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AMLC Freezes Assets of 16 Groups Labeled as Terrorist Organizations
The Anti-Money Laundering Council in the Philippines has frozen the accounts of 16 organizations ...
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ODJFS Makes Efforts Against Fraud Schemes, Calling for Improved Safeguards
The Ohio Department of Jobs and Family Services (ODJFS) has estimated that approximately $506 mil...
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FCA Bans Crypto-Related Investments in the UK
Financial Conduct Authority- FCA had proposed a ban on crypto-related investments in October 2020...
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Mongolia Stays Committed to the Fight Against Money Laundering
Mongolia is the first Asia-Pacific and fifth global nation to implement all 40 FATF recommendatio...
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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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Danish Gaming Regulator Sanctions Unibet Over AML Violations
Spillemyndigheden, the Danish Gaming Regulatory Authority has sanctioned Unibet for failing to co...
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Increasing Incidents of Fraud Becoming a Threat to UK’s National Security: UK Finance
Automated systems prevented approximately 736 million pounds ($1 billion) from being stolen throu...
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Irish Businessmen lost More than €10 Million in Invoice Redirect Fraud
Sophisticated invoice redirect fraud in Ireland has resulted in the loss of €10 Million for busin...
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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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Ripple CEO urges US Regulators to embrace Crypto
Brad Garlinghouse, CEO Ripple has encouraged the US regulator “to step up and lean into digital c...
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UAE Establishes Anti-Money Laundering Bodies to Enhance Global Monitoring
The United Arab Emirates is enhancing its money monitoring system to combat illicit cash flows, m...
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Interpol Warns of the Rise in Romance Scams as Valentine’s Day Approaches
According to the Interpol, there is a new investment scam on the rise that is targeting the datin...
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UAE Central Bank: AML Guidelines Issued for Licensed Financial Institutes
The UAE Central Bank has issued guidance for financial institutes to fight money laundering, terr...
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Standard Chartered Is Fined $13.6 Million by India’s AML agency
Standard Chartered Bank is fined $13.6 million by India’s anti-money laundering agency for 2007 d...
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Sebi Releases New Anti-Money Laundering Guidelines
The capital markets regulatory authority, the Securities Exchange Board of India (Sebi), publishe...
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EU Legislation Bans On-cash Deals Over €10,000 Due to Money Laundering Threats
The European Union’s ban on cash payments over €10,000 for transactions such as car payments is e...
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CBN Fines GTBank N128M for Failing to Meet AML and CTF Requirements
The Central Bank of Nigeria (CBN) has charged Guaranty Trust Bank (GTBank) with N128 million for ...
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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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Philippine Senator Files an Anti-Online Gambling Bill Aiming to Curb Financial Crimes
Philippine Senator Joel Villanueva filed a bill imposing a ban on online gambling to prevent fina...
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ePayments Systems Ltd to Permanently Close its Operations Due to Insufficient AML Protocols
FCA accused ePayments Systems Ltd of AML compliance failure. The financial money institution has ...
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British Government Prepares Task Force to Halt Financial Crimes
After observing a 70% increase in push-payment fraud, the UK’s government has devised a tas...
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UAE’s AML Body Adopts Regulatory Framework for Virtual Assets
The new rule for virtual assets has been devised in accordance with the crypto travel rule issued...
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Switzerland Endorses Rigorous AML Measures
Switzerland has introduced new anti-money laundering regulations to bolster financial institutes&...
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WHO Warns about Online Job Scams during COVID-19 Pandemic
A message shared on WhatsApp and Facebook claims that the World Health Organization (WHO) is adve...
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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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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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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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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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Reserve Bank of Zimbabwe Reveals Most Banks Lose Correspondent Deals Due to AML Non-compliance
The Reserve Bank of Zimbabwe (RBZ) Deputy Governor disclosed that most banks are losing clients d...
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South Africa Enforces New Rules to Transfer Funds Abroad
The South African Revenue Service (SARS) has made regulatory changes to transfer funds overseas, ...
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US Seizes 18 Crypto ATMs Bought With Fraudulent Loans
US law enforcement has seized 18 cryptocurrency automated teller machines previously purchased vi...
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Indonesia Becomes Member of International Watchdog, FATF
The international money laundering watchdog, FATF, includes Indonesia as its member state, in a g...
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ASIC Expands its Team to Enhance Cryptocurrency Regulations
Australia’s financial regulator has enhanced the size of its crypto team. The crypto regula...
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Cybercriminals demanded $3 million ransom from Travelex
The hackers behind a cyber attack on a foreign exchange firm Travelex ordered to pay $3 million r...
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Sberbank Warns Russians; Cybercrime Cost the Nation $49bn in 2020
According to Russia’s largest state-owned bank, Sberbank, the total amount the citizens along wit...
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American Gaming Association Updates Best Practices for AML
The American Gaming Association (AGA) has released updated “Best Practices for Anti-Money Launder...
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US Set to Disclose New Real Estate Regulations to Combat Money Laundering
The US Treasury Department is ready to introduce rigid regulations to close security loopholes in...
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Danish Gaming Regulator Sanctions Unibet Over AML Violations
Spillemyndigheden, the Danish Gaming Regulatory Authority has sanctioned Unibet for failing to co...
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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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FCA Fines ADM Investors for Violating Anti-Money Laundering Regulations
The UK regulatory department Financial Conduct Authority (FCA) fined $7.9 million to the commodit...
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WHO Warns about Online Job Scams during COVID-19 Pandemic
A message shared on WhatsApp and Facebook claims that the World Health Organization (WHO) is adve...
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DC lawyers can now accept crypto for legal fees
According to a report by Bloomberg Law, cryptocurrency can now be used to pay for legal services ...
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Fraudsters exploiting Coronavirus panic have scammed £1.6 million
United Kingdom investigators have reported more than 500 COVID-19 associated scams and over 2,000...
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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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FCA Dismisses Temporary Permissions of 4 EU Firms Operating in the UK
UK’s Financial Conduct Authority (FCA) has called out EU firms operating in the UK to meet their ...
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Nigerian-Owned Tech Firm, Flutterwave, Closes 45 Bank Accounts Due to Money Laundering
A group of 2,468 Nigerian nationals accused Flutterwave Payments Technology of defrauding them of...
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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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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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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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EU Proposes New AML Agency For Addressing Money Laundering
The EU document has been proposed to introduce tough action against money laundering in the regio...
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Cambodian Minister of Justice Addresses AML Action Plan to Escape FATF’s Gray List
The Minister of Justice Koeut Rith has advised all financial institutions to continue their coope...
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Hacker Group Profited $7M in Crypto by Selling Stolen Credit Cards
A hacker group “Keeper” developed an interconnected network of over 570 eCommerce sites to steal ...
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Taiwanese Crypto Exchange Platform Under Investigation for Money Laundering
Taiwanese crypto exchange platform and a member of the Virtual Asset Service Provider (VASP), Bit...
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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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DBS Bank in Singapore Entering the Crypto Sector with Three New Offerings
Singapore’s largest commercial and retail bank, DBS, is likely to enter the cryptocurrency sector...
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Emirates Delegation of Anti-Money Laundering and Counter-Terrorism Financing Visits US
The Emirates Executive Office of Money Laundering and Counter-Terrorism Financing visited Washing...
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New York’s Attorney General Bent on Shutting Fraudulent Crypto Platform
New York’s attorney general has filed a lawsuit against a cryptocurrency platform, known as Coins...
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DHS 19.5 Million Fine Imposed on UAE Banks for AML Failings
The Central Bank has imposed Dhs 19.5 million fine on UAE’s banks for shortcomings in the AML fra...
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France to Implement Stringent Regulations on Cryptocurrency
France is planning on regulations that abolish the anonymity in cryptocurrency. Financial authori...
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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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Nepal Approves Anti-Money Laundering Bill to Comply with International Standards
Nepal endorsed an anti-money laundering bill as the initial step to combat financial crime and en...
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Cambodia and China Strengthen Ties to Combat Illegal Online Gambling and Scams
China’s Premier Li Keqiang and Cambodia’s PM Hun Sen have given a green signal to strengthen thei...
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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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With Rising Fintech Adoption, FI’s are Investing in AI for AML Compliance: Report
Reduced rates of false positives and the resulting decline in operational costs have caused an in...
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Danish Gaming Regulator to Support the Ministry of Justice’s National AML Strategy
Denmark promises to crackdown on money laundering activities across the nation with a new AML str...
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Financial Intelligence Center Says SA Car Dealers Are at High Risk of Money Laundering
The Financial Intelligence Centre (FIC) has said that SA’s motor vehicle dealers are at a high ri...
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Turkey at Risk of Becoming a Haven for Russian Sanctions
Turkey is facing rising pressure for compliance with sanctions imposed on Russia and to increase ...
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Crypto Exchange Binance Banned by UK’s Financial Watchdog
Britain’s financial regulator, the FCA (Financial Conduct Authority) has said that Binance is no ...
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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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Arizona Bank Used to Funnel 11 Million USD in a Money Laundering Scheme
According to Federal prosecutors, a money-laundering scheme has been successful in funneling $11 ...
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Britain’s FCA Fines Ghanaian Bank for Insufficient AML Regulations
The Financial Conduct Authority of the UK has imposed fines of £5.8 million on Ghana Internationa...
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The Czech Republic Government Amends Beneficial Ownership Law to Meet AML Obligations
The Czech Republic government revised Beneficial Ownership Law upon the European Commission’...
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