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Mirabaud Bank Fined $3M for AML Failings by Dubai Authorities
The Dubai Financial Service Authority (DFSA) levied a fine of $3M on the Middle Eastern bank, Mir...
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FSRA Imposed a Dh 1.32 Million Fine on Wise Nuqud Ltd for AML Failings
FSRA imposed a Dh 1.32 million fine on Wise Nuqud for AML failings. Wise cooperated in the invest...
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UAE Receives Observer Status at APG For Money Laundering
UAE becomes the first Arab country receive an observer status at the Asia/Pacific Group of Money ...
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Swiss Court Seeks $45m Compensation in Credit Suisse Money Laundering Case
Federal prosecutors in Switzerland are seeking compensation of $45 million in the Credit Suisse m...
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European Commission Warns of Trade Laws Violation as EU Bans Tax-Haven Crypto Firms
The European Commission has issued a new warning on breaching global trade laws as the EU bans ta...
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Guyana Completes Money Laundering and Terrorist Financing Report Afore CFATF Assessment
Guyana has completed its second money laundering and terrorist financing National Risk Assessment...
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Portuguese Banks Restrict Services for Crypto Exchanges, Citing Risky Grounds
Portuguese banks have restricted services of multiple crypto exchange firms operating in the coun...
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Norway’s DNB is Facing a Possible Fine of $45M for Poor AML Compliance
Norway’s leading bank, DNB ASA, faces the possibility of a $45 million penalty for its inadequate...
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“Steer Clear Of Online Shopping Fraud This Holiday Season”, Says Victor Fredung
Following the FTC’s statement regarding online shopping fraud, Shufti’s CEO Victo...
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U.S. Takes the Lead in Combating Illegal Financial Activities Through Updated AML Timelines
The Biden Administration released a new fact sheet highlighting the administration’s progre...
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US Senator Warns ‘a Run on Crypto’ May Need Federal Bailout
Elizabeth Warren, US Senator and a longtime bitcoin skeptic has shared her views about the upside...
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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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Jamaica Plans Digital Marketplace to Trigger CBDC Adoption
Jamaica Observer reported that the CBDC project would improve performance metrics related to JAM-...
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Six Men Arrested in Hong Kong for US$22.4 Million in Fraud
Hong Kong police crackdown on a crime syndicate and arrest six people involved in money launderin...
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SkyCity Adelaide Casino Investigation on hold Amid Money Laundering Court Action
The investigation of SkyCity Adelaide’s capacity to hold a casino licence has been “put on hold”....
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Star Casino’s Share Tumbles 21% Following Money Laundering Allegations
Individuals banned from gambling at the Star casino in Sydney had been permitted to gamble at Sta...
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Tech Giant Olympus Hit by Ransomware Attack from ‘BlackMatter’, Successor of DarkSide
More than 40 ransomware attacks have been attributed to BlackMatter, a ransomware-as-a-service gr...
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Singapore and Europe Enhance AML Framework to Fight Financial Crimes Effectively
Singapore and Europe have emerged with enhanced AML requirements for corporate services businesse...
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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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BitMEX Founders Admit Violating Anti-Money Laundering Regulations
Two of the co-founders of crypto exchange BitMEX Arthur Hayes and Benjamin Delo have pleaded guil...
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South Africa Gets the Green Signal for New AML/CTF Laws
South Africa has finally gotten a green signal for new finance laws to address shortcomings ident...
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France to Consider Amendment Obliging Crypto Firms to Obtain Licenses
In January 2023, the French Parliament will consider the amendment to cancel the favorable treatm...
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JFSC Penalizes Jersey Firms £700,000 for Violating AML Regulation
Three jersey based firms have been forced to pay a fine of more than £700,000 for breaching anti-...
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US Cybersecurity Head Fired by Trump for Discrediting the Voter Fraud.
Trump has fired the head of cybersecurity, Christopher Kerbs, for beinhg unloyal to the claims of...
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Australian Law Council Reports Reveals Risks in Legal Attorney’s AML Measures
The Australian Law Council revealed a report that shows loopholes in attorneys’ compliance ...
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Deutsche Bank Subordinate DWS Fined $25 Million for AML Violations
In the latest enforcement action, the Security Exchange Commission (SEC) has fined $25 million to...
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RSA Revamps Digital Payments with Industry-centric Regulations
The federal bank in South Africa re-regulated guidelines for performing card transactions between...
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Cryptocurrency criminals are lurking on Youtube
Cryptocurrency criminals are lurking on YouTube, a recent lawsuit filed by Apple co-founder Steve...
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EU Sets a New Limit on Cash Transactions to Curb Financial Crimes
The EU countries have signed an agreement according to which the crypto-service providers must co...
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Australian Government to Extend AML and CTF Regime
The Australian Government has initiated a consultation on revising the Anti-Money Laundering (AML...
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Joint US-Spanish Operation Broke a Multi-Million Euro Credit Card Scam
The US Secret Service and Spanish police were working together on an operation when they shut dow...
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FATF to Reassess Morocco’s AML Measures for Possible Removal from Gray List
The Financial Action Task Force (FATF) is all ready to reevaluate Morocco’s Anti Money Laundering...
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FCA Unveils Three-Year Anti-Money Laundering Strategy to Curb Financial Crime
The FCA unveiled in its new report a three-year anti-money laundering strategy which includes a n...
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National Treasury of Kenya Urges Companies to Hire Anti-Money Laundering Officers
Kenya’s National Treasury Department forced financial and specified non-financial institutes to o...
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A Three-fold Rise in AML Penalties in China in 2020
China’s banks and financial institutions have faced an increase in penalties in the year 2020 due...
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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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EU Watchdog Takes Deep Dive Into Banks’ Use of Technology
EU’s banking watchdog has recognized the need for RegTech solutions and proper regulatory standar...
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Money Laundering in Ireland Skyrockets as Criminals Move Online
The cases of money laundering in Ireland has more than doubled last year and now it has spiked si...
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One Million Student Records Compromised by E-Learning Sites
About one million online student records that contain personal information of students have been ...
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Australia Risks Damage To Economy Unless Money Laundering Laws are Improved
A Senate committee says that Australia is at risk of damaging its economy if money laundering law...
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South Africa Earmarked R265 Million to Get Off FATF’s Greylist
Finance Minister Enoch Godongwana announced on Tuesday that allocating R265 Million is one of sev...
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Online Gaming Used by Criminals to Groom Minors into Drug Mules
Criminal networks are now applying the use of online video game, Fortnite, to groom minors around...
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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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EGBA Introduces New Guidelines to Prevent Money Laundering in Gaming Industry
EGBA (European Gaming and Betting Association) has announced new guidelines to improve the anti-m...
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Russian Central Bank Still Saying “No to Use of Crypto in Settlements”
Russia’s Central Bank has put another wrench in the pro-business Ministry of Finance’...
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US Justice Department Helps Brazilian Government to Seize $24 Million in Crypto Fraud
An official request from the Brazilian government was made to the US government for helping to se...
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Compliance Institute of Nigeria (CIN) to Up its Game in Addressing AML/CTF Gaps
With threats of financial fraud emerging across the globe, the Compliance Institute of Nigeria (C...
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Amendments in UK Supervision Laws Enhance Risk of Money Laundering
Accounting bodies have warned that changes in the UK supervision of AML compliance regulations wi...
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FCA Probe into Barclays for Anti-Money Laundering Failings
The Financial Conduct Authority opened a probe into Barclays for suspected failings in compliance...
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FinCEN and FDIC to Test the Effectiveness of Digital ID Verification Tools
Two federal regulators – the FinCEN and FDIC have called for a ‘tech sprint’ to assess the ...
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Are Educational Institutes Becoming the Next Target for Money Laundering?
According to an investigation by The Times, higher-educational institutes have been unintentional...
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South Kesteven Council Strengthens AML Controls for Right to Buy Scheme
South Kesteven council tightened the anti-money laundering controls over questions raised by buye...
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People’s Bank of China to Monitor Metaverse and NFTs
The Chinese financial watchdogs are all set to expand cryptocurrency crackdown as Gou Wenjun sugg...
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Economic uncertainty ‘a breeding ground for fraud and financial crime
The FATF has warned that the Coronavirus outbreak has caused unparalleled challenges in the econo...
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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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Capital One Penalized $390M for ‘Willful’ Violation of the Bank Secrecy Act
Financial Crimes Enforcement Network (FinCEN) has imposed $390 million as penalty on Capital One ...
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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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China’s Central Bank Fines Zhongtian Securities $216k for AML Breaches
China’s Central bank has fined Zhongtian Securities Co. Ltd. 1.37 million yuan ($216,000) for AML...
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Singaporean Banks Enhance Security to Combat Financial Crime
The Monetary Authority of Singapore (MAS) stated that the country’s banks are enhancing security ...
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UAE Establishes New Federal Authority for “Commercial Gaming” to Control Casino Giants
The UAE government is ready to launch a new federal authority to regulate online lottery business...
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EU Limits Use of Cash and Cryptocurrency to Curb Financial Fraud
The European Union (EU) has issued new measures to limit use of cash and cryptocurrencies to tack...
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RSA Revamps Digital Payments with Industry-centric Regulations
The federal bank in South Africa re-regulated guidelines for performing card transactions between...
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US Officials allege student defrauded Apple as part of SIM swap attack
Richard Yuan Li, a student at the University of California-San Diego, is charged with plotting to...
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Philippine Plans to Introduce New Regulations on Beneficial Ownership
The Securities and Exchange Commission in Philippine has laid out new regulations that require tr...
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$196M Lost in BitMart Hack, Crypto Analysts Warn More Will Come
BitMart, one of the world’s largest cryptocurrency exchanges, lost $196 million in a recent...
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EU Lawmakers to Decide Ban on Large Crypto Transfers from Self-Hosted Wallets
European Union lawmakers will vote on limiting crypto transfers from self-hosted wallets on March...
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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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FCA Fines Ghana International Bank Over £5 million for Money Laundering Failings
The Financial Conduct Authority (FCA) has imposed a £5,829,900 financial penalty on Ghana Interna...
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Singapore to Strengthen Security Measures Against Phishing Scams
Singapore is taking steps to introduce additional security measures to detect suspicious transact...
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Dubai Court Sentences Gang of 18 for Charges of Money Laundering
The Dubai Criminal Court has convicted a gang of 18 individuals belonging to different countries ...
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FATF Withdraws Switzerland From AML Enhanced Measures List
The Financial Action Task Force (FATF) removed Switzerland from the enhanced money-laundering com...
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Italian banking association ready to accept digital euro
The Italian Banking Association (ABI) has disclosed that it is willing to support the introductio...
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