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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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EU Court of Justice Passes Judgement Against Provision of AMLD5
EU Court of Justice has passed a judgment against the provision of the AMLD5, concluding that pub...
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China plans on introducing digital yuan
China’s central bank has sent one of its strongest signals yet of a commitment to creating ...
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FBI Reveals North Korea’s Lazarus Group Involvement in $41 Million Stake Hack
US Federal Bureau Investigation (FBI) has revealed that the North Korean hacking group, Lazarus, ...
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Canada Faces 400% Increase in the Cryptocurrency Fraud
The Canadian police department is warning people to protect their personal information and perfor...
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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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French Magazine XXI to Reveal ICIJ’s Take on Tax Havens
In an interview with ICIJ, XXI editor David Servenay says that the offshore world is more powerfu...
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South African Government Passes Key AML and CFT Laws to Fight Financial Crimes
South African government passes two significant laws to implement Anti Money Laundering and Count...
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CFTC Fines CHS Hedging for AML and Other Violations
The Commodity Futures Trading Commission (CFTC) has fined CHS Hedging a civil monetary penalty of...
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Europol & Budapest Police Arrest Criminal Group for Laundering EUR 44 Million
The Budapest Metropolitan Police along with Europol have arrested a criminal group involved in mo...
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Canada to Establish Beneficial Ownership Registry to Fight Financial Crimes
The Candian Federal budget has brought good news for the supporters of anti-money laundering. The...
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AFM Fines Robeco €2 Million for AML Compliance Failure
The Netherlands’ financial regulator AFM has fined Robeco €2 million for failing to implement ade...
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Centra Tech’s Operator Sentenced a Year in Prison for ICO Fraud
Robert Farkas has been arrested and charged with the lightest sentenced felony for his part in Ce...
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Germany to Implement the 6th AML Directive to Secure Financial Firms
The Federal Government of Germany has decided to draft a law for money laundering operations. Eur...
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GIABA to Release Liberia’s AML and CFT Compliance Evaluation Report
The GIABA has finally released its findings about Liberia’s gains and challenges in the fight aga...
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Georgia Ramps Up AML Measures to Combat Financial Crime
A new report released by the Council of Europe’s AML body has highlighted Georgia’s progress in c...
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Real Estate Money Laundering Rises, KCB Dragged to Court for AML Breach
Real Estate development and construction company Tirupati Development Limited has dragged KCB Ban...
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World economic forum considers using blockchain to solve supply chain crisis
The World Economic Forum (WEF) stated on Monday that blockchain and digitization can help supply ...
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CSSF Imposed a €226,000 Fine on Maitland Over AML Compliance Failure
Maitland Luxembourg SA received a penalty of €226,000 over anti-money laundering and customer due...
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Google launches a new website to educate people about online scams
Hackers are more active during the COVID-19 outbreak than normal routine, considering which Googl...
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EU Warns About the Impact of COVID-19 on Non-Regulated Crypto Investments
European Union’s financial regulatory agency, the European Securities and Markets Authority (ESMA...
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Failure to Join FATF Will Increase Economic Pressure
According to a top diplomat, Iran’s refusal to comply with the requirements of the Financial Acti...
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FATF Examines Technology use in Making AML/CFT More Effective
FATF has recognized the importance of combining human input and manual review with automation for...
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FIAU Fines Crypto Firm €460,000 for Anti-Money Laundering Violations
FIAU (Financial Intelligence Analysis Unit) charged a crypto exchange and broker with a €463,235 ...
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Australian Government Announces Development of Gambling Regulations Commission
Australian spokespersons for Gambling and Harm Reduction forced the New South Wales (NSW) governm...
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Anti-Money Laundering Rules Hit Backpacker Bank Accounts
Working holiday visa holders have been reported to have difficulty obtaining bank accounts due to...
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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...
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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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ACCC Calls for Heavy Penalties to Make Tech Giants Scam-free
The Australian Competition and Consumer Commission (ACCC) has demanded severe penalties linked to...
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Switzerland Falls Behind in the Fight Against Money Laundering
The Parliament of Switzerland has voted against the requirement of performing due diligence on la...
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Facebook Built a Facial Recognition App To Identify Employees
Facebook is again under fire for its controversial facial recognition technology. The tool used f...
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FATF Highlights the Increasing Risk of Trade-Based Money Laundering
FATF- Financial Action Task Force is warning businesses of the risk they face regarding trade-bas...
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FSA Imposed £247,324 Fine on Standard Bank for “Serious Regulatory Failings”
The Isle of Man Financial Services Authority (IOMFSA) has imposed EUR 247,324 fine on Standard Li...
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Westpac Proven Guilty of Breaching Money Laundering Laws after Commonwealth Bank
Westpac was accused of violating the money laundering laws and counter-terrorism financial allega...
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GIABA to Release Liberia’s AML and CFT Compliance Evaluation Report
The GIABA has finally released its findings about Liberia’s gains and challenges in the fight aga...
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MBSB Bank to Implement BNM’s Requirements for Combating Financial Crimes
Bank Negara Malaysia announced additional security measures for financial institutions to strengt...
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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...
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Video KYC: The New Normal in the Insurance Industry
Since everything is moving to digital platforms, the Insurance Regulatory and Development Authori...
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Chandigarh Cyber Cell Unit Arrested Criminals Involved in Overseas Money Laundering Activities
A gang of a Chinese national and 20 other people got arrested by Chandigarh Police. Investigation...
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South Kesteven Council Strengthens AML Controls for Right to Buy Scheme
South Kesteven council tightened the anti-money laundering controls over questions raised by buye...
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FIU in Sri Lanka Penalises Financial Firms over AML/CFT Non-Compliance
Sri Lanka’s Financial Intelligence Unit (FIU) has recently penalised two financial institutions i...
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UK’s Regulatory Agencies not Coming Slow Against Money Laundering
HM Revenue & Customs carried out an extensive investigation on the UK’s real-estate agencies ...
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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...
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UAE startup relies on Blockchain to flatten COVID-19 curve
In5, UAE based start-up incubator, is assisting to design blockchain-based techniques to suppress...
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The Biggest Software Company in the US under Ransomware Attack on Election Night
Tyler Technologies in Plano, Texas, was under a ransomware attack last week. The company sells so...
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€18 Million of Illicit Cash Flows Undetected Across 25 EU States in Two Weeks
A major customs operation, BELENOS, by the French Customs authorities, has unveiled an illicit fl...
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UAE Grants Russian Lender a Rare Banking Licence to Operate in the Region
The CBUAE has approved a banking licence for Russia’s MTS bank, a move that risks deepening...
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The UAE Has Taken ‘Significant Steps’ in Fighting Financial Crime
UAE authorities have taken “significant steps” to prevent money laundering and other financial cr...
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Reports Reveal NAB Contract Workers Received Little to No AML Training
The disclosure follows AUSTRAC’s recent launch of a formal investigation into NAB earlier this mo...
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Lawmakers Approve Enablers Act Bill to Expand AML Reporting Requirements
A group of lawmakers have approved the revision of America’s money laundering laws after 20 years...
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FCA Fines ADM Investors for Violating Anti-Money Laundering Regulations
The UK regulatory department Financial Conduct Authority (FCA) fined $7.9 million to the commodit...
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Taiwan’s Security Watchdog is Set to Regulate Local Crypto Industry to Prevent Money Laundering
Taiwan’s top financial regulator is set to become the primary oversight body to monitor the...
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President of Argentina Open to CBDC Adoption but Central Bank Says No
Alberto Fernandez, President of Argentina showed openness to adoption of Bitcoin and Central Bank...
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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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FCA Warns Against Unregistered Crypto ATM Use
The Financial Conduct Authority (FCA) has begun taking action against unauthorised crypto ATMs in...
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Cybercrimes in UK have ‘doubled’ in past five years
Large businesses remain most at target but SMBs have seen the steepest rise in successful cyber a...
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Govt assists Struggling Swiss Crypto Valley
Switzerland’s “Crypto Valley” is in talks with the federal government for fixing a 100 million Sw...
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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...
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Regional Watchdog Assesses the AML Protocols Followed by Liberia to Fight Money Laundering
The Financial Intelligence Unit of Liberia has established the Inter-governmental Action Group Ag...
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PSR Orders UK Banks to Reimburse Customers Tricked by Payment Fraud
PSR has advised UK banks to compensate customers who have been the victims by APP (authorized pus...
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Deutsche Bank Pays $130M to Avoid Corrupt Payment Charges
Deutsche Bank, a German investment bank, has agreed to pay the fine of $130 million to settle the...
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FCA Hints Why only 15% of Crypto Firms Received Regulatory Approval
The UK financial watchdog has approved only 41 registration applications of crypto firms out of 3...
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UK’s National Audit Claims FCA Takes Slow Crypto Enforcement Actions
The UK’s National Audit stated that the Financial Conduct Authority (FCA) has all the rights to c...
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Malta Faces 200% Spike in Money Laundering Cases
Financial Intelligence Analysis Unit (FIAU), Malta’s financial regulator, received a 200% increas...
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US Authorities Accuse Russian Oligarch of Money Laundering and Bank Fraud
US authorities have accused Russian oligarch Viktor Vekselberg of conspiring to launder money and...
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The Naivas Data Breach | A Wake-Up Call for Firms to Follow Privacy Laws
Naivas, one of Kenya’s largest supermarkets, recently suffered a data breach, highlighting ...
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Australians Lost a Record Amount of Over $3 Billion to Scams in 2022
The Australian Competition and Consumer Commission (ACCC) revealed that Aussies lost more than $3...
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South Korea Extends AML Compliance Deadline for Crypto Sector
The deadline has been extended to ensure regulators are able to process all the applications subm...
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UAE Deploys Hi-Tech Measures to Combat Money Laundering
The UAE has intensified its measures in the fight against money laundering and terrorism financin...
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MEF Implements New Tax Rules on Commercial Gambling Businesses to Curb Financial Crime
The Ministry of Economy and Finance (MEF) brought about new tax rules on commercial gambling busi...
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UK’s Financial Watchdog Goes Real-time to Catch Online Criminals
The FCA is sweeping the internet on a day-to-day basis to pull out cybercriminals, as the number ...
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US Accuses Crypto Firms for Serving as Money Laundering Hub
The US Treasury’s department targeted the crypto mixers to combat internationally operated financ...
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