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Turkey to Face FATF’s Gray List Over Inadequate AML Practices
FATF is set to grey list Turkey over AML shortcomings, a move that is likely to affect the countr...
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UK and UAE Take Steps in Joint Efforts to Combat Money Laundering
In the UAE-UK Partnership to Tackle Illicit Financial Flows, the two countries are in talks about...
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Tech Analysts Say Elgin Data Breach May Prove “Devastating” for Those Vulnerable to Identity Fraud
Technology experts raise questions about the lack of transparency of the municipality in dealing ...
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EU Parliament Approves More Stringent Rules to Combat Money Laundering and Terrorist Financing
The latest EU Parliament vote approves the formation of a new anti-money laundering authority and...
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The UAE Central Bank Revokes Dirham Exchange’s Licence for AML Misconduct
Dirham Exchange, an exchange house based in the UAE, has had its licence revoked by The UAE Centr...
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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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FCA Puts its Foot Down Against Money laundering in Banking Sector
Financial Conduct Authority, FCA, is taking action against money laundering in the banking and fi...
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UAE Imposes Strict Penalties for AML and CFT Failings
The UAE is set to be removed from the FATF’s Gray List in the upcoming year as it substantially i...
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ICC Qatar is going to have a seminar on money laundering and terrorist financing
The International Chamber of Commerce (ICC) Qatar is conducting a compliance awareness seminar on...
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RBI Gives Stark Warning Against Emerging KYC Fraud
RBI states that sensitive details should not be disclosed via unverified or unauthorised channels...
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Homeland Security expects to have biometric data on nearly 260 million people
The US Department of Homeland Security (DHS) will soon have face, fingerprint and iris scans of a...
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Amendments to ‘Trust Property Control Act’ May Still Require Revisions
FISA (Fiduciary Institute of Southern Africa) and other notable trust law experts have expressed ...
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Singapore Plans to Amend Laws to Arrest Money Mules Facilitating Scams
Singapore authorities have decided to amend laws for prosecuting money mules facilitating financi...
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Hacker Group Profited $7M in Crypto by Selling Stolen Credit Cards
A hacker group “Keeper” developed an interconnected network of over 570 eCommerce sites to steal ...
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Morocco’s Parliament Unanimously Approves the Bill to Amend AML Regulations
The House of Representatives of Morocco has unanimously agreed to pass the bill to amend the anti...
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Netflix users targetted by scammers during COVID-19 outbreak
According to a security company, Scammers are increasingly using the likeness of online streaming...
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Sweden Points Out the Rising Cases of Money Laundering in Gaming Industry
Financial Police of Sweden has revealed a report that highlights more than 700 cases of money lau...
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Japan Revises Six Laws to Tackle Money Laundering in Cryptocurrency
The Japanese government is pondering enacting a new law. The “bundling bill” proposed...
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US Department Of Justice Announces Enforcement Actions to Regulate Cryptocurrency
The US Department of Justice (DOJ) announced several enforcement actions against cryptocurrency a...
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Pandora Papers Highlight ‘Gatekeepers’ of Black Money, says EU Financial Watchdog
The new report of MONEYVAL offers a diminishing rebuke across European governments that are unabl...
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Economic uncertainty ‘a breeding ground for fraud and financial crime
The FATF has warned that the Coronavirus outbreak has caused unparalleled challenges in the econo...
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Facial Recognition Market to Grow 12.5% Annually Through 2024
According to a new report by Mordor Intelligence, the facial recognition market is expected to gr...
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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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Moroccan Charity, Najiba Foundation, Faces Account Termination by ING Bank for AML Failures
Internationale Nederlanden Groep (ING) wants to terminate one of the largest Moroccan charity fou...
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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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Singapore’s Regulatory Authority Fines US$1.7M to Resorts World Sentosa for Due Diligence Failure
The gambling operator, Resorts World Sentosa (RWS), was fined by Singapore’s Gambling Regulatory ...
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ACMA Introduces New Policies to Combat SIM-Swapping Scams at Telcos
New policies have been introduced by ACMA to prevent SIM-Swapping attack for Telcos to protect us...
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Malta’s Justice Minister Ammends Legal Framework to Lighten Financial Crime Proceedings
Malta’s Justice Minister announces amendments in the court proceedings for financial crimes...
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AMLC Proposing Strict Monitoring Measures for FX Trading To Tackle Money Laundering
The AMLChas increased the monitoring process on FX declarations. All the inbound and outbound cha...
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Qatar to Develop National Strategies for Combating Financial Crimes
Qatar has developed vigorous strategies to combat expected financial crimes during the FIFA World...
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Five Kenyan banks fined under AML laws
Five commercial banks were imposed a fine of $3.75 million in Kenya for failing to report suspici...
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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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Canada Financial Crimes Agency Questioned on Effectiveness of Anti-Fraud Measures
Anti-fraud experts are reporting concerns regarding the Liberals’ newly announced Canada Financia...
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Moroccan Charity, Najiba Foundation, Faces Account Termination by ING Bank for AML Failures
Internationale Nederlanden Groep (ING) wants to terminate one of the largest Moroccan charity fou...
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UAE Imposes Fines Exceeding Dh115 Million to Combat Money Laundering in Q1 of 2023
The UAE has imposed a monetary penalty of Dh115 million ($31.3M) in the first quarter (Q1) of 202...
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South Korea Seizes $47M Worth of Crypto from Tax Evaders
South Korean officials have seized $47 million in cryptocurrency from 12,000 individuals accused ...
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Reddit follows Facebook suit and bans impersonation on its platform
Earlier this week, Facebook announced its new policy to ban manipulated pictures and videos known...
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FATF Discloses Outcomes of October Plenary Meeting
The international regulatory authority, Financial Action Task Force (FATF), concluded its fourth ...
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MP Calls in For UK’s Defences in Opposition to “Dirty Money” Overrun
The cross-party group of MP declares UK defences in becoming the “jurisdiction of choice for dirt...
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Council of Europe Urges Montenegro to Step Up AML Measures
The Council of Europe stated in a recent report that Montenegro lacks sufficient measures to inve...
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RBI to Strengthen KYC Guidelines for the Crypto Industry
IndiaTech has suggested enhancing the KYC guidelines and obligating the cryptocurrency industry t...
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DOJ Arrested Three Individuals In A $722 Million Cryptocurrency Ponzi Scheme
The Department of Justice arrested three men on Tuesday, December 10, on charges of running an el...
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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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Founders of BitMEX Penalised for Their Inefficacy in Preventing Money Laundering
Arthur Hayes, Benjamin, Delo, and Samuel Reed – the co-founders of BitMEX charged for viola...
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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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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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NDAA Passed to Strengthen the Financial Crime Monitoring in the USA
The House of Representatives has passed the National Defense Authorization Act to strengthen the ...
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Medical Testing Postpones Money Launderer’s Sentencing
The conviction of Mark Scott, a licensed advocate involved in laundering $400 million for the unp...
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Shufti’s Age Verification Solution Approved by KJM
Germany’s Commission for media, Kommission für Jugendmedienschutz (KJM), has approved Shufti’...
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FATF Discloses Outcomes of October Plenary Meeting
The international regulatory authority, Financial Action Task Force (FATF), concluded its fourth ...
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FATF Updates Guidance on Strengthening Beneficial Ownership Information
The Financial Action Task Force (FATF), in recommendation 24, established the first international...
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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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Crypto Exchange Binance Banned by UK’s Financial Watchdog
Britain’s financial regulator, the FCA (Financial Conduct Authority) has said that Binance is no ...
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FIU Highlights the Risks of Money Laundering in Estonia Due to VASPs
FIU has highlighted in its annual report the risk of money laundering and terrorist financing in ...
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European Banking Authority Publishes Final Guidelines on Remote Customer Onboarding
The European Banking Authority (EBA) has issued its final policies on remote customer onboarding ...
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HM Revenue & Customs (HMRC) Fines Property Firms Over £1 Million for Money Laundering Violations
HM Revenue & Customs has fined property firms more than £1 million for not complying with ant...
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FATF International Cooperation Review Group Meet in Mauritius to Discuss UAE’s Position on the Gray List
Despite ongoing financial crime, the US and several other Western countries have paid no heed to ...
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OFAC Sanctions Cryptocurrency Mixing Service for Allegedly Sourcing Money Laundering
OFAC has imposed economic sanctions on cryptocurrency mixing service Tornado Cash for allowing cu...
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Gary Gensler- Former CFTC Chair to Join President-Elect Biden’s team as Financial Expert.
A crypto-savvy and a CFTC (Commodity Futures Trading Commission) chair from President Obama’s gov...
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FATF Updates on South Africa’s AML Compliance Progress
A report on South Africa’s progress in implementing AML procedures to prevent money launder...
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FINTRAC Issues Alert on Money Laundering from Illegal Wildlife Trade
FINTRAC, in collaboration with the Project Anton team, issues an alert on money laundering procee...
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Money Laundering Via Trade Has Drastically Fallen, Says Association of Bankers Bangladesh
On May 22nd, the Association of Bankers, Bangladesh (ABB) reported that trade-based money launder...
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A Treasury Unit to Enforce New Anti-Money Laundering Laws in the US
A small bureau of the U.S Treasury Department will take a lead, over the next year, in filling ou...
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Ransomware attacks three US universities
A ransomware group has successfully stricken three universities within the week. They claim that ...
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U.S. Schools and Colleges Witness a Rise in Data Breaches
Data breaches and cyberattacks continue to grow and now targeting the education sector. Amid the ...
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The Rise of FinTech Services can Spur Financial Risk: Says U.S. Bank Regulator
According to the US bank regulator, banks and the fintech alliance for a seamless customer experi...
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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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UAE Adopts Facial Recognition for ID Verification Instead of Emirates ID Card Readers
Facial recognition instead of Emirates ID card readers will now verify identity.
The Federal Auth...
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GFI Study Reveals Weak AML/CFT Measures in Latin America and the Caribbean
The latest study by Global Financial Integrity (GFI) revealed that the Caribbean and Latin Americ...
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Facial Recognition Market to Grow 12.5% Annually Through 2024
According to a new report by Mordor Intelligence, the facial recognition market is expected to gr...
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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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Bank of Lithuania Revokes License of UK Payments Firm for AML Failures
Transactive Systems Ltd., which processed more than €1 billion of payments every month, has had i...
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