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Singapore Proposes Additional AML/CFT Requirements for FIs
Monetary Authority Singapore has issued a consultation paper proposing the scope of AML/CFT to be...
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Bank of Valletta Fined EUR 2.6 Million for UBOs Reporting Failure
FIAU imposed a penalty of EUR 2.6 million on the Bank of Valletta for failing to report Beneficia...
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Singaporean Regulatory Authority Imposes $7.8M Worth of AML Non-Compliance Fines
The Monetary Authority of Singapore (MAS) has imposed $7.8m fines on financial sector businesses,...
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SFC Imposed a HK$9 Fine on RIFA Future for KYC Failings
RIFA Limited was charged by the domestic regulatory authority of Hong Kong, the Securities and Fu...
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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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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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Janet Yellen, US Treasury Secretary to be, Prioritizes AML Regulations
Janet Yellen, incoming Secretary of the US Treasury has announced that AML legislation is the mos...
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Australia sues Facebook for $525 billion
A lawsuit was filed against Facebook by Australia’s privacy regulator, blaming the social media p...
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Credit Cards are Risky for Crypto Transactions, Says Taiwan’s Financial Watchdog
Credit cards should not be used for crypto-related transactions, as stated by Taiwan’s financial ...
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DIA Warns Auckland Real Estate for Lax Money Laundering Prevention
The department of Internal Affairs has issued a formal warning to Auckland’s real estate company ...
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Anti-Money Laundering Assessment of Sri Lanka Expected Shortly by FATF
In a recent statement, President Ranil Wickremesinghe announced that Sri Lanka will begin its nex...
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Guyana Strengthens Judicial Officers Ability to Combat Financial Crime
Guyana’s government started asset recovery training for the judicial officers to boost their capa...
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FATF Claims Golden Visa Programs Raise Financial Crimes Activities
The international regulatory body, Financial Action Task Force (FATF), reported that Citizenship ...
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Turkey to Ban Cryptocurrency Payments to Avoid Financial Crime
The Central Bank of Turkey is to ban the use of cryptocurrency payments by 30th April. This initi...
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EU Court of Justice Passes Judgement Against Provision of AMLD5
EU Court of Justice has passed a judgment against the provision of the AMLD5, concluding that pub...
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EU to Disclose the Names of the Non-Compliant Banks
EBA, The European Banking Authority is setting up a database to highlight the names of banks and ...
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Lawmakers Approve Enablers Act Bill to Expand AML Reporting Requirements
A group of lawmakers have approved the revision of America’s money laundering laws after 20 years...
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Police busted a massive £215m money laundering ring in the Northern Ireland
PSNI police arrested 7 individuals following one of the biggest money-laundering investigations i...
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President of Argentina Open to CBDC Adoption but Central Bank Says No
Alberto Fernandez, President of Argentina showed openness to adoption of Bitcoin and Central Bank...
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London’s Mayor Assures of the Strong Regulations Despite Brexit
Bankers in the UK are looking towards the leniency in regulations and tax cuts due to Brexit. How...
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U.S. Schools and Colleges Witness a Rise in Data Breaches
Data breaches and cyberattacks continue to grow and now targeting the education sector. Amid the ...
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US Crypto Industry Faces Pushback on Implementation of Crypto-Friendly Legislation
The US crypto firms visited Capitol Hill to push their industry-friendly regulations however, thi...
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Joint ATO Operation Busts $137m Fraud Ring
The Australian Border Force (ABF) and the Serious Financial Crime Taskforce (SFCT) have jointly i...
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EU to Introduce Sixth ‘Anti-Money Laundering Authority’ for Crypto Oversight
The European Union is planning to introduce the sixth “Anti Money Laundering Authority” to look u...
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FinCEN Wants Banks to Submit SARs to Affiliates Under AML Act 2021
FinCEN proposed a new rule that will allow banks to share suspicious activity reports with foreig...
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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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UBS to Restrict Credit Suisse Bankers After Takeover
The bankers of Credit Suisse (CSGN.S) will be subjected to tighter regulations introduced by UBS ...
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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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Experts Warn Many Firms Will Face Challenges With Latest FCA UK Crypto Law
The UK’s Financial Conduct Authority (FCA) updated the crypto industry regulations recently, whic...
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Danske Bank Under Fire Over AML Shortcomings
The FSA has reprimanded Sweden’s Danske Bank over ‘shortcomings’ in its anti-money laundering con...
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Equifax Survey shows Britain Prefers Biometric Verification
Credit reporting agency, Equifax, reports that Brits are much more open to adopting biometric aut...
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UN Warns of Increased Money Laundering Risk from Mekong Casinos
The UN officials claimed transnational criminal gangs are exploiting Southeast Asia’s gaming and ...
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UK Watchdog Fines Al Rayan Bank 4M Pounds Over AML Control Failures
FCA, Britain’s financial watchdog, revealed on Wednesday, 11th Jan 2023 that it had imposed...
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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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China Extends the Regulatory Crackdown to the Fintech Giants
The financial watchdogs in China are rolling out new legislative measures to restrict the finance...
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CFTC Fines CHS Hedging for AML and Other Violations
The Commodity Futures Trading Commission (CFTC) has fined CHS Hedging a civil monetary penalty of...
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U.S. Schools and Colleges Witness a Rise in Data Breaches
Data breaches and cyberattacks continue to grow and now targeting the education sector. Amid the ...
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Anti-Money Laundering Initiative in Ireland Extended to Bitcoin
Cryptocurrency buyers and sellers in Ireland, under the new anti-money laundering regime, will no...
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London’s Mayor Assures of the Strong Regulations Despite Brexit
Bankers in the UK are looking towards the leniency in regulations and tax cuts due to Brexit. How...
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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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International Student Sues Commonwealth Bank for Money Laundering Scam
An Indonesian student and her family sued the Commonwealth Bank as they lost millions of dollars ...
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California to Reopen its Economy with COVID Vaccine and Testing Requirements
After more than a year of COVID-19 restrictions, the State of California to finally reopen its ec...
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South Korea’s Telecom Giant to Introduce Blockchain Wallets for Official Documents
SK Telecom, a South Korean telecom giant, has announced its first e-wallet for digitally storing ...
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Surging Cryptocurrency Scams Target Lower Mainland Seniors
CARP of South Surrey/White Rock has found that the surge in cryptocurrency scams are a threat to ...
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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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Banks Creating Regulations for the Cannabis Merchants for Better Compliance
Growing and dealing in cannabis was illegal a few years back. However, the medical benefits of ma...
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CIBC Fined C$1.3M by Canadian Anti-Money Laundering Authority
Canadian regulatory authorities imposed a $1.3m penalty on the Canadian Imperial Bank of Commerce...
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SFMS Reports Blocking Russian Crypto Exchanges
Ukraine’s financial monitoring agency has restricted access to several online crypto exchan...
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U.S States Open up to the Idea of Digital IDs in Post Pandemic World
The ID cards that were used by millions of people as proof of their identity may soon become a th...
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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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US Regulates Art Market as it is at High Risk of Money Laundering
Law enforcement agencies across the globe have turned their attention to the use of high-value ar...
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Money Laundering Watchdog Fines HSBC for AML Violations
HSBC Malta has been fined €82,000 by Financial Intelligence Analysis Unit (FIAU) for AML violatio...
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US Sanctions Russian Crypto Firm Over Ransomware Payments
Suex, a Russian crypto OTC broker, was involved in facilitating ransomware payments and has been ...
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Financial Watchdogs in South Korea Add Guidelines for Crypto Transactions
Financial Watchdogs in South Korea will now oversee the activities regarding crypto in the countr...
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2021 to Set New Record for Most Data Breaches in a Year
Studies have shown a staggering 1,291 data breaches till the end of September this year, exceedin...
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Singapore’s Regulatory Authority Fines US$1.7M to Resorts World Sentosa for Due Diligence Failure
The gambling operator, Resorts World Sentosa (RWS), was fined by Singapore’s Gambling Regulatory ...
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Sri Lanka removed from the high-risk money-laundering list
COLOMBO – Sri Lanka was recently removed from the list of high-risk countries for money lau...
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UK FCA Orders Illegal Crypto Service Providers to Shut Down ATMs
The UK’s Financial Conduct Authority has ordered crypto firms operating illegally in the country ...
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New KYC and AML Compliance May Violate Privacy Laws in South Korea
The South Korean government is considering implementing KYC and AML compliance in the region, but...
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Facebook’s Libra is a Failure in its Current Form says Swiss President
According to the Swiss President, the controversial project by Facebook has ‘failed’ in its curre...
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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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Centra Tech’s Operator Sentenced a Year in Prison for ICO Fraud
Robert Farkas has been arrested and charged with the lightest sentenced felony for his part in Ce...
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Panama’s Supreme Court to Declare Cryptocurrency Legislation
Panama’s Supreme court to decide whether to modify the “crypto bill” or approve it without amendm...
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Mexico: Federal Anti-Money Laundering Agency Freezes 1352 Accounts for Money Laundering
On Tuesday, the police and federal anti-money laundering agency said that they have frozen 1352 b...
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Shufti Bagged “Product Leader” Award with 92% Customer Satisfaction
Shufti, an AI-powered identity verification services provider has won the Product Leader 2020...
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Estonian Cryptocurrency Exchange charged for concealing hack
Crex24, an Estonian cryptocurrency exchange, is accused of hiding a hack from its customers after...
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FCA Fines £642K to Sunrise Brokers for AML Failings
FCA imposed a £642K fine on Sunrise broker for facilitating fraudster trading and having an inade...
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HM Treasury Consults UK Government on AML Supervision Reforms
HM Treasury announced that a consultation would be conducted concerning AML/CFT supervision refor...
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“Money Mule Crimes Double in Cork, Students are an Easy Target”, Says the Police
According to police investigations, the number of money mule activities in Cork city has doubled ...
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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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‘EU Has Fragmented Approach to Combat FinCrime’, Says ECA
The European Court of Auditors (ECA) has identified weaknesses in the Anti-Money Laundering polic...
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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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