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Europol Arrests 106 Suspects in Money Laundering, Online Fraud Case
The organised crime operation involved phishing scams and numerous business email compromise atta...
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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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Nigeria, Myanmar, and Türkiye Take Effective Steps to Meet FATF Recommendations
Myanmar, Nigeria, and Türkiye are implementing effective measures to level up anti-money launderi...
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Crypto Providers at Risk of Money Laundering & Terror Financing, Says FMA
The Crypto industry was rated high-risk in the latest sector risk assessment (SRA) of the FMA, wh...
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State Street Bank fined $1.24 million for breaching AML laws
The US-based State Street bank has been hit with million-dollar money laundering fine. The Austra...
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WhatsApp accounts hacked to acquire bank card details
Recently a new scam has emerged in Singapore where hackers are found to take-over WhatsApp accoun...
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Zipmex Crypto Trading Platform Suspends All Activities in Thailand
Zipmex cryptocurrency exchange firm withdrew all activities in Thailand until 31st January 2024 t...
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Australia DTA Consults on Upcoming “Trusted Digital Identity Bill”
The consultation will facilitate the Trusted Digital Identity Bill, making digital identity syste...
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14 Arrested in Money-Laundering Crackdown, Over HK$300 Million Seized
Hong Kong police carried out a crackdown on money laundering groups, 14 arrested and HK$300 milli...
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North Korean Hackers Attempt to Launder ETH Worth $27M from Harmony Bridge Attack
North Korean hackers behind the Harmony Bridge attack continue to attempt to launder crypto funds...
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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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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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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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Money Mule Initiative Results Announced by the US Department of Justice
As a part of the Money Mule Initiative, the law enforcement depart of the USA has taken action ag...
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Swedbank cuts former CEO’s Golden Parachute over Money-Laundering
STOCKHOLM – Swedbank has canceled the severance pay of former CEO, Birgitte Bonnesen after ...
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Turkey to Face FATF’s Gray List Over Inadequate AML Practices
FATF is set to grey list Turkey over AML shortcomings, a move that is likely to affect the countr...
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Australian Bank, Westpac, Accused of 23 Million Money Laundering Breaches
Australia’s financial intelligence agency, The Australian Transaction Reports and Analysis Centre...
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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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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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UK NCA Recovers $7.5 Million from Azerbaijani Laundromat Probe
The UK’s NCA has recovered 5.6 million pounds ($7.5 million) from bank accounts in the country wh...
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Canada’s Federal Government Announces Public Consultation Regarding a New Framework for Digital Identity
Canada’s government announces public consultation for creating a federally regulated digital iden...
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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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SEC Orders Finance, Lending Companies to Submit AML Plans by 21 June
Philippine’s SEC has ordered all financing and lending companies to submit their plans for the im...
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The Czech Republic Government Amends Beneficial Ownership Law to Meet AML Obligations
The Czech Republic government revised Beneficial Ownership Law upon the European Commission’...
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Growing List of Countries are Introducing Regulations on Crypto
Ukraine’s Parliament officially adopted the Draft Law On Virtual Assets. Prior to this, cryptocur...
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Cyprus Adopts Transparency in Registration of Company Owners
Cyprus has planned to introduce a register in the coming weeks to unveil the identity of thousand...
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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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Hong Kong to Implement Background Checks for Accounting Students
Police will carry out a detailed background check of the students that plan on pursuing accountin...
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Banks Introduce Confirmation of Payee to Tackle Fraud
The Confirmation of Payee (CoP) system was launched in October 2018 but implementation was delaye...
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US DOJ Files Cases to Stop Russian Money Laundering Networks
The US DOJ (Department of Justice) filed two cases in the latest action to disrupt money launderi...
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HKMA Reveals Phishing Fraud Went Up by 145% in 2021
Statistics revealed by HKMA show that phishing fraud rose by 145% in the first half of 2021.
Hon...
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Mega Bank Fined $10 Million in Fake Mortgage Case
Due to poor internal controls, 28 fraudulent mortgage applications went undetected.
The Financia...
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FinTech Market Gaining Traction in Asia, Slowing Down in US
The Financial Technology (FinTech) market is booming in Asia, especially in China according to a ...
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Paramount and Forever 21 Data Breach Exposes Thousands of Customer’s Personal Details
The significant media house Paramount Global and the renowned fashion supplier, Forever 21, have ...
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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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PayPal is hiring crypto engineers amid rumors of Bitcoin integration
Crypto and blockchain experts are being hired by Paypal as rumors circulate that the global payme...
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Japan’s regulator verifies 2 new digital currency alliances
Financial regulators in Japan have approved two organizations to act as digital currency associat...
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UAE police show how fraudsters can access your bank account
Abu Dhabi Police has alerted people against the download of unknown apps so they can secure their...
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The Chinese central bank confirms digital Yuan mobile app trials
According to a statement, the People’s Bank of China (PBoC) conducts internal tests for the natio...
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6 members charged with Fraud in China for involvement in Multi-billion Dollar Plustoken Scam
Six alleged members of Plustokem scam were prosecuted according to the court filing submitted on ...
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Cyprus Securities and Exchange Commission Warns Investing Firms for AML Non-Compliance
The Cyprus Securities and Exchange Commission (CySEC) warned the Cyprus Investment Firms (CIFs) ...
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Kenya Flags Betting Jackpots as Possible Avenues for Money Laundering
Kenya has flagged the mega jackpots paid to the punters in the country as the possible avenues fo...
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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 and UK Initiate Large-Scale Crackdowns Against Money Laundering
The UAE has set up an AML task force that is currently pursuing hundreds of cases, and Cambridges...
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Japan Calls for Disclosure of Major Company Shareholders
Japan’s Ministry of Justice will require firms to submit details of their major shareholders, als...
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FATF puts Morocco on the Gray List for Pervasive Money laundering
Financial Action Task Force, the global regulatory watchdog for money laundering, has placed Moro...
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Homeland Security expects to have biometric data on nearly 260 million people
The US Department of Homeland Security (DHS) will soon have face, fingerprint and iris scans of a...
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Internet fraud complaints went up by 30% last year
As per Economic Affairs Minister Nathalie Muylle, Belgium’s Economic Inspection Unit received 29%...
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Chinese Banks Promise To Step Up Cryptocurrency Ban
Some of the biggest banks in China have promised to refuse help to customers that trade with Bitc...
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AML Task Force Samlit Reports Success in Keeping Fraudsters at Bay
SA Anti-Money Laundering Integrated Task Force (Samlit) claims that it is competent in combating ...
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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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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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Philippines’ Anti-Money Laundering Counsel Increases AML Measures for Casino Junkets
The Philippines’ Anti-Money Laundering Counsel (AMLC) has stated that it is currently impro...
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US Blocks Tornado Cash Investors for Money Laundering Risks & Links to Korean Hackers
The United States has frozen the assets of crypto investors from Tornado Cash Service, saying it ...
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African Federal Government Urges Collaboration to Combat Money Laundering and Terrorist Financing
The African Federal Government stressed the urgent teamwork needed to combat money laundering, te...
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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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US Shows Conflicts with China at First Financial Meeting
In a recent financial working group meeting, the US Treasury raised disagreements with China, whe...
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Yemen Government Accused of Money Laundering by United Nations
Monitors of U.N sanctions have accused Yemen’s government of corruption and money laundering. A r...
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Shufti is nominated for ‘Oustanding Product/ Service’
Global business excellence awards nominated Shufti for the category of outstanding product/ s...
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Brexit Deal Decides the Future of Financial Service in the UK and the EU
Marketers have finally realized the full text of the deal between the UK and Brussels regarding t...
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UAE Freezes Assets of Irish Crime Syndicate for Laundering Money Through Dubai
The UAE has frozen the assets of Ireland’s Kinahan Crime Syndicate, mounting the pressure on an o...
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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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UAE Central Bank Imposes Dh352k Fine on Currency Exchange
The Central Bank of the UAE has fined an exchange house with a total of Dh352,000 for shortcoming...
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China’s cyberspace regulators approve 224 blockchain ventures
China’s Office of the Central Cyberspace Affairs Commission (OCCAC) has recently announced a new ...
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Largest Banking Cooperation in Columbia Busted for Violating Anti-money Laundering Regulations
Banco de Occidente, Columbia’s largest banking cooperation Grupo Aval owned by one of the richest...
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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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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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Bank of Ghana to Introduce Digital Currency in ‘Near Future’
The Governor of the West African nation’s central bank, Ernest Addison, announced the news of Gha...
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US Government Announces Reward for Identifying Sanctioned Russian Assets
The US government has announced financial rewards of up to $5 million for information leading to ...
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EMI Flagged Nearly 40% of UK’s E-Money Exchanges for Money Laundering Risk
A report from Transparency International revealed that nearly 40% of the UK’s e-payment companies...
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US Takes Steps to Regulate Digital Currency Amid Russian Sanction
President Biden signed an executive order on Wednesday wherein the federal government was urged t...
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BSP Warns Play-to-Earn Gamers about Potential Illicit Activities
Online gaming platforms should employ KYC verification processes to make payments more secure.
T...
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