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The US Securities and Exchange Commission Identifies AML Failures of US Brokerage Firms
The Securities and Exchange Commission (SEC) has reported that compliance reviews of US brokerage...
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Binance’s Regulatory Setback in Singapore Shifts Attention to Middle East
Binance, the world’s largest cryptocurrency exchange, withdrew its application for licence in Sin...
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UAE central bank alerts about fraud attempts related to Coronavirus epidemic
Bank customers are warned of potential fraud by the UAE Central Bank. According to the bank, “Fra...
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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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Internet fraud complaints went up by 30% last year
As per Economic Affairs Minister Nathalie Muylle, Belgium’s Economic Inspection Unit received 29%...
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1803 Arrested in Money Laundering Crackdown Coordinated by 27 Countries
In a major money laundering crackdown, European police identified more than 18,000 money mules, a...
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Philippines anti-money laundering council demands strict POGO regulations
The Philippines Anti-Money Laundering Council (AMLC) has advised of an “increasing level of threa...
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Bank of Ghana Proposed Guidelines to Strengthen AML/CFT Regulation
The Bank of Ghana proposed guidelines for banks to enhance the Anti-Money Laundering and Combatin...
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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 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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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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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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Nigeria Employs New BOR Initiative to be Removed from FATF’s Gray List
A Beneficial Ownership Register (BOR) has been inaugurated by the Corporate Affairs Commission (C...
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Supreme People’s Court of China to Impose Severe Penalties for Financial Crimes
China’s top courts are set to impose heavier punishments to prevent financial crimes and mitigate...
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Namibia Enhances its National Crypto Strategy with New Legislation
Namibia raises the bar with new legislation in the National Crypto Strategy to combat crypto scam...
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Malta’s Justice Minister Ammends Legal Framework to Lighten Financial Crime Proceedings
Malta’s Justice Minister announces amendments in the court proceedings for financial crimes...
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US Regulators to Sharpen AML Expectations For Crypto Sector
The US regulators are increasing the AML compliance expectations within the crypto sector to ensu...
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US drug agency failed to properly oversee crypto investigations
It was published in the IG report, which is an audit of “income-generating, undercover operations...
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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) ...
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FATF to Decide Grey Listing of South Africa
FATF will announce its decision regarding the greylisting of South Africa on 24th February 2023. ...
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Global AML Watchdog FATF Puts UAE on the Grey List
The Paris-based Financial Action Task Force placed the UAE on the grey list for “strategic defici...
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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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UKGC Revoked IMME’s Licence for AML Non-compliance
Licence of IMME was revoked by the UK Gambling Commission for not complying with the Anti-Money L...
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Cybercrimes in UK have ‘doubled’ in past five years
Large businesses remain most at target but SMBs have seen the steepest rise in successful cyber a...
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BNM Issues New Policy For Remote Corporate Customer Onboarding
BNM has issued a new policy document that permits MSBs to onboard customers remotely in the corpo...
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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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Australian Law Council Reports Practitioners Successfully Mitigating Money Laundering Risks
The Australian Law Council claimed they noticed in the survey that lawyers uphold rigorous regula...
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Singapore and Europe Enhance AML Framework to Fight Financial Crimes Effectively
Singapore and Europe have emerged with enhanced AML requirements for corporate services businesse...
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AUSTRAC, Home Affairs Say Tech Capability Not There Yet for Crypto Travel Rule
While it is understood that the crypto Travel Rule will prove to be a ‘game changer’,...
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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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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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ICO Warns Public Bodies Over Failure to Respond FOI Requests
ICO warned public bodies regarding Freedom of Information (FOI) requests failure. Different depar...
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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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UK’s Decision to Dump the GDPR Raises Concerns for Online Gambling Sector
The UK is facing financial turbulence because of changing its way from participating in European ...
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Are Educational Institutes Becoming the Next Target for Money Laundering?
According to an investigation by The Times, higher-educational institutes have been unintentional...
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A Brussel Led Crackdown to be Held in Britain if EU Demands are not Met
MEPs have ordered Brussels to black-list the city of London if it does not comply with the EU’s D...
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Money Laundering Proceedings Against Pilatus Set Back Indefinitely
Money laundering proceedings against Pilatus Bank and its former top officials will likely be set...
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One Million Student Records Compromised by E-Learning Sites
About one million online student records that contain personal information of students have been ...
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Livestreaming Helps Shanghai Police Crack Money Laundering Case
There has been an arrest of a live streamer by Shanghai police who had been tipped off by a live ...
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Philippines AMLC Releases New Study for Suspicious Transactions Linked to Casino Junkets
The Philippines AMLC has officially published the latest study on suspicious transactions linked ...
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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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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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AMLC Downgrades Terror Financing Risks in the Philippines From High to Medium-High
According to the anti-money laundering council, the Philippines’ terrorist and terrorism fi...
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Hong Kong Legislators Invite Coinbase to the Region Despite SEC Concerns
Coinbase and other crypto exchanges have been invited to establish operations in Hong Kong; the r...
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UAE Endorses Legal Framework for Unlicensed Virtual Asset Platforms
The United Arab Emirates (UAE) issued new strict anti-money laundering regulations for unlicensed...
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The UK’s NCA Establishes New Unit to Clamp Down on Corrupt Elites & Money Launderers
The UK’s National Crime Agency (NCA) created a new unit with the aim to target and investigate co...
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Luxembourg Updates AML Laws for Verification of Beneficial Ownership
Luxembourg has amended its Anti-Money Laundering regulation requiring practitioners to identify b...
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New Bitcoin scam hits Canada
According to a report, a supposed Bitcoin (BTC) scam is now targeting residents of Winnipeg, Cana...
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Natwest Caps Transfer Limit to Binance Over Fraud Concerns
Natwest bank is scrutinizing cryptocurrency transactions, including Binance transactions, due to ...
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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...
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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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Palm Beach Art Dealer Charged With Money Laundering Through Fake Art
South Florida federal court received a complaint accusing art dealer Daniel Elie Bouaziz of wire ...
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ACCC Calls for Heavy Penalties to Make Tech Giants Scam-free
The Australian Competition and Consumer Commission (ACCC) has demanded severe penalties linked to...
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China Introduces 5-Point Strategy to Enforce Crypto AML Measures
China’s newly appointed governor of the Central Bank emphasised the AML regulations to safeguard ...
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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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Reddit follows Facebook suit and bans impersonation on its platform
Earlier this week, Facebook announced its new policy to ban manipulated pictures and videos known...
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UK Government Proposes New Cybersecurity Laws
The UK government proposed new laws for cybersecurity last week to increase security standards in...
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Feds Bust Columbian Drug Cartel’s Scheme to Launder “Millions” Through US Banks
A Columbian drug cartel’s scheme was busted by the federal prosecutors who moved millions through...
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Canada Seeks to Digitize ID-Documents for Enhanced Security Measures
Canada, Ontario’s government is working towards digitizing the identity documents and seeks publi...
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EU Proposes New AML Agency For Addressing Money Laundering
The EU document has been proposed to introduce tough action against money laundering in the regio...
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EU Sets a New Limit on Cash Transactions to Curb Financial Crimes
The EU countries have signed an agreement according to which the crypto-service providers must co...
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Money Laundering in Ireland Skyrockets as Criminals Move Online
The cases of money laundering in Ireland has more than doubled last year and now it has spiked si...
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EBRD and Central Bank of Jordan Raise Awareness Against Financial Crime
EBRD and the Central bank of Jordan join hands in running campaigns to raise awareness for the tr...
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Sri Lanka removed from the high-risk money-laundering list
COLOMBO – Sri Lanka was recently removed from the list of high-risk countries for money lau...
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Two More Crypto Firms to Shut Down Over EU Money Laundering Regulations
Two more cryptocurrency firms – mining pool Simplecoin and bitcoin gaming platform Chopcoin...
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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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“Money Mule Crimes Double in Cork, Students are an Easy Target”, Says the Police
According to police investigations, the number of money mule activities in Cork city has doubled ...
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CBA Fails to Disclose AML Non-Compliance to Investors, A Court Hears
A court has heard that the CBA should have informed the market that it may have engaged in “law-b...
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ICAEW and B20 Task Force to Introduce Recommendations For Combating Financial Crimes
Policies for anti-money laundering and terrorist financing compliance will be introduced to comba...
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Swiss Prosecutor Identifies Trail to Credit Suisse Money Laundering Case
A Swiss Prosecutor has identified the trail leading to the Credit Suisse money laundering case wo...
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US Seizes 18 Crypto ATMs Bought With Fraudulent Loans
US law enforcement has seized 18 cryptocurrency automated teller machines previously purchased vi...
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FATF Updates on South Africa’s AML Compliance Progress
A report on South Africa’s progress in implementing AML procedures to prevent money launder...
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