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AMLC Demands Rigid Security Measures for Non-Compliant Businesses in the Philippines
The Anti-Money Laundering Council (AMLC) is pushing for more strict due diligence measures on del...
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Nigeria’s Senate Passes Bill to Tighten Money Laundering Rules
Nigeria’s Senate has passed a bill that is aimed at improving the country’s money laundering regu...
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SRA Receives Fewer AML Violation Reports from England & Wales Despite Sanctions Drive
Anti Money Laundering (AML) violations in England & Wales reported to the Solicitors Regulati...
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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 ...
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FCA Hints Why only 15% of Crypto Firms Received Regulatory Approval
The UK financial watchdog has approved only 41 registration applications of crypto firms out of 3...
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AMLC Downgrades Terror Financing Risks in the Philippines From High to Medium-High
According to the anti-money laundering council, the Philippines’ terrorist and terrorism fi...
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ICAEW and B20 Task Force to Introduce Recommendations For Combating Financial Crimes
Policies for anti-money laundering and terrorist financing compliance will be introduced to comba...
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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...
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Massive Cyberattack on Australia Uses Cryptojacking Exploits
According to the Australian Cyber Security Centre, a group of “state actors” hacked Australian ne...
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Amazon Warns UK Customers Over Rising Threat of Impersonation Scams
Amazon has cautioned UK customers about the rising threat of impersonation scams via phone calls,...
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FCIU Uncovers Money Laundering Patterns Through Social Media Scams
South Yorkshire law enforcement authority has seized EUR 70,000 placed in the illicit gambling ac...
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Poloniex Agrees to Pay $7.6M in Settlement of Sanctions Violations
In a settlement with the Office of Foreign Asset Control (OFAC), Poloniex LLC, a former subsidiar...
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24 scammers arrested on money laundering charges
Government officials have arrested over 24 money laundering suspects due to an online fraud opera...
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Biden’s Administration Announces New Timeline for AML Initiative and Beneficial Ownership Rules
FACT’s anti-money laundering efforts are updated in the Biden Administration’s Spring 2023 Regula...
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Swiss Court Seeks $45m Compensation in Credit Suisse Money Laundering Case
Federal prosecutors in Switzerland are seeking compensation of $45 million in the Credit Suisse m...
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Singapore Now Requires Developers to Comply with New AML/TF Regulations
The Singaporean government will implement a new anti-money laundering and anti-terrorism financin...
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Bank of Ghana to Introduce Digital Currency in ‘Near Future’
The Governor of the West African nation’s central bank, Ernest Addison, announced the news of Gha...
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Major US Twitter accounts hacked in Bitcoin scam
Billionaires Elon Musk, Jeff Bezos, Barack Obama, Joe Biden and Bill Gates are among the many US ...
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US DOJ Files Cases to Stop Russian Money Laundering Networks
The US DOJ (Department of Justice) filed two cases in the latest action to disrupt money launderi...
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Shufti’s Age Verification Solution Approved by KJM
Germany’s Commission for media, Kommission für Jugendmedienschutz (KJM), has approved Shufti’...
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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 ...
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Non-compliant Crypto Accounts will Face Immediate Closure from Banks – Says CBN
Nigerian banks are ordered to track and freeze non-compliant crypto accounts, while banks that fa...
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AML/KYC Non-compliance Penalties Drop by 40% in the Second Half of 2021
KYC/AML non-compliance penalties have dropped by 40% in the second half of 2021. However, this do...
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Following an FCA Crackdown, Cryptocurrency Investors to Wait 24 Hours Before Completing Their Transactions in the UK
The Financial Conduct Authority (FCA) crackdown forces new crypto investors in the UK to wait 24 ...
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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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Beware of Puppy Scams This Holiday Season – BBB
The Better Business Bureau (BBB) has warned people to be cautious of online puppy scams, especial...
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Massive Cyberattack on Australia Uses Cryptojacking Exploits
According to the Australian Cyber Security Centre, a group of “state actors” hacked Australian ne...
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FSA Imposed £247,324 Fine on Standard Bank for “Serious Regulatory Failings”
The Isle of Man Financial Services Authority (IOMFSA) has imposed EUR 247,324 fine on Standard Li...
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FATF Examines Technology use in Making AML/CFT More Effective
FATF has recognized the importance of combining human input and manual review with automation for...
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Large Korean bank to pay a huge fine for violating AML law
NEW YORK, April 20 (Reuters) – Industrial Bank of Korea 024110.KS, one of South Korea’...
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Bank of Thailand Issues Warning Against Digital Fraud
The central bank advised individuals not to accept information that appears fake, nor to perform ...
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Ireland’s Central Bank Found Gaps in Anti-Money Laundering Compliance Practices
Ireland’s Central bank has found that certain financial firms are lacking in regards to anti-mone...
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“Illicit Actors are Turning to E-commerce as a Money Laundering Tool” UAE Central Bank Discloses
The United Arab Emirates central bank sees increased risks of illicit financial flows emerging fr...
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China’s Top Leaders Indicate the Further Tightening of Financial Regulations
Chinese leaders have indicated that the country will move to further strengthening of financial r...
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FATF Updates on South Africa’s AML Compliance Progress
A report on South Africa’s progress in implementing AML procedures to prevent money launder...
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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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Coronavirus outbreak exploited by internet scammers
Americans are advised to stay watchful of cybercriminals’ attempts to misuse the life-threatening...
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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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OSCE – Eurasian Forum Combines to Counter Money Laundering and Terrorism Financing
The Organisation for Security and Co-operation in Europe (OSCE) supported the joint efforts with ...
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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...
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Ledger Owners Scammed worth 1.1 Million XRP
Earlier this year Legsdger customers faced a leak of email and personal information. Now they are...
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The Brussels Threatens Emirates with Sanctions for Illicit Financial Flow
Think tank has ranked emirates to be the top destination for illicit financial activities. Brusse...
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Vending machines can now be operated with Bitcoins
Vending machines used by key Asia-Pacific soft-drink bottler and distributor Coca-Cola Amatil wil...
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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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US Attorney General Warns about the Identity Theft this Holiday Season
The Federal Trade Commission states that more than 650,000 citizens’ identities have been comprom...
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Turkey to Ban Cryptocurrency Payments to Avoid Financial Crime
The Central Bank of Turkey is to ban the use of cryptocurrency payments by 30th April. This initi...
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Clubs to Adopt Digital Wallets as NSW Reveals Money Laundering Via Machines
The clubs in Australia are to adopt the digital wallet for poker machines as the regulators disco...
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Toronto: 4 People Charged for Alleged Identity Theft and Fraud Worth Millions
Toronto police seized millions of dollars, Porsche Panamera, and other identity details after a y...
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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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The UK Introduces Beneficial Ownership Register for Overseas Entities
The implementation of the UK government’s Economic Crime (Transparency and Enforcement) Bill has ...
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Canada Faces 400% Increase in the Cryptocurrency Fraud
The Canadian police department is warning people to protect their personal information and perfor...
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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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Money Remittance in Singapore at the Highest Risk of TF
The money remittance sector and banking sector in Singapore has become the highest target for cri...
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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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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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FATF to Blacklist Uganda Over Money Laundering
The Executive Director of the Finance Intelligence Authority, Sydney Asubo stated that the FATF h...
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FinCEN and OCC Fine Texas Bank $9 Million for BSA-AML Violations
A Texas community bank was fined by the Financial Crimes Enforcement Network (FinCEN) and the Off...
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Canada Financial Crimes Agency Questioned on Effectiveness of Anti-Fraud Measures
Anti-fraud experts are reporting concerns regarding the Liberals’ newly announced Canada Financia...
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Federal Prosecutors Investigate Trump’s Social Media Company for Money Laundering
Trump’s social media company is reportedly under investigation by federal prosecutors in New York...
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US Treasury Targets Russian Oligarchs as Part of New to Tackle Illicit Finance
Strategy imposed by the US Treasury to combat illicit finance targets Russian Obligarch as part o...
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PayPal Announces Suspension of UK Crypto Purchases from October
PayPal announced a temporary ban on UK cryptocurrency purchases, demonstrating their swift compli...
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New Zealand Encounters Spike in Online Identity Theft
Recent research of New Zealand’s financial market has shown a spike of 86 percent in identity fra...
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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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Star Casino’s Share Tumbles 21% Following Money Laundering Allegations
Individuals banned from gambling at the Star casino in Sydney had been permitted to gamble at Sta...
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BBB Warns About the Potential Scams Fuelled by the COVID Vaccine Passports
As people around the world are increasingly becoming vaccinated, the concern about the vaccine pa...
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MEF Implements New Tax Rules on Commercial Gambling Businesses to Curb Financial Crime
The Ministry of Economy and Finance (MEF) brought about new tax rules on commercial gambling busi...
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PSR Orders UK Banks to Reimburse Customers Tricked by Payment Fraud
PSR has advised UK banks to compensate customers who have been the victims by APP (authorized pus...
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Dubai Court Sentences Gang of 18 for Charges of Money Laundering
The Dubai Criminal Court has convicted a gang of 18 individuals belonging to different countries ...
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Ireland’s Central Bank Found Gaps in Anti-Money Laundering Compliance Practices
Ireland’s Central bank has found that certain financial firms are lacking in regards to anti-mone...
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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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ICAEW Calls for Professional Scepticism to Mitigate Money Laundering in UAE
The Institute of Chartered Accountants in England and Wales (ICAEW) and the UAE’s Accountants &am...
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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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