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FinCEN and OCC Fine Texas Bank $9 Million for BSA-AML Violations
A Texas community bank was fined by the Financial Crimes Enforcement Network (FinCEN) and the Off...
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UK Gambling Commission Fines 888 with £9.4m for AML Failings
Great Britain’s Gambling Commission has issued 888 with a fine of £9.4 million over a series of s...
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US Authorities Impose Anti-Money Laundering Crackdown on Offshore Lenders
The US Financial Crimes Enforcement Network (FinCEN) threatened offshore lenders with Anti-Money ...
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New Zealand’s FMA Issues New ID Verification Guideline
A new explanatory note has been issued by New Zealand identifying the sources of information that...
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The UK plans to levy on banks to prevent money laundering
According to Reuters, Britain plans to announce a new levy on banks and other financial instituti...
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Malta Claps Back To Allegations Of “Lax Crypto Oversight”
A business unit within Malta’s Chamber of Commerce has shut down all accusations that state that ...
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Shufti Relocates its London Office to Facilitate the Company Growth
March 2021, Shufti is pleased to announce the relocation of its London office to a larger and...
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FTX Customers File Class Action Against Bankrupt Crypto Exchange
FTX customers had filed a class action against the bankrupt crypto exchange and its ex-CEO Sam Ba...
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Landry’s Inc. warns customers of the potential data breach
Landry’s Inc., a parent company of more than 60 restaurant chains, installed a payment processing...
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Kuwait Bans Crypto-Related Activities to Combat Money Laundering
The government of Kuwait banned all crypto-related activities on July 18th, including mining, tra...
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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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Europe Bolsters Fight Against Financial Crime with AMLA Formation
The European Parliament (EP) and European Union (EU) council teams have agreed to create the Euro...
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FCA Fines Gatehouse Bank £1.58mn for Breaching Money Laundering Regulations
The Financial Conduct Authority (FCA) has fined Gatehouse Bank £1.58 million. The regulator disco...
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EU Urges the UK to Push Harder on Tax Avoidance and AML Regulations
The European Union has shown concerns regarding legal permits which allow financial services prov...
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State Street Bank fined $1.24 million for breaching AML laws
The US-based State Street bank has been hit with million-dollar money laundering fine. The Austra...
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EU Regulators Say Crypto Exchange Licenses Should be Revoked for Money Laundering
EU regulators have proposed that the licenses of crypto exchanges should be revoked in case of se...
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BPI Crackdowns on Money Mules to Secure Financial Institutions
The Bank of Philippine Islands (BPI) was flagged on Wednesday as it was suspected to be involved ...
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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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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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FATF Urges Japan to Implement Stronger AML Measures
The FATF mutual evaluation report on Japan proposes the formation of a joint-agency body to enhan...
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Roll-out of vital banking fraud check postponed again due to Coronavirus
A crucial banking security check that could avert the loss of millions of pounds to internet frau...
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Swedish Legislators Propose an Increase in Money Laundering Penalties for the Gambling Industry
Legislators in Sweden will consider increasing penalties for gambling operators who violate the n...
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Four Biggest Irish Banks Join Forces for Enhanced Security Measures
Four biggest banks in Ireland, AIB, Bank of Ireland, PTSB, and KBC, have collaborated on the meas...
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Belgian financial sector launches campaign to help consumers avoid online fraud
The financial sector’s federation, Fibelfin, is initiating a campaign to respond to the sense of ...
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AGA Issues Updated AML Compliance Guidelines for the Gaming Industry
American Gaming Association (AGA) launches the third edition of the Best Practices of AML Complia...
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Investment Bank Fined by FCA for Failing with Due Diligence Requirements
An Investment Bank in London, Sapien Captial, has been penalised by the financial regulator, Fina...
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Buy Now Pay Later Service Openpay Warned for AML Violations
Te Tari Taiwhenua, the Department of Internal Affairs, has issued a warning to an Australian Buy ...
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HMRC Fines Real Estate Agencies £500,000 for Anti-Money Laundering Violations
HMRC has issued a total of £519,645 in fines to 68 estate agents that failed to comply with rule...
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US Infrastructure Bill Eyes on Introducing Stringent Crypto Provisions
The infrastructure bill proposed in the US Congress aims at revamping how crypto exchanges perfor...
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FinCEN Launches Regulatory Process For AML Regulation on Antiquities
The ANPRM discusses how antiquities trade can be exploited by money launderers and terrorist fina...
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FinCEN Proposes Extension in Suspicious Activity Reporting Rules
The US Financial Crimes Enforcement Network (FinCEN) issued a Notice of Proposed Rulemaking (NPRM...
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ICAEW Calls for Professional Scepticism to Mitigate Money Laundering in UAE
The Institute of Chartered Accountants in England and Wales (ICAEW) and the UAE’s Accountants &am...
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CBUAE Cancels Registration of Insurance Broker for AML Non-compliance
The Central Bank of the UAE (CBUAE) has cancelled Al Fazaa’s registration as an insurance a...
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Digital Payment Providers Collaborate with UBA to Combat Scams in the Financial Sector
The National Payment Systems Services Association has collaborated with Uganda Bankers Associatio...
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Bank of Queensland Commits to Anti Money Laundering Laws and Risk Management
Bank of Queensland Ltd (BOQ.AX) disclosed that separate agreements had been reached with the coun...
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Crypto exchange owner admits laundering $1.8M in online auctions fraud
Vlad-Calin Nistor and 14 other accused, including the owner of a car wash, have all entered guilt...
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FCA Fines Nigeria’s Guaranty Trust Bank Over AML Control Failures
The (FCA) Financial Conduct Authority has charged 7.6 million pounds ($9.3 million) to the UK sub...
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WHO Warns about Online Job Scams during COVID-19 Pandemic
A message shared on WhatsApp and Facebook claims that the World Health Organization (WHO) is adve...
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Dark Web Becomes a Haven for Insurance Fraud
Dark Web has recently become a growing market for unemployment insurance fraud and fraudsters can...
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Canadian financial watchdog geared up for FATF compliance
The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) plans on closely regul...
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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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Colombia Releases New Regulations For Crypto Firms Operating in the Country
The Colombian government passed new drafts for the local crypto organisations to continue operati...
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455 Social Media Accounts Flagged for Rolling Out Fake IDs – Europol Reports
455 social media accounts flagged by Europol, which were providing fake identity documents to ill...
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Deutsche Bank AG Settles Money Laundering Probe Worth $7.1 Million
Deutsche Bank AG settled a money laundering case of $7.1 million over the probe by Frankfurt pros...
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Monetary Authority of Singapore to Support G20 TechSprint Initiative
The Monetary Authority of Singapore (MAS), the nation’s central bank and financial regulator, rec...
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The Next Big Step- Blockchain-Based E-voting
A Japanese firm, Layer X labs, has decided to work on the development of voting electronically by...
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FBI Expands its Corruption Unit to Closely Monitor Illicit Activities
The Federal Bureau of Investigation (FBI) has stepped in, to monitor international corruption by ...
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CSSF Imposed a €226,000 Fine on Maitland Over AML Compliance Failure
Maitland Luxembourg SA received a penalty of €226,000 over anti-money laundering and customer due...
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SA Government Passes New Legislation to Avoid FATF Gray list
South African government has passed two crucial legislations to prevent potential greylisting by ...
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EU’s New Anti-Money Laundering Watchdog to Monitor the Crypto Space
The European Union is developing a program to impose stringent regulations on the cryptocurrency ...
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Japan FSA, Central Bank to Assess FI’s AML, Anti-fraud Measures
Reports have revealed that Japan’s FSA and BOJ are seeking to better understand whether the curre...
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Govt assists Struggling Swiss Crypto Valley
Switzerland’s “Crypto Valley” is in talks with the federal government for fixing a 100 million Sw...
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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 ...
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AUSTRAC Made to Take Back Seat as Australia Defies Global AML Regulations
Australian Transaction Reports and Analysis Centre has taken Australia’s largest business to cons...
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EBA Issues Draft to Set up Central Database for AML and CFT
On December 20, 2021, the European Banking Authority (EBA) issued its draft Regulatory Technical ...
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Hacker steals $250K by exploiting Bitcoin exchange Bisq
A hacker identified a significant software flaw on the decentralized Bitcoin exchange, Bisq, to s...
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Coinbase Attorney Urges SEC to Announce Crypto Rules
Coinbase’s attorney forced the Securities and Exchange Commission (SEC) to announce a trans...
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Chinese Banks Promise To Step Up Cryptocurrency Ban
Some of the biggest banks in China have promised to refuse help to customers that trade with Bitc...
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SEC Partners with Government Agencies and Philippines Police to Combat Money Laundering
The SEC signed a data-sharing agreement with the Philippines police and other government agencies...
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Pandora Papers Update: Offshore Havens and Money Laundering Scandals Exposed
The Pandora Papers expose 35 world leaders, 300 public officials and 100+ billionaires, thus prov...
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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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SFC Imposed a HK$9 Fine on RIFA Future for KYC Failings
RIFA Limited was charged by the domestic regulatory authority of Hong Kong, the Securities and Fu...
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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...
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Cryptocurrency brought under AML rules in Singapore
Coinpip, the Singaporean cryptocurrency provider, has closed down its operations, in spite of dec...
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MBSB Bank to Implement BNM’s Requirements for Combating Financial Crimes
Bank Negara Malaysia announced additional security measures for financial institutions to strengt...
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FinCEN Alerts FIs on Nationwide Surge in Check Fraud Targeting U.S Mail
The FinCEN (Financial Crime Enforcement Network) issues an alert to all the FIs (Financial Instit...
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Crypto Exchange BKEX Freezes Withdrawals Under Money Laundering Investigation
BKEX withdrawals were suspended after funds on its platform were used to launder money, according...
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AML investigation results in NZ police freezing $140 million
Police have collected $140 million from the Canton Business Corporation and its owner Alexander V...
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EU Suggests Blacklisting UAE Following “Dubai Uncovered” Leaks
The EU has suggested blacklisting UAE under the “Dubai Uncovered” leaks depicting how sanctioned ...
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Nigerian-Owned Tech Firm, Flutterwave, Closes 45 Bank Accounts Due to Money Laundering
A group of 2,468 Nigerian nationals accused Flutterwave Payments Technology of defrauding them of...
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Expanding Fraud in Digital Space—Florida’s Government Raises Awareness
The Florida Department of Agriculture and Consumer Services issued a newsletter to alert people r...
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Formal Warning Issued to Westpac Over AML Failures, RBNZ Discloses
The bank underreported 8000 corporate transactions made overseas between July 2018 and February 2...
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