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SkyCity Entertainment Earmarks $29m for Anticipated AML/CFT Regulations Fine
Australian gaming company, SkyCity Entertainment, has provisioned $29m in anticipation of a civil...
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Ransomware attacks increase as more people work from home
According to a study published by the cybersecurity firm, Proofpoint, there has been an increase ...
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UAE and Egypt Collaborate to Fight Money Laundering and Terrorist Financing
UAE has signed MoU with Egyptian Money Laundering and Terrorist Financing Combating Unit to stren...
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US Cybersecurity Head Fired by Trump for Discrediting the Voter Fraud.
Trump has fired the head of cybersecurity, Christopher Kerbs, for beinhg unloyal to the claims of...
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Bermuda Monetary Authority Tightens AML Control as Threat of Money Laundering Increases
Bermuda Island was rated high in the 2020 Money Laundering and Terrorist Financing Risk Assessmen...
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Switzerland Falls Behind in the Fight Against Money Laundering
The Parliament of Switzerland has voted against the requirement of performing due diligence on la...
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FATF issues new guidance on Digital Identity systems
A guidance paper has been issued by the Financial Action Task Force (FATF) to assist governments,...
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Deutsche Bank Subordinate DWS Fined $25 Million for AML Violations
In the latest enforcement action, the Security Exchange Commission (SEC) has fined $25 million to...
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FBI Warns About the Emerging Fraud Related to COVID-19 Vaccine
The Office of Inspector General, U.S Department of Health and Human Services, FBI, and Centers fo...
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Council of Europe Urges Montenegro to Step Up AML Measures
The Council of Europe stated in a recent report that Montenegro lacks sufficient measures to inve...
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FBI Seizes $1.7M During 3-Month Crypto Operation
During a 3-month operation from March to May, the FBI seized $1.7m worth of cryptocurrencies, inc...
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LifeLabs Hit By a Data Breach Affecting Personal Information of 15 Million People
Canadian laboratory testing company, LifeLabs, disclosed on Tuesday that it had been a victim of ...
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Transnational Organised Crime at Peak in Latin America through Cryptocurrencies
Transnational criminal organisations that have moved billions of dollars across Latin America are...
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NYDFS Reminds BitLicense Holders to Follow Rules
NYDFS (New York Department of Financial Service) has restated custody and disclosure requirements...
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IAMAI To Set Up A Board To Ensure Voluntary Compliance With AML & KYC
New Delhi: On Tuesday, June 1st, the Internet and Mobile Association of India (IAMAI), announced ...
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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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Bipartisan Senators Propose Amendment of the National Defense Authorization Act to Prevent Crypto Money Laundering
Bipartisan lawmakers in the US amended the obligations of anti-money laundering and updated the N...
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TD Banking Group Expects US Penalties for Money Laundering
TD Banking Group disclosed that they expect fines and non-compliance penalties related to US auth...
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Silvergate Bank ‘Aided and Abetted’ FTX Fraud, Alleges Lawsuit
The latest class action filings in the string of lawsuits allege Silvergate Bank over the last tw...
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UN Warns of Increased Money Laundering Risk from Mekong Casinos
The UN officials claimed transnational criminal gangs are exploiting Southeast Asia’s gaming and ...
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Interpol Operation Intercepts Financial Cybercrime Worth $83 Million
Due to an exponential rise in online financial crimes in the Asia Pacific region, an INTERPOL-coo...
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Danish Gambling Operator Reports Tipwin to the Police for AML Failings
Then danish gambling operator Spillemyndigheden has reported Tipwin to the police for violating t...
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Cybercrime to Surge in Cryptocurrency Even in Post COVID-19 Economy
According to a report by Kaspersky Lab about cybersecurity and antivirus, in the post-COVID-19 wo...
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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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Cryptocurrency criminals are lurking on Youtube
Cryptocurrency criminals are lurking on YouTube, a recent lawsuit filed by Apple co-founder Steve...
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Seattle Airport Resists Federal Push for Facial Recognition
Facial recognition technology won’t be installed at the boarding gates of the Seattle-Tacoma Inte...
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UK Approves New Age Verification Laws to Protect Children
The UK government approved the “Online Safety Bill,” which contains measures to protect children ...
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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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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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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...
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Philippines Extends Registration Period for Amended AML Regulations
The Anti-Money Laundering Council in the Philippines has revisited the guidelines of the Anti-mon...
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UAE Grants Russian Lender a Rare Banking Licence to Operate in the Region
The CBUAE has approved a banking licence for Russia’s MTS bank, a move that risks deepening...
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N1m Fine Imposed on Financial Institutions for Suspicious Transactions Reporting Failing
A fine of N1m is directed by the Nigerian Government on any financial or non-financial institutio...
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Swiss Watchdog FINMA Mandates AML Policies on Crypto
The new legislation is trying to combat money-laundering following a series of major scandals in ...
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U.S. SEC chair nominated to regulate crypto oversight
William Barr, United States Attorney General announced that President Trump is likely to task Jay...
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GIABA to Release Liberia’s AML and CFT Compliance Evaluation Report
The GIABA has finally released its findings about Liberia’s gains and challenges in the fight aga...
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Biden Going After Crypto Tax Evaders with Data Sharing Initiative
President Biden’s administration is proposing global cooperation to curb the threat of crypto-rel...
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US Treasury Hits Bittrex with $53 Million Fine Over Sanctions Violations
The US Treasury Department has imposed a $53 million fine on Bittrex for violating sanctions and ...
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UK Finance Sector and Police Stopped £32m Fraud in First Half of 2021
The ‘Banking Protocol’ introduced in 2016 has now helped prevent financial fraud worth £174...
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Iran’s President Has Called for Legal Framework For Crypto Trading
Hassan Rouhani, the Iranian President, wants to legalize crypto trading and safeguard national in...
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SEC Warns Wall Street to Enhance AML Systems
US regulatory authority, the Security and Exchange Commission (SEC), warns Wall Street brokers of...
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Singapore Under High Scrutiny Amid Money Laundering Scandal
Singapore, an immaculate business hub, is under fire for one of the largest money laundering case...
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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...
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Digital IDs Becoming Useful for Fighting Financial Crimes
The use of digital IDs has proved to be advantageous for fighting financial crimes. Research has ...
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Malta Faces 200% Spike in Money Laundering Cases
Financial Intelligence Analysis Unit (FIAU), Malta’s financial regulator, received a 200% increas...
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Chinese regulators extend financial support to bring Hong Kong, Macau closer
China’s financial regulators revealed an extensive plan to ease investments and cross-border tran...
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FINRA Issues Notice to Remind Firms of Nation-wide AML/CFT Priorities
FINRA has issued a notice reminding all member firms to comply with AML/CFT priorities as mandate...
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Barclays Prohibits UK Clients from Sending Debit and Credit Payments to Binance
Barclays has stopped UK customers from transferring funds to Binance after the Financial Conduct ...
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New Zealand Forces Banks To Strengthen Their Security Measures
New Zealand’s parliamentary committee has urged banks and financial institutes to bolster their s...
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Saudi Arabia Uncovers Massive Fraud worth SR11.5 Billion
Law enforcement authorities in Saudi Arabia arrested at least 32 suspects including businessmen, ...
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FBI Warns of Tech Support Scammers Compromising Financial Accounts
The Boston Division of the Federal Bureau of Investigation (FBI) has warned of an increase in num...
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Taiwan Finalise New Regulations for Offshore Crypto Exchanges
Taiwan is set to disclose new obligations for offshore crypto exchange companies, with rigid Anti...
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UK Mandates Enhanced Due Diligence on High-Risk Jurisdiction
Authorities in the UK rolls our new regulatory measures to perform enhanced due diligence for hig...
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Low-orbit internet banking fraud claim supposed to be a bunch of space junk
A case of supposed low-orbit digital banking fraud has taken a turn, with the US Attorney’s...
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FATF encourages Digital ID during Coronavirus epidemic
The Financial Action Task Force (FAFT) is advocating the use of digital identity technology to se...
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The UAE Hosts the Egmont Plenary to Promote Global Anti-Money Laundering Efforts
The UAE Financial Intelligence Unit is hosting this year’s Egmont Plenary event, which is e...
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Lake County Attorney Launches a Financial Crimes Unit to Combat Fraud
Lake County state’s attorney announced a new Financial Crimes Unit to deal with money laundering,...
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UK Treasury Committee Launches Inquiry into the Role of Crypto Assets and the Associated Risks
The Treasury Committee of the UK’s House of Commons has urged the public to submit their take and...
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Art Dealers Urged to Intensify Regulatory Actions Against Money Launderers
The Department of Justice is establishing new rules to combat financial crimes via the art market...
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California to Reopen its Economy with COVID Vaccine and Testing Requirements
After more than a year of COVID-19 restrictions, the State of California to finally reopen its ec...
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8.3 million users affected in ‘Freepik data breach’
Freepik, a free photo and graphics site, has disclosed a major data breach that affected nearly 8...
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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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Over £1 Million Lost to Covid Business Support Fraud in Leeds
Leeds City Council papers have shown 74 cases of Covid business support fraud where more than £1 ...
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Drug Trade Proceeds Laundered Through Digital Currency ATMs, Says DEA
According to the U.S Drug Enforcement Administration’s report, digital currency ATMs are growingl...
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UAE’s Economic Integration Committee Highlights Files of Mutual Investigation with FATF
In the latest Economic Integration Committee meeting, the UAE’s financial regulatory authorities ...
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FMA Sues Tiger Brokers for AML/CTF Breaches
The Financial Markets Authority (FMA) has filed court proceedings against Tiger Brokers for alleg...
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BSA-AML Compliance Group Disclose Names of Annual Gaming Conference Speakers
The BSA-AML Compliance group has revealed the names of the speakers attending the annual gaming c...
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Iran’s Finance Ministry Releases List of Individuals Suspected of Money Laundering
The Finance Ministry of Iran has released its first list of individuals suspected of having links...
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Equifax Survey shows Britain Prefers Biometric Verification
Credit reporting agency, Equifax, reports that Brits are much more open to adopting biometric aut...
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South Africa Issues Stricter Guidelines for Crypto Traders
To prevent the surging cases of financial crime, South Africa has introduced rigid regulations fo...
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Victor Fredung Warns Businesses about the Rising Cybercrimes During Halloween
Halloween is one of the most awaited festivals throughout the year. While people plan different t...
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UK Amends Corporate Act to Combat Economic Crimes
The UK government reformed the Economic Crime and Corporate Transparency Act to expand regulation...
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