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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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AMLC Continues to Address AML Deficiencies as per FATF Guidelines
The AMLC has reported continued efforts to address the deficiencies specified by the FATF to tack...
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FATF Urges Japan to Implement Stronger AML Measures
The FATF mutual evaluation report on Japan proposes the formation of a joint-agency body to enhan...
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William Hill to Pay £19M for Social Responsibility and AML Failings
The Gambling Commission has fined William Hill Group Businesses £19 million for failing to uphold...
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Jamaica Nears Full Compliance by Meeting 37 of 40 FATF Recommendations
Jamaica now complies with 37 out of 40 FATF recommendations for better prevention of financial cr...
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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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US Shows Conflicts with China at First Financial Meeting
In a recent financial working group meeting, the US Treasury raised disagreements with China, whe...
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UK’s Financial Watchdog Goes Real-time to Catch Online Criminals
The FCA is sweeping the internet on a day-to-day basis to pull out cybercriminals, as the number ...
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IPEC to Collaborate With FIU to Improve AML Framework
IPEC to collaborate with FIU to identify terrorist financing and money laundering risks that are ...
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Gary Gensler- Former CFTC Chair to Join President-Elect Biden’s team as Financial Expert.
A crypto-savvy and a CFTC (Commodity Futures Trading Commission) chair from President Obama’s gov...
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UAE’s Economic Integration Committee Highlights Files of Mutual Investigation with FATF
In the latest Economic Integration Committee meeting, the UAE’s financial regulatory authorities ...
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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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UK and UAE Take Steps in Joint Efforts to Combat Money Laundering
In the UAE-UK Partnership to Tackle Illicit Financial Flows, the two countries are in talks about...
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Cyprus Aligns with EU Regulations by Adopting Strong AML/CFT Measures
Cyprus has established a new digital registry and requires the businesses to identify their true ...
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Surge in Identity Theft Frauds During Covid-19
According to new data from the Federal Trade Commission (FTC), identity theft has risen to the nu...
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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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Banks Introduce Confirmation of Payee to Tackle Fraud
The Confirmation of Payee (CoP) system was launched in October 2018 but implementation was delaye...
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SEC & NYDFS Oppose Binance $1 Billion Voyager Deal
The Securities and Exchange Commission and the New York Department of Financial Services have spo...
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$8M seized, Four Arrested for Money Laundering Activities Across Sydney
The Sydney law enforcement authorities seized more than $8 million in cash and arrested four crim...
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T-Mobile Suffers its Second Security Breach within Six Months
T-mobile US suffered its second data breach between late February and early March, affecting 836 ...
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EU Endorses New Crypto Tax Data Sharing Rules
Strict obligations are set to be implemented in the EU’s digital assets industry. Tax authorities...
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Hong-Kong Police Crack money-laundering Cartel of Processing HK$119 Million in 2 months
Hong Kong police have rounded up 11 men in a crackdown on a cross-border syndicate with a suspect...
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Tech Analysts Say Elgin Data Breach May Prove “Devastating” for Those Vulnerable to Identity Fraud
Technology experts raise questions about the lack of transparency of the municipality in dealing ...
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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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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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Over $1 Billion Laundered Through Australia’s Pubs and Clubs Annually
A joint report by media outlets has shown evidence of over AU$1 billion being laundered throughou...
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Largest Banking Cooperation in Columbia Busted for Violating Anti-money Laundering Regulations
Banco de Occidente, Columbia’s largest banking cooperation Grupo Aval owned by one of the richest...
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Dutch Authorities Seize $29 Million in Cryptocurrencies After Money Laundering Investigation
$29 million in crypto were seized over the last few months in money laundering investigations car...
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Europol Releases First Financial and Economic Crime Report
Europol has published its first-ever threat assessment report on financial and economic crimes, h...
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Cambodia Under FATF’s Tight Monitoring Over Weak AML Measures
Cambodia is under the tight monitoring of FATF over weak AML measures. According to Transparency ...
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Ledger Owners Scammed worth 1.1 Million XRP
Earlier this year Legsdger customers faced a leak of email and personal information. Now they are...
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AMLC Downgrades Terror Financing Risks in the Philippines From High to Medium-High
According to the anti-money laundering council, the Philippines’ terrorist and terrorism fi...
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The UK’s NCA Establishes New Unit to Clamp Down on Corrupt Elites & Money Launderers
The UK’s National Crime Agency (NCA) created a new unit with the aim to target and investigate co...
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US to Form ‘Digital Asset Working Group’ to Clarify Crypto Regulations
The U.S financial regulators are to work collectively to develop modalities for explicit crypto r...
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U.S. Treasury Identifies Emerging Money Laundering Risks and Vulnerabilities
The US Department of the Treasury recently issued its National Risk Assessment for Money Launderi...
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Irish Police warns about the latest internet fraud
The local Irish police (Gardai) is persuading people not to fall prey to the recent online bankin...
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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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AUSTRAC Initiates Probe into Sportsbet and Bet365 over Money Laundering Suspicions
AUSTRAC launches investigations into gambling firms for suspicions of failing AML/CFT compliance,...
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PHL Ranking Declines in the Corruption Index, Reveals GRP
According to the Global Risk Profile (GRP), the ranking of the Philippines in the corruption inde...
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Florida House Speaker Votes to Restrict Minors’ Access to Social Media Platforms Via Age Verification Checks
Florida House votes to mandate social media platforms to implement rigid age verification checks,...
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Money Laundering Ring Pushed $4bn through 60 HSBC Accounts within 2 Years
60 HSBC accounts were used to launder USD 4.2 billion in Hong Kong.
An investigation carried out...
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Georgia’s Voting Infrastructure Becomes the First Ransomware Target in 2020 Elections
The US voting system was under a ransomware attack earlier in October. The rumours are true and G...
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US Financial Committee to Investigate Crypto to Combat Terrorist Financing
The US House of Financial Service Committee (FSC) is set to conduct an in-depth investigation of...
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World economic forum considers using blockchain to solve supply chain crisis
The World Economic Forum (WEF) stated on Monday that blockchain and digitization can help supply ...
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AMLC Continues to Address AML Deficiencies as per FATF Guidelines
The AMLC has reported continued efforts to address the deficiencies specified by the FATF to tack...
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Adobe, Twitter and NYT Team Up Against Deepfakes
Deepfakes, whether synthetic or manipulated, are rising at an alarming rate. They can cause immen...
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Brace for Home Visits, FCA Warns Remote Traders and Bankers
UK’s Financial Conduct Authority has issued a warning for all hybrid-working financial institutio...
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Congress to Pass Urgently Needed AML & Whistleblower Protections Against Russian Oligarchs
Congress is close to passing urgently required AML and whistleblower protections targeting Russia...
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UK Fraud Agency Warns Money Launderers are Targeting Under-21s
Cifas recently reported an economic downturn allows fraudsters to target young people, under 21, ...
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Financial Regulators in China Ban Bitcoin Trading for Financial Security
China imposed a fresh ban on the cryptocurrency sector making the price of bitcoin fall below $34...
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France Ranked Among Countries with Effective Measures to Tackle Financial Fraud
The latest FATF report ranks France among countries that have effective measures in combating fin...
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Exchanges in Nigeria to Take Measures Against Crypto Scams
Nigerian cryptocurrency industry is to take strong measures to guarantee a safe trading environme...
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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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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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Another Step Taken by the EU to Harmonize AML Rules
The European Banking Authority has proposed new guidance for compliance officers. The attempt is ...
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Hong Kong Police Reveals 822 Romance Scams Occurred in 1H of 2021
The Hong Kong Police has advised the public to remain cautious when meeting people online due to ...
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ABA House of Delegates Amends the AML Model Rule to Curb Financial Crimes
The House of Delegates amended the ABA Model Rule of Professional Conduct 1.16, which covers decl...
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ICC Qatar is going to have a seminar on money laundering and terrorist financing
The International Chamber of Commerce (ICC) Qatar is conducting a compliance awareness seminar on...
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AFP to Crack Down on Italian Money Laundering Syndicates Operating in Australia
The AFP is set to crack down on Italian organised crime and money laundering syndicates flowing b...
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EU Takes First Step to Set Up Anti-Money Laundering Supervisor
The European Union should contemplate creating an independent agency to supervise anti-money laun...
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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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FATF to Blacklist Uganda Over Money Laundering
The Executive Director of the Finance Intelligence Authority, Sydney Asubo stated that the FATF h...
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Authorities Warn that the Current Crypto Landscape is Plagued with Scam
According to the Connecticut State Police, the emerging virtual cryptocurrency market is prone to...
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Shufti’s Age Verification Solution Approved by KJM
Germany’s Commission for media, Kommission für Jugendmedienschutz (KJM), has approved Shufti’...
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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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California to Legislate Stronger Children’s Online Safety Bill
Assembly Bill 2273 for children’s online safety and privacy was approved by lawmakers in Ca...
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US Accuses Crypto Firms for Serving as Money Laundering Hub
The US Treasury’s department targeted the crypto mixers to combat internationally operated financ...
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German Customs to Strengthen Fight Against Organised Crime and Money Laundering
Christian Lindner, German Finance Minister, announced at the weekly cabinet meeting held at the C...
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FCA Fines Gatehouse Bank £1.58mn for Breaching Money Laundering Regulations
The Financial Conduct Authority (FCA) has fined Gatehouse Bank £1.58 million. The regulator disco...
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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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Another Step Taken by the EU to Harmonize AML Rules
The European Banking Authority has proposed new guidance for compliance officers. The attempt is ...
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Investment Bank Fined by FCA for Failing with Due Diligence Requirements
An Investment Bank in London, Sapien Captial, has been penalised by the financial regulator, Fina...
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