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MAS Finalises New Data-sharing Platforms for the Banking Sector
MAS has developed a new platform that will allow banks to securely share information and warn eac...
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Europol Arrests 106 Suspects in Money Laundering, Online Fraud Case
The organised crime operation involved phishing scams and numerous business email compromise atta...
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The Nigerian Bar Association (NBA) Introduces Anti-Terrorist Financing, Anti-Money Laundering Laws
Lawyers in Nigeria are being instructed to follow anti-money laundering and terrorist financing l...
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Uganda Remains Greylisted by FATF for Money Laundering
There will be no change to Uganda’s status on the “grey list” due to the countr...
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Vietnam’s Deputy PM Approves National Action Plan for the Prevention of Financial Crime
Vietnam’s Deputy Prime Minister Signed a National Action Plan for the control and prevention of M...
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Ransomware gang failed to deploy an attack against 30 US firms
A ransomware attack was blocked by a group by the Cybersecurity firm Symantec known for demanding...
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Legal Challenges Against TikTok for Breaching Child Privacy Policy
TikTok, the most trending social media application in the present times is facing legal actions f...
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SA Government Passes New Legislation to Avoid FATF Gray list
South African government has passed two crucial legislations to prevent potential greylisting by ...
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China’s cyberspace regulators approve 224 blockchain ventures
China’s Office of the Central Cyberspace Affairs Commission (OCCAC) has recently announced a new ...
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Atomic Wallet Hack Results in $35 Million Loss as Investigation Continues
Atomic Wallet users have reported losing millions of dollars worth of cryptocurrency. It was anno...
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UAE adopts digital identity and blockchain to fight COVID-19
Taking into account the recent Coronavirus outbreak, UAE’s Ministry of Community Development (MOC...
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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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AMLC Reports Steady Rise in Phishing and Hacking Attacks in the Philippines
The Anti Money Laundering Council (AMLC) has reported a steady rise in phishing and hacking attac...
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FATF puts South Africa and Nigeria on Anti Money Laundering Gray list
The global financial watchdog puts Africa’s two biggest economies on Anti-money laundering grey l...
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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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CBN, NFIU to Monitor Illicit Crypto Transactions in Centralized Exchanges
The CBN and NFIU have been urged to track illicit transactions in cryptocurrency by engaging with...
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FinCEN Warns Banks of Potential Russian Sanctions Evasion
The Financial Crimes Enforcement Network (FinCEN) has warned banks of possible suspicious practic...
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AUSTRAC Partners With UK Counterpart to Fight Fraud
The financial intelligence agency has announced AUSTRAC has entered a new partnership with a UK c...
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Research and Data are Key to Developing Fair Crypto Regulations, Say Blockchain Experts
As global regulators are looking to have control over crypto, blockchain analysts say that lawmak...
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UAE central bank alerts about fraud attempts related to Coronavirus epidemic
Bank customers are warned of potential fraud by the UAE Central Bank. According to the bank, “Fra...
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FACT Urges Treasury to Implement Landmark Corporate Transparency Act
FACT has urged the treasury department to impose crucial changes to draft regulations and impleme...
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Law firm Clyde & Co. fined $635K for Breaching UK Money Laundering Laws
Global law firm Clyde & Co. was fined £500,000 ($635,613) on 11 January for multiple breaches...
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FATF Report Highlights Weaknesses in South Africa’s AML Systems
South Africa has a solid legal framework to combat money laundering and terrorist financing but h...
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FinCEN and Federal Reserve Board Reducing the Bar for International Transactions
The FinCEN and Federal Reserve Board are planning to reduce the threshold for international trans...
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Regulators in Hong Kong Urge Banks to Accept Cryptocurrencies
Hong Kong banks are worried about regulatory repercussions for their crypto clients if money laun...
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FCA Dismisses Temporary Permissions of 4 EU Firms Operating in the UK
UK’s Financial Conduct Authority (FCA) has called out EU firms operating in the UK to meet their ...
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Kenya Flags Betting Jackpots as Possible Avenues for Money Laundering
Kenya has flagged the mega jackpots paid to the punters in the country as the possible avenues fo...
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FinCEN Implements Stringent KYC Regulations For Digital Wallet
The USA Treasury Department has proposed KYC- Know Your Customer Regulations for the digital asse...
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ECB Will Be Launching Digital Euro Project
An electronic equivalent of banknotes and coins, the digital euro will likely be a digital wallet...
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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 ...
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RBI to Strengthen KYC Guidelines for the Crypto Industry
IndiaTech has suggested enhancing the KYC guidelines and obligating the cryptocurrency industry t...
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New York man charged with trafficking credit card details
According to a federal indictment, Vitalii Antonenko, 28, was alleged in the U.S District Court f...
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CBR to Restrict Crypto-Related Transactions to Prevent Financial Crime
The Central Bank of Russia is limiting ways for cryptocurrency investments including blocking pay...
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Chinese Officials to Face Scrutiny Over their Financial Affairs in Hong Kong
Hong Kong’s banks will take extra measures to monitor transactions by Chinese politically connect...
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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...
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SEC Updates Regulatory Disclosures for Chinese Issuers Amid Crackdown
Chinese businesses, as per a ruling by the SEC, are directed to present additional disclosures re...
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US Law to Ban Shell Companies Runs into Delays
A new US law to prevent businesses from tax evasion using shell companies has been delayed at the...
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Singapore Scammers Launder Money Through Online Gambling
Singapore police seized US $736 million worth of cryptocurrencies and virtual assets from money l...
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Department of Finance Announces Commencement of South Africa’s New AML/CTF Laws
Department of Finance has announced the start date for South Africa’s new Anti Money Laundering a...
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Botswana Passes New Cryptocurrency Bill, Aiming to Curb Money Laundering
Another African country, Botswana has taken a significant step towards regulating cryptocurrency ...
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U.K Accelerates New Plans to Crack Down on Foreign Money Laundering Activities
The U.K plans to crack down on money laundering activities, legislate new laws to register foreig...
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Taiwan Bans Four Foreign Banks for Breaching FX Regulations
The Central Bank of Taiwan has penalized four foreign banks for assisting 8 major grain companies...
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Financial gain surpasses espionage as a top motivator in cyber attacks
NEW YORK – According to Verizon’s annual report on cybercrimes, money surpassed spying as t...
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US Banking Regulator Advises Federal Licensing Framework for Crypto Firms
Brian Brooks, Chief Operating Officer of the U.S. Office of the Comptroller of the Currency (OCC)...
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Australian Government Introduces $800 Million Budget for New Technology and Expands Digital Identity Checks
The Morrison government has announced an $800 million budget for expanding digital identity check...
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CBN Introduces New Anti-Money Laundering Rules for Microfinance Banks
The Central Bank of Nigeria has issued a guidance note that is aimed to prevent money laundering ...
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Canadian Anti-Money Laundering Agency Fines RBC $7.4M
Canada’s anti-money laundering regulatory body imposed a C$7.4 million penalty on the Royal Bank ...
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Digital Currency ‘Sand Dollar’ Launched by the Bahamas
The Central Bank of the Bahamas (CBOB) has introduced a digital version of the Bahamian dollar, s...
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Online fraud attempts increase during COVID-19 catastrophe
According to ACI Worldwide, the rate of fraud attempts have increased to 4.3% in April, slightly ...
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Chinese Tech Groups Shaping UN Facial Recognition Standards
Leaked documents reveal that Chinese tech giants are developing the United Nations’ standards for...
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El Salvador Must Address Bitcoin’s Risks, Demands IMF
The IMF has urged El Salvador to address the risk associated with the adoption of bitcoin as a le...
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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 Authorities Accuse Attorneys of Failure in Combating Financial Crimes
The UK regulatory authorities asserted that new data revealed prosecutors inadequately comply wit...
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UK court orders crypto exchange to shut down after clients lose $2M
In a recent statement, the U.K. government stated that 108 of their clients had lost a total of a...
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UK Fraud Agency Warns Money Launderers are Targeting Under-21s
Cifas recently reported an economic downturn allows fraudsters to target young people, under 21, ...
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Cybercriminals Targeting Bitcoin ATMs to Launder Money – Says FBI
The Federal Investigation Bureau (FBI) revealed gaps in financial regulations as money laundering...
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Phishing Scam affects thousands of Banking App users
Thousands of customers have been exploited by a fake mobile banking app. The customers were sent ...
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Japan to Enforce Strict Anti-Money Laundering Laws on Cryptocurrency
A stringent set of anti-money laundering measures will be implemented in Japan starting June 1st,...
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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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Anti-Money Laundering Rules Hit Backpacker Bank Accounts
Working holiday visa holders have been reported to have difficulty obtaining bank accounts due to...
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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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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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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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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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FCA Cracks Down on Various Operators Hosting Illegal Crypto Cash Machines Around Leed
The FCA (Financial Conduct Authority) suspects many sites around Leeds of hosting illegally opera...
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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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Supreme People’s Court of China to Impose Severe Penalties for Financial Crimes
China’s top courts are set to impose heavier punishments to prevent financial crimes and mitigate...
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US DOJ Arrests Two in Alleged NFT Money Laundering, Rug Pull Scheme
The US Department of Justice has arrested two in a $1.1 million non-fungible token fraud and mone...
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UK has Suffered Fraud and Cyber Crime Losses Worth £1.3 Billion in 2021
London incurred the highest amount of losses to cybercrime and fraud in the first half of 2021, a...
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New KYC and AML Compliance May Violate Privacy Laws in South Korea
The South Korean government is considering implementing KYC and AML compliance in the region, but...
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eCommerce Lost £16 Million in Frauds During Lockdown
The UK’s national reporting centre for fraud and cybercrime has revealed new figures which show £...
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Bulgaria Must Strengthen its Measures Against Money Laundering & Terrorist Financing – Moneyval
Moneyval called on Bulgaria to improve the regulatory standards for the domestic framework consis...
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