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Creating UBO Registry ‘Biggest Focus’ for US Treasury’s Anti-corruption Push
As part of the US government’s AML reform plan, an ultimate beneficiary ownership register will b...
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William Hill to Pay £19M for Social Responsibility and AML Failings
The Gambling Commission has fined William Hill Group Businesses £19 million for failing to uphold...
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AFM Fines Robeco €2 Million for AML Compliance Failure
The Netherlands’ financial regulator AFM has fined Robeco €2 million for failing to implement ade...
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AML Program Risks Highlighted by the Pandora Papers Scandal
Experts have advised compliance officers to divert their focus on EDD, CDD, and UBO verification ...
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CBN Introduces New Anti-Money Laundering Rules for Microfinance Banks
The Central Bank of Nigeria has issued a guidance note that is aimed to prevent money laundering ...
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SEC Cautions Citizens Regarding Digital Investment Scams in the Philippines
The Securities and Exchange Commission (SEC) has warned the public to pay caution while making d...
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MFSA, SEC, Along with FCA Introduces New AML Guidelines for Money Laundering Officers and Virtual Asset Service Providers
The Malta Financial Services Authority (MFSA), Securities and Exchange Commission (SEC), and Fina...
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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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Falklands and Gibraltar Still on Spanish ‘Tax Haven’ List, Says Report
The official Spanish Gazette published a list which consists of Falklands/Malvinas and Gibraltar ...
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Spanish Regulatory Authorities Take Action Against Illegal Crypto Promotion on Social Media
The Spanish National Securities Market Commission (CNMV) is preparing rigid measures to prevent i...
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AML/KYC Non-compliance Penalties Drop by 40% in the Second Half of 2021
KYC/AML non-compliance penalties have dropped by 40% in the second half of 2021. However, this do...
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Vietnam’s Ministry Concerned About the Risks Attached to Crypto Trading
The Finance Ministry in Vietnam has declared that cryptocurrencies have no legal framework in the...
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The Corporate Transparency Act is Set to be Implemented in January 2024 Across the Country
The Corporate Transparency Act passed in 2021 is going into enforcement in a few days and will im...
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Japan Calls for Disclosure of Major Company Shareholders
Japan’s Ministry of Justice will require firms to submit details of their major shareholders, als...
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“Student” Occupation Flagged for Money Laundering in Canadian Real Estate
Son of “wanted for defrauding 60,000 investors” Chinese parents laundered millions of dollars int...
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Bank of Ireland Warns Customers of Rise in Phone Call and Text Scams
Bank of Ireland has warned clients of a surge in phone calls and text message scams. As per the f...
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FATF: US largely complacent with virtual currency regulations
The Financial Action Task Force (FATF) has rated the U.S. “largely compliant” with its revised cr...
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Singapore Seizes $2 Billion Worth of Assets in Money Laundering Investigation
Singaporean regulatory authorities officials accused lax immigration policies of large inflows of...
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Interpol Warns of the Rise in Romance Scams as Valentine’s Day Approaches
According to the Interpol, there is a new investment scam on the rise that is targeting the datin...
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Money Laundering and Drug Trafficking Account for Illicit Flow of US$ 1 Billion into Jamaica Annually
Reports have highlighted that money laundering, drug trafficking, and cybercrimes account for the...
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Russian Financial Authorities Reach Consensus on Crypto Mining Regulation
Russian financial authorities have adopted a common ground on cryptocurrency mining regulation. T...
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FIU in Sri Lanka Penalises Financial Firms over AML/CFT Non-Compliance
Sri Lanka’s Financial Intelligence Unit (FIU) has recently penalised two financial institutions i...
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Compliance Specialists Remind Letting Agents to Meet HMRC Deadline
The real estate industry in the UK is being constantly reminded that the deadline for registering...
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OCBC Fines Money Laundering Suspect $19.7million
The Oversea-Chinese Banking Corporation (OCBC) has fined the individuals involved in Singapore’s ...
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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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SEC Move Ahead with Regulation of Virtual Assets Service Providers (VASPs)
Ghana’s Security Exchange Commission (SEC) has begun endorsing plans to regulate the crypto indus...
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Aussies Lost Record-breaking $851 million During COVID-19: ACCC Reports
Amid the pandemic, Australians lost a record-breaking amount of $851 million in 2020. According t...
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Ontario’s Casinos Need to Strengthen Efforts to Curb Money Laundering
According to Auditor General Bonnie Lysyk, Ontario’s casinos need to strengthen efforts in order ...
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Crypto Scams Reach New Heights in 2020 With $24M Stolen So Far
Whale Alert alleges that crypto scams are skyrocketing so far in 2020.
A report revealed,scammer...
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EU Parliament Committee Backs MiCA Deal to Effectively Manage Crypto
The MiCA deal has been approved by the economic committee of the EU Parliament. The committee has...
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FATF Calls for Tighter Regulations to Fill Voids in Virtual Asset Compliance
The Financial Action Task Force (FATF) highlighted a regulatory gap in the compliance system for ...
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$6.1 Million Seized As US Treasury Sanctions Another Crypto Exchange
The US Department of the Treasury has sanctioned Chatex crypto exchange “for facilitating financi...
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Vietnam’s New Legislation on E-Transactions Will Take Effect on July 2024
The National Assembly of Vietnam passed the new e-Transaction law replacing the previous one, No....
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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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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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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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Pandora Papers Highlight ‘Gatekeepers’ of Black Money, says EU Financial Watchdog
The new report of MONEYVAL offers a diminishing rebuke across European governments that are unabl...
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EU Watchdog Takes Deep Dive Into Banks’ Use of Technology
EU’s banking watchdog has recognized the need for RegTech solutions and proper regulatory standar...
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UAE Authorities to Coordinate Efforts Against ML/TF Among NPOs
The UAE’s Ministry of Community Development and the Financial Intelligence Unit have established ...
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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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US Senators Urge CISA to Incorporate Rules for Ransomware Reporting
US senators have urged the CISA to enforce new ransomware reporting rules amid a sharp increase i...
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Joint ATO Operation Busts $137m Fraud Ring
The Australian Border Force (ABF) and the Serious Financial Crime Taskforce (SFCT) have jointly i...
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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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MGA to Introduce Detailed Player Protection Guidelines for Responsible Gambling
Malta Gaming Authority is set to introduce player protection guidelines after being placed on the...
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EU Parliament Reaches Provisional Agreement on Extending Rules for Crypto Assets
The Council Presidency has reached a provisional agreement with the EU Parliament regarding the r...
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IMF Urges Philippines to Enhance AML Measures to be Removed from Grey List
The International Monetary Fund (IMF) stated that the Philippines government should adopt an enha...
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Shufti introduces react native app for customer convenience
Recently, Shufti launched its react native app for enhanced customer convenience.
Shufti ...
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The Cayman Islands Pleads to be Removed from the FATF’s ‘Gray List’ of Jurisdictions Suspected of Money Laundering
An initiative by the Cayman Islands in France, on June 19th, asked the Financial Authority Task F...
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Sri Lankan Regulatory Authorities Enforce AML/CFT Measures to Avoid FATF Grey and Black List
The Financial Action Task Force (FATF) started cracking down on Sri Lanka’s financial institutes ...
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AUSTRAC Has Published a New Guidance For Detecting “Cuckoo Smurfing”
AUSTRAC’s guidance offers indicators for financial institutions, to allow them to detect suspicio...
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Dubai Sets up Special Court to Tackle Money Laundering
The new court of law has been established to combat money laundering and related financial crimes...
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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...
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“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...
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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...
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UAE’s AML Body Adopts Regulatory Framework for Virtual Assets
The new rule for virtual assets has been devised in accordance with the crypto travel rule issued...
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Bulgaria Must Strengthen its Measures Against Money Laundering & Terrorist Financing – Moneyval
Moneyval called on Bulgaria to improve the regulatory standards for the domestic framework consis...
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The Financial Intelligence Analysis Unit Levies Fines Worth €2.2 Million in the First Half of 2023
The Financial Intelligence Analysis Unit fined €2.2 million in the first half of 2023. A constitu...
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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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Money Service Businesses Tighten AML/CFT Measures Amid Challenges
Microfinance firms, remittance services, and cambios have reported success in upgrading AML/CFT m...
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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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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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EU Takes First Step to Set Up Anti-Money Laundering Supervisor
The European Union should contemplate creating an independent agency to supervise anti-money laun...
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Visa: CBDC is the most important trend in payments
According to Visa’s Head of Crypto, Central Bank Digital Currencies, or CBDC, seems to be one of ...
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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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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 ...
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Europol Releases First Financial and Economic Crime Report
Europol has published its first-ever threat assessment report on financial and economic crimes, h...
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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...
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BaFin Threatens Deutsche Bank of Fines Over Weak AML Controls
Germany’s Financial Watchdog BaFin is not satisfied with the efforts of Deutsche Bank AG to contr...
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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...
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SEC Files Money Laundering Complaint Against Silverlion
The Security Exchange Commission (SEC) filed a case against Silverlion Livestock Trading Corporat...
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MP Calls in For UK’s Defences in Opposition to “Dirty Money” Overrun
The cross-party group of MP declares UK defences in becoming the “jurisdiction of choice for dirt...
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Saudi Bank Warns Citizens Against Financial Fraud Schemes Circulating via Fake News Websites
The Saudi Ministry of Commerce is reiterating warnings about fake news websites looting people by...
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