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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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Facebook’s New AI Can Help You Circumvent Facial Recognition
Facial recognition technology is primarily used to detect and identify people but in a turn of ev...
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FinCEN Releases Final Rule to Implement Beneficial Ownership Reporting Requirements
US Treasury Department’s FinCEN has issued a highly anticipated final rule for the implementation...
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Hacker attempts to steal crypto via fake Google Chrome extensions
A hacker is exploiting trust in renowned brands by creating fake cryptocurrency wallet extensions...
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UAE Central Bank Issues AML/CFT Guidance For Exchange Houses
The Central Bank of UAE (CBUAE) has issued guidance for Licensed Exchange Houses (LEH), keeping F...
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NDAA Passed to Strengthen the Financial Crime Monitoring in the USA
The House of Representatives has passed the National Defense Authorization Act to strengthen the ...
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Crown Casinos Fined $450 Million for AML Failures
Casino operator Crown should pay a fine of $450 million for 546 violations of anti-money launderi...
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Money Service Businesses Tighten AML/CFT Measures Amid Challenges
Microfinance firms, remittance services, and cambios have reported success in upgrading AML/CFT m...
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Queensland Launches New Inquiry into Star Entertainment’s Money Laundering Controls
Queensland initiates a new investigation to examine the money laundering controls of the Gambling...
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CSSF Imposed a €226,000 Fine on Maitland Over AML Compliance Failure
Maitland Luxembourg SA received a penalty of €226,000 over anti-money laundering and customer due...
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United States Senate, UAE Government, and Spain Make Significant Efforts to Curb Money Laundering and Terrorist Financing Activities
United States Senate, UAE Government, and Spain Take effective measures to amend current Anti-Mon...
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AUSTRAC to Update Guidance for Threshold Transaction Reporting
AUSTRAC has made it mandatory for reporting entities to include a threshold transaction report (T...
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FATF Report Highlights Weaknesses in South Africa’s AML Systems
South Africa has a solid legal framework to combat money laundering and terrorist financing but h...
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Finance Minister Şimşek States Turkey will Devote Itself to the Prevention of Money Laundering
Deputy Treasury and Finance Minister Mehmet Şimşek stated that Türkiye would counter terrorist fi...
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UAE Central Bank Fines Firm $490,000 for Violating AML/CFT laws
The UAE’s Central Bank has charged a financial firm Dh1.8 million ($490,000) over breaching the c...
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SPP Observes Rapid Increase in Money Laundering Cases Prosecuted Nationwide
The Supreme People’s Procuratorate (SPP) has observed a rapid increase in money laundering ...
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Financial gain surpasses espionage as a top motivator in cyber attacks
NEW YORK – According to Verizon’s annual report on cybercrimes, money surpassed spying as t...
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Officials of 16 Countries Teamed Up for a Major Transnational Operation against Money Laundering
On October 15, Europol announced its successful operation against a renowned criminal group calle...
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Chandigarh Cyber Cell Unit Arrested Criminals Involved in Overseas Money Laundering Activities
A gang of a Chinese national and 20 other people got arrested by Chandigarh Police. Investigation...
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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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The Corporate Transparency Act is Set to be Implemented in January 2024 Across the Country
The Corporate Transparency Act passed in 2021 is going into enforcement in a few days and will im...
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France to Consider Amendment Obliging Crypto Firms to Obtain Licenses
In January 2023, the French Parliament will consider the amendment to cancel the favorable treatm...
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Increasing Use of Cryptocurrency for Money Laundering Causes Concern in the Philippines
The use of cryptocurrency in money laundering is raising alarm for the Philippine Central Cank. T...
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Real Estate is Becoming a Primary Target for Money Launderers in the UK
According to a government report, Luxury London homes are a new method to launder illicit funds. ...
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‘Left in Limbo’: Cryptocurrency Exchanges React to FCA Registration Deadline
Today is the deadline for the digital currency firms to be registered with the UK’s financial reg...
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Money Laundering Concerns Prompt Hong Kong Banks to Reject Crypto Transactions
Despite the Hong Kong government’s encouragement, two banks have rejected crypto activities...
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UK Fines Dixons Carphone for Massive Breach
Dixons Carphone is one of the largest electronics and phone retailers in the UK. Recently British...
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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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G-20 impels countries to adopt tough FATF Regulations on Cryptocurrencies
Bankers and finance ministers in the G-20 (Group of Twenty) are urging for greater acceptance of ...
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EU Strengthens Capacity of CSOs to Combat Money Laundering & Improve Governance
The European Union (EU) is working on boosting the capacity of more than 200 Civil Society Organi...
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Two Bank Workers Banned by Central Bank in the Philippines for Wirecard Fraud
Two bank workers, involved in issuing fake documents, have been banned by the Central Bank. The a...
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New Zealand Forces Banks To Strengthen Their Security Measures
New Zealand’s parliamentary committee has urged banks and financial institutes to bolster their s...
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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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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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Brazil to Adopt Tougher Penalties to Curb Money Laundering via Digital Currencies
The fine for digital currency money laundering in Brazil is set to be raised to two-thirds of the...
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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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The SEC Uncovers a Pyramid Scheme and Charges Multiple Individuals
The U.S. regulatory authority SEC uncovered a crypto pyramid scheme that stole approximately US$2...
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Over $700M Embezzled From Iraq’s Public Fundings – Anti Corruption Commission
The Iraq Anti-corruption commission has pointed out the illegal use of people’s funding fro...
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Regulators Seize First Republic Bank and Sell a Portion of Assets to JPMorgan
Regulators seized First Republic Bank and sold a portion of its assets to JPMorgan Chase. This is...
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Fed Board Issues Directives Restricting Member Banks Holding Crypto as Principal
The US Federal Reserve rule cemented the Central bank’s caution about crypto asset activities, pr...
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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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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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Star Casino Faces Class Action for Anti-Money Laundering Failures
The Star casino has been hit with a shareholder class action for its alleged non-compliance with ...
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Better Business Bureau of North America Warns of Increased Scams & Fraud
On April 11, Marilyn Mott, director of the Better Business Bureau’s Prescott office, addressed a ...
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China Introduces 5-Point Strategy to Enforce Crypto AML Measures
China’s newly appointed governor of the Central Bank emphasised the AML regulations to safeguard ...
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The FATF Gives The Philippines 2-3 Months to Address Remaining Deficiencies
Chuchi G. Fonacier, Deputy Governor of the BSP, said 4 of the 8 remaining Financial Action Task F...
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Revised Financial Regulations in South Korea Now Covers Crypto Investors
The financial regulators in South Korea announced that domestic crypto investors would be covered...
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Central Bank of UAE Penalized Exchange House Dhs504,000 for AML/CFT Breach
UAE’s exchange house has weak measures to fight money laundering and terrorism financing and requ...
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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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Australian Housing is the “Destination of Choice” for Money Laundering – Says Serena Lilywhite
Weak, outdated money laundering and terrorist financing laws are creating havoc in the real estat...
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New Bitcoin scam hits Canada
According to a report, a supposed Bitcoin (BTC) scam is now targeting residents of Winnipeg, Cana...
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FATF Calls for Urgent Implementation of Crypto Information Sharing Mechanisms
FATF has published a report to call on the countries to the implementation of travel rules to und...
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Russian govt introduces Fintech Sandboxes, including Blockchain
The Russian government plans on the creation of regulatory sandboxes for companies working on con...
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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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“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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Electronics Giant Samsung Confirms a Data Breach Affecting Personal Information of Customers
Samsung announced a data breach involving customers’ personal information, assuring that so...
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Dutch Rabobank Under Investigation Over Suspected AML/CTF Violations
According to the Netherlands’ second largest money lender, Dutch prosecutors are investigating Ra...
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RICS Urges Firms to Adopt ‘Extremely Careful’ Due Diligence Measures
The RICS has issued a statement for its members urging them to adopt ‘extremely careful’ measures...
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FCA Reviews UK Small Trade Finance Lenders to Ensure Compliance
FCA is reviewing UK’s small trade finance lenders to assess their due diligence, risk assessment,...
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Chinese Bank trials the test interface for PBoC’s Digital Currency
One of China’s largest state-owned banks, the Agricultural Bank of China (ABC) is testing a new i...
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FirstBank of Nigeria Continues Commitment to Combating Money Laundering
Chief Executive Officer of the First Bank Group of Nigeria Limited, Dr. Adesola Adeduntan, noted ...
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NFIU Increases Efforts to Remove Nigeria from FATF Gray List
The Nigerian Financial Intelligence Unit (NFIU) has stated that it is working towards removing th...
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Hong Kong Authorities Warn Unregistered Virtual Assets Platforms May Face Large Fines and Imprisonment
On August 7th, the Hong Kong Securities and Futures Commission (SFC) warned all platforms working...
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South Africa Earmarked R265 Million to Get Off FATF’s Greylist
Finance Minister Enoch Godongwana announced on Tuesday that allocating R265 Million is one of sev...
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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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Philippines Extends Registration Period for Amended AML Regulations
The Anti-Money Laundering Council in the Philippines has revisited the guidelines of the Anti-mon...
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“Illicit Actors are Turning to E-commerce as a Money Laundering Tool” UAE Central Bank Discloses
The United Arab Emirates central bank sees increased risks of illicit financial flows emerging fr...
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Landry’s Inc. warns customers of the potential data breach
Landry’s Inc., a parent company of more than 60 restaurant chains, installed a payment processing...
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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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New European Legislative Proposals to Transform the Digital Platforms
A new act is proposed by the European Commission to enhance digital spaces. A new set of rules ha...
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Star Entertainment Group Experiences $1.26B Loss after Money Laundering Investigation
Star Entertainment Group experienced a major loss of $1.26 billion during the first half of 2023,...
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EMLCU Reviews Egypts Efforts to Fight Financial Crime
Chairman of EMLCU (Egyptian Money Laundering and Terrorist Financing Combating Unit) Ahmed Saeed ...
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