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Kuwait’s Largest Money Laundering Lawsuit, The Malaysian Fund Case Comes to An End
Kuwait’s criminal court has put an end to the largest money laundering case by ruling the family ...
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EU Watchdog Takes Deep Dive Into Banks’ Use of Technology
EU’s banking watchdog has recognized the need for RegTech solutions and proper regulatory standar...
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FATF Urges Qatar to Increase its Efforts Against Money Laundering
A recent FATF evaluation of Qatar’s anti-money laundering procedures says local regulators must w...
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FinCEN and OCC Fine Texas Bank $9 Million for BSA-AML Violations
A Texas community bank was fined by the Financial Crimes Enforcement Network (FinCEN) and the Off...
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China Postpones New AML Rules Amid Privacy Concerns and Pushbacks
China has delayed the introduction of new rules for due diligence as financial institutions requi...
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Brazil to Become a Part of OECD and Plans to Launch IPO for Its Digital Bank
During a virtual event on Tuesday, Paulo Guedes, Brazil’s Minister of Economy, announced that the...
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Danish Gaming Regulator to Support the Ministry of Justice’s National AML Strategy
Denmark promises to crackdown on money laundering activities across the nation with a new AML str...
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Cambodia’s Presence on The Global Watchdog’s Hit List is a Threat to Country’s Reputation- States Deputy PM
Due to the enhanced ratio of financial crimes and human trafficking in Cambodia, the deputy prime...
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SFMS Reports Blocking Russian Crypto Exchanges
Ukraine’s financial monitoring agency has restricted access to several online crypto exchan...
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Biden’s Administration Announces New Timeline for AML Initiative and Beneficial Ownership Rules
FACT’s anti-money laundering efforts are updated in the Biden Administration’s Spring 2023 Regula...
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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 Treasury Department Introduces Beneficial Ownership Reporting Form to Enhance AML Measures
The US Treasury Department designed a beneficial ownership report form to strengthen the security...
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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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Crypto Services Approved Under AMLD5 Regulations by the Dutch Central Bank
De Nederlandsche Bank NV (DNB) has permitted AMDAX BV the Central Bank of Netherlands to operate ...
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West Midlands Lose Approximately £8 Million to Employee Fraud in 2022
Business advisors RSM UK has revealed West Midlands as a hotspot for employee fraud. The region h...
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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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China Extends the Regulatory Crackdown to the Fintech Giants
The financial watchdogs in China are rolling out new legislative measures to restrict the finance...
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Economic & Financial Crime Bureau Gets Legal Powers as an Independent Authority
The Economic & Financial Crime Bureau and Financial Intelligence Unit [Bailiwick of Guernsey]...
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South Korea to Crush Crypto Ignited Illicit Activities
South Korea has announced to eliminate all cryptocurrency-related illegal activities including mo...
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UAE Levies Charges Over DH115 Million to Combat Money Laundering
A total of Dh115 million ($31.3 million) has been fined by the UAE in its efforts to impede money...
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The UAE and Malta Organise a Joint Workshop to Share AML/CFT Knowledge & Experience
The UAE and Malta organised training workshops between 12-15 June to strengthen cooperation and c...
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Swedbank cuts former CEO’s Golden Parachute over Money-Laundering
STOCKHOLM – Swedbank has canceled the severance pay of former CEO, Birgitte Bonnesen after ...
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EU Watchdog Takes Deep Dive Into Banks’ Use of Technology
EU’s banking watchdog has recognized the need for RegTech solutions and proper regulatory standar...
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North Korean Hackers Attempt to Launder ETH Worth $27M from Harmony Bridge Attack
North Korean hackers behind the Harmony Bridge attack continue to attempt to launder crypto funds...
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Crypto Bank Anchorage Has Inadequate AML Measures, Says US Federal Regulator
A US federal regulator has said that the first federally-chartered digital asset bank Anchorage D...
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FINRA Issues Guidelines Regarding Penalties for Anti-Money Laundering Violations
FINRA has issued its first-ever guidance to its member broker-dealers about the penalties that wi...
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2021 to Set New Record for Most Data Breaches in a Year
Studies have shown a staggering 1,291 data breaches till the end of September this year, exceedin...
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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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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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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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Brazil to Adopt Tougher Penalties to Curb Money Laundering via Digital Currencies
The fine for digital currency money laundering in Brazil is set to be raised to two-thirds of the...
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G-20 impels countries to adopt tough FATF Regulations on Cryptocurrencies
Bankers and finance ministers in the G-20 (Group of Twenty) are urging for greater acceptance of ...
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FATF Removes Cayman Islands and Panama From Increased AML Monitoring List
In the last plenary meeting of the Financial Action Task Force (FATF) on October 27th, the Cayman...
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Enhancing Transparency and Beneficial Ownership in the Fight Against Trade-Based Money Laundering
Criminals use trade-based money laundering (TBML) to move illicit money across jurisdictions. TBM...
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Personal Privacy Concerns Raised over FinCEN’s Proposed Crypto Rules
The advocacy group in their latest comment has disregarded the proposed regulatory requirements b...
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Skyrocketing NFT Sales Raise Concerns for Tax, Law Enforcement
Last month, the sales for a digital art piece was surprisingly high and raised many questions for...
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New Bitcoin scam hits Canada
According to a report, a supposed Bitcoin (BTC) scam is now targeting residents of Winnipeg, Cana...
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Amended Secrecy Law to Help Philippines Exit the Grey-List
The Philippines has proposed amendments to the Banking Secrecy Law to regulate financial accounts...
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FATF to Blacklist Uganda Over Money Laundering
The Executive Director of the Finance Intelligence Authority, Sydney Asubo stated that the FATF h...
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Swiss Government Gears Up to Establish a Central Registry for Beneficial Ownership
The Swiss government plans to set up a central registry for beneficial ownership, a step that ind...
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Pakistan Launches Contactless Biometric Verification for Banking
Pakistan has become one of the first countries in the world to implement biometric verification t...
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Thousands of NSW driver’s licenses exposed online in a data breach
Last week, tens of thousands of NSW driver’s licenses were left exposed online. The breach was ac...
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Money Laundering Ring Pushed $4bn through 60 HSBC Accounts within 2 Years
60 HSBC accounts were used to launder USD 4.2 billion in Hong Kong.
An investigation carried out...
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G20 Summit Agrees to Establish a Unified Global Crypto Framework to Prevent Digital Money Laundering
The G20 Summit signed to establish a global unified regulations framework to regulate digital tra...
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Department of Finance Announces Commencement of South Africa’s New AML/CTF Laws
Department of Finance has announced the start date for South Africa’s new Anti Money Laundering a...
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E-krona – Rising Cashless Sweden Sights Virtual Currency
Less than 10% of all transactions are done with cash in Sweden, according to an analysis by its c...
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Interpol Warns of the Rise in Romance Scams as Valentine’s Day Approaches
According to the Interpol, there is a new investment scam on the rise that is targeting the datin...
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Twitter Breach – Bitcoin Scams to the Next Level
A massive attack is reported on Twitter accounts of high-profile and well-recognized brands. Hack...
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UAE Central Bank to Take Action Against Unregistered Hawala Operators
From 2nd December 2020, the Central Bank in UAE will begin taking action against the unregistered...
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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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US Infrastructure Bill Eyes on Introducing Stringent Crypto Provisions
The infrastructure bill proposed in the US Congress aims at revamping how crypto exchanges perfor...
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14 Arrested in Money-Laundering Crackdown, Over HK$300 Million Seized
Hong Kong police carried out a crackdown on money laundering groups, 14 arrested and HK$300 milli...
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Jamaica Nears Full Compliance by Meeting 37 of 40 FATF Recommendations
Jamaica now complies with 37 out of 40 FATF recommendations for better prevention of financial cr...
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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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BSP Warns Play-to-Earn Gamers about Potential Illicit Activities
Online gaming platforms should employ KYC verification processes to make payments more secure.
T...
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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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British Columbia Makes Regulatory Change to Combat Money Laundering
The British Columbia government is providing the gambling regulator of the province more independ...
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AUSTRAC to Update Guidance for Threshold Transaction Reporting
AUSTRAC has made it mandatory for reporting entities to include a threshold transaction report (T...
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Fraudsters are all set to exploit Black Friday sales. Beware!
Criminals are aware that at this time of the year, shoppers are looking for discounted deals and ...
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Hong Kong Looking to Legitimize Crypto Trading for Retail Investors
The government of Hong Kong has been looking at whether to legitimize crypto trading for retail i...
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Biden’s Administration Announces New Timeline for AML Initiative and Beneficial Ownership Rules
FACT’s anti-money laundering efforts are updated in the Biden Administration’s Spring 2023 Regula...
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Japan Crypto Regulator States Easing of Restrictions Must Wait
The Japanese financial regulator FSA is reluctant about easing regulatory requirements for the cr...
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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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$8 Million Worth of Crypto Stolen From BitKeep Wallets
Cryptocurrencies worth $8 Million, including Binance Coin, Tether, Dai, and Ether, were stolen fr...
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The third man involved in ID theft scheme and money laundering is sentenced to jail
Minnesota man among the three criminals involved ID theft scheme and money laundering has finally...
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FATF Issues Guidance for AML/CFT Digitization of FIUs
FATF published a report in collaboration with the Egmont group discussing why and how FIUs should...
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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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“Online Trading Platforms to Become a New Hub for Investment Scams” Warns FCA
FCA warns that investment scams are increasing in the UK via online means of trading platforms an...
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FINMA Penalizes Swiss Bank over Money Laundering of $78 Million
The Swiss regulatory authority, FINMA, initiated a lawsuit against the senior management at Juliu...
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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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South Korea to Penalize the Non-Compliant Crypto Companies
Financial watchdogs in South Korea have announced regulations to prevent financial crimes in the ...
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US DOJ Arrests Two in Alleged NFT Money Laundering, Rug Pull Scheme
The US Department of Justice has arrested two in a $1.1 million non-fungible token fraud and mone...
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