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Swiss Regulator FINMA Issues DLT Act for Digital Securities Market
The Financial Market Supervisory Authority (FINMA) introduced regulatory amendments for digital s...
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Corrupt Countries Tend to Have a Higher Number of Crypto Users, Says IMF
A recent International Monetary Fund (IMF) study shows that counties that have more corruption ha...
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FCA Warns Against Unregistered Crypto ATM Use
The Financial Conduct Authority (FCA) has begun taking action against unauthorised crypto ATMs in...
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Swiss Prosecutor Identifies Trail to Credit Suisse Money Laundering Case
A Swiss Prosecutor has identified the trail leading to the Credit Suisse money laundering case wo...
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UN Warns of Money Laundering Risks Arising from Mekong Region Casinos
According to the U.N. Office on Drugs and Crime, the bond of China and Thailand with Myanmar is g...
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FinCEN Fines Puerto Rican Bank, Bancrédito, $15 Million on BSA Violation
Puerto Rican bank, Bancrédito, was fined $15 million by the Financial Crimes Enforcement Network ...
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Ransomware Attack Exposes 5.8 Million Pharmaceutical Records of PharMerica Corporation
A breach notification was filed with the Maine Attorney General’s Office for the first time, reve...
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BSP Warns Play-to-Earn Gamers about Potential Illicit Activities
Online gaming platforms should employ KYC verification processes to make payments more secure.
T...
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US Imposes Sanctions on Russian-backed Iranian Oil Smuggling & Money Laundering Network
The US has imposed sanctions on a Russian-backed oil smuggling and money laundering network for I...
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Swedbank Fined And Remains Under Investigation by US Authorities
As Danske Bank awaits judgment by US regulators for being involved in Europe’s largest-ever money...
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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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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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National Westminster Bank Pleads Guilty to AML Breaches
NatWest has stated that it violated multiple anti-money laundering regulations that required the ...
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FATF Report Highlights Weaknesses in South Africa’s AML Systems
South Africa has a solid legal framework to combat money laundering and terrorist financing but h...
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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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Nevada Takes Measures to Combat Unemployment Insurance Fraud
District of Nevada’s Office of U.S Attorney has shown concerns about the rise in unemployment ins...
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TRS Requires Trusts to Meet Anti-money Laundering and CTF Compliance.
As per the new UK government requirements, anti-money laundering and counter-terrorist financing ...
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Video KYC: The New Normal in the Insurance Industry
Since everything is moving to digital platforms, the Insurance Regulatory and Development Authori...
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Amazon patents block chain-based product authenticator
The U.S. Patent and Trademark Office approved Amazon’s three-year-old “Distributed ledger certifi...
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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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Facebook affirms Libra commitment with new job openings
According to the Irish Times. Facebook is planning to hire 50 people for its payment app Calibra ...
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Canada loses millions in online scams
According to CBC News, 6492 incidents of fraud were reported to Edmonton Police last year, result...
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AUSTRAC Sues Star Casino for Alleged Anti-Money Laundering Breaches
AUSTRAC has sued Star casino group with more civil penalties for doing business with ‘high-risk c...
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Growing List of Countries are Introducing Regulations on Crypto
Ukraine’s Parliament officially adopted the Draft Law On Virtual Assets. Prior to this, cryptocur...
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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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South Korea to Crush Crypto Ignited Illicit Activities
South Korea has announced to eliminate all cryptocurrency-related illegal activities including mo...
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UK Issues Crypto Framework for ICOs, Stablecoins, Exchanges and Regulators
The report covers crucial aspects of crypto regulation, aiming to foster growth in the sector wit...
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Hungary Becomes “Largely Compliant” with FATF Standards After Improving AML/CFT Measures
The Anti-Money Laundering Body of the Council of Europe has stated that Hungary has improved its ...
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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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German Law Firm Denies Money Laundering Allegations Against Deutsche ReGas
Hengeler Mueller, a German law firm, investigated the loopholes in the Anti-Money Laundering (AML...
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BSP Warns Banks Against Auto Loan Fraud
According to BSP, organized crime groups are using fake identities to sell vehicles under fake li...
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Cyprus to Test UBO Registration System for AML Compliance
The government of Cyprus has indicated it will test a system for registering ultimate beneficial ...
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FCA Bans Crypto-Related Investments in the UK
Financial Conduct Authority- FCA had proposed a ban on crypto-related investments in October 2020...
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Bitcoin scam exposes thousands to a data breach
Fraud websites have successfully stolen the personal records of a number of individuals from the ...
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Australia introduces new rules to tackle mobile identity theft
Acma (Australian Communications and Media Authority) has introduced a new regulation to fight ide...
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Blockchain Association States Senator Warren’s Crypto AML Bill is a Threat to the US
The Blockchain Association has raised concerns about the recently proposed Digital Asset Anti-Mon...
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AMLC Proposing Strict Monitoring Measures for FX Trading To Tackle Money Laundering
The AMLChas increased the monitoring process on FX declarations. All the inbound and outbound cha...
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$8.6 Million Worth of Syrian Sanctions Settled by a French Bank
A French bank, Union de Banques Arabes et Françaises has paid the 8.6 million USD for violating o...
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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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Chinese Banks Promise To Step Up Cryptocurrency Ban
Some of the biggest banks in China have promised to refuse help to customers that trade with Bitc...
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€18 Million of Illicit Cash Flows Undetected Across 25 EU States in Two Weeks
A major customs operation, BELENOS, by the French Customs authorities, has unveiled an illicit fl...
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US Attorney’s Office Charges New York’s Oldest Mafia Clans for Money Laundering Scheme
The US Attorney’s office has accused the two of New York’s oldest mafia clans for laundering mone...
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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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Cyber Attacks are More Frequent During the Holiday Season: CISA
The holiday season is always accompanied by deals, discounts, special offers and countless shoppi...
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Libra taps another former FinCEN official as general counsel
Robert Werner, former director of FinCEN and OFAC regulatory authorities, has recently joined the...
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UAE Praises Singapore’s S$2.8b Financial Crime Bust
The director-general of UAE anti-money laundering and counter-terrorism financing commends Singap...
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