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SFC Imposed a HK$9 Fine on RIFA Future for KYC Failings
RIFA Limited was charged by the domestic regulatory authority of Hong Kong, the Securities and Fu...
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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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FCA Issues Report on Progress of Professional Body AML Supervision (OPBAS)
The report has highlighted key areas of improvement, including effective implementation of a risk...
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Cybercrimes in UK have ‘doubled’ in past five years
Large businesses remain most at target but SMBs have seen the steepest rise in successful cyber a...
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EBA Issues Guidance on the Roles of AML/CFT Compliance Officers
The European Banking Authority has published guidelines that state the roles of Anti-money launde...
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BNM Issues New Policy For Remote Corporate Customer Onboarding
BNM has issued a new policy document that permits MSBs to onboard customers remotely in the corpo...
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The UAE and Malta Organise a Joint Workshop to Share AML/CFT Knowledge & Experience
The UAE and Malta organised training workshops between 12-15 June to strengthen cooperation and c...
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Canada to Update AML Laws for Payments Services, FinTechs and Crowdfunding Platforms
The Canadian government’s federal budget announced that new regulations will be implemented to up...
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Nigerian Central Bank Announces Latest Guidelines to Combat Money Laundering
The Central Bank of Nigeria ordered all customers to link their Bank Verification Number (BVN) an...
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EU Regulators Say Crypto Exchange Licenses Should be Revoked for Money Laundering
EU regulators have proposed that the licenses of crypto exchanges should be revoked in case of se...
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Europol Warns Trade-Based Money Laundering Poses Substantial Threat to Financial Institutions
Financial institutions faced trade-based money laundering as a new threat since the digitalisatio...
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Singapore Scammers Launder Money Through Online Gambling
Singapore police seized US $736 million worth of cryptocurrencies and virtual assets from money l...
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Law firm Clyde & Co. fined $635K for Breaching UK Money Laundering Laws
Global law firm Clyde & Co. was fined £500,000 ($635,613) on 11 January for multiple breaches...
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8.3 million users affected in ‘Freepik data breach’
Freepik, a free photo and graphics site, has disclosed a major data breach that affected nearly 8...
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China’s Law Enforcement Authorities Issue Warning Against NFTs to Curb Financial Crimes
China’s three major banking regulators have issued a warning against non-fungible tokens (NFTs) w...
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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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E-krona – Rising Cashless Sweden Sights Virtual Currency
Less than 10% of all transactions are done with cash in Sweden, according to an analysis by its c...
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The UK’s largest mobile operator EE has announced its Digital Identity platform
EE, the UK’s largest mobile operator has announced its new Digital Identity platform to protect c...
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UK Finance Sector and Police Stopped £32m Fraud in First Half of 2021
The ‘Banking Protocol’ introduced in 2016 has now helped prevent financial fraud worth £174...
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Mega Bank Fined $10 Million in Fake Mortgage Case
Due to poor internal controls, 28 fraudulent mortgage applications went undetected.
The Financia...
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UK’s Regulatory Agencies not Coming Slow Against Money Laundering
HM Revenue & Customs carried out an extensive investigation on the UK’s real-estate agencies ...
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Nearly $30 Billion Laundered Through Canada’s Real Estate – Says TIC
A joint study by Transparency International Canada and the End Snow Washing Coalition highlighted...
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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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The Bicycle Hotel & Casino Fined $500K For Violating AML Laws
The Bicycle Hotel and Casino will be paying $500K in fine as it failed to report Currency Transac...
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Hong Kong’s SFC Plans to Regulate Digital Asset Trading Platforms
Hong Kong’s Securities and Future Commission has proposed strict rules for digital asset exchange...
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A lawsuit is filed against LifeLabs for a data breach incident
As reported earlier, the Canadian laboratory testing company, LifeLabs was hit with a cyber-attac...
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Study Reveals Alabama to be the Center for Identity Theft and Fraud
According to the latest study, Alabama has become the state with one of the highest rates of iden...
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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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13K Affected in Third-Party Data Breach at Anthem MaineHealth
A third-party service provider accessed the database of Anthem MaineHealth and obtained patients’...
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Govt assists Struggling Swiss Crypto Valley
Switzerland’s “Crypto Valley” is in talks with the federal government for fixing a 100 million Sw...
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COVID-19: Banks and mobile companies join to block texting scams
The banking and mobile phone industries are declaring advancement in the face of a rise in so-cal...
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Philippines Directs Efforts & Demonstrates Progress in Resolving AML Concerns
The Asia Pacific Group on Money Laundering (APG) has raised the Philippines’ rating from pa...
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South Korean Government to Enforce Cryptocurrency Transaction Monitoring in H1 2023
The South Korean government is looking to implement crypto oversight by tracking transactions to ...
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Hawaii introduces facial recognition for COVID-19 airport screening
Hawaii transportation authorities on Monday revealed the latest element of their attempts against...
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Austria- The Growing Hub of Cryptocurrency Approves 18 Operating License
Financial Supervisory Authority like FMA of Austria received requests from forty digital asset pr...
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Singapore Introduces Face Verification for National ID Service
Not just authentication, but facial verification is mandatory for anyone who is using the nationa...
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Homeland Security Wants Facial Recognition For All Entering or Leaving US
The federal government is considering changing airport security in a major way. Facial recognitio...
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Hong Kong Police Seizes $65 Million From Triad Controlled Money Laundering Ring
Hong Kong police detained 458 people and seized $65 million in connection with an extensive crim...
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Leading MSB Industry Associations Introduce Best Practices For Anti-Money Laundering
The introduction of the best practices for anti-money laundering by leading MSB industry associat...
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Kuwait’s Ministry of Social Affairs to Amend the Executive Law to Fight Money Laundering and Terrorism
Kuwait’s Ministry of Social Affairs is currently reviewing a proposal to amend the executive regu...
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Mass Stablecoin Adoption Could Assist Financial Crime – Says FATF
FATF suggests nations and financial service providers should identify potential risks of cryptocu...
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FirstBank of Nigeria Continues Commitment to Combating Money Laundering
Chief Executive Officer of the First Bank Group of Nigeria Limited, Dr. Adesola Adeduntan, noted ...
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Kenya Takes First Step to Regulate Virtual Asset Market
The Kenyan government is all set to take the first step to regulate a vast $20 Billion crypto mar...
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“Student” Occupation Flagged for Money Laundering in Canadian Real Estate
Son of “wanted for defrauding 60,000 investors” Chinese parents laundered millions of dollars int...
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Saudi Bank Warns Citizens Against Financial Fraud Schemes Circulating via Fake News Websites
The Saudi Ministry of Commerce is reiterating warnings about fake news websites looting people by...
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Formal Warning Issued to Westpac Over AML Failures, RBNZ Discloses
The bank underreported 8000 corporate transactions made overseas between July 2018 and February 2...
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New AML Reforms ‘Tranche 1.5’ Take Effect in Australia
In an attempt to streamline customer verification and correspondent banking, AUSTRAC has issued r...
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El Salvador Must Address Bitcoin’s Risks, Demands IMF
The IMF has urged El Salvador to address the risk associated with the adoption of bitcoin as a le...
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Australian Senate to Examine the Scope & Impact of AML/CFT on DNFBPs
The Australian Senate’s inquiry will be examining the impact of bringing DNFBPs under the AML/CFT...
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FinCEN Proposes the Designation of Eligible Customers as Exempt Person
As a part of the Paperwork Reduction Act of 1995, the Financial Crime Enforcement Network (FinCEN...
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Philippines Extends Registration Period for Amended AML Regulations
The Anti-Money Laundering Council in the Philippines has revisited the guidelines of the Anti-mon...
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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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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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Betting and Gambling Council Host AML Training for Gambling Industry
During the Gambling Anti-Money Laundering Group (GAMLG) training day on September 6th, the Bettin...
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Dutch Rabobank Under Investigation Over Suspected AML/CTF Violations
According to the Netherlands’ second largest money lender, Dutch prosecutors are investigating Ra...
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Europol & Budapest Police Arrest Criminal Group for Laundering EUR 44 Million
The Budapest Metropolitan Police along with Europol have arrested a criminal group involved in mo...
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Art Dealers Urged to Intensify Regulatory Actions Against Money Launderers
The Department of Justice is establishing new rules to combat financial crimes via the art market...
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Feds Bust Columbian Drug Cartel’s Scheme to Launder “Millions” Through US Banks
A Columbian drug cartel’s scheme was busted by the federal prosecutors who moved millions through...
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Texans to be Among the Most Affected Nations in Global Cybercrime Operation, Warns FBI
According to the Federal Bureau of Investigation (FBI), Texans are likely to be among nations tha...
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FCA Declares £147m Fine on Credit Suisse for Due Diligence Failings
Credit Suisse was fined £147,190,200 for breaching FCA’s Principle 2 and 3 for Businesses as it f...
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EBRD and Central Bank of Jordan Raise Awareness Against Financial Crime
EBRD and the Central bank of Jordan join hands in running campaigns to raise awareness for the tr...
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FATF Updates Guidance on Strengthening Beneficial Ownership Information
The Financial Action Task Force (FATF), in recommendation 24, established the first international...
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UK Cryptos Have Eight Months to Get their AML Measures In Order – FCA
UK – The Financial Conduct Authority (FCA) has pushed back the end date of crypto company’s...
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Europol Warns Trade-Based Money Laundering Poses Substantial Threat to Financial Institutions
Financial institutions faced trade-based money laundering as a new threat since the digitalisatio...
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Anti-Money Laundering Rules Hit Backpacker Bank Accounts
Working holiday visa holders have been reported to have difficulty obtaining bank accounts due to...
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FinCEN Says Russia Cannot Evade Sanctions with Crypto
Global lawmakers are taking a closer look at digital assets and how they can or cannot be used to...
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PCMLTFA Update: FINTRAC Announces Flexible Compliance Approach
On May 28, 2021, FINTRAC announced changes in Canada’s anti-money laundering regime under t...
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Oman’s CMA Initiates Efforts to Improve Anti-Money Laundering Measures
Oman’s Capital Market Authority is sharpening its focus on improving its anti-money laundering an...
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Money Laundering Becomes Another Cause of Poverty, Says UN
According to the latest UN’s report, over 10% of the world’s wealth could be hidden in overseas b...
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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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Nordic Banks Ignored Money Laundering Red Flags for Years, Leaked Audits Reveal
The Organized Crime and Corruption Reporting Project (OCCRP) has revealed in an audit that Nordic...
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Turkey’s Regulatory Authorities Oblige Rigid Crypto Licensing Measures
Turkey’s Regulatory Authorities stated they will develop rigid regulations for crypto service pla...
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