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UKGC imposed EUR 3.8 Million Fine on Genesis Global for Social Responsibility and Money Laundering Violations
After the two-year investigation, the United Kingdom Gambling Commission (UKGC) imposed EUR 3.8 m...
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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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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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China Pledges “Zero Tolerance” for Financial Fraud
Top financial regulators in China pledged to introduce stricter controls following the recent dis...
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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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FINMA, SFC, and MAS Fine Multiple Financial Institutions Over $1.5 Billion For Money Laundering Activities
FINMA, SFC, and MAS fined multiple financial institutions over $1.5 billion for not complying wit...
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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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Central Bank of UAE Penalized Exchange House Dhs504,000 for AML/CFT Breach
UAE’s exchange house has weak measures to fight money laundering and terrorism financing and requ...
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US government favours a hands-off approach to AI’s regulation
The white house listed 10 principles that federal agencies should consider when drafting laws and...
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African Federal Government Urges Collaboration to Combat Money Laundering and Terrorist Financing
The African Federal Government stressed the urgent teamwork needed to combat money laundering, te...
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“Lack of Face-to-Face Verification is a Risk for FIs”, Reported MAS & ABS
Monetary Authority of Singapore (MAS) and the Association of Banks in Singapore (BAS) have publis...
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Ireland embraces the EU’s Anti-Money Laundering (AML) directive
EU’s anti-money laundering directive has been actively embraced by countries all across the globe...
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EU Lawmakers Propose New Bill to Combat Money Laundering through NFTs
Members of the European Parliament have proposed a new bill to increase scrutiny of the NFT and D...
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Rabobank’s Profits Drop Over Shut Down in Russia and Increased AML Costs
Dutch Cooperative Rabobank revealed that its profit plunged more than a quarter in the first half...
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Hong Kong Police Reveals 822 Romance Scams Occurred in 1H of 2021
The Hong Kong Police has advised the public to remain cautious when meeting people online due to ...
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Mexico: Federal Anti-Money Laundering Agency Freezes 1352 Accounts for Money Laundering
On Tuesday, the police and federal anti-money laundering agency said that they have frozen 1352 b...
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The United Kingdom implements new Anti-Money Laundering regulations
The United Kingdom’s finance and economics department has announced the incorporation of new Anti...
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Kansas Reports Highest Number of Identity Theft Cases in 2020
New research conducted reveals that Kansas State has been ranked at number one for having the mos...
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US Treasury Department Issues AML Study for the Art Market
The US Treasury Department Issues anti-money laundering (AML) study for the art market, aiming to...
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Atomic Wallet Hack Results in $35 Million Loss as Investigation Continues
Atomic Wallet users have reported losing millions of dollars worth of cryptocurrency. It was anno...
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China Extends the Regulatory Crackdown to the Fintech Giants
The financial watchdogs in China are rolling out new legislative measures to restrict the finance...
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Australian Bank, Westpac, Accused of 23 Million Money Laundering Breaches
Australia’s financial intelligence agency, The Australian Transaction Reports and Analysis Centre...
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AUSTRAC Initiates Probe into Sportsbet and Bet365 over Money Laundering Suspicions
AUSTRAC launches investigations into gambling firms for suspicions of failing AML/CFT compliance,...
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Court Dismisses Appeal in New Zealand’s First Criminal Prosecution Under AML/CFT Act
Court of Appeal dismisses an appeal on 1st July against New Zealand’s first criminal prosecution ...
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MEPs Disclose Plans To Crack Down On Money Laundering – AMLA Reports
The civil liberties and economic affairs committees discussed the plan to establish an EU Authori...
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Hong Kong Launches Meta Verse to Combat Crypto Crime
CyberDefender Metaverse is the first metaverse platform launched by Hong Kong Police to combat cr...
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EU Lawmakers to Decide Ban on Large Crypto Transfers from Self-Hosted Wallets
European Union lawmakers will vote on limiting crypto transfers from self-hosted wallets on March...
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Panama’s Supreme Court to Declare Cryptocurrency Legislation
Panama’s Supreme court to decide whether to modify the “crypto bill” or approve it without amendm...
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Phillippines Added to FATF Gray List Again for Inadequate AML Casino Measures
The Philippine financial system did not comply with international Financial Action Task Force (FA...
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U.K Accelerates New Plans to Crack Down on Foreign Money Laundering Activities
The U.K plans to crack down on money laundering activities, legislate new laws to register foreig...
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US Treasury Holds Back AML Reforms Despite Money Laundering Through Art Industry
The US Treasury Department has found the country’s art market to be vulnerable to financial crime...
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US Firm Fined with Half a Million Dollars for Violating US Sanctions
A crypto firm, BitPay will now have to pay a fine of half a million dollars to the U.S Treasury’s...
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Russian Central Bank Still Saying “No to Use of Crypto in Settlements”
Russia’s Central Bank has put another wrench in the pro-business Ministry of Finance’...
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CBN Adds Cameroon, Croatia, Korea, and Vietnam to Money Laundering Watchlist
A circular issued to Deposit Money Banks (DMBs) states the Central Bank of Nigeria has added Came...
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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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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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FCA Alerts Crypto Firms to prepare for Advertising Rule Change
The UK Financial Watchdog has alerted all Crypto firms to be prepared for advertising rule change...
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Hungary Becomes “Largely Compliant” with FATF Standards After Improving AML/CFT Measures
The Anti-Money Laundering Body of the Council of Europe has stated that Hungary has improved its ...
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South African Government Passes Key AML and CFT Laws to Fight Financial Crimes
South African government passes two significant laws to implement Anti Money Laundering and Count...
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China’s Digital Currency Could Be Launched ‘Quite Soon’
Within the next 6 to 12 months, China could launch its own digital currency which may become a ch...
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Russian govt introduces Fintech Sandboxes, including Blockchain
The Russian government plans on the creation of regulatory sandboxes for companies working on con...
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EU to Introduce Sixth ‘Anti-Money Laundering Authority’ for Crypto Oversight
The European Union is planning to introduce the sixth “Anti Money Laundering Authority” to look u...
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Swiss Regulator FINMA Issues DLT Act for Digital Securities Market
The Financial Market Supervisory Authority (FINMA) introduced regulatory amendments for digital s...
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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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EU Parliament to Consider Black-Listing Switzerland After Credit Suisse Leaks
The European Parliament’s main political group called for a review of Switzerland’s banking pract...
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Jamaican Senate Approves Order to Combat Money Laundering
The Jamaican Senate recently approved the Proceeds of Crime (DNFBPs)(TCSPs) Order, 2022, which is...
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DISA is Working on a Digital Identity, Credential, and Access Management Tool
According to Nextgov reports, the Defense Information System Agency (DISA) in the US has announce...
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Phishing attacks hidden in Google Cloud Services
Cybercriminals are concealing phishing efforts behind legitimate resources like google cloud serv...
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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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SEC Warns Wall Street to Enhance AML Systems
US regulatory authority, the Security and Exchange Commission (SEC), warns Wall Street brokers of...
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Turkey’s Regulatory Authorities Oblige Rigid Crypto Licensing Measures
Turkey’s Regulatory Authorities stated they will develop rigid regulations for crypto service pla...
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Centra Tech’s Operator Sentenced a Year in Prison for ICO Fraud
Robert Farkas has been arrested and charged with the lightest sentenced felony for his part in Ce...
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Comparitech Report Ranks Biometric Data Use: China Tops the List
Comparitech, a pro-consumer technology website, conducted a study including 50 countries and thei...
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California to Legislate Stronger Children’s Online Safety Bill
Assembly Bill 2273 for children’s online safety and privacy was approved by lawmakers in Ca...
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SataBank is Set to be Formally Liquidated Over Money Laundering Concerns
The liquidation of Satabank has affected prominent names with a massive due amount. The infirm se...
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US Ambassador Highlights how Liberia can Improve its AML/CFT Laws
Monrovian embassy of the United States’s ambassador, Micheal A. McCarthy, supports the National R...
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Mexico: Federal Anti-Money Laundering Agency Freezes 1352 Accounts for Money Laundering
On Tuesday, the police and federal anti-money laundering agency said that they have frozen 1352 b...
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AUSTRAC Denounces De-banking Practices To Prevent Financial Crimes
AUSTRAC stated that de-banking is a complex global problem as it multiplies the risks faced by fi...
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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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HKMA Issues Mandate to Encourage Innovation in AML/CFT
Hong Kong’s Monetary Authority is set to launch interactive lab sessions to experiment with innov...
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US Sanctions Crypto Mixer Sinbad Over Connections to North Korea
The FBI and the Dutch Financial Intelligence and Investigation Service have a crackdown on virtua...
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AMLC Freezes Assets of 16 Groups Labeled as Terrorist Organizations
The Anti-Money Laundering Council in the Philippines has frozen the accounts of 16 organizations ...
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US Attorney’s Office Charges New York’s Oldest Mafia Clans for Money Laundering Scheme
The US Attorney’s office has accused the two of New York’s oldest mafia clans for laundering mone...
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JFSC Penalizes Jersey Firms £700,000 for Violating AML Regulation
Three jersey based firms have been forced to pay a fine of more than £700,000 for breaching anti-...
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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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Taiwan’s Ministry of Justice Proposes Amendments in AML Laws to Strengthen Fraud Measures
The Ministry of Justice (MOJ) called for adequate measures in AML compliance and a streamlined sy...
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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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Credit Cards are Risky for Crypto Transactions, Says Taiwan’s Financial Watchdog
Credit cards should not be used for crypto-related transactions, as stated by Taiwan’s financial ...
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AFSA Amends AML/CFT Rules for Compliance with FATF Recommendations
AFSA has introduced amendments to the AIFC Anti-Money Laundering and Counter-Terrorist Financing ...
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UAE police show how fraudsters can access your bank account
Abu Dhabi Police has alerted people against the download of unknown apps so they can secure their...
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BSP Warns Banks Against Auto Loan Fraud
According to BSP, organized crime groups are using fake identities to sell vehicles under fake li...
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Turkey at Risk of Becoming a Haven for Russian Sanctions
Turkey is facing rising pressure for compliance with sanctions imposed on Russia and to increase ...
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