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Monetary Authority of Singapore to Support G20 TechSprint Initiative
The Monetary Authority of Singapore (MAS), the nation’s central bank and financial regulator, rec...
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Department of Justice Charges Russian Oligarch with Violating US Sanctions
The Justice Department reportedly charged a Russian oligarch with violating US sanctions and reve...
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Unlisted Crypto Exchange, JPEX, Investigated for Criminal Charges by SFC
The Hong Kong Security and Futures Commission (SFC) warned an unlisted crypto exchange platform, ...
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India to Impose $2.65M Fine and Jail for Violating Cryptocurrency Bill
India’s financial watchdog has proposed a new crypto bill to impose a $2.65M fine and jail for vi...
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Two More Crypto Firms to Shut Down Over EU Money Laundering Regulations
Two more cryptocurrency firms – mining pool Simplecoin and bitcoin gaming platform Chopcoin...
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Money Laundering Concerns Prompt Hong Kong Banks to Reject Crypto Transactions
Despite the Hong Kong government’s encouragement, two banks have rejected crypto activities...
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ODJFS Makes Efforts Against Fraud Schemes, Calling for Improved Safeguards
The Ohio Department of Jobs and Family Services (ODJFS) has estimated that approximately $506 mil...
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Chinese Bank trials the test interface for PBoC’s Digital Currency
One of China’s largest state-owned banks, the Agricultural Bank of China (ABC) is testing a new i...
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Central Bank of Nigeria (CBN) Raises Concerns Over KYC and AML Protocols
The Central Bank of Nigeria (CBN) has intensified pressure on financial institutions (FIs) to imp...
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FBI and the U.S. Marshals Service Warn of Prevailing Telephone Scams
FBI and the U.S. Marshals Service have warned of prevailing telephone fraud in which callers act ...
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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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Pokies are Safe Havens for Criminals to Clean Dirty Money – Says NSW Crime Commission
According to findings of a multi-agency investigation released by the NSW Crime Commission, pubs ...
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Libra taps another former FinCEN official as general counsel
Robert Werner, former director of FinCEN and OFAC regulatory authorities, has recently joined the...
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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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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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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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FATF to Reassess Morocco’s AML Measures for Possible Removal from Gray List
The Financial Action Task Force (FATF) is all ready to reevaluate Morocco’s Anti Money Laundering...
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Sebi Releases New Anti-Money Laundering Guidelines
The capital markets regulatory authority, the Securities Exchange Board of India (Sebi), publishe...
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HSBC Fined £64m for “Unacceptable AML Failings”
HSBC was fined by the UK’s financial regulator for ‘deficient transaction monitoring controls’. W...
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Bank of Israel (BoI) Pushes Banks to Accept Crypto Profits
The Central Bank of Israel pushes local banks to un-restrict the cryptocurrency transaction gener...
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Canada Faces 400% Increase in the Cryptocurrency Fraud
The Canadian police department is warning people to protect their personal information and perfor...
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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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Germany to Establish New Regulatory Body to Combat Money Laundering
It has been reported that the German government will create a new regulatory body to combat money...
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AI-based voice cloning induces new scams
Vijay Balasubramaniyan, the CEO, CTO, and Co-founder of Pindrop Security, warns the world about a...
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Another COVID-related lure: Phishing Scam Targeting Email Users
Amid the COVID-19 outbreak, email users are constantly warned against fraudulent emails and scams...
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China Announces New Office To Combat Money Laundering
An office devoted to combating money laundering and ensuring financial institutes comply with Ant...
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A Brussel Led Crackdown to be Held in Britain if EU Demands are not Met
MEPs have ordered Brussels to black-list the city of London if it does not comply with the EU’s D...
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Europol and EU Member States Launch Operation Targeting Assets of Sanctioned Entities
Europol and EU member states along with Eurojust and Frontex have launched Operation Oscar to ass...
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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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Financial gain surpasses espionage as a top motivator in cyber attacks
NEW YORK – According to Verizon’s annual report on cybercrimes, money surpassed spying as t...
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FATF to Blacklist Myanmar Over Money Laundering Concerns
Myanmar faces a blacklisting threat by a FATF because of AML compliance failure and weak regulati...
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FATF’s New Regulations Will Help Sanctions Find Russian Targets
The Financial Action Task Force’s drive to eliminate the anonymity of corporate beneficiaries mak...
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Europol Warns Trade-Based Money Laundering Poses Substantial Threat to Financial Institutions
Financial institutions faced trade-based money laundering as a new threat since the digitalisatio...
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Financial Regulators in Uganda Demands Government to Set Crypto Regulations
Uganda’s financia regulators, Financial Intelligence Authority (FIA), want the government to take...
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Central banks urged to introduce digital alternatives to cash
According to a recent report from Positive Money, Central banks across the globe should issue a d...
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MFSA, SEC, Along with FCA Introduces New AML Guidelines for Money Laundering Officers and Virtual Asset Service Providers
The Malta Financial Services Authority (MFSA), Securities and Exchange Commission (SEC), and Fina...
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UAE Central Bank: AML Guidelines Issued for Licensed Financial Institutes
The UAE Central Bank has issued guidance for financial institutes to fight money laundering, terr...
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Brazilian Police Confiscates $33 M in Crypto Money Laundering Probe
Brazilian authorities have seized R$172 million from an investigation carried out into money laun...
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Central Banks of UAE and Saudi Arabia Released a Joint Report on CBDC
A joint report published by the central banks of UAE and Saudi Arabia, two countries with the mos...
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Lloyds Banking Group Initiates “Pilot Scheme” to Combat Frauds
Lloyds bank initiates a “pilot scheme” with the London police to counter criminal act...
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Google CEO voices his concerns regarding AI and its potential harmful damages in the future
Sundar Pichai, Google CEO gave a statement on Monday regarding Artificial Intelligence and its in...
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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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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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Real Estate is Becoming a Primary Target for Money Launderers in the UK
According to a government report, Luxury London homes are a new method to launder illicit funds. ...
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Anti-Money Laundering Initiative in Ireland Extended to Bitcoin
Cryptocurrency buyers and sellers in Ireland, under the new anti-money laundering regime, will no...
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Uganda at Risk of Getting Blacklisted by FATF Unless it Addresses 16 Issues
Uganda is facing the risk of being added to a global blacklist for money laundering and terrorism...
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FCIU Uncovers Money Laundering Patterns Through Social Media Scams
South Yorkshire law enforcement authority has seized EUR 70,000 placed in the illicit gambling ac...
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Coinbase Agrees to $100Million Settlement with NYDFS for AML Violations
Coinbase, The American cryptocurrency exchange platform, has agreed to pay $100 million in a sett...
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Homeland Security Takes Back Its Plans of Facial Recognition for US Citizens
The Department of Homeland Security (DHS) is taking back its decision to implement a policy that ...
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Danske Bank Fined €1.82m Over AML and CTF Breaches
Danske Bank was accused of AML compliance failings and fined €1.82m by the Central Bank, revealin...
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German Parliament Passes Anti-Money Laundering Laws
On Thursday, the German parliament passed a draft of anti-money laundering measures to make sure ...
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Coincheck customers fall victim to a data breach
In 2018, Coincheck, the Japanese firm, fell victim to probably the largest cryptocurrency hack in...
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Europe Bolsters Fight Against Financial Crime with AMLA Formation
The European Parliament (EP) and European Union (EU) council teams have agreed to create the Euro...
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Amazon patents block chain-based product authenticator
The U.S. Patent and Trademark Office approved Amazon’s three-year-old “Distributed ledger certifi...
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MAS Rejects License Applications of 100 Crypto Exchanges for Ineffective CDD Protocols
Over 100 companies were either turned down or had to withdraw their applications for a license to...
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455 Social Media Accounts Flagged for Rolling Out Fake IDs – Europol Reports
455 social media accounts flagged by Europol, which were providing fake identity documents to ill...
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Canada to Establish Beneficial Ownership Registry to Fight Financial Crimes
The Candian Federal budget has brought good news for the supporters of anti-money laundering. The...
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RICS Urges Firms to Adopt ‘Extremely Careful’ Due Diligence Measures
The RICS has issued a statement for its members urging them to adopt ‘extremely careful’ measures...
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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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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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UAE Making ‘Strong Progress’ in Efforts to Prevent Financial Crimes
The Minister of Foreign Affairs said that the UAE is making “strong progress” to prevent illicit ...
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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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FinCEN Shutting the Channels of Financial Crimes Directed through Shell Companies
A major path of money laundering and tax evasion has been shut off by FinCEN with their new regul...
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IRS Criminal Investigation Uncovers Approx. $10 Billion Worth of FinCrime
IRS-CI FY 2021 highlighted $2.19 billion in tax fraud, $8.18 billion in financial crimes, 1497 wa...
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Shufti introduces react native app for customer convenience
Recently, Shufti launched its react native app for enhanced customer convenience.
Shufti ...
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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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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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Swiss Prosecutors Open Probe Against “Suisse Secrets” Whistleblower
The Swiss Prosecutors have launched an investigation, not after the bank but against the Suisse S...
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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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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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Australian Payment Network Reports 9.2% Increase in Payment Card Fraud
AusPayNet reports that the e-commerce industry experienced a 9.2% rise in payment card fraud due ...
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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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