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UK Amends Corporate Act to Combat Economic Crimes
The UK government reformed the Economic Crime and Corporate Transparency Act to expand regulation...
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Danske Bank Facing the Long-term Cost of Money Laundering
Danske Bank is still facing the consequences of its involvement in the €200 billion worth of mone...
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Nigeria, Myanmar, and Türkiye Take Effective Steps to Meet FATF Recommendations
Myanmar, Nigeria, and Türkiye are implementing effective measures to level up anti-money launderi...
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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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Facebook Launches a New Payment System Following Libra
Facebook Pay is a new payment system launched by Facebook for all the apps under the Facebook umb...
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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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Increasing Money Laundering Fines for Banks After Lockdown
Despite the delays in enforcement activities due to lockdown, the globally issued money launderin...
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FATF encourages Digital ID during Coronavirus epidemic
The Financial Action Task Force (FAFT) is advocating the use of digital identity technology to se...
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UAE Central Bank to Take Action Against Unregistered Hawala Operators
From 2nd December 2020, the Central Bank in UAE will begin taking action against the unregistered...
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Pakistan’s State Bank unveils new AML/CFT regulations for Forex Firms
State Bank of Pakistan on Tuesday amended Anti-money laundering (AML) and Counter Financing of te...
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Binance revokes Upbit hackers’ attempt to launder stolen funds
At just after 16:00 UTC Wednesday, bot Twitter account Whale Alert notified Binance – which has e...
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Chinese Tech Groups Shaping UN Facial Recognition Standards
Leaked documents reveal that Chinese tech giants are developing the United Nations’ standards for...
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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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Australian Regulators Seeking to Implement Travel Rules for Cryptocurrency
Australia is looking at the laws that would require cryptocurrency providers to record the inform...
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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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Hong Kong Looking to Legitimize Crypto Trading for Retail Investors
The government of Hong Kong has been looking at whether to legitimize crypto trading for retail i...
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A Ponzi Scheme of $2.7 Million Unleashed
According to the U.S Department of Justice, a former attorney from Allentown was sentenced to six...
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Taiwan FSC to Ease Authentication Rules through Biometric Verification
According to new rules, banks will be using biometric authentication methods to fulfil ID authent...
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UK Announces New Legislation to Regulate Crypto Assets Industry
The UK’s government has developed its first legal framework for cryptocurrency trading and ...
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Lloyds Bank Charged with £500K Fine for Breach of Financial Regulatory Standards
Lloyds Bank corporate markets jersey received a fine of £498,000 in relation to the dealings with...
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AUSTRAC Partners With UK Counterpart to Fight Fraud
The financial intelligence agency has announced AUSTRAC has entered a new partnership with a UK c...
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India to Introduce Physical Cryptocurrency Bank Branches
India has been rapidly adopting the changes in the digital world and introducing physical banks f...
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China’s Central Bank Fines ICBC & Bank of Chongqing for AML Shortcomings
Chinese banks including industrial and commercial banks of Chongqing have been fined by regulator...
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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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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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AUSTRAC Made to Take Back Seat as Australia Defies Global AML Regulations
Australian Transaction Reports and Analysis Centre has taken Australia’s largest business to cons...
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DIA Warns Auckland Real Estate for Lax Money Laundering Prevention
The department of Internal Affairs has issued a formal warning to Auckland’s real estate company ...
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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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Binance Tightens KYC Verification to Meet Regulatory Compliance
Customers that fail to meet the new requirements will only be allowed to withdraw funds, close po...
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“We Reaffirm Our Full Support for FATF’s Efforts Against Financial Crime” – G20 Leaders
According to the Rome Declaration, G-20 leaders ensure full support to back FATF recommendations ...
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Binance Pulls Out its Rival Exchange Huobi from Money Laundering Attempt
Binance helped its rival crypto exchange, Huobi Global, recover the amount taken in a bridge expl...
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FATF Issues Guidance Paper For Incorporating Digital ID
The Financial Action Task Force (FATF) has issued a guidance paper, last week, that outlines a ri...
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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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Bank of Ghana Issues New Guidelines for AML and CTF
The Bank of Ghana (BOG) has introduced new directives on Anti Money Laundering/Combating the Fina...
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HSBC Fined £64m for “Unacceptable AML Failings”
HSBC was fined by the UK’s financial regulator for ‘deficient transaction monitoring controls’. W...
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A Treasury Unit to Enforce New Anti-Money Laundering Laws in the US
A small bureau of the U.S Treasury Department will take a lead, over the next year, in filling ou...
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US government favours a hands-off approach to AI’s regulation
The white house listed 10 principles that federal agencies should consider when drafting laws and...
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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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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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Kenya Flags Betting Jackpots as Possible Avenues for Money Laundering
Kenya has flagged the mega jackpots paid to the punters in the country as the possible avenues fo...
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FIU Highlights the Risks of Money Laundering in Estonia Due to VASPs
FIU has highlighted in its annual report the risk of money laundering and terrorist financing in ...
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US Law to Ban Shell Companies Runs into Delays
A new US law to prevent businesses from tax evasion using shell companies has been delayed at the...
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Australian Gold Company, The Perth Mint, Accepts Voluntary Undertaking to Avoid AML Fines
The Australian gold corporation, the Perth Mint, escaped penalties for inadequate compliance syst...
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NY Lawmakers Approve Legislation Against Financial Fraud
Michael Gianaris, Deputy Leader of the Senate, recently announced his legislative measures to pro...
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The US Treasury Department OFAC Enforces Whistleblower Programmes
According to the US Treasury’s Department Office of Foreign Assets Control (OFAC), companies must...
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Chinese Authorities Bust 93 for Crypto Money Laundering Worth RMB 40 Billion
Chinese Authorities in the Hunan province have busted a criminal ring of 92 individuals for alleg...
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New White House Standards Strategy May Affect Crypto Industry KYC Regulations
President Biden’s administration unveiled a national standards strategy on May 4, outlining eight...
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Taiwan FSC Fines Taishin Int’l Bank For Inadequate Internal Controls
Taishin Commercial Bank of Taiwan penalised for defrauding NT $347 million from customers and fai...
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AUSTRAC Warns Banks Against Closing Accounts of Crypto Traders
AUSTRAC shows full support for the Australian crypto industry and is issuing warnings to banks ag...
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UAE Issues Guidance to Registered Unlicensed Crypto Firms
UAE’s regulatory authorities stated all unlicensed Virtual Service Providers (VASPs) companies wi...
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UK Exposed to Significant Trade-based Money Laundering Risks Post-Brexit
Risks related to trade-based money laundering in the UK are expected in the upcoming years, accor...
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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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DOJ Arrested Three Individuals In A $722 Million Cryptocurrency Ponzi Scheme
The Department of Justice arrested three men on Tuesday, December 10, on charges of running an el...
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Seattle Airport Resists Federal Push for Facial Recognition
Facial recognition technology won’t be installed at the boarding gates of the Seattle-Tacoma Inte...
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Amazon Sued Over Illegal Storage of Employee Biometric Data
Lawyers from the firm of McGuire Law P.C. of Chicago filed a class action complaint on November 1...
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Singapore offers $70M to aid the fintech industry during COVID-19
Singapore has allocated SG$125 million ($70.89 million) to assist its financial services industry...
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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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Nepal’s Foreign Employment Sector Witnesses a Surge in Fraudulent Cases
The number of individuals seeking international employment from Nepal has increased, and so do th...
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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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Kenya Flags Betting Jackpots as Possible Avenues for Money Laundering
Kenya has flagged the mega jackpots paid to the punters in the country as the possible avenues fo...
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The US publishes a list of North Korea’s supposed Crypto crimes
The US government, on Wednesday, outlined an aggressive set of countermeasures it said could hamp...
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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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Taiwan’s Financial Authority Set to Establish Rigid Crypto Regulation
Taiwan’s Financial Supervisory Commission (FSC) has designed regulations that protect the c...
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AUSTRAC Teams Up with Pacific to Counter Money Laundering For Enhanced Regional Security
Australia’s AML Agency AUSTRAC has partnered with the Pacific Financial Intelligence Unit t...
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Leading Japanese Crypto Exchange Loses $100 Million to Hackers
Liquid Global, a leading cryptocurrency exchange in Japan was hit by a hacking attack and the exc...
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Crypto-Supporting Digital Cards to be Launched Soon in China and Korea
UnionPay, an analogue for Visa and Mastercard service providers, has partnered with Danal, a Kore...
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German Parliament Passes Anti-Money Laundering Laws
On Thursday, the German parliament passed a draft of anti-money laundering measures to make sure ...
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Namibia Launches Cyber Security Council to Curb e-Fraud
Namibia has established a cyber security council that would act as a useful forum for discussions...
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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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IRS Criminal Investigation Uncovers Approx. $10 Billion Worth of FinCrime
IRS-CI FY 2021 highlighted $2.19 billion in tax fraud, $8.18 billion in financial crimes, 1497 wa...
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WhatsApp accounts hacked to acquire bank card details
Recently a new scam has emerged in Singapore where hackers are found to take-over WhatsApp accoun...
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SEC Updates Regulatory Disclosures for Chinese Issuers Amid Crackdown
Chinese businesses, as per a ruling by the SEC, are directed to present additional disclosures re...
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