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FATF issued guidance on risk-based AML/CFT policies
The Financial Action Task Force has issued finalised supervision on adopting a risk-based strateg...
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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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$8.6bn Lost to Cryptocurrency-based Money Laundering in 2021
‘The 2022 Crypto Crime Report’ by Chainalysis has revealed that a total of $8.6 billion was lost ...
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Scammers Set to Defraud this Holiday Season, FBI Warns!
This holiday season, New Mexican shoppers are at risk of facing scammers. Criminals are all set t...
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‘EU Has Fragmented Approach to Combat FinCrime’, Says ECA
The European Court of Auditors (ECA) has identified weaknesses in the Anti-Money Laundering polic...
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Kinahan Cartel Under Pressure as European Union Places UAE on ‘Blacklist’
The Kinahan Cartel is under great pressure after the European Union (EU) places the UAE on the ‘b...
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FCA Declares £147m Fine on Credit Suisse for Due Diligence Failings
Credit Suisse was fined £147,190,200 for breaching FCA’s Principle 2 and 3 for Businesses as it f...
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Malta Should Remain Vigilant Against Money Laundering, Says FATF President
FATF President Marcus Pleyer says that Malta must prioritise its fight against illicit financial...
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US Treasury Launches New Financial Force to Combat Illegal Fentanyl Trade
The US Treasury Department has announced the launch of the Counter-Fentanyl Strike Force to comba...
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ABA House of Delegates Amends the AML Model Rule to Curb Financial Crimes
The House of Delegates amended the ABA Model Rule of Professional Conduct 1.16, which covers decl...
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The Anti-Money Laundering Solution Market is Expected to Double by 2025
According to the latest AML solution market report 2020-2026, the post coronavirus pandemic had a...
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Banks take measures to serve customers amid COVID-19
The banking industry is stepping up to serve customers as well as their employees as the Coronavi...
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UAE Extends the Deadline for DNFBPs to Register for AML Regulations
The Ministry of Economy (MoE) in Abu Dhabi has announced the deadline extension for the registrat...
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Indiana Witnesses a Spike in Identity Theft and Data Breaches
Covid19’s outburst has resulted in exponential growth in online banking, purchasing, and eC...
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Beverly Hills Store Pleads Guilty to Conspiring with Drug Money Launderers
U.S. Private Vaults, Inc. has pleaded guilty to charges on its Beverly Hills store of conspiring...
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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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Danske Bank Under Fire Over AML Shortcomings
The FSA has reprimanded Sweden’s Danske Bank over ‘shortcomings’ in its anti-money laundering con...
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Dubai Jails 9 and Fines Over Dh15 Million for Money Laundering
Dubai courts have issued prison sentences to 9 offenders for money laundering. The Emirates conti...
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FATF Claims Golden Visa Programs Raise Financial Crimes Activities
The international regulatory body, Financial Action Task Force (FATF), reported that Citizenship ...
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Czech Republic Ramps Up Efforts to Combat Financial Crimes
According to a Moneyval report, the Czech Republic is showing progress in improving its complianc...
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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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CSIR Reports Surge in Cybercrimes Pertaining to Work-from-home Culture
The Council for Scientific and Industrial Research (CSIR) has reported that cyberattacks have inc...
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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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China Announces Anti-foreign Sanctions Law
Under the new law, China has introduced countermeasures against senior managers and actual contro...
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OSCE Hosts Regional Conference on Combating Money Laundering and Terrorist Financing in South-Eastern Europe
The chairperson of the OSCE for North Macedonia addressed issues of corruption, money laundering,...
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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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UK Launches New Crypto Asset Promotion Rules
The UK’s latest obligations on the promotions of the crypto service providers came into force thi...
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N26 Fined $5M by German Watchdog for Delayed SAR
German regulator BaFin imposes a hefty $5 million penalty on digital banking company, N26, for un...
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Economic and Financial Crimes Commission (EFCC) Notifies Estate Agents of Anti-Money Laundering Procedures
The Economic and Financial Crime Commission (EFCC) has instructed estate agents in Port Harcourt ...
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Kount integrates AI software for immediate identity verification
Kount, a fraud prevention firm is planning on introducing the Identity Trust Global Network for t...
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Ukraine to Scale-up Fight Against Financial Crimes
Ukraine’s Cabinet of Ministers has approved a plan that will strengthen the measures to prevent f...
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FATF Calls for Urgent Implementation of Crypto Information Sharing Mechanisms
FATF has published a report to call on the countries to the implementation of travel rules to und...
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Latvian State Police Bust a Major Money Laundering Ring
Latvian State Police has identified and busted a huge criminal gang involved in money laundering....
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Remarkable Progress in Facial Recognition Revealed by a New Study
Could you have imagined a few years ago that you could be identified from your brain scan? The id...
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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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FCMC Fines AS PrivatBank Worth €768K for AML Non-Compliance
The FCMC fined PrivatBank for AML/CTPF compliance breaches and instructed the bank to address its...
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The market for Digital Identity Solutions expected to double by 2024
The market for Digital Identity Solutions is predicted to double between 2019 and 2024, as report...
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UAE Central Bank to Take Action Against Unregistered Hawala Operators
From 2nd December 2020, the Central Bank in UAE will begin taking action against the unregistered...
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China plans on introducing digital yuan
China’s central bank has sent one of its strongest signals yet of a commitment to creating ...
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Ransomware gang strikes three companies in the US and Canada
The well-known ransomware group REvil has initiated another series of attacks targeting three com...
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Anonymous Report Reveals Indian Indiscriminate Targeting Against NGOs
According to the shadow report, India has been indiscriminately targeting non-governmental organi...
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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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Philippine Senator Files an Anti-Online Gambling Bill Aiming to Curb Financial Crimes
Philippine Senator Joel Villanueva filed a bill imposing a ban on online gambling to prevent fina...
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The Chinese central bank confirms digital Yuan mobile app trials
According to a statement, the People’s Bank of China (PBoC) conducts internal tests for the natio...
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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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Danske Bank Revamps Compliance Measures After Money-Laundering Scandal
Danske Bank A/S was engulfed by a money-laundering scandal in 2018 among other banks in the Nordi...
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The EU and UK Announce Major Regulatory Reforms to Safeguard Crypto-Assets
EU implements unified crypto-asset regulations, MiCA, and incorporates Travel Rule to secure cryp...
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Japan Considers Facial Recognition to Trace Contact at Large Scale Events
According to the Japan Times report, the country is planning to introduce facial recognition at l...
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Crypto firms Halt Business in China After an Intense Government Crackdown
Cryptocurrency businesses have stopped their operations after the government led an intense inves...
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Vietnam Govt to Introduce Crypto Research Group to Evaluate Policy
Vietnam’s Ministry of Finance has plans of establishing a research group with the aim of studying...
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Singapore Proposes Additional AML/CFT Requirements for FIs
Monetary Authority Singapore has issued a consultation paper proposing the scope of AML/CFT to be...
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European Union to Propose Amendments in AML Package for Corporate Transparency
The European Parliament has proposed a series of amendments to the Anti Money Laundering (AML) pa...
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Nigerian Parliament Strengthens AML/CTF Laws for Real Estate Industry
Nigerian real estate regulatory authority to mandate businesses to comply with AML/CTF compliance...
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Dutch Rabobank Under Investigation Over Suspected AML/CTF Violations
According to the Netherlands’ second largest money lender, Dutch prosecutors are investigating Ra...
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Online Gaming Company Fined €386,000 for AML Failings
Online Amusement Solution Limited, a gaming company, was fined more than €386,000 by the FIAU for...
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EU Contemplates New Anti-Money Laundering Body in the Wake of Scandals
Brussels plans to pursue the strengthening of powers of the EU agencies to combat money launderin...
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Italy Launches Money Laundering Investigations into Qatargate Associates
Italian prosecutors have launched a probe related to the EU parliament Qatargate affair as a new ...
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UK’s National Audit Claims FCA Takes Slow Crypto Enforcement Actions
The UK’s National Audit stated that the Financial Conduct Authority (FCA) has all the rights to c...
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Garantex Sanctioned by the US for Laundering Over $100 Million
The US Treasury Department has sanctioned the virtual currency exchange Garantex for facilitating...
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Equifax Survey shows Britain Prefers Biometric Verification
Credit reporting agency, Equifax, reports that Brits are much more open to adopting biometric aut...
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Liberian Ministers Allegedly Laundering Money Using Foreign Lobbying Contracts, Investigation Reveals
Liberia, one of the poorest countries in the world, is said to spend an enormous and highly suspi...
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Deutsche Bank Subordinate DWS Fined $25 Million for AML Violations
In the latest enforcement action, the Security Exchange Commission (SEC) has fined $25 million to...
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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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French Magazine XXI to Reveal ICIJ’s Take on Tax Havens
In an interview with ICIJ, XXI editor David Servenay says that the offshore world is more powerfu...
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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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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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Fraudsters are all set to exploit Black Friday sales. Beware!
Criminals are aware that at this time of the year, shoppers are looking for discounted deals and ...
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United Nations Calls for a Pact to Fight Financial Crimes
United Nations’ panel of experts has called on the governments around the world to take part in e...
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AUSTRAC Warns Banks Against Closing Accounts of Crypto Traders
AUSTRAC shows full support for the Australian crypto industry and is issuing warnings to banks ag...
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Singapore Authorities Investigates Bank’s Role in $1.8B Money Laundering Case
Singapore’s central bank started an investigation against banks involved in a $1.8b global wealth...
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NatWest Apologises for AML Failures and Issues Warning on Rising Inflation
The chairman of NatWest bank has apologised to shareholders for failing to implement adequate ant...
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FINMA Penalizes Swiss Bank over Money Laundering of $78 Million
The Swiss regulatory authority, FINMA, initiated a lawsuit against the senior management at Juliu...
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