The Top 10  Most Difficult Countries for Identity Verification

The Top 10  Most Difficult Countries for Identity Verification

Download Report

EU to add Panama, Bahamas, and others to money-laundering blacklist

EU

The European Commission has included Mauritius, Panama, and ten other states to its list of countries that present a financial risk to the association due to shortcomings in anti-money laundering and terrorism financing laws.

The document, which is expected to be published today, also includes countries such as Botswana, Ghana, Jamaica, Myanmar, Mongolia, Cambodia, Nicaragua, Barbados, and Zimbabwe to the EU listing.

According to the draft document, countries on the list, “pose significant threats to the financial system of the union.” Under European Union law, banks and other financial institutions are compelled to closely monitor their customers who have dealings with countries on the list.

Related Posts

News

Gambling Commission Fines Entain £17m for Social Responsibility & Anti-Money Laundering Failures

Ladbrokes owner Entain has been fined £17m by the Gambling Commission for social responsibility a...

Gambling Commission Fines Entain £17m for Social Responsibility & Anti-Money Laundering Failures Explore More

News

Alfa-Bank to Offer Blockchain-Based Services for the Self-Employed People and Freelancers

Alfa-Bank is one of the largest private commercial banks in Russia which is exploring blockchain-...

Alfa-Bank to Offer Blockchain-Based Services for the Self-Employed People and Freelancers Explore More

News

California to Reopen its Economy with COVID Vaccine and Testing Requirements

After more than a year of COVID-19 restrictions, the State of California to finally reopen its ec...

California to Reopen its Economy with COVID Vaccine and Testing Requirements Explore More

News

EMI Flagged Nearly 40% of UK’s E-Money Exchanges for Money Laundering Risk

A report from Transparency International revealed that nearly 40% of the UK’s e-payment companies...

EMI Flagged Nearly 40% of UK’s E-Money Exchanges for Money Laundering Risk Explore More

News

Media Industry Suffer Huge Increase in Cyber-Attacks

The media industry is increasingly under the threat of cyberattacks. It suffered 17 billion crede...

Media Industry Suffer Huge Increase in Cyber-Attacks Explore More

News

Facebook’s Libra is a Failure in its Current Form says Swiss President

According to the Swiss President, the controversial project by Facebook has ‘failed’ in its curre...

Facebook’s Libra is a Failure in its Current Form says Swiss President Explore More

News

Blockchain officially becomes part of China’s tech strategy

According to the National Development and Reform Commission (NDRC), China will use Blockchain to ...

Blockchain officially becomes part of China’s tech strategy Explore More

News

FCA Advises Firms to Embed Data and Technology to Combat Financial Crimes

Sarah Pritchard, the FCA executive director of markets, spoke at the Financial Crime Summit in Lo...

FCA Advises Firms to Embed Data and Technology to Combat Financial Crimes Explore More

News

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 ...

Business Registry and FIAU Join Hands to Get Malta Off FATF Grey List Explore More

News

Shufti’s Age Verification Solution Approved by KJM

Germany’s Commission for media, Kommission für Jugendmedienschutz (KJM), has approved Shufti’...

Shufti’s Age Verification Solution Approved by KJM Explore More

News

FCA Dismisses Temporary Permissions of 4 EU Firms Operating in the UK

UK’s Financial Conduct Authority (FCA) has called out EU firms operating in the UK to meet their ...

FCA Dismisses Temporary Permissions of 4 EU Firms Operating in the UK Explore More

News

MAS Imposes Capital Requirements on OCBC for Inadequate Scam Response

Additional capital requirements have been imposed on the OCBC bank by the Monetary Authority of S...

MAS Imposes Capital Requirements on OCBC for Inadequate Scam Response 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

FATF Issues Guidance Paper For Incorporating Digital ID

The Financial Action Task Force (FATF) has issued a guidance paper, last week, that outlines a ri...

FATF Issues Guidance Paper For Incorporating Digital ID Explore More

News

UAE Imposes Strict Penalties for AML and CFT Failings

The UAE is set to be removed from the FATF’s Gray List in the upcoming year as it substantially i...

UAE Imposes Strict Penalties for AML and CFT Failings Explore More

News

Singapore Police Warn Citizens of Prevailing SMS Phishing Scams

The Singapore Police Force has warned citizens about SMS fraud targeting people with similar send...

Singapore Police Warn Citizens of Prevailing SMS Phishing Scams Explore More

News

Research and Data are Key to Developing Fair Crypto Regulations, Say Blockchain Experts

As global regulators are looking to have control over crypto, blockchain analysts say that lawmak...

Research and Data are Key to Developing Fair Crypto Regulations, Say Blockchain Experts Explore More

News

Silvergate Bank ‘Aided and Abetted’ FTX Fraud, Alleges Lawsuit

The latest class action filings in the string of lawsuits allege Silvergate Bank over the last tw...

Silvergate Bank ‘Aided and Abetted’ FTX Fraud, Alleges Lawsuit Explore More

News

FATF and EU Delist Bahamas from AML Blacklist

European Union has finally removed Bahamas from its AML blacklist, right after FATF has delisted ...

FATF and EU Delist Bahamas from AML Blacklist Explore More

News

Banks in the UK Face Customer Frustration for Digital Identity Checks

The global analytics software service provider FICO has reported that the banks in the United Kin...

Banks in the UK Face Customer Frustration for Digital Identity Checks Explore More

News

LocalBitcoins Matching Exchange, Cited By U.S. In Bizlato Case, To Shut Down After 10 Years

LocalBitcoins, the crypto firm named by the US treasury in the Bizlato exchange case, has announc...

LocalBitcoins Matching Exchange, Cited By U.S. In Bizlato Case, To Shut Down After 10 Years Explore More

News

UAE Central Bank Imposes Dh352k Fine on Currency Exchange

The Central Bank of the UAE has fined an exchange house with a total of Dh352,000 for shortcoming...

UAE Central Bank Imposes Dh352k Fine on Currency Exchange Explore More

News

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...

Shufti Relocates its London Office to Facilitate the Company Growth Explore More

News

EU to Introduce Uniform Legal Framework for Crypto Assets

The EU is negotiating on new rules for introducing a uniform legal framework for crypto assets wi...

EU to Introduce Uniform Legal Framework for Crypto Assets Explore More

News

US Officials allege student defrauded Apple as part of SIM swap attack

Richard Yuan Li, a student at the University of California-San Diego, is charged with plotting to...

US Officials allege student defrauded Apple as part of SIM swap attack Explore More

News

The EU and UK Announce Major Regulatory Reforms to Safeguard Crypto-Assets

EU implements unified crypto-asset regulations, MiCA, and incorporates Travel Rule to secure cryp...

The EU and UK Announce Major Regulatory Reforms to Safeguard Crypto-Assets Explore More

News

FinTech in Malaysia is Improving Due to Friendly Regulations

Malaysia has taken a user-friendly approach to adapt to financial regulations as it is working to...

FinTech in Malaysia is Improving Due to Friendly Regulations Explore More

News

Danish Financial Regulatory Authority Orders Betfair to Address Money Laundering Violations

A subsidiary of Flutter Entertainment, Betfair International, has been sanctioned by the Danish f...

Danish Financial Regulatory Authority Orders Betfair to Address Money Laundering Violations Explore More

News

DC is the Latest State to Sue Juul over Targeting Minors

The District of Columbia is now the latest state to sue c-cigarette maker, Juul Labs, saying the ...

DC is the Latest State to Sue Juul over Targeting Minors Explore More

News

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...

African Federal Government Urges Collaboration to Combat Money Laundering and Terrorist Financing Explore More

News

Ireland’s Central Bank Found Gaps in Anti-Money Laundering Compliance Practices

Ireland’s Central bank has found that certain financial firms are lacking in regards to anti-mone...

Ireland’s Central Bank Found Gaps in Anti-Money Laundering Compliance Practices Explore More

News

Feds Uncover $12M Money Laundering Operation Between U.S. and Dubai

Prosecutors have uncovered a money laundering scheme dubbed “The Shadow Exchange” worth USD 12 mi...

Feds Uncover $12M Money Laundering Operation Between U.S. and Dubai Explore More

News

FATF Updates Guidance on Strengthening Beneficial Ownership Information

The Financial Action Task Force (FATF), in recommendation 24, established the first international...

FATF Updates Guidance on Strengthening Beneficial Ownership Information Explore More

News

Data of Half-Million Chicago Students Exposed in a Ransomware Attack

The personal information of more than half a million Chicago students and the staff was accessed ...

Data of Half-Million Chicago Students Exposed in a Ransomware Attack Explore More

News

German Watchdog Extends N26 Measures to Prevent Money Laundering

BaFin, the German financial regulator, stated on July 17th, that it was extending its measures to...

German Watchdog Extends N26 Measures to Prevent Money Laundering Explore More

News

Artist Sues AI Generators for Alleged Industrial-Level Identity Theft

Artist, Karla Ortiz, has sued two artificial intelligence firms for generating images that mimic ...

Artist Sues AI Generators for Alleged Industrial-Level Identity Theft Explore More

News

Macau Police Arrests Cross-border Money Laundering Group for Illicit Financing of HK1.1 Billion

A group of 22 individuals were arrested by authorities in Macau and HK for suspicions of being in...

Macau Police Arrests Cross-border Money Laundering Group for Illicit Financing of HK1.1 Billion Explore More

News

AML investigation results in NZ police freezing $140 million

Police have collected $140 million from the Canton Business Corporation and its owner Alexander V...

AML investigation results in NZ police freezing $140 million Explore More

News

Binance Tightens KYC Verification to Meet Regulatory Compliance

Customers that fail to meet the new requirements will only be allowed to withdraw funds, close po...

Binance Tightens KYC Verification to Meet Regulatory Compliance Explore More

News

China’s Fight Against Rampant Telecom Scams – Cracked 5,94000 Cases in Just 15 Months

China has passed a law to prevent telecom and online scams, allowing enforcement agencies to foll...

China’s Fight Against Rampant Telecom Scams – Cracked 5,94000 Cases in Just 15 Months Explore More

News

UAE Issues a Total of $11 Million in Fines for AML Offenses in First Half of 2022

UAE’s AML task force has imposed fines of over Dh41 million ($11m) in the first six months of 202...

UAE Issues a Total of $11 Million in Fines for AML Offenses in First Half of 2022 Explore More

News

Scammers and Hackers Use Cloud Mining to Launder Cryptocurrencies

According to new research, the use of cloud mining methods to conceal crypto funds has intensifie...

Scammers and Hackers Use Cloud Mining to Launder Cryptocurrencies Explore More

News

CBN Introduces Guidelines to Curb Money Laundering in the Financial Sector

The Central Bank of Nigeria (CBN) has issued guidelines on anti-money laundering and combating th...

CBN Introduces Guidelines to Curb Money Laundering in the Financial Sector Explore More

News

North Korean bankers charged in $2.5 billion money-laundering scheme

The US Department of Justice recently revealed criminal charges against about twenty-four North K...

North Korean bankers charged in $2.5 billion money-laundering scheme 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

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

Cayman Island Businesses Urged to Maintain Beneficial Ownership Information

Cayman companies are urged to maintain beneficial ownership information in accordance with intern...

Cayman Island Businesses Urged to Maintain Beneficial Ownership Information Explore More

News

USD 10.4 Billion Paid by Financial Groups in 2020 in Regulatory Fines

Know Your Customer and Anti-money Laundering non-compliance penalties rose 26% this year. Many pr...

USD 10.4 Billion Paid by Financial Groups in 2020 in Regulatory Fines Explore More

News

UAE Establishes New Federal Authority for “Commercial Gaming” to Control Casino Giants

The UAE government is ready to launch a new federal authority to regulate online lottery business...

UAE Establishes New Federal Authority for “Commercial Gaming” to Control Casino Giants Explore More

News

Shufti’s Age Verification Solution Approved by KJM

Germany’s Commission for media, Kommission für Jugendmedienschutz (KJM), has approved Shufti’...

Shufti’s Age Verification Solution Approved by KJM Explore More

News

Scottish Firm Blacklisted by the World Bank for Fraudulent Practices

An anonymously owned Scottish firm has been blacklisted by the World Bank for being involved in f...

Scottish Firm Blacklisted by the World Bank for Fraudulent Practices Explore More

News

UAE Charges Six Companies with Dh3.2 Million for AML/CTF Violations

The UAE has fined six companies Dh3.2 million for failing to comply with Anti-Money Laundering an...

UAE Charges Six Companies with Dh3.2 Million for AML/CTF Violations 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

Fraudsters Target UK’s £400 Energy Bill Support Scheme through Scam Texts

Fraudsters are taking advantage of the support program initiated for people to lessen the burden ...

Fraudsters Target UK’s £400 Energy Bill Support Scheme through Scam Texts Explore More

News

Jamaica Shows Significant Progress in Anti-Money Laundering Compliance

Jamaica impressively complied with 37 recommendations from 40 international Financial Action Task...

Jamaica Shows Significant Progress in Anti-Money Laundering Compliance Explore More

News

China’s Top Leaders Indicate the Further Tightening of Financial Regulations

Chinese leaders have indicated that the country will move to further strengthening of financial r...

China’s Top Leaders Indicate the Further Tightening of Financial Regulations Explore More

News

FMA Blacklists Krypto Security, Bay Exchange, and CTRL Investments Limited

New Zealand’s FMA has warned investors against services and products being offered by unauthorize...

FMA Blacklists Krypto Security, Bay Exchange, and CTRL Investments Limited Explore More

News

Switzerland Introduces New Regulations To Clamp Down on Money Laundering

Switzerland proposed new Anti-Money Laundering (AML) regulations to crack down on money launderin...

Switzerland Introduces New Regulations To Clamp Down on Money Laundering Explore More

News

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...

NYDFS States Signature Bank’s Closure Was Not Linked to Crypto Explore More

News

Moroccan Charity, Najiba Foundation, Faces Account Termination by ING Bank for AML Failures

Internationale Nederlanden Groep (ING) wants to terminate one of the largest Moroccan charity fou...

Moroccan Charity, Najiba Foundation, Faces Account Termination by ING Bank for AML Failures Explore More

News

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...

HMRC Fines Real Estate Agencies £500,000 for Anti-Money Laundering Violations Explore More

News

KYC/AML and Sanctions fines reach $5.6 billion mid-year for global financial institutions

The leading provider of digital transformation and client lifecycle management (CLM) solution, Fe...

KYC/AML and Sanctions fines reach $5.6 billion mid-year for global financial institutions Explore More

News

Singaporean Banks Enhance Security to Combat Financial Crime

The Monetary Authority of Singapore (MAS) stated that the country’s banks are enhancing security ...

Singaporean Banks Enhance Security to Combat Financial Crime Explore More

News

Filipino crypto scammers are impersonating government officials for profit

A Filipino finance entity warns against the supposed crypto Ponzi scheme Bitcoin Revolution, blam...

Filipino crypto scammers are impersonating government officials for profit Explore More

News

Legal Challenges Against TikTok for Breaching Child Privacy Policy

TikTok, the most trending social media application in the present times is facing legal actions f...

Legal Challenges Against TikTok for Breaching Child Privacy Policy Explore More

News

DHS 19.5 Million Fine Imposed on UAE Banks for AML Failings

The Central Bank has imposed Dhs 19.5 million fine on UAE’s banks for shortcomings in the AML fra...

DHS 19.5 Million Fine Imposed on UAE Banks for AML Failings Explore More

News

AUD 10 Billion Money Laundering Ring Caught in Australia, Further Highlighting the Country’s AML Failures

AUD 10 billion ($6.5 billion) in global money laundering was allegedly uncovered in Sydney by the...

AUD 10 Billion Money Laundering Ring Caught in Australia, Further Highlighting the Country’s AML Failures Explore More

News

Austrac Warns of Money Laundering Risks Unless More Prosecutions are Conducted

Austrac has warned the law enforcement agencies in Australia that they must conduct more money la...

Austrac Warns of Money Laundering Risks Unless More Prosecutions are Conducted Explore More

News

NSW Make Reforms to Counter Money Laundering and Gambling

The New South Wales government embraces new reforms to counter the issue of money laundering and ...

NSW Make Reforms to Counter Money Laundering and Gambling Explore More

News

UK Government Aims to Recover £1 Billion Lost Funds Over the Next Decade

The UK Government has put technology as the front and centre force to fight crimes and reinforce ...

UK Government Aims to Recover £1 Billion Lost Funds Over the Next Decade Explore More

News

Online Gaming Used by Criminals to Groom Minors into Drug Mules

Criminal networks are now applying the use of online video game, Fortnite, to groom minors around...

Online Gaming Used by Criminals to Groom Minors into Drug Mules Explore More

News

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...

Binance to Strengthen KYC Measures & Sanctions Enforcement with New Partnerships 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