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Customers warned of scams by the UK banking lobby amid COVID-19
Banking customers should be aware of fraudsters who are exploiting the COVID-19 epidemic to carry...
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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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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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Singapore Under High Scrutiny Amid Money Laundering Scandal
Singapore, an immaculate business hub, is under fire for one of the largest money laundering case...
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FATF to Conduct Checks & ‘Gray List’ Countries to Enforce Crypto AML Regulations
Global financial watchdog FATF has planned to perform checks and ‘grey list’ countries to ensure ...
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Russian police arrest former post office chief for mining crypto
A former Russian regional post office chief was involved in mining cryptocurrencies via the offic...
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Facial Recognition Market to Grow 12.5% Annually Through 2024
According to a new report by Mordor Intelligence, the facial recognition market is expected to gr...
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US Sanctions Crypto Mixer Sinbad Over Connections to North Korea
The FBI and the Dutch Financial Intelligence and Investigation Service have a crackdown on virtua...
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Few Hours Left! Was Mail-in-Ballots Successful?
The US elections 2020 have been exhilarating yet stressful for all the residents. The coronavirus...
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EU Watchdog Takes Deep Dive Into Banks’ Use of Technology
EU’s banking watchdog has recognized the need for RegTech solutions and proper regulatory standar...
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Digital euro successfully tested at the Bank of France
On May 20, Banque de France announced that France has become the first country to successfully te...
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FINMA Allows Chip Scanning and Geolocation for Digital Customer Onboarding
The FINMA now enables the scanning of microchips inserted in biometric ID documents as an element...
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Labor Party Victim of a Second Cyber-Attack
Britain’s Labour Party has informed that it had been a victim of a large-scale cyberattack on its...
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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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Mongolia Stays Committed to the Fight Against Money Laundering
Mongolia is the first Asia-Pacific and fifth global nation to implement all 40 FATF recommendatio...
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Ledger Owners Scammed worth 1.1 Million XRP
Earlier this year Legsdger customers faced a leak of email and personal information. Now they are...
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Money Laundering Via Trade Has Drastically Fallen, Says Association of Bankers Bangladesh
On May 22nd, the Association of Bankers, Bangladesh (ABB) reported that trade-based money launder...
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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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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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Amazon Sued Over Illegal Storage of Employee Biometric Data
Lawyers from the firm of McGuire Law P.C. of Chicago filed a class action complaint on November 1...
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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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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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Experts Warn that Scammers are Exploiting EU Users on Meta’s Threads
Meta’s Threads app has become the newest platform for cyber scammers to commit identity theft, cr...
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UK Treasury Committee Launches Inquiry into the Role of Crypto Assets and the Associated Risks
The Treasury Committee of the UK’s House of Commons has urged the public to submit their take and...
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Monetary Authority of Singapore to Support G20 TechSprint Initiative
The Monetary Authority of Singapore (MAS), the nation’s central bank and financial regulator, rec...
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MAS Imposed a Fine of $375,000 on UOB Kay Hian For Business Conduct Compliance Failures
The Monetary Authority of Singapore (MAS) imposed a fine of S$375,000 on UOB Kay Hian, a brokerag...
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SEC Ramps Up Efforts to Tackle Identity Theft in the Captial Market
The Securities and Exchange Commission (SEC) has noted that the Identity Management System will d...
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Cambodia and Thailand Police Forces Unite Against Money Laundering and Terrorist Financing
The Cambodian and Thailand National Police officers partner to bolster their strength against mon...
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Court Filing Reveals that Hundreds of Roblox users Are Laundering Money Using In-Game Currency
Roblox, one of the popular video game platforms having over 58 million users, is being used to la...
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ID Theft to Drive Majority of the Online Payment Frauds in 2021
Online payment fraud losses will exceed $206 billion over the next few years and the majority of ...
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Iranian Banks in Bahrain to be Prosecuted for Breaching AML Sanctions
Bahrain’s public prosecutor declared that the 13 Iranian banks, including the Central Bank of Ira...
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US Law to Ban Shell Companies Runs into Delays
A new US law to prevent businesses from tax evasion using shell companies has been delayed at the...
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Black Friday Shoppers Alert: Digital Scam Victims Lose an Average of £1,000 Each
Black Friday shoppers have been advised to strengthen their cybersecurity as NFIB revealed that v...
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FinCEN Implements Stringent KYC Regulations For Digital Wallet
The USA Treasury Department has proposed KYC- Know Your Customer Regulations for the digital asse...
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Saudi Arabia Uncovers Massive Fraud worth SR11.5 Billion
Law enforcement authorities in Saudi Arabia arrested at least 32 suspects including businessmen, ...
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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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U.K Accelerates New Plans to Crack Down on Foreign Money Laundering Activities
The U.K plans to crack down on money laundering activities, legislate new laws to register foreig...
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Google plans to conduct identity verification of advertisers
Google stated in a blog post on Thursday that it will soon require all advertisers to verify thei...
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DC is the Latest State to Sue Juul over Targeting Minors
The District of Columbia is now the latest state to sue c-cigarette maker, Juul Labs, saying the ...
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Singapore Passes Stringent Regulations to Clamp Down on Money Mules
Singapore has passed stringent regulations to clamp down on money mules and those who give contro...
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US government favours a hands-off approach to AI’s regulation
The white house listed 10 principles that federal agencies should consider when drafting laws and...
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Star Casino’s Share Tumbles 21% Following Money Laundering Allegations
Individuals banned from gambling at the Star casino in Sydney had been permitted to gamble at Sta...
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Bermuda Monetary Authority Tightens AML Control as Threat of Money Laundering Increases
Bermuda Island was rated high in the 2020 Money Laundering and Terrorist Financing Risk Assessmen...
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Online fraudsters steal £17m over COVID-19 lockdown
About £17 million have been lost due to online fraud over the Coronavirus lockdown period with yo...
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Singapore Seizes $736m Worth of Assets in Money Laundering Investigation
Singapore police have arrested 10 foreigners in the money laundering operation and seized $736m w...
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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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FATF Member, Saudi Arabia, Winning the World Money Laundering Race
During a virtual meeting on Monday, the FATF supported Saudi Arabia to combat money laundering an...
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Cloudflare Discloses Another huge DDoS Attack
Amid the COVID-19 outbreak, a surf in internet traffic can be seen and thus, an increase in cyber...
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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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Pacific Financial Intelligence Unit Collaborates to Combat Money Laundering
The Financial Intelligence Unit of the Pacific region arranged the meeting last week to enhance t...
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Visa: CBDC is the most important trend in payments
According to Visa’s Head of Crypto, Central Bank Digital Currencies, or CBDC, seems to be one of ...
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1803 Arrested in Money Laundering Crackdown Coordinated by 27 Countries
In a major money laundering crackdown, European police identified more than 18,000 money mules, a...
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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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US Infrastructure Bill Eyes on Introducing Stringent Crypto Provisions
The infrastructure bill proposed in the US Congress aims at revamping how crypto exchanges perfor...
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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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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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FCA Probe into Barclays for Anti-Money Laundering Failings
The Financial Conduct Authority opened a probe into Barclays for suspected failings in compliance...
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Germany to Form a new Anti-Money Laundering Agency
Germany is reportedly forming a new AML agency that aims to regulate sanction efforts and money l...
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Singapore Central Bank to Utilize AI Technology to Combat Money Laundering
The Monetary Authority Singapore (MAS) seeks to utilise AI technology to bolster the security of ...
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Joint US-Spanish Operation Broke a Multi-Million Euro Credit Card Scam
The US Secret Service and Spanish police were working together on an operation when they shut dow...
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Non-compliant Crypto Accounts will Face Immediate Closure from Banks – Says CBN
Nigerian banks are ordered to track and freeze non-compliant crypto accounts, while banks that fa...
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Shanghai police warn citizens to beware of online romance frauds
Shanghai police are warning people to be aware of Romantic Internet scams in which victims lose a...
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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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Manitoba Expands Criminal Property Forfeiture Branch to Counter Money Laundering
The Manitoba government is expanding the Criminal Property Forfeiture (CPF) branch as part of its...
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Study Reveals Alabama to be the Center for Identity Theft and Fraud
According to the latest study, Alabama has become the state with one of the highest rates of iden...
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Victor Fredung Warns Businesses about the Rising Cybercrimes During Halloween
Halloween is one of the most awaited festivals throughout the year. While people plan different t...
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UK Announces New Legislation to Regulate Crypto Assets Industry
The UK’s government has developed its first legal framework for cryptocurrency trading and ...
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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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Singapore, Cyprus, and the US Expedite Efforts to Combat Financial Crimes Effectively
Singapore, Cyprus, and the US are stepping up their efforts to curb financial crimes while aiming...
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House Bill Passed in Philippine to Enforce AML LAW
House of Representatives has approved legal amendments to regulate the developers, metal dealers,...
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59 Arrested in Vietnam Crackdown on Illegal Crypto Gambling Group
Law enforcement bodies arrested 59 Vietnamese in illicit gambling schemes and were suspected of $...
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Japan Revises Six Laws to Tackle Money Laundering in Cryptocurrency
The Japanese government is pondering enacting a new law. The “bundling bill” proposed...
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