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Homeland Security Takes Back Its Plans of Facial Recognition for US Citizens
The Department of Homeland Security (DHS) is taking back its decision to implement a policy that ...
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HKMA Fines Cathay United Bank’s Hong Kong Branch with HK$11m
HKMA investigated CUBHK for violating the Anti-Money Laundering and Counter-Terrorist Financing O...
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EU Regulators Say Crypto Exchange Licenses Should be Revoked for Money Laundering
EU regulators have proposed that the licenses of crypto exchanges should be revoked in case of se...
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Banks in the UK Face Customer Frustration for Digital Identity Checks
The global analytics software service provider FICO has reported that the banks in the United Kin...
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Ransomware attack on insurance MSP Xchanging affects customers
DXC Technology, a global IT solutions provider reported a ransomware attack to the US Exchange Co...
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South Africa Enforces New Rules to Transfer Funds Abroad
The South African Revenue Service (SARS) has made regulatory changes to transfer funds overseas, ...
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Interpol Seizes $130M Worth of Virtual Assets from Cybercriminals Worldwide
The International Criminal Police Organization Interpol has seized $130 million worth of virtual ...
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G20 regulator warns countries to alleviate risks of Libra-like stablecoins
The Financial Stability Board (FSB) has alerted national regulators to gauge standards and tackle...
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Brexit Deal Decides the Future of Financial Service in the UK and the EU
Marketers have finally realized the full text of the deal between the UK and Brussels regarding t...
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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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South Korea to Penalize the Non-Compliant Crypto Companies
Financial watchdogs in South Korea have announced regulations to prevent financial crimes in the ...
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Pacific Financial Intelligence Unit Collaborates to Combat Money Laundering
The Financial Intelligence Unit of the Pacific region arranged the meeting last week to enhance t...
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Wells Fargo Hit With $37M Fine Over Forex Fraud
Improper financial handling, defrauding others, and taking advantage of customers has become a no...
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Brazilian Police Confiscates $33 M in Crypto Money Laundering Probe
Brazilian authorities have seized R$172 million from an investigation carried out into money laun...
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Singapore Monetary Authority to Review Rising Card Scam Cases
The Monetary Authority of Singapore (MAS) is reviewing the liability framework for card scams, gi...
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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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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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Financial regulators assure further assistance to the industry during COVID-19
Global financial regulators guarantee to provide ease in the regulations to deal with the COVID-1...
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SkyCity Adelaide Casino Investigation on hold Amid Money Laundering Court Action
The investigation of SkyCity Adelaide’s capacity to hold a casino licence has been “put on hold”....
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AGA Issues Updated AML Compliance Guidelines for the Gaming Industry
American Gaming Association (AGA) launches the third edition of the Best Practices of AML Complia...
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American Gaming Association Updates Best Practices for AML
The American Gaming Association (AGA) has released updated “Best Practices for Anti-Money Launder...
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Canada’s MP Introduces Private Member’s Bill to Amend Criminal Code
The members of parliament of Simcoe North, including the deputy minister of finance, have introdu...
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NSW Make Reforms to Counter Money Laundering and Gambling
The New South Wales government embraces new reforms to counter the issue of money laundering and ...
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British Columbia Makes Regulatory Change to Combat Money Laundering
The British Columbia government is providing the gambling regulator of the province more independ...
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CBUAE Introduces New Program to Boost Digital Transformation in Financial Services
UAE Central Bank has introduced a program that includes a new digital currency, open finance and ...
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NZ FMA Announces to Tighten AML/CFT Approach
FMA intends to closely monitor firms’ processes, with comprehensive assessments of how they onboa...
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US Financial Authority Removes Provisional Crypto AML Regulations
The United States government removed two provisions from the National Defence Authorisation Act (...
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Action Fraud Fund Report Exposes Billion-dollar Cryptocurrency Scams
The Action Fraud Fund report exposes the extent of cryptocurrency fraud and Ponzi schemes circula...
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Man arrested for money laundering offenses related to COVID-19
A 39-year-old Singaporean man has been apprehended for his suspected involvement in money launder...
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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...
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UK Approves New Bill to Enhance Security in the Cryptocurrency Sector
The UK government has approved a bill to grant power to the authorities to seize cryptocurrency p...
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EU Money Laundering Overhaul Should Include NFT Platforms, Lawmakers Say
The two crypto legislation adopted last week did not include unhosted wallets and decentralised f...
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Austria- The Growing Hub of Cryptocurrency Approves 18 Operating License
Financial Supervisory Authority like FMA of Austria received requests from forty digital asset pr...
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Britain’s FCA Fines Ghanaian Bank for Insufficient AML Regulations
The Financial Conduct Authority of the UK has imposed fines of £5.8 million on Ghana Internationa...
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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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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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PBOC Issues New Financial Rules to Curb Money Laundering Risks
The People’s Bank of China (PBOC), The China Banking and Insurance Regulatory Commission, a...
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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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AUSTRAC, Home Affairs Say Tech Capability Not There Yet for Crypto Travel Rule
While it is understood that the crypto Travel Rule will prove to be a ‘game changer’,...
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Global OCR market expected to reach $70 billion by 2030
The global OCR market is expected to grow at the CAGR of 15% from 2020 to 2030, reaching USD 70 b...
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Caterina Giorgi Demands Age Verification Laws for Online Alcohol Businesses
Caterina Giorgi, CEO of the Foundation for Alcohol Research and Education (FARE), has highlighted...
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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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Ontarians Lost More than $118M to ‘Grandparent Scam’ in 2022, Reports
‘Grandparent scam’ cost Ontario residents more than $118 million. Scammers call elderly people an...
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Cyprus to Test UBO Registration System for AML Compliance
The government of Cyprus has indicated it will test a system for registering ultimate beneficial ...
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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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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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Treasury to Require Car Dealers to Reveal the Identities and Sources of Income of Buyers
The Treasury of Kenya will require car dealers to provide the identities and sources of their inc...
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Belgian financial sector launches campaign to help consumers avoid online fraud
The financial sector’s federation, Fibelfin, is initiating a campaign to respond to the sense of ...
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New York Financial Department Releases Guidelines On Dollar-Backed Stable Coins
The New York Financial Department has released “Guidance on the Issuance of U.S. Dollar-Backed St...
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Twitter Breach – Bitcoin Scams to the Next Level
A massive attack is reported on Twitter accounts of high-profile and well-recognized brands. Hack...
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UAE’s SCA Works on Virtual Asset Investment Regulations
The United Arab Emirates’ Securities and Commodities Authority (SCA) has said that it is ab...
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Colombian Money Laundering Watchdog Delays Crypto Transaction Reporting Regime
The UIAF has postponed the date for crypto exchanges and individuals to start reporting their tra...
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Hong Kong Licenses Crypto Exchanges, Limiting Services to Professional Investors
Digital currency exchanges in Hong Kong will be obliged to apply for a license prior to offering ...
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UKGC Imposes EUR 780K Fine on Buzz Bingo for AML Failure
Buzz Bingo has been fined £780,000 by the UK Gambling Commission (UKGC) for social responsibility...
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Sweden Points Out the Rising Cases of Money Laundering in Gaming Industry
Financial Police of Sweden has revealed a report that highlights more than 700 cases of money lau...
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The UK plans to levy on banks to prevent money laundering
According to Reuters, Britain plans to announce a new levy on banks and other financial instituti...
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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...
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Austria- The Growing Hub of Cryptocurrency Approves 18 Operating License
Financial Supervisory Authority like FMA of Austria received requests from forty digital asset pr...
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Luxembourg Updates AML Laws for Verification of Beneficial Ownership
Luxembourg has amended its Anti-Money Laundering regulation requiring practitioners to identify b...
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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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Jamaica Nears Full Compliance by Meeting 37 of 40 FATF Recommendations
Jamaica now complies with 37 out of 40 FATF recommendations for better prevention of financial cr...
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Ukraine Issues 14 Million Biometric Passports
According to Ukrinform, more than 14 million biometric passports have been issued in Ukraine so f...
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Authorities Warn that the Current Crypto Landscape is Plagued with Scam
According to the Connecticut State Police, the emerging virtual cryptocurrency market is prone to...
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MFSA, SEC, Along with FCA Introduces New AML Guidelines for Money Laundering Officers and Virtual Asset Service Providers
The Malta Financial Services Authority (MFSA), Securities and Exchange Commission (SEC), and Fina...
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Money Service Businesses Tighten AML/CFT Measures Amid Challenges
Microfinance firms, remittance services, and cambios have reported success in upgrading AML/CFT m...
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Gambling Commission Fines Entain £17m for Social Responsibility & Anti-Money Laundering Failures
Ladbrokes owner Entain has been fined £17m by the Gambling Commission for social responsibility a...
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Ghana Records $4.33m Financial Losses to Cyber Fraud in Q1’23
Ghana suffered direct financial losses of US $4.33 million due to cyber fraud activities between ...
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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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Turkey Remains on the FATF Gray List for AML Regulations Failures
Turkey’s government has failed to comply with Anti-Money Laundering (AML) and Counter-Financing T...
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EFCC Enforces Real Estate Agents to Comply with Anti-Money Laundering (AML) Regulations
The Economic and Financial Crimes Commission (EFCC) urges real estate agents to strengthen their ...
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Westpac Freezes Executive’s Bonuses Amid Money Laundering Scandal
Westpac’s board will withhold bonuses of all of its senior executives as an ‘interim’ step follow...
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European parliament imposes ban on facial recognition technology
Following a public outcry after the leak of an internal memorandum discussing the utilization of ...
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