News
Scammers Stealing Kids’ Identities By Offering ‘Free Child Safety Kids”
The Better Business Bureau (BBB) is warning parents to be aware of ‘free child safety kits’ as sc...
Explore More
News
Yemen Government Accused of Money Laundering by United Nations
Monitors of U.N sanctions have accused Yemen’s government of corruption and money laundering. A r...
Explore More
News
Pakistan Launches Contactless Biometric Verification for Banking
Pakistan has become one of the first countries in the world to implement biometric verification t...
Explore More
News
Global Banks Slapped with a Total of $14.21 Billion Fines in 2020
Finbold released a report on the global banks that were fined in 2020. According to the report, a...
Explore More
News
Saudi Bank Warns Citizens Against Financial Fraud Schemes Circulating via Fake News Websites
The Saudi Ministry of Commerce is reiterating warnings about fake news websites looting people by...
Explore More
News
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...
Explore More
News
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...
Explore More
News
Money Laundering to Remain a Significant Challenge with Spike in Online Crime
Senior officers of Garda have indicated the rapidly rising problem of money laundering as the big...
Explore More
News
Gambling Commission Imposed a £6.1 Million Fine on Touch Games for Money Laundering Failings
The Touch Games, a gambling firm that operates 11 websites, has been fined £6.1 million over fail...
Explore More
News
UAE Extends the Deadline for DNFBPs to Register for AML Regulations
The Ministry of Economy (MoE) in Abu Dhabi has announced the deadline extension for the registrat...
Explore More
News
Nearly $30 Billion Laundered Through Canada’s Real Estate – Says TIC
A joint study by Transparency International Canada and the End Snow Washing Coalition highlighted...
Explore More
News
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 ...
Explore More
News
China’s digital yuan to be tested by 19 firms including McDonald’s and Starbucks
Starbucks and McDonald’s are among 19 businesses that will test China’s new digital c...
Explore More
News
UAE to Revolutionize the Financial Regulatory Requirements
A new set of measures are being taken by the Ministry of Justice in the UAE to curb the money lau...
Explore More
News
Iranian Banks in Bahrain to be Prosecuted for Breaching AML Sanctions
Bahrain’s public prosecutor declared that the 13 Iranian banks, including the Central Bank of Ira...
Explore More
News
‘Money Laundering risk is higher in banks in Mexico than crypto firms’, says FIU report
According to the new report generated by the country’s financial intelligence unit (FIU), the ban...
Explore More
News
Isle of Man Urged to Take Further Steps to Counter Money Laundering
The Council of Europe’s anti-money laundering committee has again called for an extension in the ...
Explore More
News
New AML Reforms ‘Tranche 1.5’ Take Effect in Australia
In an attempt to streamline customer verification and correspondent banking, AUSTRAC has issued r...
Explore More
News
South Africa links fintech startups with financial regulators
South Africa’s financial regulators have initiated the Inter-governmental Fintech Working Group (...
Explore More
News
FATF Upgrades Guidelines on Risk-Based Approach for VA/VASPs
FATF (Financial Action Task Force) is upgrading the regulations regarding the risk-based approach...
Explore More
News
Garantex Sanctioned by the US for Laundering Over $100 Million
The US Treasury Department has sanctioned the virtual currency exchange Garantex for facilitating...
Explore More
News
HKMA Fines Four Banks with $5.7 Million for AML Failings
Hong Kong’s financial regulator has imposed fines on four banks with a combined amount of $5.7 mi...
Explore More
News
China Enhances AML Obligations to Combat Money Laundering
Chinese authorities have released the latest guidelines to enhance security in the financial sect...
Explore More
News
FATF applauds Korea’s AML and CFT efforts
According to the FATF, Korea features a sound legal framework to tackle money concealment and ter...
Explore More
News
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. ...
Explore More
News
Bank of Ghana Proposed Guidelines to Strengthen AML/CFT Regulation
The Bank of Ghana proposed guidelines for banks to enhance the Anti-Money Laundering and Combatin...
Explore More
News
New European Legislative Proposals to Transform the Digital Platforms
A new act is proposed by the European Commission to enhance digital spaces. A new set of rules ha...
Explore More
News
FCA Emphasises on Companies to Invest in Compliance Program
The U.K’s financial crime investigation agency is now taking steps that will involve the companie...
Explore More
News
UAE Starts to Scrutinize Businesses to Ensure KYC/AML Compliance
The UAE’s Ministry of Economy now starts the inspections of Designated Non-Financial Businesses a...
Explore More
News
Taiwan Bans Four Foreign Banks for Breaching FX Regulations
The Central Bank of Taiwan has penalized four foreign banks for assisting 8 major grain companies...
Explore More
News
The Bahamas to Launch a Payment Card for Central Bank Digital Currency
Bahamas’ Central Bank has joined hands with Mastercard and digital payment startup Island Pay to ...
Explore More
News
The United Kingdom implements new Anti-Money Laundering regulations
The United Kingdom’s finance and economics department has announced the incorporation of new Anti...
Explore More
News
South African Government Passes Key AML and CFT Laws to Fight Financial Crimes
South African government passes two significant laws to implement Anti Money Laundering and Count...
Explore More
News
UK Authorities Accuse Attorneys of Failure in Combating Financial Crimes
The UK regulatory authorities asserted that new data revealed prosecutors inadequately comply wit...
Explore More
News
Visa and BlockFi Team Up to Launch Bitcoin Rewards for Credit Card Users
As digital currencies are entering different regions of the world, financial giants are introduci...
Explore More
News
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...
Explore More
News
Hong Kong opens up its first online-only bank
According to reports, ZA Bank, the first online bank in Hong Kong, opened up on Tuesday (March 24...
Explore More
News
Crypto Bill Approved by the US Congress Set to Revamp Digital Asset Securities
The US Congress presented comprehensive legislation for the crypto market to redefine workflows a...
Explore More
News
DC lawyers can now accept crypto for legal fees
According to a report by Bloomberg Law, cryptocurrency can now be used to pay for legal services ...
Explore More
News
Gambling Commission Fines Entain £17m for Social Responsibility & Anti-Money Laundering Failures
Ladbrokes owner Entain has been fined £17m by the Gambling Commission for social responsibility a...
Explore More
News
Global regulators propose stricter scrutiny of derivatives clearers amidst deadlock with banks
LONDON – Global regulators have suggested greater scrutiny of clearinghouses managing trill...
Explore More
News
FATF Upgrades Guidelines on Risk-Based Approach for VA/VASPs
FATF (Financial Action Task Force) is upgrading the regulations regarding the risk-based approach...
Explore More
News
Binance to Strengthen KYC Measures & Sanctions Enforcement with New Partnerships
The global crypto exchange Binance has announced that it will strengthen its KYC controls & s...
Explore More
News
AI-based voice cloning induces new scams
Vijay Balasubramaniyan, the CEO, CTO, and Co-founder of Pindrop Security, warns the world about a...
Explore More
News
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...
Explore More
News
BNM Issues New Policy For Remote Corporate Customer Onboarding
BNM has issued a new policy document that permits MSBs to onboard customers remotely in the corpo...
Explore More
News
FATF Calls for Tighter Regulations to Fill Voids in Virtual Asset Compliance
The Financial Action Task Force (FATF) highlighted a regulatory gap in the compliance system for ...
Explore More
News
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...
Explore More
News
US Treasury Publishes National Risk Assessments for Financial Crimes
The US Treasury has published the 2022 National Risk Assessments (NRAs) on Money Laundering (NMLR...
Explore More
News
US Senator Challenges the Proposed Crypto Regulations of FinCEN & FATF
Pat Toomey, the US Senator, has requested Treasury Secretary Janet Yellen to “make significant re...
Explore More
News
Binance Fined $3.4 million by Dutch Central Bank For Violating Regulatory Laws
The De Nederlandsche Bank (DNB) fined Binance with $3.4 million for failing to get regulatory ap...
Explore More
News
Monetary Authority of Singapore to Support G20 TechSprint Initiative
The Monetary Authority of Singapore (MAS), the nation’s central bank and financial regulator, rec...
Explore More
News
Philippines AML Council Adds POGO to its Non-Compliance List
In its efforts to fight money laundering and terrorist financing, AMLC has added third POGO to th...
Explore More
News
Nepal Approves Anti-Money Laundering Bill to Comply with International Standards
Nepal endorsed an anti-money laundering bill as the initial step to combat financial crime and en...
Explore More
News
EU Regulators Say Crypto Exchange Licenses Should be Revoked for Money Laundering
EU regulators have proposed that the licenses of crypto exchanges should be revoked in case of se...
Explore More
News
Money Laundering & VAT Fraud Acquisition Against Lycamobile
A trial for money laundering and value-added tax (VAT) fraud between 2014 and 2016 started on Jun...
Explore More
News
Hacker steals $250K by exploiting Bitcoin exchange Bisq
A hacker identified a significant software flaw on the decentralized Bitcoin exchange, Bisq, to s...
Explore More
News
BSP Warns Play-to-Earn Gamers about Potential Illicit Activities
Online gaming platforms should employ KYC verification processes to make payments more secure.
T...
Explore More
News
FCA Fines Ghana International Bank Over £5 million for Money Laundering Failings
The Financial Conduct Authority (FCA) has imposed a £5,829,900 financial penalty on Ghana Interna...
Explore More
News
Taiwan’s Financial Authority Set to Establish Rigid Crypto Regulation
Taiwan’s Financial Supervisory Commission (FSC) has designed regulations that protect the c...
Explore More
News
UAE: Virtual Asset Fraudsters to Face Imprisonment, Dh 1M Fine
Residents in the UAE have been advised to perform due diligence procedures prior to investing in ...
Explore More
News
Bahrain sentences three money-laundering suspects to prison
Bahrain fined three suspects of $9 million and sentenced them to prison in the Future Bank case. ...
Explore More
News
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...
Explore More
News
Insurance and Pension Sector in Zimbabwe Progressing in Anti-Money Laundering Efforts
Both sectors in Zimbabwe are prone to money laundering, and the first target of the authorities i...
Explore More
News
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...
Explore More
News
TSA to test self-service facial recognition technology in the pilot program
The Transportation Security Administration (TSA) is now testing self-service facial recognition t...
Explore More
News
Global Drug, Money Laundering Hub Busted in Las Vegas
Federal law enforcement officials in Las Vegas have dismantled an international money laundering ...
Explore More
News
Cyberhack Discloses Data on Over 600,000 Medicare Beneficiaries
A data breach in May 2023 exposed the personal information of 612,000 Medicare beneficiaries, inc...
Explore More
News
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...
Explore More
News
EU Limits Use of Cash and Cryptocurrency to Curb Financial Fraud
The European Union (EU) has issued new measures to limit use of cash and cryptocurrencies to tack...
Explore More
News
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...
Explore More
News
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...
Explore More