The Top 10  Most Difficult Countries for Identity Verification

The Top 10  Most Difficult Countries for Identity Verification

Download Report

    n-img-roi-cross

    Before You Go, Schedule Your Free Demo Today

    Valid Invalid number


    Note: Fields marked with an asterisk(*) are mandatory.

    n-exit-img-roi-cross

    Thank you for your demo request

    We appreciate your interest and look forward to discussing how our solution can meet your needs. Expect to hear from us shortly with scheduling details.

    Close

    us

    216.73.216.212

    EFCC Enforces Real Estate Agents to Comply with Anti-Money Laundering (AML) Regulations

    EFCC Enforces Real Estate Agents to Comply with Anti-Money Laundering (AML) Regulations ftr img

    The Economic and Financial Crimes Commission (EFCC) urges real estate agents to strengthen their collaboration with the commission to combat financial crimes.  

    The commander of the Ilorin zonal EFCC, Michael Nzekwe, has addressed the real estate agents to avoid being used by money launderers as a conduit pipe to launder black money. Nzekwe commanded real estate sectors to fight against financial crimes by complying with the latest Anti-Money Laundering (AML) obligations and enforcing strengthened measures as well as sharp compliance practices. 

    In the meeting with the executive members of the Kwara Estate Rent and Commission Agent Association of Nigeria (ERCAAN) at the commission office, the EFCC commander stated, “Real estate is an avenue through which corrupt Nigerians launder proceeds of crime. I was delighted when I got your letter that you would be coming to us on a courtesy visit because I know the visit will offer us the opportunity to discuss how we can deal with this issue.”

    He also emphasised that the real estate sector is a critical participant in fighting against money laundering and reducing corruption in the country, but all this can be accomplished once the industry devotes close consideration to the terms of the 2006 Advance Fee Fraud Act and other Fraud Related Offences Act including the new Money Laundering Act, 2022. The zonal commander also forced estate agents to comply adequately with the laws, particularly Section 3 of the AFF Act, 2006, which states, “A person who, being the occupier or is concerned in the management of any premises, causes or knowingly permits the premises to be used for any purpose which constitutes an offence under this Act commits an offence and is liable on conviction to imprisonment for a term not more than 15 years and not less than five years without the option of a fine.”

    According to Nzekwe, they should promote safe real estate businesses. Complying with the law places a serious responsibility on real estate agents to conduct adequate Know-Your-Customer (KYC) and due diligence practices in dealing with the entities so that in case of any fraudulent incident in the future, they are free of liabilities. 

    Suggested Reads: 

    EFCC WARNS FINANCIAL CRIME IS THRIVING IN REAL ESTATE
    EFCC URGES DNFBPS TO ALIGN OPERATIONS WITH NEWLY ENACTED MONEY LAUNDERING PROHIBITION AND PREVENTION ACT 2022
    ECONOMIC AND FINANCIAL CRIMES COMMISSION (EFCC) NOTIFIES ESTATE AGENTS OF ANTI-MONEY LAUNDERING PROCEDURES

    Related Posts

    News

    Amendments in Thailand’s Money Laundering Act to Include New Offenses

    A proposed amendment in Thailand’s Money Laundering Act was approved by the cabinet to include ad...

    Amendments in Thailand’s Money Laundering Act to Include New Offenses Explore More

    News

    Major Law Enforcement Operation Seizes 300 Crime Rings, Millions In Crypto Recovered

    Millions in crypto seized, 300 criminal syndicates raided and arrested.  In today’s financial cri...

    Major Law Enforcement Operation Seizes 300 Crime Rings, Millions In Crypto Recovered Explore More

    News

    AUSTRAC to Audit Three Bell Financial Group Entities to Evaluate AML/CFT Compliance

    AUSTRAC has called for the audit of three entities under the Bell Financial Group, including Bell...

    AUSTRAC to Audit Three Bell Financial Group Entities to Evaluate AML/CFT Compliance Explore More

    News

    EU Limits Use of Cash and Cryptocurrency to Curb Financial Fraud

    The European Union (EU) has issued new measures to limit use of cash and cryptocurrencies to tack...

    EU Limits Use of Cash and Cryptocurrency to Curb Financial Fraud Explore More

    News

    Vending machines can now be operated with Bitcoins

    Vending machines used by key Asia-Pacific soft-drink bottler and distributor Coca-Cola Amatil wil...

    Vending machines can now be operated with Bitcoins Explore More

    News

    Coincheck customers fall victim to a data breach

    In 2018, Coincheck, the Japanese firm, fell victim to probably the largest cryptocurrency hack in...

    Coincheck customers fall victim to a data breach Explore More

    News

    South Africa Introduces Biometric Child Registration To Stop ID Theft

    The Department of Home Affairs (DHA) in South Africa recently introduced a new method of biometri...

    South Africa Introduces Biometric Child Registration To Stop ID Theft Explore More

    News

    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...

    Six Men Arrested in Hong Kong for US$22.4 Million in Fraud Explore More

    News

    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 ...

    Economic and Financial Crimes Commission (EFCC) Notifies Estate Agents of Anti-Money Laundering Procedures Explore More

    News

    Czech Republic Ramps Up Efforts to Combat Financial Crimes

    According to a Moneyval report, the Czech Republic is showing progress in improving its complianc...

    Czech Republic Ramps Up Efforts to Combat Financial Crimes Explore More

    News

    Money Laundering Cases Doubled in the Past Six Years – Eurojust Report

    Eurojust has recorded around 3000 cases of cross-border money laundering over the last six years....

    Money Laundering Cases Doubled in the Past Six Years – Eurojust Report Explore More

    News

    Hong Kong Police Arrests 19 Criminals and Halts a US $40.5M Money-Laundering Operation

    Hong Kong Police arrested 19 syndicate members pertaining to money laundering operations, involve...

    Hong Kong Police Arrests 19 Criminals and Halts a US $40.5M Money-Laundering Operation Explore More

    News

    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...

    CBN Adds Cameroon, Croatia, Korea, and Vietnam to Money Laundering Watchlist Explore More

    News

    ICO Warns Public Bodies Over Failure to Respond FOI Requests

    ICO warned public bodies regarding Freedom of Information (FOI) requests failure. Different depar...

    ICO Warns Public Bodies Over Failure to Respond FOI Requests Explore More

    News

    Binance revokes Upbit hackers’ attempt to launder stolen funds

    At just after 16:00 UTC Wednesday, bot Twitter account Whale Alert notified Binance – which has e...

    Binance revokes Upbit hackers’ attempt to launder stolen funds Explore More

    News

    Taiwan’s Security Watchdog is Set to Regulate Local Crypto Industry to Prevent Money Laundering

    Taiwan’s top financial regulator is set to become the primary oversight body to monitor the...

    Taiwan’s Security Watchdog is Set to Regulate Local Crypto Industry to Prevent Money Laundering Explore More

    News

    Florida Man Charged $784 Million in Massive Healthcare Fraud

    Creaghan Harry, a man from Florida was indicted of $784 million for committing healthcare fraud a...

    Florida Man Charged $784 Million in Massive Healthcare Fraud Explore More

    News

    UAE to Include Crypto Framework in their 2021 Business Agenda

    The financial watchdogs in the UAE are looking towards developing a detailed crypto framework in ...

    UAE to Include Crypto Framework in their 2021 Business Agenda Explore More

    News

    FATF to Reassess Morocco’s AML Measures for Possible Removal from Gray List

    The Financial Action Task Force (FATF) is all ready to reevaluate Morocco’s Anti Money Laundering...

    FATF to Reassess Morocco’s AML Measures for Possible Removal from Gray List Explore More

    News

    New Zealand Forces Banks To Strengthen Their Security Measures

    New Zealand’s parliamentary committee has urged banks and financial institutes to bolster their s...

    New Zealand Forces Banks To Strengthen Their Security Measures Explore More

    News

    Netflix users targetted by scammers during COVID-19 outbreak

    According to a security company, Scammers are increasingly using the likeness of online streaming...

    Netflix users targetted by scammers during COVID-19 outbreak Explore More

    News

    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...

    FATF to Shorten Its Fifth Round of Mutual Evaluation to Assess Countries’ AML Regimes Explore More

    News

    Corrupt Countries Tend to Have a Higher Number of Crypto Users, Says IMF

    A recent International Monetary Fund (IMF) study shows that counties that have more corruption ha...

    Corrupt Countries Tend to Have a Higher Number of Crypto Users, Says IMF Explore More

    News

    GBA to Organize Two-day Training Workshop for Addressing AML and CFT Concerns

    GBA concluded a workshop on AML and terrorist financing concerns to avoid any possible threats of...

    GBA to Organize Two-day Training Workshop for Addressing AML and CFT Concerns Explore More

    News

    Half of Anti-malware Products fail to Recognize Notable Threats

    According to a new report by SE labs, Most popular, well-established cybersecurity solutions do n...

    Half of Anti-malware Products fail to Recognize Notable Threats Explore More

    News

    Financial Regulators in Uganda Demands Government to Set Crypto Regulations

    Uganda’s financia regulators, Financial Intelligence Authority (FIA), want the government to take...

    Financial Regulators in Uganda Demands Government to Set Crypto Regulations Explore More

    News

    Major US Twitter accounts hacked in Bitcoin scam

    Billionaires Elon Musk, Jeff Bezos, Barack Obama, Joe Biden and Bill Gates are among the many US ...

    Major US Twitter accounts hacked in Bitcoin scam Explore More

    News

    EU Fines Hungary for Declining to Lift Restrictions on Foreign Funded NGOs

    European Union, in Brussels, took an important step to penalize Hungary for not lifting restricti...

    EU Fines Hungary for Declining to Lift Restrictions on Foreign Funded NGOs Explore More

    News

    Gary Gensler- Former CFTC Chair to Join President-Elect Biden’s team as Financial Expert.

    A crypto-savvy and a CFTC (Commodity Futures Trading Commission) chair from President Obama’s gov...

    Gary Gensler- Former CFTC Chair to Join President-Elect Biden’s team as Financial Expert. Explore More

    News

    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’...

    Russian Central Bank Still Saying “No to Use of Crypto in Settlements” Explore More

    News

    EU, UK and US Blame Russia for Cyberattacks on Internet Service Providers

    Accusations were imposed on Russia due to the recent disastrous cyberattacks on the European sate...

    EU, UK and US Blame Russia for Cyberattacks on Internet Service Providers Explore More

    News

    Danske Bank Fined €1.82m Over AML and CTF Breaches

    Danske Bank was accused of AML compliance failings and fined €1.82m by the Central Bank, revealin...

    Danske Bank Fined €1.82m Over AML and CTF Breaches Explore More

    News

    Central Valley Towns Become the Hot Spot of Identity Theft

    A new report identifies a small number of Central Valley towns with the highest incidence of iden...

    Central Valley Towns Become the Hot Spot of Identity Theft Explore More

    News

    Hong Kong Sees 20-fold Spike in Investment Scam Losses – Report

    According to the Police, 725 cases of investment scams occurred within the first seven months of ...

    Hong Kong Sees 20-fold Spike in Investment Scam Losses – Report Explore More

    News

    13K Affected in Third-Party Data Breach at Anthem MaineHealth

    A third-party service provider accessed the database of Anthem MaineHealth and obtained patients’...

    13K Affected in Third-Party Data Breach at Anthem MaineHealth Explore More

    News

    Cyprus Securities and Exchange Commission Warns Investing Firms for AML Non-Compliance

    The Cyprus Securities and Exchange Commission (CySEC) warned the Cyprus Investment Firms (CIFs)  ...

    Cyprus Securities and Exchange Commission Warns Investing Firms for AML Non-Compliance Explore More

    News

    Croatian Finance Ministry Proposes New Bill to Combat Money Laundering

    The Croatian Finance Ministry has introduced a new bill for state institutions to monitor the ban...

    Croatian Finance Ministry Proposes New Bill to Combat Money Laundering Explore More

    News

    Liechtenstein’s Legal Authorities Backed by Moneyval on Improved AML/CFT Measures

    Moneyval has published a report backing Liechtenstein’s authorities on the measures it took again...

    Liechtenstein’s Legal Authorities Backed by Moneyval on Improved AML/CFT Measures Explore More

    News

    U.S Congress Suspects the Use of Bitcoin to Fund Domestic Terrorism

    U.S Congress subcommittee worries that Bitcoin might have been used in funding the Capitol revolt...

    U.S Congress Suspects the Use of Bitcoin to Fund Domestic Terrorism Explore More

    News

    Pinterest Enhances Age Verification Measures to Protect Users Under 16

    Pinterest reveals a new series of security features to make its platforms secure for teens. These...

    Pinterest Enhances Age Verification Measures to Protect Users Under 16 Explore More

    News

    SMS Phishing Scams are Impersonating State Agencies – FTC Warns

    FTC issues warning against SMS phishing attacks that are impersonating state workforce agencies t...

    SMS Phishing Scams are Impersonating State Agencies – FTC Warns Explore More

    News

    FATF Updates on South Africa’s AML Compliance Progress

    A report on South Africa’s progress in implementing AML procedures to prevent money launder...

    FATF Updates on South Africa’s AML Compliance Progress Explore More

    News

    FATF Removes Malta From gray List of Untrustworthy Financial Jurisdictions

    After one year of being included in the FATF grey list, the global action committee has voted Mal...

    FATF Removes Malta From gray List of Untrustworthy Financial Jurisdictions Explore More

    News

    Central Bank of Nigeria (CBN) Raises Concerns Over KYC and AML Protocols

    The Central Bank of Nigeria (CBN) has intensified pressure on financial institutions (FIs) to imp...

    Central Bank of Nigeria (CBN) Raises Concerns Over KYC and AML Protocols Explore More

    News

    Thousands of NSW driver’s licenses exposed online in a data breach

    Last week, tens of thousands of NSW driver’s licenses were left exposed online. The breach was ac...

    Thousands of NSW driver’s licenses exposed online in a data breach Explore More

    News

    FCA Spends $650K to Beef up its AML Control for the Crypto Industry

    FCA spends $670,000 on training cryptocurrency exchange staff along with strengthening AML requir...

    FCA Spends $650K to Beef up its AML Control for the Crypto Industry Explore More

    News

    Kuwait’s Largest Money Laundering Lawsuit, The Malaysian Fund Case Comes to An End

    Kuwait’s criminal court has put an end to the largest money laundering case by ruling the family ...

    Kuwait’s Largest Money Laundering Lawsuit, The Malaysian Fund Case Comes to An End Explore More

    News

    Interpol Warns of the Rise in Romance Scams as Valentine’s Day Approaches

    According to the Interpol, there is a new investment scam on the rise that is targeting the datin...

    Interpol Warns of the Rise in Romance Scams as Valentine’s Day Approaches Explore More

    News

    “Real Estate Is Critical To Money Laundering”, Says BSP

    The Governor of BSP bank emphasized the urgent need for brokers to guard real estate against mone...

    “Real Estate Is Critical To Money Laundering”, Says BSP Explore More

    News

    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...

    Canada’s Federal Agencies to Consult on Anti-Money Laundering and Counter-Terrorism Measures Explore More

    News

    UAE to Revolutionize the Financial Regulatory Requirements

    A new set of measures are being taken by the Ministry of Justice in the UAE to curb the money lau...

    UAE to Revolutionize the Financial Regulatory Requirements Explore More

    News

    Thailand Launches Anti-Online Scam Center to Combat Cybercrimes

    The Thai Government has officially launched the Anti-Online Scam Operation Centre (AOC) as of  No...

    Thailand Launches Anti-Online Scam Center to Combat Cybercrimes Explore More

    News

    AUSTRAC Throws in Hands in their Fight Against Money Laundering through Casino Junk Operators

    Australian regulatory bodies to fight financial crimes have known for quite a time that casino ju...

    AUSTRAC Throws in Hands in their Fight Against Money Laundering through Casino Junk Operators Explore More

    News

    OCC Warns Federal Banking System of Crypto & Cybersecurity Risks

    The OCC has warned the federal banking associations, branches and agencies on crypto-asset and cy...

    OCC Warns Federal Banking System of Crypto & Cybersecurity Risks Explore More

    News

    US Financial Committee to Investigate Crypto to Combat Terrorist Financing

    The US House of Financial Service Committee (FSC)  is set to conduct an in-depth investigation of...

    US Financial Committee to Investigate Crypto to Combat Terrorist Financing Explore More

    News

    Reserve Bank of Zimbabwe Reveals Most Banks Lose Correspondent Deals Due to AML Non-compliance

    The Reserve Bank of Zimbabwe (RBZ) Deputy Governor disclosed that most banks are losing clients d...

    Reserve Bank of Zimbabwe Reveals Most Banks Lose Correspondent Deals Due to AML Non-compliance Explore More

    News

    AUSTRAC Teams Up with Pacific to Counter Money Laundering For Enhanced Regional Security

    Australia’s AML Agency AUSTRAC has partnered with the Pacific Financial Intelligence Unit t...

    AUSTRAC Teams Up with Pacific to Counter Money Laundering For Enhanced Regional Security Explore More

    News

    FMA Sues Tiger Brokers for AML/CTF Breaches

    The Financial Markets Authority (FMA) has filed court proceedings against Tiger Brokers for alleg...

    FMA Sues Tiger Brokers for AML/CTF Breaches Explore More

    News

    Singapore’s Public Warned Against the Highly Volatile Crypto World

    Singapore’s financial regulators once again warn their public about the risks of the cryptocurren...

    Singapore’s Public Warned Against the Highly Volatile Crypto World Explore More

    News

    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...

    FinCEN Alerts FIs of Sanction Evasion by Russian Entities Implicated in U.S. Commercial Property Investments Explore More

    News

    AUSTRAC to Update Guidance for Threshold Transaction Reporting

    AUSTRAC has made it mandatory for reporting entities to include a threshold transaction report (T...

    AUSTRAC to Update Guidance for Threshold Transaction Reporting Explore More

    News

    Ransomware attacks rise as criminals target remote working

    Ransomware attacks are getting bigger and bolder at a time where many organisations are implement...

    Ransomware attacks rise as criminals target remote working Explore More

    News

    TSB Fined $3.5M on Account of Four AML Breaches

    New Zealand’s High Court has fined Trustee Savings Bank (TSB) Ltd NZD 3.5 million following the b...

    TSB Fined $3.5M on Account of Four AML Breaches Explore More

    News

    US Blocks Tornado Cash Investors for Money Laundering Risks & Links to Korean Hackers

    The United States has frozen the assets of crypto investors from Tornado Cash Service, saying it ...

    US Blocks Tornado Cash Investors for Money Laundering Risks & Links to Korean Hackers Explore More

    News

    ECB Releases Paper Revealing Financial Crime Risks in Cross-border Payments

    ECB has released a paper that reveals the financial risks associated with cross-border payments, ...

    ECB Releases Paper Revealing Financial Crime Risks in Cross-border Payments Explore More

    News

    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...

    EU Lawmakers Propose New Bill to Combat Money Laundering through NFTs Explore More

    News

    Europol Releases First Financial and Economic Crime Report

    Europol has published its first-ever threat assessment report on financial and economic crimes, h...

    Europol Releases First Financial and Economic Crime Report Explore More

    News

    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...

    Labor Party Victim of a Second Cyber-Attack Explore More

    News

    Californian man apprehended in Moorpark ID theft case

    A 37-year-old man in the Californian city of Bakersfield was arrested on Wednesday on suspicion o...

    Californian man apprehended in Moorpark ID theft case Explore More

    News

    Australian Banks Ban High-Risk Digital Currency Transactions

    Australian banks, Bendigo and Adelaide, have banned high-risk digital transactions to protect the...

    Australian Banks Ban High-Risk Digital Currency Transactions Explore More

    News

    Research for Implications of CBDC on the Rise in Australia

    As of the November 2 announcement of the Reserve Bank of Australia, the country has partnered wit...

    Research for Implications of CBDC on the Rise in Australia Explore More

    News

    Five Kenyan banks fined under AML laws

    Five commercial banks were imposed a fine of $3.75 million in Kenya for failing to report suspici...

    Five Kenyan banks fined under AML laws Explore More

    Take the next steps to better security.

    Contact us

    Get in touch with our experts. We'll help you find the perfect solution for your compliance and security needs.

    Contact us

    Request demo

    Get free access to our platform and try our products today.

    Get started