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SFC Issues Warning on Unregulated Virtual Asset Platforms
Binance has announced that stock tokens will no longer be available on its website for purchase a...
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New Zealand to Update AML/CFT Regulation from 9 July 2021
Among other changes, reporting entities have been directed to conduct customer due diligence on n...
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US Authorities Seize Bahamas Bank for Laundering $58 Million
It’s rumoured that Deltec, a Bahamas-based bank popular with crypto clients, is linked to a...
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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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Cyprus Adopts Transparency in Registration of Company Owners
Cyprus has planned to introduce a register in the coming weeks to unveil the identity of thousand...
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Interpol Launches New Center to Combat Financial Crime
Interpol has launched a Financial Crime and Anti-Corruption Center (IFCACC) as part of efforts to...
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FIAU Slaps Triton Capital Markets Limited with €227,000 Fine for AML/CTF Breaches
The Financial Services Analysis Unit (FIAU) FIAU has fined Triton Capital Markets Limited €227,0...
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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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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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Global Drug, Money Laundering Hub Busted in Las Vegas
Federal law enforcement officials in Las Vegas have dismantled an international money laundering ...
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Bank of Queensland Commits to Anti Money Laundering Laws and Risk Management
Bank of Queensland Ltd (BOQ.AX) disclosed that separate agreements had been reached with the coun...
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FIU Highlights the Risks of Money Laundering in Estonia Due to VASPs
FIU has highlighted in its annual report the risk of money laundering and terrorist financing in ...
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Bank of Ghana Proposed Guidelines to Strengthen AML/CFT Regulation
The Bank of Ghana proposed guidelines for banks to enhance the Anti-Money Laundering and Combatin...
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German Parliament Passes Anti-Money Laundering Laws
On Thursday, the German parliament passed a draft of anti-money laundering measures to make sure ...
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Aussies Bombarded With Scams in 2022 – ACCC Report
The Australian Competition and Consumer Commission (ACCC) reported Aussies as the top target of s...
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HKMA Issues Guide for Regtech Adoption in Customer Monitoring
The second guide published by the HKMA will allow banks to test their internal measures and infra...
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Anti-Money Laundering Assessment of Sri Lanka Expected Shortly by FATF
In a recent statement, President Ranil Wickremesinghe announced that Sri Lanka will begin its nex...
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New Variations in Business Email Compromise Accounted for Losses of $43 Billion, Says FBI
Introduction of new variations in Business Email Compromise scams netted $43 Billion in losses ca...
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Japan Remains Distrustful of Digital Yen Despite its CBDC Research
Japan’s Central Bank Launches research on the Central Bank Digital Currency but still remains uns...
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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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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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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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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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Financial Inclusion Group Proposes User-centric Digital ID, Biometric KYC Policy Model
According to the AFI model, digital IDs and biometric KYC verification must be deployed by busine...
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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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DC lawyers can now accept crypto for legal fees
According to a report by Bloomberg Law, cryptocurrency can now be used to pay for legal services ...
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Online fraudsters steal £17m over COVID-19 lockdown
About £17 million have been lost due to online fraud over the Coronavirus lockdown period with yo...
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Lawyers in Malta Lag Behind in Complying with AML Measures
Malta obliged the various sectors to comply with risk assessment measures. According to the Finan...
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Transparency International Declares South Sudan Second Most Corrupt Country
In the East African region, South Sudan has been ranked as the most corrupt country in the world....
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Bank of Ghana Proposed Guidelines to Strengthen AML/CFT Regulation
The Bank of Ghana proposed guidelines for banks to enhance the Anti-Money Laundering and Combatin...
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UK MPs Call for Improved Crypto Regulations to Prevent Losses
Ministers of the UK Parliament are calling for more rigid cryptocurrency regulations from the ASA...
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More Crypto Regulations on Their Way, Says Head of Turkish Central Bank
A few days ago, the Turkish Central Bank imposed a complete ban on cryptocurrency payments. Now,...
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FinCEN Alerts FIs of Sanction Evasion by Russian Entities Implicated in U.S. Commercial Property Investments
FinCEN alerted all the Financial Institutions warning about the risk of investment from sanctione...
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British Government Prepares Task Force to Halt Financial Crimes
After observing a 70% increase in push-payment fraud, the UK’s government has devised a tas...
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European Commission Warns of Trade Laws Violation as EU Bans Tax-Haven Crypto Firms
The European Commission has issued a new warning on breaching global trade laws as the EU bans ta...
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Banks Warned about Cryptocurrency Risk Exposure by FinCEN Director
During a virtual anti-money laundering conference by ACAMS in Las Vegas earlier this week, FinCEN...
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Rapstar Captured for His Role in Wire Fraud Scheme
A famous rapper from Chicago with his crew members was caught and charged in court for using the ...
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Australian Government to Extend AML and CTF Regime
The Australian Government has initiated a consultation on revising the Anti-Money Laundering (AML...
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United Nations Ranks Kenya at Position 24 in the Dirty Money Business
Every year, the United Nations conducts surveys on how the countries are performing. One of the U...
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Global Drug, Money Laundering Hub Busted in Las Vegas
Federal law enforcement officials in Las Vegas have dismantled an international money laundering ...
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FINMA Allows Chip Scanning and Geolocation for Digital Customer Onboarding
The FINMA now enables the scanning of microchips inserted in biometric ID documents as an element...
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Guyana Holds US-Sponsored Conference to Examine Asset Recovery and Money Laundering Issues
The Judiciary of Guyana organised a two-day conference in collaboration with the US Department of...
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Austrac Warns of Money Laundering Risks Unless More Prosecutions are Conducted
Austrac has warned the law enforcement agencies in Australia that they must conduct more money la...
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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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USD 10.4 Billion Paid by Financial Groups in 2020 in Regulatory Fines
Know Your Customer and Anti-money Laundering non-compliance penalties rose 26% this year. Many pr...
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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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Ramon Abbas, Nigerian Instagram Influencer Pleads Guilty to Million-dollar Fraud
Nigerian instagram influencer, Ramon Abbas (Hushpuppi), admitted that he was involved in a conspi...
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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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SRA Fines Scarborough Law Firm for Long-term AML Compliance Failures
The Solicitors Regulation Authority (SRA) has fined Scarborough law firm Pinkney Grunwells Lawyer...
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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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Real Estate Money Laundering Rises, KCB Dragged to Court for AML Breach
Real Estate development and construction company Tirupati Development Limited has dragged KCB Ban...
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AUSTRAC Has Published a New Guidance For Detecting “Cuckoo Smurfing”
AUSTRAC’s guidance offers indicators for financial institutions, to allow them to detect suspicio...
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European Banking Authority Publishes Final Guidelines on Remote Customer Onboarding
The European Banking Authority (EBA) has issued its final policies on remote customer onboarding ...
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Video KYC: The New Normal in the Insurance Industry
Since everything is moving to digital platforms, the Insurance Regulatory and Development Authori...
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UAE Endorses Legal Framework for Unlicensed Virtual Asset Platforms
The United Arab Emirates (UAE) issued new strict anti-money laundering regulations for unlicensed...
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KYC Alliance between Dubai Economy and six banks
As reported by Gulf News, Dubai Economy along with Emirates NBD, Emirates Islamic, HSBC, RAKBANK,...
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Rules for AMLC Inquiry for Bank Accounts Released by the Court of Appeals (CA)
On Sunday, the Court of Appeals (CA) issued its rule of process for assessing the deposit or inve...
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$4.4 Billion Worth Cryptocurrency Stolen in 2019
The crypto analytics firm, CipherTrace released its Q3 2019 Cryptocurrency Anti-Money Laundering ...
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Client Sues Credit Suisse for Losing $607 Million in Fraud Scheme
A Georgian billionaire, Bidzina Ivanishvili, has sued the Swiss bank, Credit Suisse over a Fraud ...
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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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£23.8 Million Fined to MT Global for AML Non-Compliance
A Money Service Business (MSB) firm, MT Global, penalized by HM Revenue and Customs for breaching...
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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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New Variations in Business Email Compromise Accounted for Losses of $43 Billion, Says FBI
Introduction of new variations in Business Email Compromise scams netted $43 Billion in losses ca...
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FCA Fines TJM Partnership Limited £2 Million for Money Laundering
The Financial Conduct Authority has fined the investment firm TJM Partnership Limited £2m for ser...
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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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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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Crypto Industry Rejects New Rules to Report NFT and DeFi Transactions
The representatives of the Crypto industry have disapproved of reporting data about NFTs, DeFi tr...
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Kazakhstan has Improved to Achieve the Lowest Risk Score for ML/TF
According to the annual report of Basel Index 2020, among the 141 countries, Kazakhstan is at 73r...
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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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T-Mobile Suffers its Second Security Breach within Six Months
T-mobile US suffered its second data breach between late February and early March, affecting 836 ...
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Isle of Man Urged to Take Further Steps to Counter Money Laundering
The Council of Europe’s anti-money laundering committee has again called for an extension in the ...
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Canada loses millions in online scams
According to CBC News, 6492 incidents of fraud were reported to Edmonton Police last year, result...
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