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South Africa Introduces Biometric Child Registration To Stop ID Theft
The Department of Home Affairs (DHA) in South Africa recently introduced a new method of biometri...
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HSBC Bank SMS Phishing Scam Targets UK Victims
A new phishing scam, designed to lure victims into handing over their HSBC bank account details, ...
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Singapore, Cyprus, and the US Expedite Efforts to Combat Financial Crimes Effectively
Singapore, Cyprus, and the US are stepping up their efforts to curb financial crimes while aiming...
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EU Fines Hungary for Declining to Lift Restrictions on Foreign Funded NGOs
European Union, in Brussels, took an important step to penalize Hungary for not lifting restricti...
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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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U.S Congress Suspects the Use of Bitcoin to Fund Domestic Terrorism
U.S Congress subcommittee worries that Bitcoin might have been used in funding the Capitol revolt...
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European Central Bank’s President Calls for Strict Bitcoin Regulations
The president of the European Central Bank, Christine Lagarde, says that bitcoin is a “funny busi...
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Scotland Police Give Warnings Due to the Rise in Cybercrime
Highland Police is taking a major initiative to warn the businesses of a spike in cybercrime and ...
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Japan to Form Specialized AML/CFT Team in Response to FATF Review
Japan has been advised by the FATF to enhance cross-agency coordination and overcome barriers of ...
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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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Global AML Watchdog FATF Puts UAE on the Grey List
The Paris-based Financial Action Task Force placed the UAE on the grey list for “strategic defici...
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Aussies Lost Record-breaking $851 million During COVID-19: ACCC Reports
Amid the pandemic, Australians lost a record-breaking amount of $851 million in 2020. According t...
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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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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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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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Transparency International Declares South Sudan Second Most Corrupt Country
In the East African region, South Sudan has been ranked as the most corrupt country in the world....
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Online Gaming Company Fined €386,000 for AML Failings
Online Amusement Solution Limited, a gaming company, was fined more than €386,000 by the FIAU for...
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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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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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Biden Increases 50% Budget for FinCEN to Omit Financial Crimes
President Joe Biden of the USA is pushing a plan for a 50% increase in the budget set aside for t...
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Turkey at Risk of Becoming a Haven for Russian Sanctions
Turkey is facing rising pressure for compliance with sanctions imposed on Russia and to increase ...
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ChatBooks notifies users of the data breach after data sold on the dark web
ChatBooks has recently disclosed the data breach following a cyber attack on its system that resu...
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Crypto firms Halt Business in China After an Intense Government Crackdown
Cryptocurrency businesses have stopped their operations after the government led an intense inves...
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TD Bank Agrees to Pay USD 1.2 Billion to Settle Investor Lawsuit
Toronto-Dominion Bank has agreed to pay US $1.2 Billion to settle an investor lawsuit which claim...
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Congress to Pass Urgently Needed AML & Whistleblower Protections Against Russian Oligarchs
Congress is close to passing urgently required AML and whistleblower protections targeting Russia...
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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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China Introduces 5-Point Strategy to Enforce Crypto AML Measures
China’s newly appointed governor of the Central Bank emphasised the AML regulations to safeguard ...
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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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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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Property Brokers in New Zealand Given Official Warning over AML/CFT Compliance
An eighty-branch real estate agency in New Zealand, Property Brokers, has received their first fo...
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UAE Central Bank Fines Firm $490,000 for Violating AML/CFT laws
The UAE’s Central Bank has charged a financial firm Dh1.8 million ($490,000) over breaching the c...
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New York Files Lawsuit Against Juul Following California and North Carolina
New York state is joining California and North Carolina in suing e-cigarette company, Juul, on th...
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BSP Warns Banks Against Auto Loan Fraud
According to BSP, organized crime groups are using fake identities to sell vehicles under fake li...
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UK Gambling Commission Fines 888 with £9.4m for AML Failings
Great Britain’s Gambling Commission has issued 888 with a fine of £9.4 million over a series of s...
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Philippines anti-money laundering council demands strict POGO regulations
The Philippines Anti-Money Laundering Council (AMLC) has advised of an “increasing level of threa...
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UAE Issues a Total of $11 Million in Fines for AML Offenses in First Half of 2022
UAE’s AML task force has imposed fines of over Dh41 million ($11m) in the first six months of 202...
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Govt assists Struggling Swiss Crypto Valley
Switzerland’s “Crypto Valley” is in talks with the federal government for fixing a 100 million Sw...
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BitGo settles with US Treasury; Sanctions Violations will Cost $98,830
The U.S. Treasury has settled with BitGo over costs that it helped users in authorised divisions ...
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AML Program Risks Highlighted by the Pandora Papers Scandal
Experts have advised compliance officers to divert their focus on EDD, CDD, and UBO verification ...
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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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UK Government Issues New Guidance On Data Collection Related To Self Custody Crypto Wallets
The government of the United Kingdom is issuing new rules on the collection of data for the crypt...
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Officials Concerned about the Russian Money Laundering Done Through the UK
The top officials in the UK have shown their concerns about the disturbing regularity of the Russ...
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The Next Big Step- Blockchain-Based E-voting
A Japanese firm, Layer X labs, has decided to work on the development of voting electronically by...
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Belgian Banks to Establish a Platform to Reveal Anti-Money Laundering data
Belgium’s one of the leading bank chain has now suggested developing a platform that will allow p...
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FATF applauds Korea’s AML and CFT efforts
According to the FATF, Korea features a sound legal framework to tackle money concealment and ter...
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Phishing Scam affects thousands of Banking App users
Thousands of customers have been exploited by a fake mobile banking app. The customers were sent ...
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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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UK’s National Audit Claims FCA Takes Slow Crypto Enforcement Actions
The UK’s National Audit stated that the Financial Conduct Authority (FCA) has all the rights to c...
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FCA Reviews UK Small Trade Finance Lenders to Ensure Compliance
FCA is reviewing UK’s small trade finance lenders to assess their due diligence, risk assessment,...
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Instagram is Adding Age Verification to Protect Minors
Instagram is adding age verification in order to provide a safer online community to the minors. ...
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Money Mule Initiative Results Announced by the US Department of Justice
As a part of the Money Mule Initiative, the law enforcement depart of the USA has taken action ag...
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Ireland Mandates Registration of Crypto Firms Under AML Laws
Ireland has taken new measures to regulate crypto businesses under the AML law for the first time...
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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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COVID-19: Banks and mobile companies join to block texting scams
The banking and mobile phone industries are declaring advancement in the face of a rise in so-cal...
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Increasing Incidents of Fraud Becoming a Threat to UK’s National Security: UK Finance
Automated systems prevented approximately 736 million pounds ($1 billion) from being stolen throu...
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Businesses at Risk Due to 6AMLD by the European Union
The European Union imposed the fifth anti-money laundering directive in January 2020, which enhan...
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SFC Imposed a HK$9 Fine on RIFA Future for KYC Failings
RIFA Limited was charged by the domestic regulatory authority of Hong Kong, the Securities and Fu...
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Fraud claim filed against HSBC Bank for ‘sham’ investment scheme
A fraud claim worth £1.3 billion has been submitted by 371 investors against HSBC UK Bank for los...
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Central Bank of Nigeria Speaks About the Terrorism Fuelled by Cryptocurrency
The Central Bank of Nigeria, comments on why it does not favour the means of digital currency and...
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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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German Customs to Strengthen Fight Against Organised Crime and Money Laundering
Christian Lindner, German Finance Minister, announced at the weekly cabinet meeting held at the C...
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Two of Singapore’s Banking Giants Involved in Billion-Dollar Money Laundering Case
The two well-known banks in Singapore, Development Bank Singapore (DBS) and Overseas Chinese Bank...
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UAE Praises Singapore’s S$2.8b Financial Crime Bust
The director-general of UAE anti-money laundering and counter-terrorism financing commends Singap...
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Namibia Launches Cyber Security Council to Curb e-Fraud
Namibia has established a cyber security council that would act as a useful forum for discussions...
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Shufti is nominated for ‘Oustanding Product/ Service’
Global business excellence awards nominated Shufti for the category of outstanding product/ s...
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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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Emirates Delegation of Anti-Money Laundering and Counter-Terrorism Financing Visits US
The Emirates Executive Office of Money Laundering and Counter-Terrorism Financing visited Washing...
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Elon Musk proposes regulations on artificial intelligence
”Organizations developing artificial intelligence must be regulated”, says Elon Musk. This is not...
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China Strengthens Anti-Money Laundering Rules for Financial Institutions
China has taken steps to improve financial institutions’ measures to combat money laundering by p...
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Customers warned of scams by the UK banking lobby amid COVID-19
Banking customers should be aware of fraudsters who are exploiting the COVID-19 epidemic to carry...
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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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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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