The Top 10  Most Difficult Countries for Identity Verification

The Top 10  Most Difficult Countries for Identity Verification

Download Report

    n-img-roi-cross

    Before You Go, Schedule Your Free Demo Today

    Valid Invalid number


    Note: Fields marked with an asterisk(*) are mandatory.

    n-exit-img-roi-cross

    Thank you for your demo request

    We appreciate your interest and look forward to discussing how our solution can meet your needs. Expect to hear from us shortly with scheduling details.

    Close

    us

    216.73.216.28

    Binance Resorts to Shady Crypto Firms as Authorised Options Run Short

    n-img-binance

    Binance, the global crypto exchange leader, retract to shady asset companies as authorised options minimise.

    Any reputable firm never backs shady crypto firms. These payment providers are forced to flip from one dark company to another as each subsequent member either cut ties or is disassembled by law enforcement authorities.

    The firms involved in this are not small shops, they might be the most giant corporations in the industry. Binance, this week, was cut off from its US banking partner, Signature Bank, in between the reports that the famous crypto giant’s clients could not withdraw the funds from the platform. 

    Also, before this latest incident, Crypto Capital Corp, a Panamanian offshore firm was found guilty of money laundering and financial fraud. The US watchdogs seized funds nearly billion dollars it was holding for abundance and digital asset clients. 

    Crypto capital had become the payment processor as a last resort for digital asset companies that couldn’t convince any reputable firm to support them. Tether/Bitfinex were among the most notable clients which were scrutinised by New York AG in 2020 and 2021 because of its association with the Crypto Capital. 

    The investigations further revealed that Bitfinex had invested almost a billion dollars into the Crypto Capital and it is predicted that US authorities seize the whole amount over money laundering controls. The executive team was indicted and moreover, the firm’s clients were left in the gaping hollow where their reserves used to be. 

    As a whole, this gives Crypto Capital a place in digital asset history because the New York AG’s investigation revealed that Tether used its reserved budgets to back Bitfinex out of this pit, which proves that Tether had long been indicted of, and also the stablecoin is also not fully backed by the reserves. 

    Suggested Read:

    Binance Fined $3.4 million by Dutch Central Bank For Violating Regulatory Laws

    Binance Expands Footprint in Europe as it Acquires License to Operate in Sweden

    Binance Pulls Out its Rival Exchange Huobi from Money Laundering Attempt

    Related Posts

    News

    Regulatory Authorities Fines TD Bank, Adelaide Casino, and SBI over $500 Million For AML Failings

    International financial watchdogs have imposed a fine of over $500 million on TD Bank, Adelaide C...

    Regulatory Authorities Fines TD Bank, Adelaide Casino, and SBI over $500 Million For AML Failings Explore More

    News

    2021 to Set New Record for Most Data Breaches in a Year

    Studies have shown a staggering 1,291 data breaches till the end of September this year, exceedin...

    2021 to Set New Record for Most Data Breaches in a Year Explore More

    News

    Owner of RGCoins Rosen Iossifov Guilty of Crypto Money Laundering

    Iossifov was accused of two conspiracy counts; racketeering and money laundering. After a two-wee...

    Owner of RGCoins Rosen Iossifov Guilty of Crypto Money Laundering Explore More

    News

    FSRA to Take Action Over the MGA’s Training Practices

    The Financial Services Regulatory Authority of Ontario (FSRA) has notified that it’s going to tak...

    FSRA to Take Action Over the MGA’s Training Practices Explore More

    News

    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 ...

    NDAA Passed to Strengthen the Financial Crime Monitoring in the USA Explore More

    News

    FATF Publishes Two New Updates on Global ML/TF Risks

    FATF, the international group that makes global Anti-Money Laundering and Countering Terrorism Fi...

    FATF Publishes Two New Updates on Global ML/TF Risks Explore More

    News

    Sri Lanka removed from the high-risk money-laundering list

    COLOMBO – Sri Lanka was recently removed from the list of high-risk countries for money lau...

    Sri Lanka removed from the high-risk money-laundering list Explore More

    News

    UAE Receives Observer Status at APG For Money Laundering

    UAE becomes the first Arab country receive an observer status at the Asia/Pacific Group of Money ...

    UAE Receives Observer Status at APG For Money Laundering Explore More

    News

    EFCC Urges DNFBPs to Align Operations with Newly Enacted Money Laundering Prohibition and Prevention Act 2022

    EFCC has called on designated non-financial businesses and professions to conduct their dealings ...

    EFCC Urges DNFBPs to Align Operations with Newly Enacted Money Laundering Prohibition and Prevention Act 2022 Explore More

    News

    Amendments in Thailand’s Money Laundering Act to Include New Offenses

    A proposed amendment in Thailand’s Money Laundering Act was approved by the cabinet to include ad...

    Amendments in Thailand’s Money Laundering Act to Include New Offenses Explore More

    News

    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...

    Canada’s Federal Government Announces Public Consultation Regarding a New Framework for Digital Identity Explore More

    News

    Japan’s regulator verifies 2 new digital currency alliances

    Financial regulators in Japan have approved two organizations to act as digital currency associat...

    Japan’s regulator verifies 2 new digital currency alliances Explore More

    News

    FATF Discloses Outcomes of October Plenary Meeting

    The international regulatory authority, Financial Action Task Force (FATF), concluded its fourth ...

    FATF Discloses Outcomes of October Plenary Meeting Explore More

    News

    South Korea Seizes $47M Worth of Crypto from Tax Evaders

    South Korean officials have seized $47 million in cryptocurrency from 12,000 individuals accused ...

    South Korea Seizes $47M Worth of Crypto from Tax Evaders Explore More

    News

    Turkey Remains on the FATF Gray List for AML Regulations Failures

    Turkey’s government has failed to comply with Anti-Money Laundering (AML) and Counter-Financing T...

    Turkey Remains on the FATF Gray List for AML Regulations Failures Explore More

    News

    Danske Bank Under Fire Over AML Shortcomings

    The FSA has reprimanded Sweden’s Danske Bank over ‘shortcomings’ in its anti-money laundering con...

    Danske Bank Under Fire Over AML Shortcomings Explore More

    News

    FinCEN Wants Banks to Submit SARs to Affiliates Under AML Act 2021

    FinCEN proposed a new rule that will allow banks to share suspicious activity reports with foreig...

    FinCEN Wants Banks to Submit SARs to Affiliates Under AML Act 2021 Explore More

    News

    FCA Cracks Down on Various Operators Hosting Illegal Crypto Cash Machines Around Leed

    The FCA (Financial Conduct Authority) suspects many sites around Leeds of hosting illegally opera...

    FCA Cracks Down on Various Operators Hosting Illegal Crypto Cash Machines Around Leed Explore More

    News

    Americans Lose $3.82 Billion to Crypto and ‘Phantom Property’ Investment Scam

    The American public is being alerted to the proliferation of fraudulent investment schemes. Crypt...

    Americans Lose $3.82 Billion to Crypto and ‘Phantom Property’ Investment Scam Explore More

    News

    Online Gambling Operator Penalized Over Failure to Meet Anti-Money Laundering Regulations

    Boylesports, an online gambling operation is facing £ 2.8 million in fines for violating the regu...

    Online Gambling Operator Penalized Over Failure to Meet Anti-Money Laundering Regulations Explore More

    News

    SEC Cautions Citizens Regarding Digital Investment Scams in the Philippines

    The Securities and Exchange Commission (SEC)  has warned the public to pay caution while making d...

    SEC Cautions Citizens Regarding Digital Investment Scams in the Philippines Explore More

    News

    Wells Fargo Hit With $37M Fine Over Forex Fraud

    Improper financial handling, defrauding others, and taking advantage of customers has become a no...

    Wells Fargo Hit With $37M Fine Over Forex Fraud Explore More

    News

    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...

    CIBC Fined C$1.3M by Canadian Anti-Money Laundering Authority Explore More

    News

    UK’s Decision to Dump the GDPR Raises Concerns for Online Gambling Sector

    The UK is facing financial turbulence because of changing its way from participating in European ...

    UK’s Decision to Dump the GDPR Raises Concerns for Online Gambling Sector Explore More

    News

    Prosecutors Raise Questions About KYC/AML Against Cryptocurrency Mixers

    According to the prosecutors and financial regulators, cryptocurrency mixers are reportedly being...

    Prosecutors Raise Questions About KYC/AML Against Cryptocurrency Mixers Explore More

    News

    EU Plans for New Anti-Money Laundering Agency

    European Union’s anti-money laundering agency plans are being developed in detail. A memo dated M...

    EU Plans for New Anti-Money Laundering Agency Explore More

    News

    Central Bank of Bahamas Calls for Stringent Due Diligence in the Wake of FTX Collapse

    The Bahamas’ Central Bank has called for stricter due diligence while moving funds in the w...

    Central Bank of Bahamas Calls for Stringent Due Diligence in the Wake of FTX Collapse Explore More

    News

    The Anti-Money Laundering (AML) Whistleblower Program is Set to Fortify US Anti-Corruption Efforts in 2024

    The Anti-Money Laundering (AML) Whistleblower Program is projected to be a leading U.S. anti-corr...

    The Anti-Money Laundering (AML) Whistleblower Program is Set to Fortify US Anti-Corruption Efforts in 2024 Explore More

    News

    Financial Watchdogs Flags Crypto Mixer Stoking as a Potential Risk For Money Laundering

    Cryptocurrencies are highly criticized by financial watchdogs and governments for potential risk ...

    Financial Watchdogs Flags Crypto Mixer Stoking as a Potential Risk For Money Laundering Explore More

    News

    Kenya’s High Court Freezes Sh15 Billion Over Suspected Crime and Money Laundering

    The High Court of Kenya has frozen more than Sh15 billion over suspected proceeds of Money Launde...

    Kenya’s High Court Freezes Sh15 Billion Over Suspected Crime and Money Laundering Explore More

    News

    Blue Star Planet to Pay £620,000 for AML Failures Uncovered by Gambling Commission

    Blue Star Planet which was trading as 10Bet to pay £620,000 ($746,716) after it was found guilty ...

    Blue Star Planet to Pay £620,000 for AML Failures Uncovered by Gambling Commission Explore More

    News

    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...

    MASAK to Investigate Short Video Hosting Platform, TikTok Over Money Laundering Allegations Explore More

    News

    Albania Fails to Take Strict AML/CFT Measures

    According to MONEYVAL, Albania has failed to take the necessary steps to improve measures on figh...

    Albania Fails to Take Strict AML/CFT Measures Explore More

    News

    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...

    Crown Casinos Fined $450 Million for AML Failures Explore More

    News

    A Brussel Led Crackdown to be Held in Britain if EU Demands are not Met

    MEPs have ordered Brussels to black-list the city of London if it does not comply with the EU’s D...

    A Brussel Led Crackdown to be Held in Britain if EU Demands are not Met Explore More

    News

    AUSTRAC: Loan Fraud is the Main AML/CFT threat to Non-banks

    AUSTRAC report states loan scams and identity fraud as the main threat to AML/CFT compliance when...

    AUSTRAC: Loan Fraud is the Main AML/CFT threat to Non-banks Explore More

    News

    TRS Requires Trusts to Meet Anti-money Laundering and CTF Compliance.

    As per the new UK government requirements, anti-money laundering and counter-terrorist financing ...

    TRS Requires Trusts to Meet Anti-money Laundering and CTF Compliance. Explore More

    News

    American Gaming Association Updates Best Practices for AML

    The American Gaming Association (AGA) has released updated “Best Practices for Anti-Money Launder...

    American Gaming Association Updates Best Practices for AML Explore More

    News

    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...

    Bank of Ghana to Introduce Digital Currency in ‘Near Future’ Explore More

    News

    Ransomware Targets Outdated Microsoft Excel Macros to Deploy Attacks

    Microsoft Security Intelligence notified users of a type of ransomware, called Avaddon, that uses...

    Ransomware Targets Outdated Microsoft Excel Macros to Deploy Attacks Explore More

    News

    EU Removes Iraq From List of High-Risk Money Laundering Countries

    Iraq has been de-listed from the EU’s list of high-risk countries for money laundering and terror...

    EU Removes Iraq From List of High-Risk Money Laundering Countries Explore More

    News

    Crypto Bill Approved by the US Congress Set to Revamp Digital Asset Securities

    The US Congress presented comprehensive legislation for the crypto market to redefine workflows a...

    Crypto Bill Approved by the US Congress Set to Revamp Digital Asset Securities Explore More

    News

    Tesla Data Breach Leaks Personal Information of 75,000 Customers

    Confidential data of approximately 75,735 people, including names, cell phone numbers, and addres...

    Tesla Data Breach Leaks Personal Information of 75,000 Customers Explore More

    News

    B.C. Real Estate Company Fined $230K for Multiple AML Violations

    Nu Stream Realty Inc. has been fined $230,423 for failure to comply with federal Anti-Money Laund...

    B.C. Real Estate Company Fined $230K for Multiple AML Violations Explore More

    News

    HEDA Calls for Professional Regulatory Bodies to Sanction Corruption Enablers

    The Human and Environmental Development Agenda (HEDA), the leading civic society organization on ...

    HEDA Calls for Professional Regulatory Bodies to Sanction Corruption Enablers Explore More

    News

    UAE Strengthens AML Measures to Bolster Virtual Asset Framework

    The UAE’s anti-money laundering and counter-terrorism financing department stated it continues bo...

    UAE Strengthens AML Measures to Bolster Virtual Asset Framework Explore More

    News

    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...

    11 Jailed in Saudi Arabia for Laundering $2.7 Billion Explore More

    News

    Thailand Launches Anti-Online Scam Center to Combat Cybercrimes

    The Thai Government has officially launched the Anti-Online Scam Operation Centre (AOC) as of  No...

    Thailand Launches Anti-Online Scam Center to Combat Cybercrimes Explore More

    News

    Client Sues Credit Suisse for Losing $607 Million in Fraud Scheme

    A Georgian billionaire, Bidzina Ivanishvili, has sued the Swiss bank, Credit Suisse over a Fraud ...

    Client Sues Credit Suisse for Losing $607 Million in Fraud Scheme Explore More

    News

    EU Plans for New Anti-Money Laundering Agency

    European Union’s anti-money laundering agency plans are being developed in detail. A memo dated M...

    EU Plans for New Anti-Money Laundering Agency Explore More

    News

    Latvia’s Bank Rietumu Fined EUR 5.85M Over Money Laundering Failures

    The Financial and Capital Market Commission has fined Bank Rietumu EUR 5.85 million over failures...

    Latvia’s Bank Rietumu Fined EUR 5.85M Over Money Laundering Failures Explore More

    News

    Archipelago Trading Fined $1.5 Million for SAR and AML Failings

    The US Security and Exchange Commission (SEC) fined the Archipelago Trading company over the shor...

    Archipelago Trading Fined $1.5 Million for SAR and AML Failings Explore More

    News

    Latvian State Police Bust a Major Money Laundering Ring

    Latvian State Police has identified and busted a huge criminal gang involved in money laundering....

    Latvian State Police Bust a Major Money Laundering Ring Explore More

    News

    UAE adopts digital identity and blockchain to fight COVID-19

    Taking into account the recent Coronavirus outbreak, UAE’s Ministry of Community Development (MOC...

    UAE adopts digital identity and blockchain to fight COVID-19 Explore More

    News

    Uber joins lawsuits to exempt itself from California law

    California law effective from today, i.e. Jan 1 is all set to give equal protection to independen...

    Uber joins lawsuits to exempt itself from California law Explore More

    News

    NYDFS States Signature Bank’s Closure Was Not Linked to Crypto

    According to the head of NYDFS, the decision to close Signature Bank last month had nothing to do...

    NYDFS States Signature Bank’s Closure Was Not Linked to Crypto Explore More

    News

    Federal Prosecutors to End Criminal Investigations on Gambling Site ‘5Dimes’

    5Dimes is a Costa Rica-based online gambling site that took bets from the US clients illegally. P...

    Federal Prosecutors to End Criminal Investigations on Gambling Site ‘5Dimes’ Explore More

    News

    Coronavirus outbreak exploited by internet scammers

    Americans are advised to stay watchful of cybercriminals’ attempts to misuse the life-threatening...

    Coronavirus outbreak exploited by internet scammers Explore More

    News

    UAE Banks Asked to Strengthen their AML/CFT Measures

    UAE financial institutions and the banks are required to prioritize eliminating money laundering ...

    UAE Banks Asked to Strengthen their AML/CFT Measures Explore More

    News

    ICAEW Calls for Professional Scepticism to Mitigate Money Laundering in UAE

    The Institute of Chartered Accountants in England and Wales (ICAEW) and the UAE’s Accountants &am...

    ICAEW Calls for Professional Scepticism to Mitigate Money Laundering in UAE Explore More

    News

    AUSTRAC Partners With UK Counterpart to Fight Fraud

    The financial intelligence agency has announced AUSTRAC has entered a new partnership with a UK c...

    AUSTRAC Partners With UK Counterpart to Fight Fraud Explore More

    News

    Wellington Real Estate Company Fails to Report Suspicious Activity on Properties

    Mills Gibbon and Co, a Wellington-based real estate company, has been warned by the Department of...

    Wellington Real Estate Company Fails to Report Suspicious Activity on Properties Explore More

    News

    People’s Bank of China to Monitor Metaverse and NFTs

    The Chinese financial watchdogs are all set to expand cryptocurrency crackdown as Gou Wenjun sugg...

    People’s Bank of China to Monitor Metaverse and NFTs Explore More

    News

    China Makes Facial Recognition Mandatory For Smartphone Users

    China is making it mandatory for all smartphone users who register new SIM cards to submit to fac...

    China Makes Facial Recognition Mandatory For Smartphone Users Explore More

    News

    Cyber Attacks are More Frequent During the Holiday Season: CISA

    The holiday season is always accompanied by deals, discounts, special offers and countless shoppi...

    Cyber Attacks are More Frequent During the Holiday Season: CISA Explore More

    News

    New European Legislative Proposals to Transform the Digital Platforms

    A new act is proposed by the European Commission to enhance digital spaces. A new set of rules ha...

    New European Legislative Proposals to Transform the Digital Platforms Explore More

    News

    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...

    The number of Bitcoin ATMs has increased to 8,000 Explore More

    News

    UK to Mandate the Declaration of Crypto Holdings in Self-Assessment Tax Return Forms

    The UK government is looking to mandate the declaration of crypto holding in Self Assessment tax ...

    UK to Mandate the Declaration of Crypto Holdings in Self-Assessment Tax Return Forms Explore More

    News

    ACRA Cancels Registration of Company for AML/CFT Failures

    The Accounting and Corporate Regulatory Authority (ACRA) has revoked the registration of a compan...

    ACRA Cancels Registration of Company for AML/CFT Failures Explore More

    News

    Japan Crypto Regulator States Easing of Restrictions Must Wait

    The Japanese financial regulator FSA is reluctant about easing regulatory requirements for the cr...

    Japan Crypto Regulator States Easing of Restrictions Must Wait Explore More

    News

    US Attorney General Warns about the Identity Theft this Holiday Season

    The Federal Trade Commission states that more than 650,000 citizens’ identities have been comprom...

    US Attorney General Warns about the Identity Theft this Holiday Season Explore More

    News

    Belgian Banks to Establish a Platform to Reveal Anti-Money Laundering data

    Belgium’s one of the leading bank chain has now suggested developing a platform that will allow p...

    Belgian Banks to Establish a Platform to Reveal Anti-Money Laundering data Explore More

    Take the next steps to better security.

    Contact us

    Get in touch with our experts. We'll help you find the perfect solution for your compliance and security needs.

    Contact us

    Request demo

    Get free access to our platform and try our products today.

    Get started