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Over 6000 BVNs Under Scrutiny for Fraudulent Transactions, Reveals CBN
The Central Bank of Nigeria (CBN) has revealed that more than 6000 Bank Verification Numbers (BVN...
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Shufti Introduces Digital COVID Pass for COVID Test Verification
Shufti has launched a Digital Covid Pass solution to promptly verify the COVID PCR-test repor...
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SEC Unfolds Strict Regulations to Prevent Financial Crimes in Stock Market
SEC (Securities Exchange Commission) is to implement tough regulations to prevent money launderin...
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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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EU’s decision to ban Facial Recognition for five years divides the tech giants
Facial recognition is emerging as a conflicting technology causing key disagreement among the wor...
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Austrac Warns of Money Laundering Risks Unless More Prosecutions are Conducted
Austrac has warned the law enforcement agencies in Australia that they must conduct more money la...
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Binance Pulls Out its Rival Exchange Huobi from Money Laundering Attempt
Binance helped its rival crypto exchange, Huobi Global, recover the amount taken in a bridge expl...
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FATF Urges Member Countries To Lead by Example in Implementing Travel Rule
The global financial watchdog FATF has urged countries to implement the travel rule in the legisl...
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Alfa-Bank to Offer Blockchain-Based Services for the Self-Employed People and Freelancers
Alfa-Bank is one of the largest private commercial banks in Russia which is exploring blockchain-...
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Brazilian Police Block Crypto Assets Due to Suspected Fraud
Brazilian police have requested the court to block the virtual assets of suspected digital tradin...
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El Salvador’s Adoption of Bitcoin as Legal Tender Raises ML/TF Risks
El Salvador has become the first country to accept Bitcoin as a legal tender.
On 8 June 2021, El...
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AUSTRAC Partners With UK Counterpart to Fight Fraud
The financial intelligence agency has announced AUSTRAC has entered a new partnership with a UK c...
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Germany to Establish New Regulatory Body to Combat Money Laundering
It has been reported that the German government will create a new regulatory body to combat money...
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China Pledges “Zero Tolerance” for Financial Fraud
Top financial regulators in China pledged to introduce stricter controls following the recent dis...
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Face Detection Tool to Fight Bots Under Trial by Facebook
Facebook is currently battling a $35 billion class-action lawsuit for alleged misuse of facial re...
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Identity Thieves on the Hunt for Universal Credit Payments
The UK’s Department for Work and Pension (DWP) has been warning people for not repaying for the b...
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WHO launches blockchain platform to fight COVID-19
On March 28 the World Health Organization (WHO) collaborated with major blockchain and technology...
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FEMA Confirms Seizure of 288 Crore Funds of Chinese-owned NBFC
The FEMA has confirmed the seizure of 288 crores worth of funds of a “Chinese-owned” ...
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Tesla Data Breach Leaks Personal Information of 75,000 Customers
Confidential data of approximately 75,735 people, including names, cell phone numbers, and addres...
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FinCEN Highlights That AML/CFT Regulation Requires Transformation to Fight Modern Crimes
The acting director of FinCEN has highlighted the fact that the existing AML/CFT regulatory frame...
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Lawyers in Malta Lag Behind in Complying with AML Measures
Malta obliged the various sectors to comply with risk assessment measures. According to the Finan...
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BBB Warns About the Potential Scams Fuelled by the COVID Vaccine Passports
As people around the world are increasingly becoming vaccinated, the concern about the vaccine pa...
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Gaming & Investment Firms in Malta Penalised with €4.6M for AML Failures
The financial intelligence Analysis Unit has issued an annual report that shows that the total fi...
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UK Issues Crypto Framework for ICOs, Stablecoins, Exchanges and Regulators
The report covers crucial aspects of crypto regulation, aiming to foster growth in the sector wit...
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United States Senate, UAE Government, and Spain Make Significant Efforts to Curb Money Laundering and Terrorist Financing Activities
United States Senate, UAE Government, and Spain Take effective measures to amend current Anti-Mon...
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Paramount and Forever 21 Data Breach Exposes Thousands of Customer’s Personal Details
The significant media house Paramount Global and the renowned fashion supplier, Forever 21, have ...
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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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China Strides Forwards with New KYC Rules to Rein Money laundering
China is stepping up to fight its long-running battle against financial crimes such as money laun...
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UK Parliament Legislates New Digital Identity Verification Services Bill
On Wednesday, in the King’s Speech, the UK government presented a new Digital Identity Verificati...
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Credit Suisse Held Accountable for Money Laundering in Swiss Cocaine Cash Case
Credit Suisse was declared guilty by the Swiss Federal Criminal Court of deficient measures again...
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Guyana Holds US-Sponsored Conference to Examine Asset Recovery and Money Laundering Issues
The Judiciary of Guyana organised a two-day conference in collaboration with the US Department of...
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China’s Financial Watchdogs All Set to Regulate FinTech Sector
China’s four years regime to clear all risks from the financial system have been extended to the ...
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SFC Finalizes Consultation Conclusions on AML Guidelines
Updated AML/CFT guidelines are expected to come into effect from 30 September 2021, except for th...
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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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Egypt Government to Establish Central Bank Unit for AML and CFT
On Wednesday the cabinet approved a draft law amending some regulations within the Anti-Money Lau...
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WhatsApp Introduces Fingerprint Authentication For Android
WhatsApp has recently announced that its app can be locked with a fingerprint, now available on A...
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Scammers Set to Defraud this Holiday Season, FBI Warns!
This holiday season, New Mexican shoppers are at risk of facing scammers. Criminals are all set t...
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BPI Crackdowns on Money Mules to Secure Financial Institutions
The Bank of Philippine Islands (BPI) was flagged on Wednesday as it was suspected to be involved ...
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Money Service Businesses Tighten AML/CFT Measures Amid Challenges
Microfinance firms, remittance services, and cambios have reported success in upgrading AML/CFT m...
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Feds Uncover $12M Money Laundering Operation Between U.S. and Dubai
Prosecutors have uncovered a money laundering scheme dubbed “The Shadow Exchange” worth USD 12 mi...
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CBN, NFIU to Monitor Illicit Crypto Transactions in Centralized Exchanges
The CBN and NFIU have been urged to track illicit transactions in cryptocurrency by engaging with...
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One in Three Western Australians Experience Financial Frauds – Bankwest
Based on reports, every one in three residents of Western Australia has experienced financial abu...
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Capital One Penalized $390M for ‘Willful’ Violation of the Bank Secrecy Act
Financial Crimes Enforcement Network (FinCEN) has imposed $390 million as penalty on Capital One ...
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MFSA Tightens Financial Regulations for Lawyers, Auditors, and Accountants
Professionals in Malta, lawyers, accountants, and auditors, etc. are resisting the new rules that...
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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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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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UK Issues Crypto Framework for ICOs, Stablecoins, Exchanges and Regulators
The report covers crucial aspects of crypto regulation, aiming to foster growth in the sector wit...
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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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Binance Pulls Out its Rival Exchange Huobi from Money Laundering Attempt
Binance helped its rival crypto exchange, Huobi Global, recover the amount taken in a bridge expl...
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National Assembly Passes Revised AML Law and Thrift Practice Resolution
The National Assembly (NA) has passed the revised law on Money Laundering Prevention and Control ...
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Coinbase Agrees to $100Million Settlement with NYDFS for AML Violations
Coinbase, The American cryptocurrency exchange platform, has agreed to pay $100 million in a sett...
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MENAFATF Adopts Abu Dhabi Recommendations to Counter Money Laundering and Terrorism Financing
An international group based on the FATF format, MENAFATF, has adopted the Abu Dhabi recommendati...
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First Canadian bank introduces digital ID verification
Digital Identity is progressing in Canada, with a new bank account opening process backed by digi...
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US DOJ Stresses Disclosure of Beneficial Ownership Information to Curb Illicit Finance
The US says that it is important for countries and governments to embrace a policy of disclosing ...
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FCA Fines Nigeria’s Guaranty Trust Bank Over AML Control Failures
The (FCA) Financial Conduct Authority has charged 7.6 million pounds ($9.3 million) to the UK sub...
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OCBC Fines Money Laundering Suspect $19.7million
The Oversea-Chinese Banking Corporation (OCBC) has fined the individuals involved in Singapore’s ...
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UAE Establishes Anti-Money Laundering Bodies to Enhance Global Monitoring
The United Arab Emirates is enhancing its money monitoring system to combat illicit cash flows, m...
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Nepal Approves Anti-Money Laundering Bill to Comply with International Standards
Nepal endorsed an anti-money laundering bill as the initial step to combat financial crime and en...
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Google Warns 12,000 Victims of Government Hacks
In just three months, from July to September 2019, Google sent out 12,000 warnings to people who ...
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Australian Government Introduces $800 Million Budget for New Technology and Expands Digital Identity Checks
The Morrison government has announced an $800 million budget for expanding digital identity check...
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US Rated as The Most Secretive Financial Jurisdiction in the World
The US has been ranked the most secretive financial jurisdiction in the world due to deterioratio...
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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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AUSTRAC Has Published a New Guidance For Detecting “Cuckoo Smurfing”
AUSTRAC’s guidance offers indicators for financial institutions, to allow them to detect suspicio...
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Gambling Commission Fines Entain £17m for Social Responsibility & Anti-Money Laundering Failures
Ladbrokes owner Entain has been fined £17m by the Gambling Commission for social responsibility a...
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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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Bitcoin ATMs face stricter regulations over money laundering
According to experts, Bitcoin ATMs (BATMs) will face stern regulations globally, with countries s...
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Coinbase Attorney Urges SEC to Announce Crypto Rules
Coinbase’s attorney forced the Securities and Exchange Commission (SEC) to announce a trans...
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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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US Justice Department Helps Brazilian Government to Seize $24 Million in Crypto Fraud
An official request from the Brazilian government was made to the US government for helping to se...
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UAE Delegation to Visit the US to Discuss AML Initiatives
The UAE and the US put forward their efforts to minimize the risks associated with virtual assets...
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Binance revokes Upbit hackers’ attempt to launder stolen funds
At just after 16:00 UTC Wednesday, bot Twitter account Whale Alert notified Binance – which has e...
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“Steer Clear Of Online Shopping Fraud This Holiday Season”, Says Victor Fredung
Following the FTC’s statement regarding online shopping fraud, Shufti’s CEO Victo...
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