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Court Filing Reveals that Hundreds of Roblox users Are Laundering Money Using In-Game Currency
Roblox, one of the popular video game platforms having over 58 million users, is being used to la...
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Bank of England Introduces New Regulatory Approach for Crypto
The Bank of England is formulating the UK’s first regulatory framework for crypto assets and stat...
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South Korea FSC Identifies 14 ‘Fake’ Crypto Accounts Held by VASPs
All crypto accounts in South Korea are directed to register under their real names. Third-party b...
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The SEC Uncovers a Pyramid Scheme and Charges Multiple Individuals
The U.S. regulatory authority SEC uncovered a crypto pyramid scheme that stole approximately US$2...
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US Regulates Art Market as it is at High Risk of Money Laundering
Law enforcement agencies across the globe have turned their attention to the use of high-value ar...
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SRA Fines a Law Firm £14,000 for Breaching ID Verification Regulation
A business organization is being penalized £14,000 by the Solicitors Regulation Authority (SRA) f...
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Hacker steals $250K by exploiting Bitcoin exchange Bisq
A hacker identified a significant software flaw on the decentralized Bitcoin exchange, Bisq, to s...
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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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EU Freezes $130 Million Worth of Assets Linked to Money Laundering in Lebanon
France, Germany, and Luxembourg have seized the properties and frozen assets worth $130 million l...
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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...
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Singapore Central Bank to Utilize AI Technology to Combat Money Laundering
The Monetary Authority Singapore (MAS) seeks to utilise AI technology to bolster the security of ...
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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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Switzerland Ill-Equipped in Fight Against White Collar Crimes: SFAO Report
The Swiss Federal Audit Office investigated Switzerland’s meager protocols against white-co...
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Low-orbit internet banking fraud claim supposed to be a bunch of space junk
A case of supposed low-orbit digital banking fraud has taken a turn, with the US Attorney’s...
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Cryptocurrencies Need Regulation to Prevent Money Laundering, Says Singapore Minister
A panel of regulators and bankers at the World Economic Forum stated that cryptocurrency need to ...
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Japan Launches a Three-Step Plan for Introducing Digital Yen
After the announcement of the Bank of Japan to introduce digital Yen by 2021, the statement by Ko...
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Data Breach Exposes 515,000 IDs, More Cases of Synthetic ID Fraud to be Expected?
Hackers broke into the servers at the International Committee of the Red Cross and accessed perso...
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Japan Calls for Disclosure of Major Company Shareholders
Japan’s Ministry of Justice will require firms to submit details of their major shareholders, als...
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FATF Calls for Tighter Regulations to Fill Voids in Virtual Asset Compliance
The Financial Action Task Force (FATF) highlighted a regulatory gap in the compliance system for ...
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8.3 million users affected in ‘Freepik data breach’
Freepik, a free photo and graphics site, has disclosed a major data breach that affected nearly 8...
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South Africa links fintech startups with financial regulators
South Africa’s financial regulators have initiated the Inter-governmental Fintech Working Group (...
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FCA Unveils Three-Year Anti-Money Laundering Strategy to Curb Financial Crime
The FCA unveiled in its new report a three-year anti-money laundering strategy which includes a n...
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Anti-Money Laundering Assessment of Sri Lanka Expected Shortly by FATF
In a recent statement, President Ranil Wickremesinghe announced that Sri Lanka will begin its nex...
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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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NYDFS Reminds BitLicense Holders to Follow Rules
NYDFS (New York Department of Financial Service) has restated custody and disclosure requirements...
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“Crypto Should Be Regulated, Not Prohibited”, Says ECB Vice President
After his statement in May that declared cryptocurrencies as a risky investment, the Vice Preside...
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Hong Kong’s SFC Plans to Regulate Digital Asset Trading Platforms
Hong Kong’s Securities and Future Commission has proposed strict rules for digital asset exchange...
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Singapore Taking New Actions Against Terror Financing and Money Laundering
Singapore’s Parliament took improved measures against the financing of terrorism and money launde...
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Crypto Adoption on the Rise, PayPal will Offer Crypto Payments in 2021
In the digital era, companies are shifting toward digital means of communication. Banks have plan...
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Rabobank’s Profits Drop Over Shut Down in Russia and Increased AML Costs
Dutch Cooperative Rabobank revealed that its profit plunged more than a quarter in the first half...
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US Financial Authority Removes Provisional Crypto AML Regulations
The United States government removed two provisions from the National Defence Authorisation Act (...
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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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UK Regulators Obligates Crypto Firms to Submit Financial Crime Report
The UK’s financial watchdog, Financial Conduct Authority (FCA) has expanded financial regulations...
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Tesla CEO Elon Musk Accuses SEC of Leaking Information in Federal Investigation
Tesla CEO Elon Musk has accused the SEC of leaking information about a federal investigation as a...
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New Zealand’s FMA Issues New ID Verification Guideline
A new explanatory note has been issued by New Zealand identifying the sources of information that...
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Kuwait Bans Crypto-Related Activities to Combat Money Laundering
The government of Kuwait banned all crypto-related activities on July 18th, including mining, tra...
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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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The UK Law Firms Approve the Use of AI in AML Armoury
The Legal Sector Affinity Group is the governing body of all the UK’s legal regulatory and repres...
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Compliance Specialists Remind Letting Agents to Meet HMRC Deadline
The real estate industry in the UK is being constantly reminded that the deadline for registering...
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Joint ATO Operation Busts $137m Fraud Ring
The Australian Border Force (ABF) and the Serious Financial Crime Taskforce (SFCT) have jointly i...
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US Senators Urge CISA to Incorporate Rules for Ransomware Reporting
US senators have urged the CISA to enforce new ransomware reporting rules amid a sharp increase i...
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Kazakhstan has Improved to Achieve the Lowest Risk Score for ML/TF
According to the annual report of Basel Index 2020, among the 141 countries, Kazakhstan is at 73r...
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Fintrac Warns Casinos of Gamers Paying with Bank Drafts
Canada’s anti-money laundering agency is warning casinos to be cautious of customers who pay for ...
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Regulatory Authorities to File a New Bill to Secure the Citizens from Cyber Criminal Activities
Senator Estrada filed a bill to protect senior citizens unfamiliar with modern technology from cy...
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Uruguay Faces 3 Obstacles in the Fight Against Money Laundering
Uruguay’s national secretariat unit, SENACLAFT, revealed three obstacles in fighting money launde...
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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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Albanian Financial Supervision Authority Approves Crypto Licensing Regime
Albanian Financial Supervision Authority has approved a licensing regime for crypto exchanges for...
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France to Test Digital Currency in the First Quarter of 2020
The digital currency race is building up and every country wants to take part in it. Now, Banque ...
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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...
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Singapore to Strengthen Security Measures Against Phishing Scams
Singapore is taking steps to introduce additional security measures to detect suspicious transact...
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Australia Risks Damage To Economy Unless Money Laundering Laws are Improved
A Senate committee says that Australia is at risk of damaging its economy if money laundering law...
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The UK’s NCA Establishes New Unit to Clamp Down on Corrupt Elites & Money Launderers
The UK’s National Crime Agency (NCA) created a new unit with the aim to target and investigate co...
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Danske Bank Charged with $413m for Defrauding Investors about AML Shortcomings
The Securities and Exchange Commission has charged Danske Bank $413 million for misleading its cu...
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UAE’s AML Body Adopts Regulatory Framework for Virtual Assets
The new rule for virtual assets has been devised in accordance with the crypto travel rule issued...
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UAE’s SCA Works on Virtual Asset Investment Regulations
The United Arab Emirates’ Securities and Commodities Authority (SCA) has said that it is ab...
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Cyprus Securities and Exchange Commission Warns Investing Firms for AML Non-Compliance
The Cyprus Securities and Exchange Commission (CySEC) warned the Cyprus Investment Firms (CIFs) ...
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AUSTRAC Initiates Probe into Sportsbet and Bet365 over Money Laundering Suspicions
AUSTRAC launches investigations into gambling firms for suspicions of failing AML/CFT compliance,...
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Danske Bank Charged with $413m for Defrauding Investors about AML Shortcomings
The Securities and Exchange Commission has charged Danske Bank $413 million for misleading its cu...
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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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EU Proposes New AML Agency For Addressing Money Laundering
The EU document has been proposed to introduce tough action against money laundering in the regio...
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FinCEN Warns Banks of Potential Russian Sanctions Evasion
The Financial Crimes Enforcement Network (FinCEN) has warned banks of possible suspicious practic...
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e-KYC services introduced in Malaysia by InstaREM
Residents and expatriates in Malaysia can now make overseas payments safely and regularly through...
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California to Legislate Stronger Children’s Online Safety Bill
Assembly Bill 2273 for children’s online safety and privacy was approved by lawmakers in Ca...
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TD Banking Group Expects US Penalties for Money Laundering
TD Banking Group disclosed that they expect fines and non-compliance penalties related to US auth...
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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 ...
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Binance’s Regulatory Setback in Singapore Shifts Attention to Middle East
Binance, the world’s largest cryptocurrency exchange, withdrew its application for licence in Sin...
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Over $1 Billion Laundered Through Australia’s Pubs and Clubs Annually
A joint report by media outlets has shown evidence of over AU$1 billion being laundered throughou...
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Crypto exchange owner admits laundering $1.8M in online auctions fraud
Vlad-Calin Nistor and 14 other accused, including the owner of a car wash, have all entered guilt...
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Singapore Passes Stringent Regulations to Clamp Down on Money Mules
Singapore has passed stringent regulations to clamp down on money mules and those who give contro...
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Google to Improve its Compliance Program After BTC-e Data Loss
Google has committed to strengthening its legal compliance program after losing data linked with ...
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Australia introduces new rules to tackle mobile identity theft
Acma (Australian Communications and Media Authority) has introduced a new regulation to fight ide...
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Austrian Gamblers Struggle to Recoup Money from Illegal Betting Sites
Austrian gamblers struggle to recoup money from illegal betting sites after gambling groups face ...
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