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China Enhances AML Obligations to Combat Money Laundering
Chinese authorities have released the latest guidelines to enhance security in the financial sect...
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FATF to Blacklist Myanmar Over Money Laundering Concerns
Myanmar faces a blacklisting threat by a FATF because of AML compliance failure and weak regulati...
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Indonesia to Pass Regulations to Control Money Laundering
Indonesia is looking to develop a strong regulatory framework to curb money laundering and terror...
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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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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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The State Bank of Vietnam Demands More Freedom and Power to be Granted to the Anti-Money Laundering Bureau
The State Bank of Vietnam (SBV) requested the government to enhance security by providing more fr...
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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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Owner of RGCoins Rosen Iossifov Guilty of Crypto Money Laundering
Iossifov was accused of two conspiracy counts; racketeering and money laundering. After a two-wee...
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Half of Anti-malware Products fail to Recognize Notable Threats
According to a new report by SE labs, Most popular, well-established cybersecurity solutions do n...
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European Banking Authority Publishes Final Guidelines on Remote Customer Onboarding
The European Banking Authority (EBA) has issued its final policies on remote customer onboarding ...
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UAE to Issue Federal Licenses to VASPs in Efforts to Embrace Crypto
The UAE is gearing up to issue federal licenses to virtual asset providers (VASPs) within a matte...
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$8.6bn Lost to Cryptocurrency-based Money Laundering in 2021
‘The 2022 Crypto Crime Report’ by Chainalysis has revealed that a total of $8.6 billion was lost ...
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Indian Brokers Under Investigation for Alleged Money Laundering and Identity Theft
Three of the most prominent brokers in the country have come under scrutiny from numerous regulat...
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Zoom improves user security by incorporating 2FA for all users
Zoom confirmed adding 2-factor authentication (2FA) for all the users of the platform. This marks...
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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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Coronavirus outbreak exploited by internet scammers
Americans are advised to stay watchful of cybercriminals’ attempts to misuse the life-threatening...
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More than HK$8 Billion has been Laundered through Hong Kong Banks in 2020
Victims of online, phone and investment scams have been conned out of more than HK$8 billion (1.0...
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New Variations in Business Email Compromise Accounted for Losses of $43 Billion, Says FBI
Introduction of new variations in Business Email Compromise scams netted $43 Billion in losses ca...
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The Anti-Money Laundering Solution Market is Expected to Double by 2025
According to the latest AML solution market report 2020-2026, the post coronavirus pandemic had a...
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US Authorities Accuse Russian Oligarch of Money Laundering and Bank Fraud
US authorities have accused Russian oligarch Viktor Vekselberg of conspiring to launder money and...
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FCA Emphasises on Companies to Invest in Compliance Program
The U.K’s financial crime investigation agency is now taking steps that will involve the companie...
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Online Gambling Operator Penalized Over Failure to Meet Anti-Money Laundering Regulations
Boylesports, an online gambling operation is facing £ 2.8 million in fines for violating the regu...
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The US Securities and Exchange Commission Identifies AML Failures of US Brokerage Firms
The Securities and Exchange Commission (SEC) has reported that compliance reviews of US brokerage...
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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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Isle of Man Urged to Take Further Steps to Counter Money Laundering
The Council of Europe’s anti-money laundering committee has again called for an extension in the ...
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Manchester Police Retrieves & Returns $23 Million Stolen Crypto Assets to Scam Victims
Manchester police have confiscated over $25 million worth of crypto that were stolen globally in ...
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ACCC Calls for Heavy Penalties to Make Tech Giants Scam-free
The Australian Competition and Consumer Commission (ACCC) has demanded severe penalties linked to...
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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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Latvia’s Bank Rietumu Fined EUR 5.85M Over Money Laundering Failures
The Financial and Capital Market Commission has fined Bank Rietumu EUR 5.85 million over failures...
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Global Drug, Money Laundering Hub Busted in Las Vegas
Federal law enforcement officials in Las Vegas have dismantled an international money laundering ...
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Saskatchewan Government Invests $1.66m to Support Fight Against Money Laundering
The Government of Saskatchewan is spending $1.66 million on the Civil Forfeiture Program to back ...
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Russian police arrest former post office chief for mining crypto
A former Russian regional post office chief was involved in mining cryptocurrencies via the offic...
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$2 Trillion Moved and Now Banks Resist Money Laundering Orders
According to the ICIJ journalist, BuzzFeed shared some documents disclosing the attitude of finan...
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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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Danske Bank Fined €1.82m Over AML and CTF Breaches
Danske Bank was accused of AML compliance failings and fined €1.82m by the Central Bank, revealin...
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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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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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Lloyds Banking Group Initiates “Pilot Scheme” to Combat Frauds
Lloyds bank initiates a “pilot scheme” with the London police to counter criminal act...
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The UAE Has Taken ‘Significant Steps’ in Fighting Financial Crime
UAE authorities have taken “significant steps” to prevent money laundering and other financial cr...
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Namibia Launches Cyber Security Council to Curb e-Fraud
Namibia has established a cyber security council that would act as a useful forum for discussions...
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Despite the Concerns, Arizona Bans Vaccine Passports for Government
Governor of Arizona, Doug Ducey has restricted the local and state government agencies from askin...
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“Pension Fraud Hits £1.8 Million so far in 2021”, National Reporting Centre
National Reporting Centre for fraud and cybercrime has reported £1.8 million has already been los...
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Scammers Stealing Kids’ Identities By Offering ‘Free Child Safety Kids”
The Better Business Bureau (BBB) is warning parents to be aware of ‘free child safety kits’ as sc...
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FCA Imposed a $1.05M fine on Barclays Bank for “Oversight Failings”
The U.K. Financial Conduct Authority (FCA) on Monday revealed that it imposed a fine of 783,800 p...
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After China, Japanese Officials Considering to Introduce Digital Currency too
China has begun trials for its digital assets and issued 10 million yuan last week. The efforts o...
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Ukraine Issues 14 Million Biometric Passports
According to Ukrinform, more than 14 million biometric passports have been issued in Ukraine so f...
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California university pays a million-dollar crypto ransom
As per reports, the University of California reportedly paid a huge ransom of $1.14 million in cr...
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FBI Warns of Tech Support Scammers Compromising Financial Accounts
The Boston Division of the Federal Bureau of Investigation (FBI) has warned of an increase in num...
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Hong Kong Crypto Exchange Platform JPEX Involved in a $178M Fraud
Hong Kong Authorities claimed they received over 23,000 complaints against the Dubai-registered c...
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European Union to Propose Amendments in AML Package for Corporate Transparency
The European Parliament has proposed a series of amendments to the Anti Money Laundering (AML) pa...
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Japan’s Airports Run Face Verification Trials for Passenger Onboarding
Tokyo’s Narita airport is running trials for a face recognition system for international travelle...
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BC Money Laundering Inquiry Report Calls for New Law Enforcement Unit
BC has released a money laundering report that carries multiple recommendations and includes the ...
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UAE Court Convicted 13 Indian Nationals and 7 Companies for Money Laundering Offenses
Thirteen Indian nationals and seven companies were charged with money laundering by the Abu Dhabi...
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Amazon Sued Over Illegal Storage of Employee Biometric Data
Lawyers from the firm of McGuire Law P.C. of Chicago filed a class action complaint on November 1...
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“Crypto Should Be Regulated, Not Prohibited”, Says ECB Vice President
After his statement in May that declared cryptocurrencies as a risky investment, the Vice Preside...
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China Announces Anti-foreign Sanctions Law
Under the new law, China has introduced countermeasures against senior managers and actual contro...
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National Assembly Passes Revised AML Law and Thrift Practice Resolution
The National Assembly (NA) has passed the revised law on Money Laundering Prevention and Control ...
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Swiss Regulator FINMA Issues DLT Act for Digital Securities Market
The Financial Market Supervisory Authority (FINMA) introduced regulatory amendments for digital s...
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Google to Improve its Compliance Program After BTC-e Data Loss
Google has committed to strengthening its legal compliance program after losing data linked with ...
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Panama & the Cayman Islands’ AML Efforts May Lead to Removal From FATF Gray List
According to the Paris-based watchdog, Financial Action Task Force (FATF), Panama and the Cayman ...
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UAE Adopts Facial Recognition for ID Verification Instead of Emirates ID Card Readers
Facial recognition instead of Emirates ID card readers will now verify identity.
The Federal Auth...
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FBI Springfield Warns of Growing Fraud Targetting the Elderly
The FBI has warned people of growing elderly fraud. As per the Internet Crime Complaint Center...
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EU Fines Hungary for Declining to Lift Restrictions on Foreign Funded NGOs
European Union, in Brussels, took an important step to penalize Hungary for not lifting restricti...
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U.S Congress Suspects the Use of Bitcoin to Fund Domestic Terrorism
U.S Congress subcommittee worries that Bitcoin might have been used in funding the Capitol revolt...
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AML Council to Impose Sanctions on Property Dealers for Non-compliance
The Philippines’s Anti-Money Laundering Council (AMLC) is all set to impose sanctions and fines o...
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British Columbia Makes Regulatory Change to Combat Money Laundering
The British Columbia government is providing the gambling regulator of the province more independ...
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UK watchdogs launch ad-scam alert system to control online fraud
The United Kingdom Advertising Standards Authority (ASA) and the Internet Advertising Office (IAB...
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Bill to Combat Money Laundering Makes Its Way Through The Senate
The US House of Representatives passed the Corporate Transparency Act of 2019 (HR 2513) on Octobe...
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Australian Banks Ban High-Risk Digital Currency Transactions
Australian banks, Bendigo and Adelaide, have banned high-risk digital transactions to protect the...
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FCA Says Bankman-Fried FTX Cryptocurrency Exchange Not Regulated in the UK
FCA warned crypto exchange FTX due to their unauthorized operations. The financial regulator clea...
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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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Fraudulent crypto exchange shut down by UK High Court
The UK High Court has designated the Official Receiver as liquidator of GPay Ltd, the cryptocurre...
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