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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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Amendments to ‘Trust Property Control Act’ May Still Require Revisions
FISA (Fiduciary Institute of Southern Africa) and other notable trust law experts have expressed ...
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FATF’s New Regulations Will Help Sanctions Find Russian Targets
The Financial Action Task Force’s drive to eliminate the anonymity of corporate beneficiaries mak...
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FMA Gives Red Signal to Pencarrow Private Equity for AML/CTF Violations
The Financial Market Authority (FMA) has issued a formal warning to Pencarrow Private Equity Mana...
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Swiss Government Gears Up to Establish a Central Registry for Beneficial Ownership
The Swiss government plans to set up a central registry for beneficial ownership, a step that ind...
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UAE to Demonstrate Effective Financial Crime Prevention to be Removed From FATF Gray List
The economic secretary of the UK recently stated (April 25th, 2023) that the United Arab Emirates...
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FinCEN Launches Regulatory Process For AML Regulation on Antiquities
The ANPRM discusses how antiquities trade can be exploited by money launderers and terrorist fina...
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Medical Testing Postpones Money Launderer’s Sentencing
The conviction of Mark Scott, a licensed advocate involved in laundering $400 million for the unp...
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FinTech and InsureTech Booms in Israel as $120M Raised for Investments
FinTLV, a fund based in Tel Aviv, has announced that it has collected $120 million worth of funds...
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11 Arrested for Illegal Offshore and Cross-Border Gambling Activities in Macau
11 people arrested along with businessman Alvin Chau in an investigation of bogus gambling scheme...
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Japan Crypto Regulator States Easing of Restrictions Must Wait
The Japanese financial regulator FSA is reluctant about easing regulatory requirements for the cr...
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Turkey Set to Toughen AML Laws on Crypto Asset Platforms
Turkey is designing new and stricter obligations to prevent crypto-asset platforms from money lau...
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Sri Lankan AMLO Fines a Bank and Two Finance Firms for Non-Compliance
Approximately two million rupees worth of fines were imposed on three financial institutions in S...
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Digital euro successfully tested at the Bank of France
On May 20, Banque de France announced that France has become the first country to successfully te...
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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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Creating UBO Registry ‘Biggest Focus’ for US Treasury’s Anti-corruption Push
As part of the US government’s AML reform plan, an ultimate beneficiary ownership register will b...
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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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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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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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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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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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Guyana plans Amending Anti-Money Laundering Legislation
The government of Guyana is looking to amend the AML/CFT legislation in the National Assembly to ...
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“The Community” Fined $120M for Multi-million Cryptocurrency Theft Scheme
A sixth member of “The Community” was sentenced to 10-month imprisonment and over $120,000 fine f...
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TSA to test self-service facial recognition technology in the pilot program
The Transportation Security Administration (TSA) is now testing self-service facial recognition t...
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UK’s National Audit Claims FCA Takes Slow Crypto Enforcement Actions
The UK’s National Audit stated that the Financial Conduct Authority (FCA) has all the rights to c...
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Chinese Police Seize $124M Money Laundering Scam in Zunyi City
The money laundering gang was able to conceal its fraudulent activities for a while by using 500 ...
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BitGo settles with US Treasury; Sanctions Violations will Cost $98,830
The U.S. Treasury has settled with BitGo over costs that it helped users in authorised divisions ...
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Dubai KYC consortium to enhance UAE bank profits
According to Moody’s Investors Service, the recently formed Know Your Customer (KYC) consortium i...
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SEC Cautions Citizens Regarding Digital Investment Scams in the Philippines
The Securities and Exchange Commission (SEC) has warned the public to pay caution while making d...
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Combating COVID-19: Dubai warns of $10 million loan scheme fraud
A recent scam has emerged in Dubai which involves a $10 million loan for young entrepreneurs and ...
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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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IRS Deploys Effective Filters to Detect and Prevent Tax Evasion
The Treasury Inspector General for Tax Administration released an interim filing season report on...
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ACRA Cancels Registration of Company for AML/CFT Failures
The Accounting and Corporate Regulatory Authority (ACRA) has revoked the registration of a compan...
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China plans on introducing digital yuan
China’s central bank has sent one of its strongest signals yet of a commitment to creating ...
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China Strides Forwards with New KYC Rules to Rein Money laundering
China is stepping up to fight its long-running battle against financial crimes such as money laun...
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FIAU Charges ECCM Bank €310,000 for Weak AML Controls
FIAU charged Silema-based ECCM Bank €310,000 over failings in money laundering controls, revealin...
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New Study by NIST Reveals Biases in Facial Recognition Technology
The National Institute of Standards and Technology (NIST) recently did a study on the effects of ...
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Iranian President Calls for National Crypto Mining Strategy
The Iranian President, Rouhani, recently informed the officials from the Central Bank of Iran (CB...
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Beware: Vaccine-phishing scams have risen by 500 percent
Vaccine-phishing scams have increased by 530 per cent, as stated by a new study by Unit 42, the P...
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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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Data Breach Exposes 515,000 IDs, More Cases of Synthetic ID Fraud to be Expected?
Hackers broke into the servers at the International Committee of the Red Cross and accessed perso...
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Newsman arrested for credit card theft
A Newport Newsman was arrested due to credit card and identity theft allegations.
The arrest was...
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7 UAE Law Firms Penalized in Anti-money Laundering Violations
Around 100,000 dirhams have been fined to 7 law firms in UAE for disregarding anti-money launderi...
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Property Brokers in New Zealand Given Official Warning over AML/CFT Compliance
An eighty-branch real estate agency in New Zealand, Property Brokers, has received their first fo...
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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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UK Government to Introduce Age Verification Laws For Adult Websites
To restrict minors’ access to adult-oriented content, the UK government is working on impos...
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SA’s Healthcare Organizations Become the Latest Prey for Cybercriminals
COVID-19 pandemic has paved the way for cybercriminals to target South Africa’s healthcare organi...
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SA Government Passes New Legislation to Avoid FATF Gray list
South African government has passed two crucial legislations to prevent potential greylisting by ...
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Giaba Trains BDC Operators for Money Laundering & Terrorist Financing
GIABA (Inter-Governmental Action Group against Money Laundering in West Africa) has started a thr...
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Insurance and Pension Sector in Zimbabwe Progressing in Anti-Money Laundering Efforts
Both sectors in Zimbabwe are prone to money laundering, and the first target of the authorities i...
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UK Gambling Commission Fines 888 with £9.4m for AML Failings
Great Britain’s Gambling Commission has issued 888 with a fine of £9.4 million over a series of s...
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Increasing Financial Crimes Call to Establish a European Center of Excellence For AML Compliance
EU financial and anti-financial crime regulations are more complicated than before and they reinf...
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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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Ransomware Targets Outdated Microsoft Excel Macros to Deploy Attacks
Microsoft Security Intelligence notified users of a type of ransomware, called Avaddon, that uses...
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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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New Zealand’s FMA Issues New ID Verification Guideline
A new explanatory note has been issued by New Zealand identifying the sources of information that...
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UK Government to Introduce Age Verification Laws For Adult Websites
To restrict minors’ access to adult-oriented content, the UK government is working on impos...
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Comparitech Report Ranks Biometric Data Use: China Tops the List
Comparitech, a pro-consumer technology website, conducted a study including 50 countries and thei...
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Sweden Points Out the Rising Cases of Money Laundering in Gaming Industry
Financial Police of Sweden has revealed a report that highlights more than 700 cases of money lau...
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FCA Puts its Foot Down Against Money laundering in Banking Sector
Financial Conduct Authority, FCA, is taking action against money laundering in the banking and fi...
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Taiwan Initiates Industry Association to Regulate Cryptocurrency Sector
Nine crypto exchange platforms formed a group to create an industry association to regulate Taiwa...
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Newsman arrested for credit card theft
A Newport Newsman was arrested due to credit card and identity theft allegations.
The arrest was...
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Effective Measures are Needed to Tackle Money Laundering and Terrorist Financing, Says EMLCU’s Head
The Union of Arab Banks arranged the three-day anti-money laundering and terrorist financing even...
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CBUAE Introduces New Program to Boost Digital Transformation in Financial Services
UAE Central Bank has introduced a program that includes a new digital currency, open finance and ...
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Failure to Join FATF Will Increase Economic Pressure
According to a top diplomat, Iran’s refusal to comply with the requirements of the Financial Acti...
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Gaming & Investment Firms in Malta Penalised with €4.6M for AML Failures
The financial intelligence Analysis Unit has issued an annual report that shows that the total fi...
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GBA to Organize Two-day Training Workshop for Addressing AML and CFT Concerns
GBA concluded a workshop on AML and terrorist financing concerns to avoid any possible threats of...
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Ransomware gang failed to deploy an attack against 30 US firms
A ransomware attack was blocked by a group by the Cybersecurity firm Symantec known for demanding...
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Crypto Mixers, Helix and Coin Ninja, Fined by FinCEN for Bank Secrecy Act Violation
Larry Dean Harmon, founder of Helix and Coin Ninja, has been fined $60 million for being involved...
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Austrian Gamblers Struggle to Recoup Money from Illegal Betting Sites
Austrian gamblers struggle to recoup money from illegal betting sites after gambling groups face ...
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Kenyan Authorities Freeze Accounts of Two Nigerian Companies for Allegedly Laundering Sh6 billion
Kenyan authorities have frozen accounts containing Sh45 million belonging to two Nigerian compani...
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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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