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MGA Issues 10 Warnings and Revokes 6 Licenses of Gaming Operators
MGA issued ten warnings and revoked six gambling licences in 2022. According to the report, the M...
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Crypto firms Halt Business in China After an Intense Government Crackdown
Cryptocurrency businesses have stopped their operations after the government led an intense inves...
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Cambodia Under FATF’s Tight Monitoring Over Weak AML Measures
Cambodia is under the tight monitoring of FATF over weak AML measures. According to Transparency ...
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EU Endorses New Crypto Tax Data Sharing Rules
Strict obligations are set to be implemented in the EU’s digital assets industry. Tax authorities...
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German Law Firm Denies Money Laundering Allegations Against Deutsche ReGas
Hengeler Mueller, a German law firm, investigated the loopholes in the Anti-Money Laundering (AML...
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Hong Kong Police Seizes $65 Million From Triad Controlled Money Laundering Ring
Hong Kong police detained 458 people and seized $65 million in connection with an extensive crim...
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Kenyan Authorities Freeze Accounts of Two Nigerian Companies for Allegedly Laundering Sh6 billion
Kenyan authorities have frozen accounts containing Sh45 million belonging to two Nigerian compani...
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ABLV Asset Management Fined with €57,217 for AML/CFT Violations
FCMC (Financial and Capital Market Commission) has enforced a fine of €57,217 on ABLV Asset Manag...
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Japan Revises Six Laws to Tackle Money Laundering in Cryptocurrency
The Japanese government is pondering enacting a new law. The “bundling bill” proposed...
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EU Urges the UK to Push Harder on Tax Avoidance and AML Regulations
The European Union has shown concerns regarding legal permits which allow financial services prov...
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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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India to Introduce Physical Cryptocurrency Bank Branches
India has been rapidly adopting the changes in the digital world and introducing physical banks f...
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South Africa Introduces Biometric Child Registration To Stop ID Theft
The Department of Home Affairs (DHA) in South Africa recently introduced a new method of biometri...
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US Accuses Crypto Firms for Serving as Money Laundering Hub
The US Treasury’s department targeted the crypto mixers to combat internationally operated financ...
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Interpol Calls for Global Action to Prevent “Ransomware Pandemic”
Interpol has called for united global action to be implemented against ransomware attacks, follow...
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US Authorities Accuse Russian Oligarch of Money Laundering and Bank Fraud
US authorities have accused Russian oligarch Viktor Vekselberg of conspiring to launder money and...
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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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Swiss Courts to Return Millions to Sanctioned Russians
The Swiss courts have decided to pay the stolen millions of dollars back to the sanctioned Russia...
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First Canadian bank introduces digital ID verification
Digital Identity is progressing in Canada, with a new bank account opening process backed by digi...
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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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Taiwan FSC Fines Taishin Int’l Bank For Inadequate Internal Controls
Taishin Commercial Bank of Taiwan penalised for defrauding NT $347 million from customers and fai...
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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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Biden Increases 50% Budget for FinCEN to Omit Financial Crimes
President Joe Biden of the USA is pushing a plan for a 50% increase in the budget set aside for t...
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Mexico: Federal Anti-Money Laundering Agency Freezes 1352 Accounts for Money Laundering
On Tuesday, the police and federal anti-money laundering agency said that they have frozen 1352 b...
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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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Central Bank of Bahamas Calls for Stringent Due Diligence in the Wake of FTX Collapse
The Bahamas’ Central Bank has called for stricter due diligence while moving funds in the w...
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“We Reaffirm Our Full Support for FATF’s Efforts Against Financial Crime” – G20 Leaders
According to the Rome Declaration, G-20 leaders ensure full support to back FATF recommendations ...
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Visa, Mastercard Face FTC Inquiry Over Debit Card Transactions
Visa Inc. and Mastercard Inc. are once again facing inquiries by the Federal Trade Commission ove...
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HMRC Fines Real Estate Agencies £500,000 for Anti-Money Laundering Violations
HMRC has issued a total of £519,645 in fines to 68 estate agents that failed to comply with rule...
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Melbourne Casino Crown Faces New Money Laundering Scandal
Crown’s licence for its Sydney casino has been suspended after an investigation revealed it facil...
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Blue Star Planet to Pay £620,000 for AML Failures Uncovered by Gambling Commission
Blue Star Planet which was trading as 10Bet to pay £620,000 ($746,716) after it was found guilty ...
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Investment platforms on target of Criminals to Launder Stolen COVID Relief funds
Sophisticated fraudsters with expert knowledge in tech are stealing the COVID-19 relief funds fro...
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Californian man apprehended in Moorpark ID theft case
A 37-year-old man in the Californian city of Bakersfield was arrested on Wednesday on suspicion o...
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Russian Central Bank Still Saying “No to Use of Crypto in Settlements”
Russia’s Central Bank has put another wrench in the pro-business Ministry of Finance’...
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EU Suggests Blacklisting UAE Following “Dubai Uncovered” Leaks
The EU has suggested blacklisting UAE under the “Dubai Uncovered” leaks depicting how sanctioned ...
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Mexico: Federal Anti-Money Laundering Agency Freezes 1352 Accounts for Money Laundering
On Tuesday, the police and federal anti-money laundering agency said that they have frozen 1352 b...
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The US Treasury Department OFAC Enforces Whistleblower Programmes
According to the US Treasury’s Department Office of Foreign Assets Control (OFAC), companies must...
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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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Defendants plead guilty of allegations in Medicare Fraud in U.S. District Court
Two defendants, Jessica Jones from Colorado, and Elizabeth Putulin from Florida pleaded guilty to...
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Canada’s Federal Agencies to Consult on Anti-Money Laundering and Counter-Terrorism Measures
The Canadian government has launched a public consultation to strengthen the country’s anti...
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Moroccan Charity, Najiba Foundation, Faces Account Termination by ING Bank for AML Failures
Internationale Nederlanden Groep (ING) wants to terminate one of the largest Moroccan charity fou...
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1803 Arrested in Money Laundering Crackdown Coordinated by 27 Countries
In a major money laundering crackdown, European police identified more than 18,000 money mules, a...
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A Trust Company Penalised for Opening a Doorway to Money Laundering
A team of accountants and economists have been fined by a court in Channel Island for neglecting ...
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NY Lawmakers Approve Legislation Against Financial Fraud
Michael Gianaris, Deputy Leader of the Senate, recently announced his legislative measures to pro...
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FATF Urges Qatar to Increase its Efforts Against Money Laundering
A recent FATF evaluation of Qatar’s anti-money laundering procedures says local regulators must w...
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‘EU Has Fragmented Approach to Combat FinCrime’, Says ECA
The European Court of Auditors (ECA) has identified weaknesses in the Anti-Money Laundering polic...
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FCA Takes NatWest to Court over Money Laundering Charges
The National Westminster Bank has been accused of neglecting the anti-money laundering regulation...
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Danish Gaming Regulator Sanctions Unibet Over AML Violations
Spillemyndigheden, the Danish Gaming Regulatory Authority has sanctioned Unibet for failing to co...
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Financial Fraud Alerts in the UK are Most Prevalent in Crypto Firms, Reports FCA
FCA has labeled crypto as the top sector for financial scam warnings in the UK. As of now, there...
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Canada’s Real Estate a Safe Haven for Money Laundering, Confirms Intel
Intel has confirmed the findings of CISC’s report saying that Canadian real estate is a safe have...
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Leaked Draft: EU Plans to Ban Privacy Enhancing Crypto Coins
CoinDesk has received a leaked draft of the money laundering bill, disclosing plans of the Europe...
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UK Customers Losse £580m to Identity Scammers in First Half of 2023
UK Finance disclosed that identity theft is a proliferating scam, and they recorded 1.4m fraud ca...
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EBRD and Central Bank of Jordan Raise Awareness Against Financial Crime
EBRD and the Central bank of Jordan join hands in running campaigns to raise awareness for the tr...
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UK Fines Dixons Carphone for Massive Breach
Dixons Carphone is one of the largest electronics and phone retailers in the UK. Recently British...
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Singapore Seizes $736m Worth of Assets in Money Laundering Investigation
Singapore police have arrested 10 foreigners in the money laundering operation and seized $736m w...
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Canada to Update AML Laws for Payments Services, FinTechs and Crowdfunding Platforms
The Canadian government’s federal budget announced that new regulations will be implemented to up...
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Arizona Bank Used to Funnel 11 Million USD in a Money Laundering Scheme
According to Federal prosecutors, a money-laundering scheme has been successful in funneling $11 ...
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Colombian Financial Crime Unit Detects $20 Billion Potentially Linked to Money Laundering
Colombia’s Financial Crimes Unit has detected $20 billion in financial operations that are potent...
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Increasing Incidents of Fraud Becoming a Threat to UK’s National Security: UK Finance
Automated systems prevented approximately 736 million pounds ($1 billion) from being stolen throu...
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Cryptocurrency brought under AML rules in Singapore
Coinpip, the Singaporean cryptocurrency provider, has closed down its operations, in spite of dec...
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Brazil to Introduce Facial Recognition to Verify People Wearing Masks at Airports
Countries across the globe are taking necessary steps to introduce facial recognition at the airp...
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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...
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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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Lawrence man indicted of identity theft found guilty
BOSTON (AP) — A man charged with using another person’s Social Security number to illegally obtai...
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“Crypto Should Be Regulated, Not Prohibited”, Says ECB Vice President
After his statement in May that declared cryptocurrencies as a risky investment, the Vice Preside...
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UKGC Revoked IMME’s Licence for AML Non-compliance
Licence of IMME was revoked by the UK Gambling Commission for not complying with the Anti-Money L...
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Swiss Govt. to Amend Banking Act for Press Freedom in Finance Sector
The Swiss Government has signaled to amend the banking act for press freedom in the finance secto...
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Canada Seeks to Digitize ID-Documents for Enhanced Security Measures
Canada, Ontario’s government is working towards digitizing the identity documents and seeks publi...
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Chinese Watchdog Taking Action Against Many in the Massive Bank Fraud
The biggest bank fraud in China pushed the government to arrest hundreds of suspects. Regulators ...
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Phase One of the Crypto Regulatory Framework in Switzerland Begins
As of today, phase one of the regulatory framework regarding the cryptocurrency and blockchain in...
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Latin America’s Private Investment Funds at Risk of Money Laundering
Private investment funds are exposed to money laundering as they contain a number of structural r...
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Namibia Launches Cyber Security Council to Curb e-Fraud
Namibia has established a cyber security council that would act as a useful forum for discussions...
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