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AML Council Warns Financial Institutions to Strengthen Systems for Effective Money Laundering Prevention
Banks and financial institutions should implement a strengthened anti-money laundering system to ...
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FIU to Audit Crypto Exchanges, Aiming to Reduce Money Laundering
Financial Intelligence Unit under Financial Services Commission to audit Korea’s cryptocurrency e...
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COVID at EURO 2020 Reinforced the Need for Digital COVID Pass
With 2 infected players infiltrating the entire stadium, many are fearing the spread of COVID-19 ...
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Namibia Enhances its National Crypto Strategy with New Legislation
Namibia raises the bar with new legislation in the National Crypto Strategy to combat crypto scam...
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CBUAE Cancels Registration of Insurance Broker for AML Non-compliance
The Central Bank of the UAE (CBUAE) has cancelled Al Fazaa’s registration as an insurance a...
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Global Payments Industry At Risk Due to Cryptocurrencies, Says FinTech Boss
According to the boss of New York based investment banking company, Goldman Sachs, Cryptocurrenci...
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ICO Warns Public Bodies Over Failure to Respond FOI Requests
ICO warned public bodies regarding Freedom of Information (FOI) requests failure. Different depar...
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Danish Gambling Operator Reports Tipwin to the Police for AML Failings
Then danish gambling operator Spillemyndigheden has reported Tipwin to the police for violating t...
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Social Media Firms May Face Parallel Regulation – Says Data Protection Authority
Social media platforms approached the I&B ministry citing apprehension that they may face par...
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Cryptocurrency Fraud Reports to UK Action Fraud More Than Double in 2021
The study advises financial regulators to place more pressure on cryptocurrency institutions to c...
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German Watchdog Extends N26 Measures to Prevent Money Laundering
BaFin, the German financial regulator, stated on July 17th, that it was extending its measures to...
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Ireland Campaigns to make Dublin the EU AML Authority Headquarter
A team was established in the Department of Finance by the Irish government to campaign for Dubli...
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US Treasury Hits Bittrex with $53 Million Fine Over Sanctions Violations
The US Treasury Department has imposed a $53 million fine on Bittrex for violating sanctions and ...
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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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FinTech in Malaysia is Improving Due to Friendly Regulations
Malaysia has taken a user-friendly approach to adapt to financial regulations as it is working to...
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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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Bank of Ghana Issues New Guidelines for AML and CTF
The Bank of Ghana (BOG) has introduced new directives on Anti Money Laundering/Combating the Fina...
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CCPA in effect – Mozilla firefox will let users delete their collected data
The California Consumer Privacy Act came into effect on Wednesday, Jan 1. Being obliged by the ne...
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Saudi Arabia Uncovers Massive Fraud worth SR11.5 Billion
Law enforcement authorities in Saudi Arabia arrested at least 32 suspects including businessmen, ...
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FINRA Issues its Examination and Risk Monitoring Program Report 2023
FINRA published its 2023 report on its Examination and Risk Monitoring Program, covering all the ...
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FinCEN Says Russia Cannot Evade Sanctions with Crypto
Global lawmakers are taking a closer look at digital assets and how they can or cannot be used to...
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FinCEN Launches Regulatory Process For AML Regulation on Antiquities
The ANPRM discusses how antiquities trade can be exploited by money launderers and terrorist fina...
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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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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 ...
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Phillippines Added to FATF Gray List Again for Inadequate AML Casino Measures
The Philippine financial system did not comply with international Financial Action Task Force (FA...
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Danske Bank Revamps Compliance Measures After Money-Laundering Scandal
Danske Bank A/S was engulfed by a money-laundering scandal in 2018 among other banks in the Nordi...
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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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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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Lebanon Central Bank Denies Money Laundering Allegations and Embezzlement Charges
The governor of the Lebanese central bank appeared in the first court hearing on the premise of s...
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China Enhances AML Obligations to Combat Money Laundering
Chinese authorities have released the latest guidelines to enhance security in the financial sect...
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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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Italy Launches Money Laundering Investigations into Qatargate Associates
Italian prosecutors have launched a probe related to the EU parliament Qatargate affair as a new ...
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Norway’s DNB is Facing a Possible Fine of $45M for Poor AML Compliance
Norway’s leading bank, DNB ASA, faces the possibility of a $45 million penalty for its inadequate...
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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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FATF issues new guidance on Digital Identity systems
A guidance paper has been issued by the Financial Action Task Force (FATF) to assist governments,...
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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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UAE Issues Updated Targeted Financial Sanctions Guidance
The UAE has shifted from the multilateral United Nations Security Council (UNSC) sanctions to uni...
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FinTech and InsureTech Booms in Israel as $120M Raised for Investments
FinTLV, a fund based in Tel Aviv, has announced that it has collected $120 million worth of funds...
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Cambodia and China Strengthen Ties to Combat Illegal Online Gambling and Scams
China’s Premier Li Keqiang and Cambodia’s PM Hun Sen have given a green signal to strengthen thei...
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US drug agency failed to properly oversee crypto investigations
It was published in the IG report, which is an audit of “income-generating, undercover operations...
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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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Hong Kong Authorities Warn Unregistered Virtual Assets Platforms May Face Large Fines and Imprisonment
On August 7th, the Hong Kong Securities and Futures Commission (SFC) warned all platforms working...
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UK’s AML Regulations for Art Market Excludes Art Creators
The UK to implement new Anti-Money Laundering regulation to cover the art market from 10th June 2...
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Qatar Takes Steps to Strengthen its AML/CFT and Sanctions Compliance
A webinar organised by ICC Qatar emphasised the efforts of Qatar to strengthen its AML/CFT and sa...
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UAE to Include Crypto Framework in their 2021 Business Agenda
The financial watchdogs in the UAE are looking towards developing a detailed crypto framework in ...
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FINMA, SFC, and MAS Fine Multiple Financial Institutions Over $1.5 Billion For Money Laundering Activities
FINMA, SFC, and MAS fined multiple financial institutions over $1.5 billion for not complying wit...
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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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Research for Implications of CBDC on the Rise in Australia
As of the November 2 announcement of the Reserve Bank of Australia, the country has partnered wit...
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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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South Africa Gets the Green Signal for New AML/CTF Laws
South Africa has finally gotten a green signal for new finance laws to address shortcomings ident...
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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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Fraudsters Seek Fake COVID Test Reports as New Travel Restrictions Roll Out
As the new travel restrictions are imposed to omit the spread of the coronavirus, the fraudsters ...
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NFIU Increases Efforts to Remove Nigeria from FATF Gray List
The Nigerian Financial Intelligence Unit (NFIU) has stated that it is working towards removing th...
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Man arrested for money laundering offenses related to COVID-19
A 39-year-old Singaporean man has been apprehended for his suspected involvement in money launder...
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Electronics Giant Samsung Confirms a Data Breach Affecting Personal Information of Customers
Samsung announced a data breach involving customers’ personal information, assuring that so...
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Binance Resorts to Shady Crypto Firms as Authorised Options Run Short
Binance, the global crypto exchange leader, retract to shady asset companies as authorised option...
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AUSTRAC Warns Banks Against Closing Accounts of Crypto Traders
AUSTRAC shows full support for the Australian crypto industry and is issuing warnings to banks ag...
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BaFin Imposes $10M Fine on Deutsche Bank for Euribor Control Failing
Deutsche Bank faces challenges as BaFin imposes a 10-million dollar fine for Euribor control fail...
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Homeland Security Wants Facial Recognition For All Entering or Leaving US
The federal government is considering changing airport security in a major way. Facial recognitio...
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11 Arrested for Illegal Offshore and Cross-Border Gambling Activities in Macau
11 people arrested along with businessman Alvin Chau in an investigation of bogus gambling scheme...
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LocalBitcoins Matching Exchange, Cited By U.S. In Bizlato Case, To Shut Down After 10 Years
LocalBitcoins, the crypto firm named by the US treasury in the Bizlato exchange case, has announc...
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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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HMRC Fines Real Estate Agencies £500,000 for Anti-Money Laundering Violations
HMRC has issued a total of £519,645 in fines to 68 estate agents that failed to comply with rule...
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Fintech Requires Tight Controls to Mitigate Data Privacy Risks, Treasury Report
As per the new report by the U.S. Department of the Treasury, Fintech requires tight controls to ...
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African Federal Government Urges Collaboration to Combat Money Laundering and Terrorist Financing
The African Federal Government stressed the urgent teamwork needed to combat money laundering, te...
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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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FATF Issues New BO Requirements to Address Pandora Papers
While addressing the Pandora Papers, the Paris-based global financial watchdog, FATF, has issued ...
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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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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...
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Banks Creating Regulations for the Cannabis Merchants for Better Compliance
Growing and dealing in cannabis was illegal a few years back. However, the medical benefits of ma...
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Internet infrastructure industry plans on ensuring internet trust amidst COVID-19 outbreak
As a global crisis emerges due to the Coronavirus outbreak, and global population practices socia...
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UAE Banks Asked to Strengthen their AML/CFT Measures
UAE financial institutions and the banks are required to prioritize eliminating money laundering ...
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