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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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The market for Digital Identity Solutions expected to double by 2024
The market for Digital Identity Solutions is predicted to double between 2019 and 2024, as report...
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The Ringleader of a Crypto-Ponzi Scheme Arrested After a Flee Attempt
Mathew Piercey, a Ponzi scheme leader who defrauded $35 million for crypto mining and other inves...
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Macau to Introduce Digital Currency to Combat AML Threats in Casinos
Macau is moving towards introducing digital currency to fight money laundering and tax evasion in...
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COJ Organizes Anti-Money Laundering Unit to Meet FATF Standards
The Companies Office of Jamaica (COJ) has established an AML and CFT unit to comply with FATF req...
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Dubai Police Monitors Cryptocurrencies for Prevention of Money Laundering
The cybercrime unit of Dubai Police has started monitoring cryptocurrencies to ensure that digita...
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South Korean Government to Enforce Cryptocurrency Transaction Monitoring in H1 2023
The South Korean government is looking to implement crypto oversight by tracking transactions to ...
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Europol and EU Member States Launch Operation Targeting Assets of Sanctioned Entities
Europol and EU member states along with Eurojust and Frontex have launched Operation Oscar to ass...
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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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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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UBS to Restrict Credit Suisse Bankers After Takeover
The bankers of Credit Suisse (CSGN.S) will be subjected to tighter regulations introduced by UBS ...
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FinCEN Extends the Comment Period of Virtual Currency Regulations
FinCEN– Financial Crimes Enforcement has finally agreed to reopen the comment period of reg...
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Ransomware attack on insurance MSP Xchanging affects customers
DXC Technology, a global IT solutions provider reported a ransomware attack to the US Exchange Co...
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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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UK Banks and Tech Firms Call on Regulators for Guidance on Tackling Scams
Banks, tech, and telecom firms in Britain have called on lawmakers and regulators to make it easy...
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Action Fraud alerts shoppers about COVID-19 scams
Retail stores and other non-essential shops are recommencing across the United Kingdom, but many ...
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SriLankan Government to Enforce Money Laundering Law to Restrict Illicit Flow of Money
The current scenario of the Sri Lankan currency’s downfall has become a reason for money la...
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SA Government Passes New Legislation to Avoid FATF Gray list
South African government has passed two crucial legislations to prevent potential greylisting by ...
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Netflix ‘Update your payment” phishing scam is bypassing email spam filters
Phishing scams are taking a new turn as more and more people are using streaming services during ...
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FinCEN Shutting the Channels of Financial Crimes Directed through Shell Companies
A major path of money laundering and tax evasion has been shut off by FinCEN with their new regul...
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US State joins international task force targeting COVID-19 investment scams
The Oregon Division of Financial Regulation has recently joined an international enforcement task...
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FCA Bans Crypto-Related Investments in the UK
Financial Conduct Authority- FCA had proposed a ban on crypto-related investments in October 2020...
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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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$320 Million Worth of Cryptocurrency Stolen in Wormhole Hack
A recent hack on one of the most popular blockchain bridges linking Ethereum and Solana led to th...
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American Gaming Association Updates Best Practices for AML
The American Gaming Association (AGA) has released updated “Best Practices for Anti-Money Launder...
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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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Colombian Financial Crime Unit Detects $20 Billion Potentially Linked to Money Laundering
Colombia’s Financial Crimes Unit has detected $20 billion in financial operations that are potent...
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U.K. Parliament Introduces New Online Safety Bill to Curb Push Payment Fraud
The UK Parliament introduces a new Online Safety Bill, to mitigate push payment fraud and increas...
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New York Federal Reserve Sued by Puerto Rican Bank For Blocking Service in Venezuela
A Puerto Rican bank has sued the New York Federal Reserve on 25th July for suspending their acces...
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Switzerland Introduces New Regulations To Clamp Down on Money Laundering
Switzerland proposed new Anti-Money Laundering (AML) regulations to crack down on money launderin...
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Nepal at Risk of ‘Graylisting’ for Allowing Money Laundering
Nepal could be added to FATF’s greylist as the global AML watchdog has found a number of deficie...
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Experts Warn Many Firms Will Face Challenges With Latest FCA UK Crypto Law
The UK’s Financial Conduct Authority (FCA) updated the crypto industry regulations recently, whic...
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Central Bank of Morocco to Introduce a Comprehensive Crypto Regulation Bill
Morocco’s Central Bank is drafting a set of comprehensive cryptocurrency laws as the digital asse...
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Bank of Valletta Fined EUR 2.6 Million for UBOs Reporting Failure
FIAU imposed a penalty of EUR 2.6 million on the Bank of Valletta for failing to report Beneficia...
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UAE Endorses Legal Framework for Unlicensed Virtual Asset Platforms
The United Arab Emirates (UAE) issued new strict anti-money laundering regulations for unlicensed...
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FATF puts South Africa and Nigeria on Anti Money Laundering Gray list
The global financial watchdog puts Africa’s two biggest economies on Anti-money laundering grey l...
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Hong Kong further strengthens its Cryptocurrency regulations
Paul Chan, the Financial Secretary of Hong Kong, stated that the country was considering to stren...
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FBI Expands its Corruption Unit to Closely Monitor Illicit Activities
The Federal Bureau of Investigation (FBI) has stepped in, to monitor international corruption by ...
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Are Educational Institutes Becoming the Next Target for Money Laundering?
According to an investigation by The Times, higher-educational institutes have been unintentional...
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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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Iran’s Finance Ministry Releases List of Individuals Suspected of Money Laundering
The Finance Ministry of Iran has released its first list of individuals suspected of having links...
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Bank of England fines Citigroup £44m Over Poor Financial Information
The Bank of England has fined the UK branch of the US bank, Citigroup, a record £44m because the ...
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Rabobank Fined EUR 500K for Ineffective KYC Compliance
The Dutch Central Bank (DNB) instructed Rabobank to enhance their CDD, transaction monitoring, an...
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AMLC Continues to Address AML Deficiencies as per FATF Guidelines
The AMLC has reported continued efforts to address the deficiencies specified by the FATF to tack...
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Blockchain officially becomes part of China’s tech strategy
According to the National Development and Reform Commission (NDRC), China will use Blockchain to ...
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FATF to Shorten Its Fifth Round of Mutual Evaluation to Assess Countries’ AML Regimes
The Financial Action Task Force has announced that it will shorten its fifth round of mutual eval...
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EU Lawmakers to Decide Ban on Large Crypto Transfers from Self-Hosted Wallets
European Union lawmakers will vote on limiting crypto transfers from self-hosted wallets on March...
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FBI and the U.S. Marshals Service Warn of Prevailing Telephone Scams
FBI and the U.S. Marshals Service have warned of prevailing telephone fraud in which callers act ...
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EBA Issues Draft to Set up Central Database for AML and CFT
On December 20, 2021, the European Banking Authority (EBA) issued its draft Regulatory Technical ...
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UAE talks about developments in combatting the financing of terrorism
The NAMLCFTC inaugurated its second discussion on March 4 2021 and approved countermeasures that ...
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15 Billion Stolen Logins From 100,000 Breaches – Reveals New Dark Web Audit
15 billion – a figure published demonstrates the stolen logins came about through the 18 mo...
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Danish Gaming Regulator Sanctions Unibet Over AML Violations
Spillemyndigheden, the Danish Gaming Regulatory Authority has sanctioned Unibet for failing to co...
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Dutch Central Bank Strikes Coinbase with €3.3 Million Fine over Anti-Money Laundering Failings
The Dutch Central Bank (DeNederlandscheBank) has charged Coinbase for having ineffective anti-mon...
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ProtonMail added an encrypted calendar to its encrypted Gmail competitor
Previous year Google faced a hefty fine of $170 million by the Federal Trade Commission following...
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Singapore replaces passwords and ID documents with facial recognition systems
As reported by Strait Times, Singapore plans to replace passwords and identity documents with bio...
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IRS Deploys Effective Filters to Detect and Prevent Tax Evasion
The Treasury Inspector General for Tax Administration released an interim filing season report on...
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Rise in Fraud from COVID-19 Bounce Back Loan Scheme
Fraudsters are stealing the money around £400M from taxpayers in the UK through the support loans...
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Clearview AI will be facing the legal claims after critical NYT report
Clearview AI is an artificial intelligence firm providing facial recognition technology to US law...
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Regulators in Hong Kong Urge Banks to Accept Cryptocurrencies
Hong Kong banks are worried about regulatory repercussions for their crypto clients if money laun...
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N1m Fine Imposed on Financial Institutions for Suspicious Transactions Reporting Failing
A fine of N1m is directed by the Nigerian Government on any financial or non-financial institutio...
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Feds Bust Columbian Drug Cartel’s Scheme to Launder “Millions” Through US Banks
A Columbian drug cartel’s scheme was busted by the federal prosecutors who moved millions through...
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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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South Africa Introduces Biometric Child Registration To Stop ID Theft
The Department of Home Affairs (DHA) in South Africa recently introduced a new method of biometri...
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FATF applauds Korea’s AML and CFT efforts
According to the FATF, Korea features a sound legal framework to tackle money concealment and ter...
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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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Janet Yellen, US Treasury Secretary to be, Prioritizes AML Regulations
Janet Yellen, incoming Secretary of the US Treasury has announced that AML legislation is the mos...
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FATF Claims Golden Visa Programs Raise Financial Crimes Activities
The international regulatory body, Financial Action Task Force (FATF), reported that Citizenship ...
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Treasury to Require Car Dealers to Reveal the Identities and Sources of Income of Buyers
The Treasury of Kenya will require car dealers to provide the identities and sources of their inc...
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New York Federal Reserve Sued by Puerto Rican Bank For Blocking Service in Venezuela
A Puerto Rican bank has sued the New York Federal Reserve on 25th July for suspending their acces...
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NatWest Apologises for AML Failures and Issues Warning on Rising Inflation
The chairman of NatWest bank has apologised to shareholders for failing to implement adequate ant...
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Ransomware Targets Outdated Microsoft Excel Macros to Deploy Attacks
Microsoft Security Intelligence notified users of a type of ransomware, called Avaddon, that uses...
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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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