Read More about fast-id page

Shufti globally launches webinr-icon - a new kind of identity solution!

Shufti globally launches - a new kind of identity solution!

Read more

COVID-19 Vaccines at the Risk of being Illegally Obtained by Fraudsters

Fraudsters

There is nothing more awaited than the coronavirus vaccine this year. The international agencies are already concerned about the possibility of the criminal activities that come along with the distribution stage of the COVID-19 vaccine. The criminal network will try to target some distribution networks as the vaccine is getting ready to be delivered. 

The COVID-19 pandemic has affected more than 55 million people and has killed 1.3 million people around the world in less than a year. The economy has been devastated and almost every industry has fallen into bankruptcy. 

Secretary-General of Interpol, Jürgen Stock states “High demand combined with a limited supply will make COVID-19 vaccines the equivalent of liquid gold to organized crime networks as soon as one is available. As the global COVID-19 situation continues to evolve, so must the law enforcement response, and these updated guidelines provide a useful reference document for frontline officers to protect themselves and the communities they serve.”

Jonathan Cushing, head of operations at TI Health Initiative states, “Whilst most vaccines have little street value, initially limited supplies of a COVID-19 vaccine — compounded by a likely high demand from anxious populations — will make it a target for theft and diversion. Make communities aware of the dangers posed by the black market or illegal sales, and the introduction of corruption reporting hotlines.”  

Chief of Interpol also highlighted it is necessary that some actions are taken to protect both legal supply chain when the vaccine is all set to be distributed and also to stop the production of the fake vaccines and their distributions. 

The agency has updated the regulations to identify the criminals. The regulations also include recommendations regarding fraud and money-laundering. 

The vaccine can be misused by illegally obtaining it for selling, a data breach of the vaccine’s combination, stolen identities to get vaccinated in someone else’s place, misselling of the vaccine under a fake company’s name, and much more.   

Related Posts

News

GIABA Points Out Gaps in Nigeria’s AML/CFT Framework

The GIABA report revealed loopholes in the Nigerian AML/CFT framework and called Nigerian law enf...

GIABA Points Out  Gaps in Nigeria’s AML/CFT Framework Explore More

News

Wells Fargo Hit With $37M Fine Over Forex Fraud

Improper financial handling, defrauding others, and taking advantage of customers has become a no...

Wells Fargo Hit With $37M Fine Over Forex Fraud Explore More

News

MENAFATF Adopts Abu Dhabi Recommendations to Counter Money Laundering and Terrorism Financing

An international group based on the FATF format, MENAFATF, has adopted the Abu Dhabi recommendati...

MENAFATF Adopts Abu Dhabi Recommendations to Counter Money Laundering and Terrorism Financing Explore More

News

$2 Trillion Moved and Now Banks Resist Money Laundering Orders

According to the ICIJ journalist, BuzzFeed shared some documents disclosing the attitude of finan...

$2 Trillion Moved and Now Banks Resist Money Laundering Orders Explore More

News

ICC Qatar is going to have a seminar on money laundering and terrorist financing

The International Chamber of Commerce (ICC) Qatar is conducting a compliance awareness seminar on...

ICC Qatar is going to have a seminar on money laundering and terrorist financing Explore More

News

German Watchdog Extends N26 Measures to Prevent Money Laundering

BaFin, the German financial regulator, stated on July 17th, that it was extending its measures to...

German Watchdog Extends N26 Measures to Prevent Money Laundering Explore More

News

ECB Releases Paper Revealing Financial Crime Risks in Cross-border Payments

ECB has released a paper that reveals the financial risks associated with cross-border payments, ...

ECB Releases Paper Revealing Financial Crime Risks in Cross-border Payments Explore More

News

Surging Cryptocurrency Scams Target Lower Mainland Seniors

CARP of South Surrey/White Rock has found that the surge in cryptocurrency scams are a threat to ...

Surging Cryptocurrency Scams Target Lower Mainland Seniors Explore More

News

Members of Spalding Club Charged for Money Laundering Through Investment Scheme

Lincolnshire police reported suspected fraud cases in connection with a trading-based investment ...

Members of Spalding Club Charged for Money Laundering Through Investment Scheme Explore More

News

The US and UK Strengthen Ties Regarding Crypto Regulations, Says British Regulator

The Top British regulator FCA reported that the US and UK are strengthening ties on crypto regula...

The US and UK Strengthen Ties Regarding Crypto Regulations, Says British Regulator Explore More

News

AUSTRAC to Update Guidance for Threshold Transaction Reporting

AUSTRAC has made it mandatory for reporting entities to include a threshold transaction report (T...

AUSTRAC to Update Guidance for Threshold Transaction Reporting 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...

Nearly $30 Billion Laundered Through Canada’s Real Estate – Says TIC Explore More

News

e-KYC services introduced in Malaysia by InstaREM

Residents and expatriates in Malaysia can now make overseas payments safely and regularly through...

e-KYC services introduced in Malaysia by InstaREM Explore More

News

China’s Law Enforcement Authorities Issue Warning Against NFTs to Curb Financial Crimes

China’s three major banking regulators have issued a warning against non-fungible tokens (NFTs) w...

China’s Law Enforcement Authorities Issue Warning Against NFTs to Curb Financial Crimes Explore More

News

UAE to Include Crypto Framework in their 2021 Business Agenda

The financial watchdogs in the UAE are looking towards developing a detailed crypto framework in ...

UAE to Include Crypto Framework in their 2021 Business Agenda Explore More

News

FATF Claims Golden Visa Programs Raise Financial Crimes Activities

The international regulatory body, Financial Action Task Force (FATF), reported that Citizenship ...

FATF Claims Golden Visa Programs Raise Financial Crimes Activities Explore More

News

Macau Police Arrests Cross-border Money Laundering Group for Illicit Financing of HK1.1 Billion

A group of 22 individuals were arrested by authorities in Macau and HK for suspicions of being in...

Macau Police Arrests Cross-border Money Laundering Group for Illicit Financing of HK1.1 Billion Explore More

News

TSB Fined $3.5M on Account of Four AML Breaches

New Zealand’s High Court has fined Trustee Savings Bank (TSB) Ltd NZD 3.5 million following the b...

TSB Fined $3.5M on Account of Four AML Breaches Explore More

News

Dutch Central Bank Strikes Coinbase with €3.3 Million Fine over Anti-Money Laundering Failings

The Dutch Central Bank (DeNederlandscheBank) has charged Coinbase for having ineffective anti-mon...

Dutch Central Bank Strikes Coinbase with €3.3 Million Fine over Anti-Money Laundering Failings Explore More

News

The Financial Intelligence Analysis Unit Levies Fines Worth €2.2 Million in the First Half of 2023

The Financial Intelligence Analysis Unit fined €2.2 million in the first half of 2023. A constitu...

The Financial Intelligence Analysis Unit Levies Fines Worth €2.2 Million in the First Half of 2023 Explore More

News

Beware of Puppy Scams This Holiday Season – BBB

The Better Business Bureau (BBB) has warned people to be cautious of online puppy scams, especial...

Beware of Puppy Scams This Holiday Season – BBB Explore More

News

Google Pay Transactions Just Got More Secure

Previously, when you used Google Pay for transactions, it would only ask you to enter your PIN. A...

Google Pay Transactions Just Got More Secure Explore More

News

CBN Fines GTBank N128M for Failing to Meet AML and CTF Requirements

The Central Bank of Nigeria (CBN) has charged Guaranty Trust Bank (GTBank) with N128 million for ...

CBN Fines GTBank N128M for Failing to Meet AML and CTF Requirements Explore More

News

Sydney’s ‘Mini Casino’ Venues Suspected for Money Laundering

Sydney’s 10 “mini-casino” poker venues have been suspected of money laundering activities. Accord...

Sydney’s ‘Mini Casino’ Venues  Suspected for Money Laundering Explore More

News

“Beneficial Ownership Data Must be Structured, Centralised and Accessible”, Says GCFFC

According to the paper issued by the GCFFC, data must be structured, centrally collated, interope...

“Beneficial Ownership Data Must be Structured, Centralised and Accessible”, Says GCFFC Explore More

News

Leading MSB Industry Associations Introduce Best Practices For Anti-Money Laundering

The introduction of the best practices for anti-money laundering by leading MSB industry associat...

Leading MSB Industry Associations Introduce Best Practices For Anti-Money Laundering Explore More

News

IMF Urges Central Bank of Seychelles to Upgrade Transparency and AML Controls

The Central Bank of Seychelles (CBS) has been advised by the International Monetary Fund (IMF) to...

IMF Urges Central Bank of Seychelles to Upgrade Transparency and AML Controls Explore More

News

New fake ad alert system launched to fight online scams

According to ITV, the UK Scam Ad Alert tool – developed by the Advertising Standards Authority (A...

New fake ad alert system launched to fight online scams Explore More

News

FInTech solutions to be incorporated by Chinese banks

According to International Data Corporation (IDC), an international market intelligence firm, as ...

FInTech solutions to be incorporated by Chinese banks Explore More

News

Bithumb, Coinone and Korbit Team Up for FATF Travel Rule Compliance

Bithumb, Coinone and Korbit have founded a joint venture to facilitate all efforts for maintainin...

Bithumb, Coinone and Korbit Team Up for FATF Travel Rule Compliance Explore More

News

Shufti introduces react native app for customer convenience

Recently, Shufti launched its react native app for enhanced customer convenience. Shufti ...

Shufti introduces react native app for customer convenience Explore More

News

£23.8 Million Fined to MT Global for AML Non-Compliance

A Money Service Business (MSB) firm, MT Global, penalized by HM Revenue and Customs for breaching...

£23.8 Million Fined to MT Global for AML Non-Compliance Explore More

News

AUSTRAC Initiates Probe into Sportsbet and Bet365 over Money Laundering Suspicions

AUSTRAC launches investigations into gambling firms for suspicions of failing AML/CFT compliance,...

AUSTRAC Initiates Probe into Sportsbet and Bet365 over Money Laundering Suspicions Explore More

News

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...

SFC Imposed a HK$9  Fine on RIFA Future for KYC Failings Explore More

News

Malta-based Pilatus Bank Fined €5m Over AML & Terrorism Breaches

Pilatus Bank failed on various accounts, including identity verification of customer businesses, ...

Malta-based Pilatus Bank Fined €5m Over AML & Terrorism Breaches Explore More

News

Canada Seeks to Digitize ID-Documents for Enhanced Security Measures

Canada, Ontario’s government is working towards digitizing the identity documents and seeks publi...

Canada Seeks to Digitize ID-Documents for Enhanced Security Measures Explore More

News

UK to Propose Regulatory Protocols for Stablecoins

The government of the UK has declared incoming regulations for stable coins currency. It has also...

UK to Propose Regulatory Protocols for Stablecoins Explore More

News

UAE talks about developments in combatting the financing of terrorism

The NAMLCFTC inaugurated its second discussion on March 4 2021 and approved countermeasures that ...

UAE talks about developments in combatting the financing of terrorism Explore More

News

UK Government Aims to Recover £1 Billion Lost Funds Over the Next Decade

The UK Government has put technology as the front and centre force to fight crimes and reinforce ...

UK Government Aims to Recover £1 Billion Lost Funds Over the Next Decade Explore More

News

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...

UK Government Issues New Guidance On Data Collection Related To Self Custody Crypto Wallets Explore More

News

ICAIE Issues Report on Trade-Based Money Laundering in Free Trade Zones, Ports, & Safe Havens

The ICAIE released a new report called “The Dark Side of Illicit Economies and TBML: Free T...

ICAIE Issues Report on Trade-Based Money Laundering in Free Trade Zones, Ports, & Safe Havens Explore More

News

Increasing Financial Crimes Call to Establish a European Center of Excellence For AML Compliance

EU financial and anti-financial crime regulations are more complicated than before and they reinf...

Increasing Financial Crimes Call to Establish a European Center of Excellence For AML Compliance Explore More

News

Australia DTA Consults on Upcoming “Trusted Digital Identity Bill”

The consultation will facilitate the Trusted Digital Identity Bill, making digital identity syste...

Australia DTA Consults on Upcoming “Trusted Digital Identity Bill” Explore More

News

China’s Law Enforcement Authorities Issue Warning Against NFTs to Curb Financial Crimes

China’s three major banking regulators have issued a warning against non-fungible tokens (NFTs) w...

China’s Law Enforcement Authorities Issue Warning Against NFTs to Curb Financial Crimes Explore More

News

Nordic Banks Ignored Money Laundering Red Flags for Years, Leaked Audits Reveal

The Organized Crime and Corruption Reporting Project (OCCRP) has revealed in an audit that Nordic...

Nordic Banks Ignored Money Laundering Red Flags for Years, Leaked Audits Reveal Explore More

News

AMLC Freezes Assets of 16 Groups Labeled as Terrorist Organizations

The Anti-Money Laundering Council in the Philippines has frozen the accounts of 16 organizations ...

AMLC Freezes Assets of 16 Groups Labeled as Terrorist Organizations Explore More

News

Regulators Seize First Republic Bank and Sell a Portion of Assets to JPMorgan

Regulators seized First Republic Bank and sold a portion of its assets to JPMorgan Chase. This is...

Regulators Seize First Republic Bank and Sell a Portion of Assets to JPMorgan Explore More

News

FCA Imposed a $1.05M fine on Barclays Bank for “Oversight Failings”

The U.K. Financial Conduct Authority (FCA) on Monday revealed that it imposed a fine of 783,800 p...

FCA Imposed a $1.05M fine on Barclays Bank for “Oversight Failings” Explore More

News

Germany to Implement the 6th AML Directive to Secure Financial Firms

The Federal Government of Germany has decided to draft a law for money laundering operations. Eur...

Germany to Implement the 6th AML Directive to Secure Financial Firms Explore More

News

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...

United States Senate, UAE Government, and Spain Make Significant Efforts to Curb Money Laundering and Terrorist Financing Activities Explore More

News

FIAU Imposes €60,000 Fine on Audit Firm for AML Failings

€60,000 fine imposed on an audit company, for failing to report money laundering and suspected ta...

FIAU Imposes €60,000 Fine on Audit Firm for AML Failings Explore More

News

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...

US Treasury Department Introduces Beneficial Ownership Reporting Form to Enhance AML Measures Explore More

News

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...

Global AML Watchdog FATF Puts UAE on the Grey List Explore More

News

The Ringleader of a Crypto-Ponzi Scheme Arrested After a Flee Attempt

Mathew Piercey, a Ponzi scheme leader who defrauded $35 million for crypto mining and other inves...

The Ringleader of a Crypto-Ponzi Scheme Arrested After a Flee Attempt Explore More

News

N26 Banned by Italian Central Bank for Insufficient Money Laundering Controls

The central bank of Italy has banned German digital bank N26 from onboarding Italian customers af...

N26 Banned by Italian Central Bank for Insufficient Money Laundering Controls Explore More

News

Cambodia and China Strengthen Ties to Combat Illegal Online Gambling and Scams

China’s Premier Li Keqiang and Cambodia’s PM Hun Sen have given a green signal to strengthen thei...

Cambodia and China Strengthen Ties to Combat Illegal Online Gambling and Scams Explore More

News

FCA Fines TJM Partnership Limited £2 Million for Money Laundering

The Financial Conduct Authority has fined the investment firm TJM Partnership Limited £2m for ser...

FCA Fines TJM Partnership Limited £2 Million for Money Laundering Explore More

News

Ransomware Targets Outdated Microsoft Excel Macros to Deploy Attacks

Microsoft Security Intelligence notified users of a type of ransomware, called Avaddon, that uses...

Ransomware Targets Outdated Microsoft Excel Macros to Deploy Attacks Explore More

News

US Authorities Seize Bahamas Bank for Laundering $58 Million

It’s rumoured that Deltec, a Bahamas-based bank popular with crypto clients, is linked to a...

US Authorities Seize Bahamas Bank for Laundering $58 Million Explore More

News

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...

Rabobank’s Profits Drop Over Shut Down in Russia and Increased AML Costs Explore More

News

UN Warns of Increased Money Laundering Risk from Mekong Casinos

The UN officials claimed transnational criminal gangs are exploiting Southeast Asia’s gaming and ...

UN Warns of Increased Money Laundering Risk from Mekong Casinos Explore More

News

IMF Urges El Salvador to Restrict Cryptocurrencies as Legal Tender Amid Money Laundering Risks

The International Monetary Fund (IMF) is persuading El Salvador to revoke the initiative of makin...

IMF Urges El Salvador to Restrict Cryptocurrencies as Legal Tender Amid Money Laundering Risks Explore More

News

US Ambassador Highlights how Liberia can Improve its AML/CFT Laws

Monrovian embassy of the United States’s ambassador, Micheal A. McCarthy, supports the National R...

US Ambassador Highlights how Liberia can Improve its AML/CFT Laws Explore More

News

A lawsuit is filed against LifeLabs for a data breach incident

As reported earlier, the Canadian laboratory testing company, LifeLabs was hit with a cyber-attac...

A lawsuit is filed against LifeLabs for a data breach incident Explore More

News

Money Laundering Concerns Prompt Hong Kong Banks to Reject Crypto Transactions

Despite the Hong Kong government’s encouragement, two banks have rejected crypto activities...

Money Laundering Concerns Prompt Hong Kong Banks to Reject Crypto Transactions Explore More

News

FCA Fines ADM Investors for Violating Anti-Money Laundering Regulations

The UK regulatory department Financial Conduct Authority (FCA) fined $7.9 million to the commodit...

FCA Fines ADM Investors for Violating Anti-Money Laundering Regulations Explore More

News

Gary Gensler- Former CFTC Chair to Join President-Elect Biden’s team as Financial Expert.

A crypto-savvy and a CFTC (Commodity Futures Trading Commission) chair from President Obama’s gov...

Gary Gensler- Former CFTC Chair to Join President-Elect Biden’s team as Financial Expert. Explore More

News

Singaporean Banks Enhance Security to Combat Financial Crime

The Monetary Authority of Singapore (MAS) stated that the country’s banks are enhancing security ...

Singaporean Banks Enhance Security to Combat Financial Crime Explore More

News

MAS Ramps Up Efforts Against Financial Crimes With the Help of Data Analytics

Singapore’s central bank has revealed in a report on Wednesday that financial criminals will be p...

MAS Ramps Up Efforts Against Financial Crimes With the Help of Data Analytics Explore More

News

Saskatchewan Government Invests $1.66m to Support Fight Against Money Laundering

The Government of Saskatchewan is spending $1.66 million on the Civil Forfeiture Program to back ...

Saskatchewan Government Invests $1.66m to Support Fight Against Money Laundering Explore More

News

FinCEN Fines Puerto Rican Bank, Bancrédito, $15 Million on BSA Violation

Puerto Rican bank, Bancrédito, was fined $15 million by the Financial Crimes Enforcement Network ...

FinCEN Fines Puerto Rican Bank, Bancrédito, $15 Million on BSA Violation Explore More

News

The IRS Issues Last Minute-Warning To Avoid Tax Penalties

A new warning has been issued by the IRS with the introduction of an identity protection pin that...

The IRS Issues Last Minute-Warning To Avoid Tax Penalties Explore More

Take the next steps to better security.

Contact us

Get in touch with our experts. We'll help you find the perfect solution for your compliance and security needs.

Contact us

Request demo

Get free access to our platform and try our products today.

Get started