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UAE Issues a Total of $11 Million in Fines for AML Offenses in First Half of 2022
UAE’s AML task force has imposed fines of over Dh41 million ($11m) in the first six months of 202...
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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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Newsman arrested for credit card theft
A Newport Newsman was arrested due to credit card and identity theft allegations.
The arrest was...
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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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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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11 Arrested for the First Money Laundering Case Using Digital Yuan
Chinese security officials have arrested 11 suspects in the first Central Bank Digital Currency (...
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Indian Brokers Under Investigation for Alleged Money Laundering and Identity Theft
Three of the most prominent brokers in the country have come under scrutiny from numerous regulat...
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South Africa Anticipates Removal from FATF Gray List in 2025
The South African government is anticipating that they will address all the FATF international st...
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ICO Warns Public Bodies Over Failure to Respond FOI Requests
ICO warned public bodies regarding Freedom of Information (FOI) requests failure. Different depar...
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$6.1 Million Seized As US Treasury Sanctions Another Crypto Exchange
The US Department of the Treasury has sanctioned Chatex crypto exchange “for facilitating financi...
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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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Bank of Thailand Issues Warning Against Digital Fraud
The central bank advised individuals not to accept information that appears fake, nor to perform ...
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South Korea to Penalize the Non-Compliant Crypto Companies
Financial watchdogs in South Korea have announced regulations to prevent financial crimes in the ...
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FIAU Fines iGaming Company Approximately €236,789 for Money Laundering
The Financial Intelligence Analysis Unit has ordered a Malta-based remote gaming operator to pay ...
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Regulators Express Concerns on TD Bank’s AML Practices Leading to Merger Termination to Acquire First Horizon Bank
TD Bank was being examined by the Office of the Federal Reserve and the Comptroller of the Curren...
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NFTs Seek to Implement KYC/AML Standards as Money Laundering Rises
NFTs (Non-Fungible Tokens) are certainly becoming popular in the crypto industry. However, they d...
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Cyprus to Test UBO Registration System for AML Compliance
The government of Cyprus has indicated it will test a system for registering ultimate beneficial ...
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MASAK to Investigate Short Video Hosting Platform, TikTok Over Money Laundering Allegations
MASAK is investigating the scammers involved in money laundering on TikTok. Over the serious alle...
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New White House Standards Strategy May Affect Crypto Industry KYC Regulations
President Biden’s administration unveiled a national standards strategy on May 4, outlining eight...
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MAS Ramps Up Efforts Against Financial Crimes With the Help of Data Analytics
Singapore’s central bank has revealed in a report on Wednesday that financial criminals will be p...
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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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11 Arrested for Illegal Offshore and Cross-Border Gambling Activities in Macau
11 people arrested along with businessman Alvin Chau in an investigation of bogus gambling scheme...
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US Treasury Department Issues AML Study for the Art Market
The US Treasury Department Issues anti-money laundering (AML) study for the art market, aiming to...
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Morocco’s Parliament Unanimously Approves the Bill to Amend AML Regulations
The House of Representatives of Morocco has unanimously agreed to pass the bill to amend the anti...
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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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EFCC Warns Financial Crime is Thriving in Real Estate
According to the Economic and Financial Crimes Commission, EFCC, real estate companies are requir...
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Global Payments Industry At Risk Due to Cryptocurrencies, Says FinTech Boss
According to the boss of New York based investment banking company, Goldman Sachs, Cryptocurrenci...
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Chinese Officials to Face Scrutiny Over their Financial Affairs in Hong Kong
Hong Kong’s banks will take extra measures to monitor transactions by Chinese politically connect...
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Travel to Restart as Several Countries Roll out Their Version of Vaccine Passports
Japan is planning on introducing a vaccine passport to make travelling easy for people. Internati...
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CIBC Fined C$1.3M by Canadian Anti-Money Laundering Authority
Canadian regulatory authorities imposed a $1.3m penalty on the Canadian Imperial Bank of Commerce...
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Japanese financial watchdog frowns on gambling dapps
Regulators in Japan may be more likely to accept new digital currencies for trading if they have ...
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Coincheck customers fall victim to a data breach
In 2018, Coincheck, the Japanese firm, fell victim to probably the largest cryptocurrency hack in...
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New fake ad alert system launched to fight online scams
According to ITV, the UK Scam Ad Alert tool – developed by the Advertising Standards Authority (A...
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New South Wales (NSW) Government to Make Poker Machine Reforms after Victoria Introduces Strict Anti-Money Laundering Restrictions
The New South Wales (NSW) government of Australia continues to pressure gambling companies to str...
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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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UAE Issues a Total of $11 Million in Fines for AML Offenses in First Half of 2022
UAE’s AML task force has imposed fines of over Dh41 million ($11m) in the first six months of 202...
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Medical Testing Postpones Money Launderer’s Sentencing
The conviction of Mark Scott, a licensed advocate involved in laundering $400 million for the unp...
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Singapore Authorities Investigates Bank’s Role in $1.8B Money Laundering Case
Singapore’s central bank started an investigation against banks involved in a $1.8b global wealth...
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More Crypto Regulations on Their Way, Says Head of Turkish Central Bank
A few days ago, the Turkish Central Bank imposed a complete ban on cryptocurrency payments. Now,...
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Indonesia Becomes Member of International Watchdog, FATF
The international money laundering watchdog, FATF, includes Indonesia as its member state, in a g...
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New York Financial Department Releases Guidelines On Dollar-Backed Stable Coins
The New York Financial Department has released “Guidance on the Issuance of U.S. Dollar-Backed St...
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US Court Sentences Nigerian FinTech Executives for Money Laundering Worth $167 Million
The US Court jails the Fintech Executives of Nigeria over a Money Laundering Case comprising $167...
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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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US Targets More Russian Yachts Linked to Putin as Part of Extended Sanctions
The Treasury Department has expanded its Russian sanctions to target Moscow’s access to yachts as...
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Data of Half-Million Chicago Students Exposed in a Ransomware Attack
The personal information of more than half a million Chicago students and the staff was accessed ...
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Sam Bankman-Fried Charged with Fraud and Money Laundering, Makes Headlines Again
A federal indictment accusing FTX Co-Founder Sam Bankman-Fried of committing widespread fraud has...
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FIU to Audit Crypto Exchanges, Aiming to Reduce Money Laundering
Financial Intelligence Unit under Financial Services Commission to audit Korea’s cryptocurrency e...
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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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FATF Upgrades Guidelines on Risk-Based Approach for VA/VASPs
FATF (Financial Action Task Force) is upgrading the regulations regarding the risk-based approach...
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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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Monetary Authority of Singapore (MAS) Fines Four Financial Institutions for Breaching AML Laws
A fine of S$3.8 million (Singapore dollar) was handed down by the Monetary Authority of Singapore...
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FATF to Publish Revised Guidelines For Virtual Assets Service Providers
The Financial Action Task Force is all set to publish updated guidelines on virtual assets on Oct...
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11 Jailed in Saudi Arabia for Laundering $2.7 Billion
Saudi Arabia has jailed and fined 11 individuals SR62.5 million for money laundering. The group l...
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A Treasury Unit to Enforce New Anti-Money Laundering Laws in the US
A small bureau of the U.S Treasury Department will take a lead, over the next year, in filling ou...
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$2 Trillion Moved and Now Banks Resist Money Laundering Orders
According to the ICIJ journalist, BuzzFeed shared some documents disclosing the attitude of finan...
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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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Australian Federal Police Issues Warning on Valentine’s Day Financial Scams
Australian authorities have warned the public of new Valentine’s Day scams aimed at singles...
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US Imposes First-Ever Sanctions on Bitcoin Mixer for Money Laundering
The US Treasury recently announced that it has imposed the first-ever sanctions on a bitcoin mixe...
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UAE Central Bank: AML Guidelines Issued for Licensed Financial Institutes
The UAE Central Bank has issued guidance for financial institutes to fight money laundering, terr...
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UK Fraud Agency Warns Money Launderers are Targeting Under-21s
Cifas recently reported an economic downturn allows fraudsters to target young people, under 21, ...
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Switzerland Endorses Rigorous AML Measures
Switzerland has introduced new anti-money laundering regulations to bolster financial institutes&...
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UK’s FCA Warns Challenger Banks Over Inadequate AML Measures
The UK’s main financial regulator has warned challenger banks to improve measures for fighting fi...
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Cybercrime to Surge in Cryptocurrency Even in Post COVID-19 Economy
According to a report by Kaspersky Lab about cybersecurity and antivirus, in the post-COVID-19 wo...
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China Raises Penalty, Broadens Scope of AML Laws
The People’s Bank of China (PBOC) has published a revised draft for the country’s AML law which e...
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China Extends the Regulatory Crackdown to the Fintech Giants
The financial watchdogs in China are rolling out new legislative measures to restrict the finance...
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NAB and CBA Exposed Over PNG Money Laundering Case
NAB and CBA have been given a “formal warning” instead of criminal charges, as the PNG regulator ...
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Portuguese Banks Restrict Services for Crypto Exchanges, Citing Risky Grounds
Portuguese banks have restricted services of multiple crypto exchange firms operating in the coun...
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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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China’s Digital Currency Could Be Launched ‘Quite Soon’
Within the next 6 to 12 months, China could launch its own digital currency which may become a ch...
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Interpol Warns of the Rise in Romance Scams as Valentine’s Day Approaches
According to the Interpol, there is a new investment scam on the rise that is targeting the datin...
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Oklahoma Takes Strict Legislative Measures to Prevent Child Identity Theft
The Senate of Oklahoma has approved a bill to take strict measures against those involved in the ...
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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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