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Albania’s Fight Against Money Laundering and Terrorist Financing Gains Traction
Based on the Council of Europe’s MONEYVAL review report, published on June 21st, Albania ha...
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US Treasury Launches New Financial Force to Combat Illegal Fentanyl Trade
The US Treasury Department has announced the launch of the Counter-Fentanyl Strike Force to comba...
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Online Gambling Operator Penalized Over Failure to Meet Anti-Money Laundering Regulations
Boylesports, an online gambling operation is facing £ 2.8 million in fines for violating the regu...
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FIAU Fines Maltese Investment Fund €300,000 for ‘disregard’ of AML Rules
The FIAU said that Southern Cross Sicav showed ‘disregard’ for its anti-money laundering obligati...
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Russian Government to Fight Cybercrimes for Digital Economy
A report by TASS news agency states that the Russian government plans to develop a center to figh...
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Singapore Seizes $2 Billion Worth of Assets in Money Laundering Investigation
Singaporean regulatory authorities officials accused lax immigration policies of large inflows of...
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SEC Ramps Up Efforts to Tackle Identity Theft in the Captial Market
The Securities and Exchange Commission (SEC) has noted that the Identity Management System will d...
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CBUAE Introduces New Program to Boost Digital Transformation in Financial Services
UAE Central Bank has introduced a program that includes a new digital currency, open finance and ...
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Swiss Regulator FINMA Issues DLT Act for Digital Securities Market
The Financial Market Supervisory Authority (FINMA) introduced regulatory amendments for digital s...
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Interpol Seizes $130M Worth of Virtual Assets from Cybercriminals Worldwide
The International Criminal Police Organization Interpol has seized $130 million worth of virtual ...
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New York’s Attorney General Bent on Shutting Fraudulent Crypto Platform
New York’s attorney general has filed a lawsuit against a cryptocurrency platform, known as Coins...
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Pandemic Fraud Crackdown: US Bank Employees Indicted Over Document Fraud
Bank employees and tax preparers fraudulently applied for $3M+ in pandemic relief loans through f...
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FMA Blacklists Krypto Security, Bay Exchange, and CTRL Investments Limited
New Zealand’s FMA has warned investors against services and products being offered by unauthorize...
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UAE startup relies on Blockchain to flatten COVID-19 curve
In5, UAE based start-up incubator, is assisting to design blockchain-based techniques to suppress...
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Americans ‘work from home’ strategy present new targets for hackers
Coronavirus outbreak has forced organizations to let their employees work from home during the ou...
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Nigerian-Owned Tech Firm, Flutterwave, Closes 45 Bank Accounts Due to Money Laundering
A group of 2,468 Nigerian nationals accused Flutterwave Payments Technology of defrauding them of...
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$4.4 Billion Worth Cryptocurrency Stolen in 2019
The crypto analytics firm, CipherTrace released its Q3 2019 Cryptocurrency Anti-Money Laundering ...
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Non-Compliant Banks Can End Up In FATF’s Gray list – Warns Governor of the South African Reserve Bank
Lesetja Kganyago, Governor SARB confirms to the Parliament’s standing committee about the i...
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Money Laundering Crackdown on UK Law Firms
The regulators at Solicitor Regulators Authority (SRA) asked 400 law firms earlier this year to p...
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UK Issues Crypto Framework for ICOs, Stablecoins, Exchanges and Regulators
The report covers crucial aspects of crypto regulation, aiming to foster growth in the sector wit...
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Seychelles Prosecutes First Money Laundering Case Against Elites from Pandora Papers
Seychelles, known for being a tax haven, was recently removed from the EU’s blacklist and is purs...
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Cybercrimes in UK have ‘doubled’ in past five years
Large businesses remain most at target but SMBs have seen the steepest rise in successful cyber a...
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Australian Regulators Oblige Businesses to Report Suspicious Transactions
The Australian regulatory authorities ordered digital businesses to report cyberattacks and suspi...
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Global Plight: Australia Paves the Way for Money Laundering in the Property
Australia facilitates money laundering through the property, causing a global plight and perpetua...
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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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Black Friday Shoppers Alert: Digital Scam Victims Lose an Average of £1,000 Each
Black Friday shoppers have been advised to strengthen their cybersecurity as NFIB revealed that v...
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Crown Resorts Accused of ‘Serious and Systemic’ Money-Laundering Breaches
AUSTRAC has brought Crown Resorts to court as the casino breached anti-money laundering regulatio...
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Senate Reveals a 12-Year-Old Loophole Targeted by Americans to Cheat IRS
Offshore tax loopholes are safe havens for wealthy Americans to cheat the Internal Revenue Servic...
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Rabobank’s Profits Drop Over Shut Down in Russia and Increased AML Costs
Dutch Cooperative Rabobank revealed that its profit plunged more than a quarter in the first half...
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Financial regulators assure further assistance to the industry during COVID-19
Global financial regulators guarantee to provide ease in the regulations to deal with the COVID-1...
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Joint ATO Operation Busts $137m Fraud Ring
The Australian Border Force (ABF) and the Serious Financial Crime Taskforce (SFCT) have jointly i...
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Cyprus Updates Money Laundering Measures to Supervise Crypto Platforms
Cyprus reshaped its anti-money laundering measures by amending the “Prevention and Suppression of...
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Malta-based Pilatus Bank Fined €5m Over AML & Terrorism Breaches
Pilatus Bank failed on various accounts, including identity verification of customer businesses, ...
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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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HKMA Reveals Phishing Fraud Went Up by 145% in 2021
Statistics revealed by HKMA show that phishing fraud rose by 145% in the first half of 2021.
Hon...
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New Jersey Hospital System Hit By a Ransomware Attack
One of the largest hospital systems of New Jersey has reported that it was hit by a ransomware at...
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Singapore’s Public Warned Against the Highly Volatile Crypto World
Singapore’s financial regulators once again warn their public about the risks of the cryptocurren...
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The State Bank of Vietnam Demands More Freedom and Power to be Granted to the Anti-Money Laundering Bureau
The State Bank of Vietnam (SBV) requested the government to enhance security by providing more fr...
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Singapore Authorities Investigates Bank’s Role in $1.8B Money Laundering Case
Singapore’s central bank started an investigation against banks involved in a $1.8b global wealth...
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Optus Data Breach Leaves Millions of Australians at Risk of Identity Theft
The APF is investigating Optus’s data breach that involves millions of customers’ per...
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SEC Files Money Laundering Complaint Against Silverlion
The Security Exchange Commission (SEC) filed a case against Silverlion Livestock Trading Corporat...
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France Ranked Among Countries with Effective Measures to Tackle Financial Fraud
The latest FATF report ranks France among countries that have effective measures in combating fin...
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FCA Advises Firms to Embed Data and Technology to Combat Financial Crimes
Sarah Pritchard, the FCA executive director of markets, spoke at the Financial Crime Summit in Lo...
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Pandemic Fraud Crackdown: US Bank Employees Indicted Over Document Fraud
Bank employees and tax preparers fraudulently applied for $3M+ in pandemic relief loans through f...
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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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Dark Web Becomes a Haven for Insurance Fraud
Dark Web has recently become a growing market for unemployment insurance fraud and fraudsters can...
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EU Court of Justice Passes Judgement Against Provision of AMLD5
EU Court of Justice has passed a judgment against the provision of the AMLD5, concluding that pub...
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SRA Fines Scarborough Law Firm for Long-term AML Compliance Failures
The Solicitors Regulation Authority (SRA) has fined Scarborough law firm Pinkney Grunwells Lawyer...
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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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Clearview AI will be facing the legal claims after critical NYT report
Clearview AI is an artificial intelligence firm providing facial recognition technology to US law...
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UK Regulatory Authorities Warns Crypto Firms to Comply with Latest AML Obligations
The UK regulatory department, Financial Conduct Authority (FCA), has warned cryptocurrency platfo...
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Australia sues Facebook for $525 billion
A lawsuit was filed against Facebook by Australia’s privacy regulator, blaming the social media p...
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Global regulators propose stricter scrutiny of derivatives clearers amidst deadlock with banks
LONDON – Global regulators have suggested greater scrutiny of clearinghouses managing trill...
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IRS Highlights Potential Risk of Fraud in NFTs and Cryptocurrencies
IRS highlights Non-Fungible Token (NFTs) and crypto as the potential risk of financial crimes, in...
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China Pledges “Zero Tolerance” for Financial Fraud
Top financial regulators in China pledged to introduce stricter controls following the recent dis...
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UAE Issues Guidance to Registered Unlicensed Crypto Firms
UAE’s regulatory authorities stated all unlicensed Virtual Service Providers (VASPs) companies wi...
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Zoom improves user security by incorporating 2FA for all users
Zoom confirmed adding 2-factor authentication (2FA) for all the users of the platform. This marks...
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FirstBank of Nigeria Continues Commitment to Combating Money Laundering
Chief Executive Officer of the First Bank Group of Nigeria Limited, Dr. Adesola Adeduntan, noted ...
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After Targeting 30 People, the “Major Identity Theft Player” Got Arrested by MPD
Roseanna Russell, who the police call ‘mega player’, got caught by the Mobile police. The reports...
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Central Bank of Morocco to Introduce a Comprehensive Crypto Regulation Bill
Morocco’s Central Bank is drafting a set of comprehensive cryptocurrency laws as the digital asse...
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NGOs Advised on Due Diligence to Tackle Terrorism Financing
The Financial Crimes Commission’s SCUML has advised Non-Governmental Organizations (NGOs) to cond...
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13K Affected in Third-Party Data Breach at Anthem MaineHealth
A third-party service provider accessed the database of Anthem MaineHealth and obtained patients’...
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Oman’s CMA Initiates Efforts to Improve Anti-Money Laundering Measures
Oman’s Capital Market Authority is sharpening its focus on improving its anti-money laundering an...
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The Age Verification Software Market to Experience Tremendous Growth by 2025
The increasing number of scams in today’s virtual world needs a better verification system. Prote...
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Swiss Prosecutors Scrutinize Lebanon’s Central Bank for Money Laundering
Prosecutors in Switzerland are carrying out investigations from the British Virgin Islands to Gen...
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Former US Bank Risk Officer fined for AML oversight
Michael LaFontaine, former chief risk officer at U.S. Bank has been imposed a fine of $450,000 by...
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FATF Criticized Cash-Rich Germany Over Money Laundering Concerns
FATF dealt a blow to Germany’s reputation, which considered itself high regarding its reput...
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AUSTRAC Denounces De-banking Practices To Prevent Financial Crimes
AUSTRAC stated that de-banking is a complex global problem as it multiplies the risks faced by fi...
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UK’s Decision to Dump the GDPR Raises Concerns for Online Gambling Sector
The UK is facing financial turbulence because of changing its way from participating in European ...
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Kenya’s High Court Freezes Sh15 Billion Over Suspected Crime and Money Laundering
The High Court of Kenya has frozen more than Sh15 billion over suspected proceeds of Money Launde...
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Regulatory Authorities to File a New Bill to Secure the Citizens from Cyber Criminal Activities
Senator Estrada filed a bill to protect senior citizens unfamiliar with modern technology from cy...
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Macau to Introduce Digital Currency to Combat AML Threats in Casinos
Macau is moving towards introducing digital currency to fight money laundering and tax evasion in...
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