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SkyCity Adelaide Casino Investigation on hold Amid Money Laundering Court Action
The investigation of SkyCity Adelaide’s capacity to hold a casino licence has been “put on hold”....
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WhatsApp Introduces Fingerprint Authentication For Android
WhatsApp has recently announced that its app can be locked with a fingerprint, now available on A...
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SEC Warns Wall Street to Enhance AML Systems
US regulatory authority, the Security and Exchange Commission (SEC), warns Wall Street brokers of...
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Elon Musk proposes regulations on artificial intelligence
”Organizations developing artificial intelligence must be regulated”, says Elon Musk. This is not...
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FINRA Issues Notice to Remind Firms of Nation-wide AML/CFT Priorities
FINRA has issued a notice reminding all member firms to comply with AML/CFT priorities as mandate...
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Russian Government to Take Regulatory Steps to Harmonize Crypto Market.
Prime Minister of Russian has suggested that crypto should be recognized through the nation’s tax...
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TD Banking Group Expects US Penalties for Money Laundering
TD Banking Group disclosed that they expect fines and non-compliance penalties related to US auth...
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Four Biggest Irish Banks Join Forces for Enhanced Security Measures
Four biggest banks in Ireland, AIB, Bank of Ireland, PTSB, and KBC, have collaborated on the meas...
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Deutsche Bank Pays $130M to Avoid Corrupt Payment Charges
Deutsche Bank, a German investment bank, has agreed to pay the fine of $130 million to settle the...
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FCA Spends $650K to Beef up its AML Control for the Crypto Industry
FCA spends $670,000 on training cryptocurrency exchange staff along with strengthening AML requir...
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AUSTRAC Denounces De-banking Practices To Prevent Financial Crimes
AUSTRAC stated that de-banking is a complex global problem as it multiplies the risks faced by fi...
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Businesses at Risk Due to 6AMLD by the European Union
The European Union imposed the fifth anti-money laundering directive in January 2020, which enhan...
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UK’s Victoria Gate Casino Fined $613K over AML Failings
The Source of funds for 10 customers were left unidentified by UK’s Victoria Gate Casino, resulti...
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FATF Issues Guidance for AML/CFT Digitization of FIUs
FATF published a report in collaboration with the Egmont group discussing why and how FIUs should...
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Ransomware attacks rise as criminals target remote working
Ransomware attacks are getting bigger and bolder at a time where many organisations are implement...
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Following an FCA Crackdown, Cryptocurrency Investors to Wait 24 Hours Before Completing Their Transactions in the UK
The Financial Conduct Authority (FCA) crackdown forces new crypto investors in the UK to wait 24 ...
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HSBC reports money laundering violations in Australia
LONDON – According to Reuters, HSBC bank (HSBA.L) has reported itself to the Australian fin...
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National Westminster Bank Pleads Guilty to AML Breaches
NatWest has stated that it violated multiple anti-money laundering regulations that required the ...
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US Regulators to Sharpen AML Expectations For Crypto Sector
The US regulators are increasing the AML compliance expectations within the crypto sector to ensu...
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Comparitech Report Ranks Biometric Data Use: China Tops the List
Comparitech, a pro-consumer technology website, conducted a study including 50 countries and thei...
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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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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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UK to Apply Digital Identity Verification Across Government Services
Michael Gove, Cabinet Office Minister has written to Whitehall departments about obligating the u...
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South Korea Demands Crypto Exchange Data from Banks for Tighter Regulations
The financial regulators in South Korea are seeking crypto exchange data from the banks in order ...
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SRA Fines a Law Firm £14,000 for Breaching ID Verification Regulation
A business organization is being penalized £14,000 by the Solicitors Regulation Authority (SRA) f...
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FATF Highlights the Increasing Risk of Trade-Based Money Laundering
FATF- Financial Action Task Force is warning businesses of the risk they face regarding trade-bas...
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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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Cambodia Under FATF’s Tight Monitoring Over Weak AML Measures
Cambodia is under the tight monitoring of FATF over weak AML measures. According to Transparency ...
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Louisiana Approves First Regulation Requiring Age Verification to Access Pornography Sites
Louisiana’s House of Representatives passed the bill against age verification in the porn industr...
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Ireland’s Central Bank Found Gaps in Anti-Money Laundering Compliance Practices
Ireland’s Central bank has found that certain financial firms are lacking in regards to anti-mone...
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FinCEN Alerts FIs of Sanction Evasion by Russian Entities Implicated in U.S. Commercial Property Investments
FinCEN alerted all the Financial Institutions warning about the risk of investment from sanctione...
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UAE Judges Discuss Steps Taken by Authorities to Strengthen AML Controls
UAE’s senior judges outline the legal actions taken by authorities to strengthen anti-money laund...
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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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Another Step Taken by the EU to Harmonize AML Rules
The European Banking Authority has proposed new guidance for compliance officers. The attempt is ...
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UK Convicts 11 Couriers for Conspiring to Launder $124 Million in Cash to Dubai
An investigation conducted by the UK’s National Crime Agency led to the conviction of 11 co...
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Japan Crypto Regulator States Easing of Restrictions Must Wait
The Japanese financial regulator FSA is reluctant about easing regulatory requirements for the cr...
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Australian Government Announces Development of Gambling Regulations Commission
Australian spokespersons for Gambling and Harm Reduction forced the New South Wales (NSW) governm...
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Adelaide Casino to Face Court Action Over AML/CTF Violations
AUSTRAC has revealed the beginning of civil penalty proceedings in the Federal Court against SkyC...
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FATF: US largely complacent with virtual currency regulations
The Financial Action Task Force (FATF) has rated the U.S. “largely compliant” with its revised cr...
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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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Corrupt Countries Tend to Have a Higher Number of Crypto Users, Says IMF
A recent International Monetary Fund (IMF) study shows that counties that have more corruption ha...
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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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UK Regulatory Authorities Warns Crypto Firms to Comply with Latest AML Obligations
The UK regulatory department, Financial Conduct Authority (FCA), has warned cryptocurrency platfo...
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Central Bank of UAE Issues Updated Guidance For Licensed Financial Institutions
CBUAE issues updated guidance for licenced financial institutions on growing risks of money laund...
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HKMA Issues Mandate to Encourage Innovation in AML/CFT
Hong Kong’s Monetary Authority is set to launch interactive lab sessions to experiment with innov...
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AUSTRAC Has Published a New Guidance For Detecting “Cuckoo Smurfing”
AUSTRAC’s guidance offers indicators for financial institutions, to allow them to detect suspicio...
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Guyana Completes Money Laundering and Terrorist Financing Report Afore CFATF Assessment
Guyana has completed its second money laundering and terrorist financing National Risk Assessment...
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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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Wealthy Americans Targeted by U.S. in Panama Tax-fraud Probe
Financial authorities in the US obtained a legal mandate to acquire information about wealthy cit...
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Facebook affirms Libra commitment with new job openings
According to the Irish Times. Facebook is planning to hire 50 people for its payment app Calibra ...
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Natwest Caps Transfer Limit to Binance Over Fraud Concerns
Natwest bank is scrutinizing cryptocurrency transactions, including Binance transactions, due to ...
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Swedish gambling regulator seeks high money-laundering fines
The Swedish Gambling Authority (SGA) has taken a tough stance against money laundering and reques...
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MP Calls in For UK’s Defences in Opposition to “Dirty Money” Overrun
The cross-party group of MP declares UK defences in becoming the “jurisdiction of choice for dirt...
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The Naivas Data Breach | A Wake-Up Call for Firms to Follow Privacy Laws
Naivas, one of Kenya’s largest supermarkets, recently suffered a data breach, highlighting ...
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Central Bank of UAE Issues New AML Guidelines to Mitigate Payment Fraud Risks
The Central Bank of UAE has issued new anti-money laundering guidelines to prevent payment frauds...
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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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PHL Ranking Declines in the Corruption Index, Reveals GRP
According to the Global Risk Profile (GRP), the ranking of the Philippines in the corruption inde...
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EUR 27 Million Worth Crypto Assets Seized by the NCA in Money Laundering Crackdown
NCA seizes crypto assets worth £27m last year in a major money laundering crackdown
Although inst...
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Anti-Money Laundering Laws Require NGOs to Disclose Their Funding Sources
Principal Secretary for Internal Security, Dr Raymond Omollo, has sent a directive to Non-Governm...
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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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Australian Regulators Seeking to Implement Travel Rules for Cryptocurrency
Australia is looking at the laws that would require cryptocurrency providers to record the inform...
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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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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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Cabinet Pressurizing BVI to Improve its Financial Laws
Many international financial regulatory bodies have pointed fingers at BVI’s financial service in...
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AI-based voice cloning induces new scams
Vijay Balasubramaniyan, the CEO, CTO, and Co-founder of Pindrop Security, warns the world about a...
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Ransomware attack exposes 1.5TB of stolen aerospace data
ST Engineering Aerospace’s US subsidiary experienced a ransomware attack that extracted about 1.5...
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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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Criminal Group in KSA Jailed 24 Years Over Money Laundering Offence
Criminals in Saudi Arabia sentenced to 25 years imprisonment after getting caught in money launde...
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Southern District of New York Alleges Danske Bank against Serious AML Scandal
SDNY sentences Danske Bank with three years of probation on the tale of whistleblowing and mislea...
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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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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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UAE to Step Up AML Measures to Avoid FATF’s Gray List
After FATF’s warning to grey list the UAE for AML failures, the region is set to step up complian...
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