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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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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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FCA Emphasises on Companies to Invest in Compliance Program
The U.K’s financial crime investigation agency is now taking steps that will involve the companie...
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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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Danske to face $2 billion fine for money laundering
According to Jyske Bank, Danske will probably be fined around 13.5 billion kroner (around $2 bill...
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UAE banking sector unites with law enforcement agencies to tackle fraud
Dubai: UAE’s first national fraud awareness campaign has been initiated with the collaboration of...
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Department of Justice Charges Russian Oligarch with Violating US Sanctions
The Justice Department reportedly charged a Russian oligarch with violating US sanctions and reve...
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National Treasury of Kenya Urges Companies to Hire Anti-Money Laundering Officers
Kenya’s National Treasury Department forced financial and specified non-financial institutes to o...
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The SEC Uncovers a Pyramid Scheme and Charges Multiple Individuals
The U.S. regulatory authority SEC uncovered a crypto pyramid scheme that stole approximately US$2...
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FBI Reveals North Korea’s Lazarus Group Involvement in $41 Million Stake Hack
US Federal Bureau Investigation (FBI) has revealed that the North Korean hacking group, Lazarus, ...
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Hong Kong Custom Busts Money Laundering Ring Accused of Smuggling HK$170M
Investigators suspect that the criminal gang laundered part of the cash through casinos in Macau....
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U.K. Parliament Introduces New Online Safety Bill to Curb Push Payment Fraud
The UK Parliament introduces a new Online Safety Bill, to mitigate push payment fraud and increas...
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Shufti is nominated for ‘Oustanding Product/ Service’
Global business excellence awards nominated Shufti for the category of outstanding product/ s...
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A European Money-Laundering Network Captured by French National Gendarmerie
A money-laundering network in France was under investigation for 18 months by French National Gra...
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Six Men Arrested in Hong Kong for US$22.4 Million in Fraud
Hong Kong police crackdown on a crime syndicate and arrest six people involved in money launderin...
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Coronavirus affects challenger banks as app downloads decline
According to Finbold, top challenger banks in the United Kingdom have noticed a sudden decline in...
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EU Legislates Rigid Traceability Rules for Crypto Transfers to Fight Money Laundering
The EU on Thursday legislates more strict traceability rules for cryptocurrencies transfer, in a ...
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Australian Housing is the “Destination of Choice” for Money Laundering – Says Serena Lilywhite
Weak, outdated money laundering and terrorist financing laws are creating havoc in the real estat...
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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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FCA Fines Bastion Capital For Serious AML Failings
The Financial Conduct Authority (FCA) has imposed a fine on Bastion Capital London for serious AM...
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MAS Rejects License Applications of 100 Crypto Exchanges for Ineffective CDD Protocols
Over 100 companies were either turned down or had to withdraw their applications for a license to...
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Swiss FinTech Firm LeonTeq ‘Strongly Refutes’ Allegations of Suspicious Transactions
Swiss FinTech firm LeonTeq has rejected allegations of suspicious transactions with possible link...
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FIAU Fines Maltese Investment Fund €300,000 for ‘disregard’ of AML Rules
The FIAU said that Southern Cross Sicav showed ‘disregard’ for its anti-money laundering obligati...
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Lloyds Bank Charged with £500K Fine for Breach of Financial Regulatory Standards
Lloyds Bank corporate markets jersey received a fine of £498,000 in relation to the dealings with...
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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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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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Business Registry and FIAU Join Hands to Get Malta Off FATF Grey List
The Financial Intelligence Analysis Unit (FIAU) and Malta Business Registry (MBR) have signed an ...
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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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Binance to Strengthen KYC Measures & Sanctions Enforcement with New Partnerships
The global crypto exchange Binance has announced that it will strengthen its KYC controls & s...
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Guyana Completes Money Laundering and Terrorist Financing Report Afore CFATF Assessment
Guyana has completed its second money laundering and terrorist financing National Risk Assessment...
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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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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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Singapore: MAS Preparing Data Sharing Platforms to Combat FinCrime
The Monetary Authority of Singapore (MAS) is creating a digital platform named Cosmic that will a...
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Shufti Introduces AI-Based OCR for Better Customer Verification
Verifying customers is the goal of our clients and we believe in providing the best solutions. Th...
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EU and British Financial Watchdogs to Investigate Digital Stock Tokens
The German and British regulators are reportedly investigating the stock token trading, recently ...
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Ireland Mandates Registration of Crypto Firms Under AML Laws
Ireland has taken new measures to regulate crypto businesses under the AML law for the first time...
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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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Fraudsters Seek Fake COVID Test Reports as New Travel Restrictions Roll Out
As the new travel restrictions are imposed to omit the spread of the coronavirus, the fraudsters ...
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China Postpones New AML Rules Amid Privacy Concerns and Pushbacks
China has delayed the introduction of new rules for due diligence as financial institutions requi...
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Hong Kong to Implement Background Checks for Accounting Students
Police will carry out a detailed background check of the students that plan on pursuing accountin...
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Beware of Puppy Scams This Holiday Season – BBB
The Better Business Bureau (BBB) has warned people to be cautious of online puppy scams, especial...
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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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Cyprus Aligns with EU Regulations by Adopting Strong AML/CFT Measures
Cyprus has established a new digital registry and requires the businesses to identify their true ...
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EU Strengthens Capacity of CSOs to Combat Money Laundering & Improve Governance
The European Union (EU) is working on boosting the capacity of more than 200 Civil Society Organi...
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Switzerland Introduces New Regulations To Clamp Down on Money Laundering
Switzerland proposed new Anti-Money Laundering (AML) regulations to crack down on money launderin...
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UAE Banks Asked to Strengthen their AML/CFT Measures
UAE financial institutions and the banks are required to prioritize eliminating money laundering ...
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Cryptocurrencies marked as top AML and CFT Priority by FinCEN
FinCEN will soon be publishing regulations on how financial institutions can incorporate cryptocu...
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NYDFS States Signature Bank’s Closure Was Not Linked to Crypto
According to the head of NYDFS, the decision to close Signature Bank last month had nothing to do...
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Art Dealers Urged to Intensify Regulatory Actions Against Money Launderers
The Department of Justice is establishing new rules to combat financial crimes via the art market...
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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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FATF Removes Cayman Islands and Panama From Increased AML Monitoring List
In the last plenary meeting of the Financial Action Task Force (FATF) on October 27th, the Cayman...
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New York Federal Reserve Sued by Puerto Rican Bank For Blocking Service in Venezuela
A Puerto Rican bank has sued the New York Federal Reserve on 25th July for suspending their acces...
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European Parliament Members Adopt New Recommendations to fight Tax Fraud and Money Laundering
The parliament members adopted a comprehensive set of regulations stemming from the previous reco...
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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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Singapore Seizes $736m Worth of Assets in Money Laundering Investigation
Singapore police have arrested 10 foreigners in the money laundering operation and seized $736m w...
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Star Entertainment Group Hit with Record Fine of $100M for Money Laundering
Australia’s gambling giant Star Entertainment Group has been charged $100 million for failing to ...
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Identity Theft Pushed to New Records with Buy-Now-Pay-Later Boom in Australia
BNPL (Buy-Now-Pay-Later) policy in Australia has given a rise to identity theft and has doubled t...
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EU Plans for New Anti-Money Laundering Agency
European Union’s anti-money laundering agency plans are being developed in detail. A memo dated M...
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Google Warns 12,000 Victims of Government Hacks
In just three months, from July to September 2019, Google sent out 12,000 warnings to people who ...
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New RBI Guideline: Must Perform Due Diligence for Crypto Transactions
In the latest banking news in India, notable banks were found to have cautioned their customers a...
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Shufti Nominated for Yalla Fintech 2020 Award
Shufti, an identity verification service provider offering KYC verification and AML screening...
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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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Crypto and Forex Scams Cost Belgian Investors $12 Million
According to the Belgian financial watchdog, fraudsters stole approximately $12 million from the ...
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Hong Kong regulators looking into possible overcharging by brokers
HONG KONG – Hong Kong’s financial regulators announced on Monday that they would analyze th...
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UAE Confiscates Dh4.73 Bn Worth of Assets in Fight Against Financial Crimes
In the past 12 months, the United Arab Emirates has seized assets worth Dh4.73 billion ($1.29bn) ...
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Ransomware Attack Exposes 5.8 Million Pharmaceutical Records of PharMerica Corporation
A breach notification was filed with the Maine Attorney General’s Office for the first time, reve...
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Crypto Bank Anchorage Has Inadequate AML Measures, Says US Federal Regulator
A US federal regulator has said that the first federally-chartered digital asset bank Anchorage D...
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Regulators Express Concerns on TD Bank’s AML Practices Leading to Merger Termination to Acquire First Horizon Bank
TD Bank was being examined by the Office of the Federal Reserve and the Comptroller of the Curren...
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Financial Watchdogs in South Korea Add Guidelines for Crypto Transactions
Financial Watchdogs in South Korea will now oversee the activities regarding crypto in the countr...
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FCA Fines Ghana International Bank Over £5 million for Money Laundering Failings
The Financial Conduct Authority (FCA) has imposed a £5,829,900 financial penalty on Ghana Interna...
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Bill to Combat Money Laundering Makes Its Way Through The Senate
The US House of Representatives passed the Corporate Transparency Act of 2019 (HR 2513) on Octobe...
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Florida House Speaker Votes to Restrict Minors’ Access to Social Media Platforms Via Age Verification Checks
Florida House votes to mandate social media platforms to implement rigid age verification checks,...
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