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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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UAE Strengthens AML Measures to Bolster Virtual Asset Framework
The UAE’s anti-money laundering and counter-terrorism financing department stated it continues bo...
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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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OCC, FDIC, & Fed Warn Banks of Significant Risks in the Crypto Industry
Three US banking regulators, the Federal Reserve (Fed), Office of the Comptroller of the Currency...
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FCA Fines Bastion Capital For Serious AML Failings
The Financial Conduct Authority (FCA) has imposed a fine on Bastion Capital London for serious AM...
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Ransomware attack targets Victoria Beckham’s personal data
Maze, the Ransomware gang strikes again. It seems that the victim this time is a US-based indepen...
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AMLC Proposing Strict Monitoring Measures for FX Trading To Tackle Money Laundering
The AMLChas increased the monitoring process on FX declarations. All the inbound and outbound cha...
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AMLC Continues to Address AML Deficiencies as per FATF Guidelines
The AMLC has reported continued efforts to address the deficiencies specified by the FATF to tack...
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EU Regulators Say Crypto Exchange Licenses Should be Revoked for Money Laundering
EU regulators have proposed that the licenses of crypto exchanges should be revoked in case of se...
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Singapore Plans to Amend Laws to Arrest Money Mules Facilitating Scams
Singapore authorities have decided to amend laws for prosecuting money mules facilitating financi...
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South Korea’s Largest Crypto Exchange Upbit Registers with KoFIU for AML
Upbit is reportedly the first South Korean crypto exchange to register the Korean Financial Intel...
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Cryptocurrency criminals are lurking on Youtube
Cryptocurrency criminals are lurking on YouTube, a recent lawsuit filed by Apple co-founder Steve...
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Brazil to Introduce Facial Recognition to Verify People Wearing Masks at Airports
Countries across the globe are taking necessary steps to introduce facial recognition at the airp...
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£23.8 Million Fined to MT Global for AML Non-Compliance
A Money Service Business (MSB) firm, MT Global, penalized by HM Revenue and Customs for breaching...
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Central Bank of Nigeria Speaks About the Terrorism Fuelled by Cryptocurrency
The Central Bank of Nigeria, comments on why it does not favour the means of digital currency and...
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Canada’s MP Introduces Private Member’s Bill to Amend Criminal Code
The members of parliament of Simcoe North, including the deputy minister of finance, have introdu...
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Hong Kong Looking to Legitimize Crypto Trading for Retail Investors
The government of Hong Kong has been looking at whether to legitimize crypto trading for retail i...
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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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EU and British Financial Watchdogs to Investigate Digital Stock Tokens
The German and British regulators are reportedly investigating the stock token trading, recently ...
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$8M seized, Four Arrested for Money Laundering Activities Across Sydney
The Sydney law enforcement authorities seized more than $8 million in cash and arrested four crim...
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Binance revokes Upbit hackers’ attempt to launder stolen funds
At just after 16:00 UTC Wednesday, bot Twitter account Whale Alert notified Binance – which has e...
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UK Publishes First National Risk Assessment of Proliferation Financing
The UK is at a high risk of proliferation financing for Korea and Iran, while UK financial instit...
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US Justice Department Helps Brazilian Government to Seize $24 Million in Crypto Fraud
An official request from the Brazilian government was made to the US government for helping to se...
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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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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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A Ponzi Scheme of $2.7 Million Unleashed
According to the U.S Department of Justice, a former attorney from Allentown was sentenced to six...
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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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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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Man arrested for money laundering offenses related to COVID-19
A 39-year-old Singaporean man has been apprehended for his suspected involvement in money launder...
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UAE Struggles to Shade Off Grey-List Status as it Continues to Attract More Crypto Firms
The UAE is keen on regaining a good reputation by clearing its name from FATF’s grey list while t...
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European parliament imposes ban on facial recognition technology
Following a public outcry after the leak of an internal memorandum discussing the utilization of ...
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South African Government Passes Key AML and CFT Laws to Fight Financial Crimes
South African government passes two significant laws to implement Anti Money Laundering and Count...
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DISA is Working on a Digital Identity, Credential, and Access Management Tool
According to Nextgov reports, the Defense Information System Agency (DISA) in the US has announce...
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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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FATF Highlights “Important Progress” in Colombia’s Anti-Money Laundering Reforms
A follow-up report from FATF (Financial Action Task Force) reveals that Colombia has significantl...
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Swiss Govt. to Amend Banking Act for Press Freedom in Finance Sector
The Swiss Government has signaled to amend the banking act for press freedom in the finance secto...
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EU Parliament Approves More Stringent Rules to Combat Money Laundering and Terrorist Financing
The latest EU Parliament vote approves the formation of a new anti-money laundering authority and...
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Argentina Proposes VASP Registry as Part of Updated AML Law
Argentina is preparing to update its AML and CTF law and has proposed to include a registry for v...
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Interpol Seizes $130M Worth of Virtual Assets from Cybercriminals Worldwide
The International Criminal Police Organization Interpol has seized $130 million worth of virtual ...
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AAT Warns UK Businesses are Vulnerable to Money Laundering Threat After Reforming AML Regulations
The Association of Accounting Technicians (AAT) warned the UK government that reforming Anti-Mone...
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The number of Bitcoin ATMs has increased to 8,000
The total number of Bitcoin ATMs across the world have crossed 8,000.
The United States has more...
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Actor Behind $650M Ponzi Scheme Set to Face 20-Year Jail Time
The actor was arrested on account of wire fraud, identity theft, securities fraud, and executing ...
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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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UAE Central Bank Imposes Financial Sanctions on Six Banks for CDD Failures
Six banks in the UAE have been issued financial sanctions by the UAE Central Bank for not complyi...
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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 Target UK’s £400 Energy Bill Support Scheme through Scam Texts
Fraudsters are taking advantage of the support program initiated for people to lessen the burden ...
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FATF Examines Technology use in Making AML/CFT More Effective
FATF has recognized the importance of combining human input and manual review with automation for...
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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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Phase One of the Crypto Regulatory Framework in Switzerland Begins
As of today, phase one of the regulatory framework regarding the cryptocurrency and blockchain in...
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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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Asia/Pacific Group on Money Laundering Releases 2021 Typologies Report
The report has highlighted areas of high priority that need further study and the risks associate...
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The Age Verification Software Market to Experience Tremendous Growth by 2025
The increasing number of scams in today’s virtual world needs a better verification system. Prote...
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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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China Strengthens Anti-Money Laundering Rules for Financial Institutions
China has taken steps to improve financial institutions’ measures to combat money laundering by p...
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ACRA to Impose Stricter Rules to Combat Money Laundering & Terrorist Financing
ACRA has proposed stricter rules for professionals and firms that assist businesses with corporat...
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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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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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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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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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Small Business Group Sues Treasury Department Over ‘Money Laundering Transparency Initiative’
A small business lobbying group has sued the Treasury Department over asking more than 30 million...
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AGA Issues Updated AML Compliance Guidelines for the Gaming Industry
American Gaming Association (AGA) launches the third edition of the Best Practices of AML Complia...
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Cryptocurrencies Need Regulation to Prevent Money Laundering, Says Singapore Minister
A panel of regulators and bankers at the World Economic Forum stated that cryptocurrency need to ...
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Australia Risks Damage To Economy Unless Money Laundering Laws are Improved
A Senate committee says that Australia is at risk of damaging its economy if money laundering law...
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EBA Issues Guidance on the Roles of AML/CFT Compliance Officers
The European Banking Authority has published guidelines that state the roles of Anti-money launde...
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Global OCR market expected to reach $70 billion by 2030
The global OCR market is expected to grow at the CAGR of 15% from 2020 to 2030, reaching USD 70 b...
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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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Russian Financial Authorities Reach Consensus on Crypto Mining Regulation
Russian financial authorities have adopted a common ground on cryptocurrency mining regulation. T...
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Japanese Gaming Giant Capcom Fell Victim to Cyberattacks
The famous gaming giant, Capcom, is being blackmailed by cyberattackers to pay $11 million bitcoi...
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UK Launches New Crypto Asset Promotion Rules
The UK’s latest obligations on the promotions of the crypto service providers came into force thi...
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China’s Central Bank Fines ICBC & Bank of Chongqing for AML Shortcomings
Chinese banks including industrial and commercial banks of Chongqing have been fined by regulator...
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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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One Million Student Records Compromised by E-Learning Sites
About one million online student records that contain personal information of students have been ...
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