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Malaysia Leads Southeast Asian Peers in Implementing Anti-Money Laundering and Counter-Terrorism Financing Regulations
Malaysian financial institutes are leading other South Asian countries in complying with anti-mon...
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New AML Reforms ‘Tranche 1.5’ Take Effect in Australia
In an attempt to streamline customer verification and correspondent banking, AUSTRAC has issued r...
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Qatar’s new AML laws leave no room for Cryptocurrencies
A number of countries across the globe are coming with up stringent policies to inhibit the illeg...
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UK Adopts new Methods to Fight Money Laundering Through Sanction Regime
The UK declared a new sanction regime against financial crimes like money laundering. According t...
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German Authorities Shut Down ChipMixer on Suspicion of Laundering $2.9B Worth of Bitcoins
Law enforcement authorities bring down German-based server ChipMix alleged of laundering $2.9 bil...
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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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Central Bank of Nigeria (CBN) Gives Financial Institutions 30 day Deadline to Close Accounts Without Bank Verification (BVN)
Financial institutions and banks have been given a 30 days notice period by the Central Bank of N...
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Saudi Arabia Takes New Measures to Tackle Financial Crime
Saudi Authorities have approved a new legislative measure designed to enhance their efforts in fi...
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SRA Fines a Law Firm £14,000 for Breaching ID Verification Regulation
A business organization is being penalized £14,000 by the Solicitors Regulation Authority (SRA) f...
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NCA Seizes Gold Bars Worth £650,000 from Money Laundering Network
The National Crime Agency has found a forfeiture order for 15 gold bars that are worth £650,000. ...
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Labor Party Victim of a Second Cyber-Attack
Britain’s Labour Party has informed that it had been a victim of a large-scale cyberattack on its...
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Australian Senate to Examine the Scope & Impact of AML/CFT on DNFBPs
The Australian Senate’s inquiry will be examining the impact of bringing DNFBPs under the AML/CFT...
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FMA Gives Red Signal to Pencarrow Private Equity for AML/CTF Violations
The Financial Market Authority (FMA) has issued a formal warning to Pencarrow Private Equity Mana...
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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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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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“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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House Bill Passed in Philippine to Enforce AML LAW
House of Representatives has approved legal amendments to regulate the developers, metal dealers,...
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Pandora Papers Update: Offshore Havens and Money Laundering Scandals Exposed
The Pandora Papers expose 35 world leaders, 300 public officials and 100+ billionaires, thus prov...
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Money Laundering Investigation Leads to Seizure of Canberra Properties, Vehicles, and Cash
Assets worth over $10 million have been seized after an international investigation into money la...
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Nevada Takes Measures to Combat Unemployment Insurance Fraud
District of Nevada’s Office of U.S Attorney has shown concerns about the rise in unemployment ins...
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Australia sues Facebook for $525 billion
A lawsuit was filed against Facebook by Australia’s privacy regulator, blaming the social media p...
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US Senator Challenges the Proposed Crypto Regulations of FinCEN & FATF
Pat Toomey, the US Senator, has requested Treasury Secretary Janet Yellen to “make significant re...
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COVID-19 Vaccines at the Risk of being Illegally Obtained by Fraudsters
There is nothing more awaited than the coronavirus vaccine this year. The international agencies ...
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FATF to Shorten Its Fifth Round of Mutual Evaluation to Assess Countries’ AML Regimes
The Financial Action Task Force has announced that it will shorten its fifth round of mutual eval...
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Netflix users targetted by scammers during COVID-19 outbreak
According to a security company, Scammers are increasingly using the likeness of online streaming...
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Economic uncertainty ‘a breeding ground for fraud and financial crime
The FATF has warned that the Coronavirus outbreak has caused unparalleled challenges in the econo...
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China Enhances AML Obligations to Combat Money Laundering
Chinese authorities have released the latest guidelines to enhance security in the financial sect...
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ASIC Expands its Team to Enhance Cryptocurrency Regulations
Australia’s financial regulator has enhanced the size of its crypto team. The crypto regula...
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FinCEN Launches Regulatory Process For AML Regulation on Antiquities
The ANPRM discusses how antiquities trade can be exploited by money launderers and terrorist fina...
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SA Banks at High Risk of Money Laundering & Terrorist Financing, Says Prudential Authority Report
South African banks have moved up into the high-risk category in the new report from the Prudenti...
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FCA Fines £642K to Sunrise Brokers for AML Failings
FCA imposed a £642K fine on Sunrise broker for facilitating fraudster trading and having an inade...
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China Warns of Money Laundering Risks Arising from NFTs
China has warned of the financial risks associated with non-fungible tokens (NFTs) as three indus...
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United States Senate, UAE Government, and Spain Make Significant Efforts to Curb Money Laundering and Terrorist Financing Activities
United States Senate, UAE Government, and Spain Take effective measures to amend current Anti-Mon...
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South Korea’s Largest Crypto Exchange Upbit Registers with KoFIU for AML
Upbit is reportedly the first South Korean crypto exchange to register the Korean Financial Intel...
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Louisiana Approves First Regulation Requiring Age Verification to Access Pornography Sites
Louisiana’s House of Representatives passed the bill against age verification in the porn industr...
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Financial Watchdogs in Thailand Issue Strict KYC for New Crypto Accounts
The government in Thailand plans to eliminate anonymity in the new crypto account creation by enf...
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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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Amazon Sued Over Illegal Storage of Employee Biometric Data
Lawyers from the firm of McGuire Law P.C. of Chicago filed a class action complaint on November 1...
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France to Consider Amendment Obliging Crypto Firms to Obtain Licenses
In January 2023, the French Parliament will consider the amendment to cancel the favorable treatm...
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EU Parliament Proposes Change in AML Bill to Increase Focus on NFTs
Lawmakers in the EU Parliament have proposed new changes for the upcoming AML bill to increase fo...
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FINTRAC Issues Alert on Money Laundering from Illegal Wildlife Trade
FINTRAC, in collaboration with the Project Anton team, issues an alert on money laundering procee...
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UK NCA Recovers $7.5 Million from Azerbaijani Laundromat Probe
The UK’s NCA has recovered 5.6 million pounds ($7.5 million) from bank accounts in the country wh...
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Two of Singapore’s Banking Giants Involved in Billion-Dollar Money Laundering Case
The two well-known banks in Singapore, Development Bank Singapore (DBS) and Overseas Chinese Bank...
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AUSTRAC New Risk Assessment Report on Banking Sector Warns Brokers of High ML/TF Risk
The brokers knowingly allowed the loans to be repaid with illicit funds, states the report.
AUST...
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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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RICS Urges Firms to Adopt ‘Extremely Careful’ Due Diligence Measures
The RICS has issued a statement for its members urging them to adopt ‘extremely careful’ measures...
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UK watchdog allows credit card and loan payment holidays to customers
The Financial Conduct Authority (FCA) has instructed top banks to offer three-month payment holid...
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59 Arrested in Vietnam Crackdown on Illegal Crypto Gambling Group
Law enforcement bodies arrested 59 Vietnamese in illicit gambling schemes and were suspected of $...
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FinCEN Wants Banks to Submit SARs to Affiliates Under AML Act 2021
FinCEN proposed a new rule that will allow banks to share suspicious activity reports with foreig...
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FinCEN Proposes Beneficial Ownership Reporting Requirements
The FinCEN proposed beneficial ownership reporting requirements to protect U.S financial system f...
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Swedish Biggest Bank Hosts Active Account for PKK Terrorist Group
According to a local media source, the most prominent Swedish bank, SEB (Skandinaviska Enskilda B...
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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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EUR 27 Million Worth Crypto Assets Seized by the NCA in Money Laundering Crackdown
NCA seizes crypto assets worth £27m last year in a major money laundering crackdown
Although inst...
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US Imposes First-Ever Sanctions on Bitcoin Mixer for Money Laundering
The US Treasury recently announced that it has imposed the first-ever sanctions on a bitcoin mixe...
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Nigeria, Myanmar, and Türkiye Take Effective Steps to Meet FATF Recommendations
Myanmar, Nigeria, and Türkiye are implementing effective measures to level up anti-money launderi...
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Pakistan’s State Bank unveils new AML/CFT regulations for Forex Firms
State Bank of Pakistan on Tuesday amended Anti-money laundering (AML) and Counter Financing of te...
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Deutsche Bank to Revise its Compliance and Risk Management Functions
Deutsche Bank is working on reforming its compliance function and risk management measures. The b...
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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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Korea FSC Confirms Plans for Crypto-focused Bureau at KoFIU
According to the FSC, the crypto-focused bureau will improve the transparency in virtual asset tr...
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US Treasury Department Introduces Beneficial Ownership Reporting Form to Enhance AML Measures
The US Treasury Department designed a beneficial ownership report form to strengthen the security...
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Ireland Campaigns to make Dublin the EU AML Authority Headquarter
A team was established in the Department of Finance by the Irish government to campaign for Dubli...
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UAE Imposes Strict Penalties for AML and CFT Failings
The UAE is set to be removed from the FATF’s Gray List in the upcoming year as it substantially i...
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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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IRS And Foreign Tax Enforcers Warn of Increasing Money Laundering Risks in NFTs
The IRS and foreign tax enforcers have issued a warning of the increasing risks of money launderi...
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FinTech and InsureTech Booms in Israel as $120M Raised for Investments
FinTLV, a fund based in Tel Aviv, has announced that it has collected $120 million worth of funds...
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Another COVID-related lure: Phishing Scam Targeting Email Users
Amid the COVID-19 outbreak, email users are constantly warned against fraudulent emails and scams...
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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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FATF Highlights the Gaps in New Zealand’s AML Measures
Financial Action Task Force (FATF) has issued a report on New Zealand’s measures to combat money ...
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Nepal’s Foreign Employment Sector Witnesses a Surge in Fraudulent Cases
The number of individuals seeking international employment from Nepal has increased, and so do th...
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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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AAT Warns UK Businesses are Vulnerable to Money Laundering Threat After Reforming AML Regulations
The Association of Accounting Technicians (AAT) warned the UK government that reforming Anti-Mone...
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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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