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UAE Imposes Dh65 Million Worth of AML Fines on 137 Companies
After examining 840 companies, 137 companies failed to comply with anti-money laundering and comb...
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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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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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Star Casino’s Share Tumbles 21% Following Money Laundering Allegations
Individuals banned from gambling at the Star casino in Sydney had been permitted to gamble at Sta...
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Cybercrime to Surge in Cryptocurrency Even in Post COVID-19 Economy
According to a report by Kaspersky Lab about cybersecurity and antivirus, in the post-COVID-19 wo...
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AFSA Amends AML/CFT Rules for Compliance with FATF Recommendations
AFSA has introduced amendments to the AIFC Anti-Money Laundering and Counter-Terrorist Financing ...
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Increasing Incidents of Fraud Becoming a Threat to UK’s National Security: UK Finance
Automated systems prevented approximately 736 million pounds ($1 billion) from being stolen throu...
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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...
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Archipelago Trading Fined $1.5 Million for SAR and AML Failings
The US Security and Exchange Commission (SEC) fined the Archipelago Trading company over the shor...
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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...
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Signature Bank under Criminal Investigation
US prosecutors are investigating the relation of Signature Bank with crypto clients as regulators...
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Ghana Records $4.33m Financial Losses to Cyber Fraud in Q1’23
Ghana suffered direct financial losses of US $4.33 million due to cyber fraud activities between ...
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China Enhances AML Obligations to Combat Money Laundering
Chinese authorities have released the latest guidelines to enhance security in the financial sect...
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US Treasury Department Introduces Beneficial Ownership Reporting Form to Enhance AML Measures
The US Treasury Department designed a beneficial ownership report form to strengthen the security...
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India to Introduce Physical Cryptocurrency Bank Branches
India has been rapidly adopting the changes in the digital world and introducing physical banks f...
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EU Warns About the Impact of COVID-19 on Non-Regulated Crypto Investments
European Union’s financial regulatory agency, the European Securities and Markets Authority (ESMA...
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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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SuperCare Health Faces Lawsuit for Having “Incompetent Security Measures” to Stop Data Breach
Plaintiff filed a lawsuit against SuperCare Health in the US Central District of California and a...
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Shufti Achieves iBeta Level 2 Compliance for Biometric Liveness Detection
London, UK – May 9, 2025 – Shufti has successfully achieved iBeta Level 2 compliance for its biom...
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Reports Reveal NAB Contract Workers Received Little to No AML Training
The disclosure follows AUSTRAC’s recent launch of a formal investigation into NAB earlier this mo...
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JFSC Penalizes Jersey Firms £700,000 for Violating AML Regulation
Three jersey based firms have been forced to pay a fine of more than £700,000 for breaching anti-...
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US Attorneys Probe into Binance Money Laundering Violations
US federal prosecutors have reportedly issued subpoenas to several hedge funds connected with Bin...
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Money Laundering Ring Pushed $4bn through 60 HSBC Accounts within 2 Years
60 HSBC accounts were used to launder USD 4.2 billion in Hong Kong.
An investigation carried out...
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US Crypto Firms Reluctant Towards New KYC/AML Proposal by FinCEN
The US crypto firm, Coinbase, sent a letter to FinCEN with a clear message, “There is no emergenc...
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UAE Making ‘Strong Progress’ in Efforts to Prevent Financial Crimes
The Minister of Foreign Affairs said that the UAE is making “strong progress” to prevent illicit ...
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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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Hong Kong further strengthens its Cryptocurrency regulations
Paul Chan, the Financial Secretary of Hong Kong, stated that the country was considering to stren...
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Australia DTA Consults on Upcoming “Trusted Digital Identity Bill”
The consultation will facilitate the Trusted Digital Identity Bill, making digital identity syste...
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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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FATF Examines Technology use in Making AML/CFT More Effective
FATF has recognized the importance of combining human input and manual review with automation for...
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European Commission Warns of Trade Laws Violation as EU Bans Tax-Haven Crypto Firms
The European Commission has issued a new warning on breaching global trade laws as the EU bans ta...
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EU Contemplates New Anti-Money Laundering Body in the Wake of Scandals
Brussels plans to pursue the strengthening of powers of the EU agencies to combat money launderin...
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Over $1 Billion Laundered Through Australia’s Pubs and Clubs Annually
A joint report by media outlets has shown evidence of over AU$1 billion being laundered throughou...
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South Korea Seizes $47M Worth of Crypto from Tax Evaders
South Korean officials have seized $47 million in cryptocurrency from 12,000 individuals accused ...
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UK Announces New Legislation to Regulate Crypto Assets Industry
The UK’s government has developed its first legal framework for cryptocurrency trading and ...
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The Netherlands To House an EU-based Anti-Money Laundering Agency in the Hague
The Netherlands is aiming to create a new anti-money laundering agency with the principles of the...
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Turkey to Ban Cryptocurrency Payments to Avoid Financial Crime
The Central Bank of Turkey is to ban the use of cryptocurrency payments by 30th April. This initi...
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Facebook’s New AI Can Help You Circumvent Facial Recognition
Facial recognition technology is primarily used to detect and identify people but in a turn of ev...
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Zipmex Crypto Trading Platform Suspends All Activities in Thailand
Zipmex cryptocurrency exchange firm withdrew all activities in Thailand until 31st January 2024 t...
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Shufti beats 26 global competitors in the Video KYC challenge at MEFTECH KSA
Yesterday, February 26, Shufti was announced the winner of the Lulu money’s Video KYC for Cus...
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EU Confirms its Firm Stance on All Digital Currencies
The EU has confirmed its firm stance on all the digital currencies until the associated risks hav...
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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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Kazakhstan has Improved to Achieve the Lowest Risk Score for ML/TF
According to the annual report of Basel Index 2020, among the 141 countries, Kazakhstan is at 73r...
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Beverly Hills Store Pleads Guilty to Conspiring with Drug Money Launderers
U.S. Private Vaults, Inc. has pleaded guilty to charges on its Beverly Hills store of conspiring...
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UAE Freezes Assets of Irish Crime Syndicate for Laundering Money Through Dubai
The UAE has frozen the assets of Ireland’s Kinahan Crime Syndicate, mounting the pressure on an o...
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United Nations Ranks Kenya at Position 24 in the Dirty Money Business
Every year, the United Nations conducts surveys on how the countries are performing. One of the U...
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Crypto-Supporting Digital Cards to be Launched Soon in China and Korea
UnionPay, an analogue for Visa and Mastercard service providers, has partnered with Danal, a Kore...
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UAE Levies Charges Over DH115 Million to Combat Money Laundering
A total of Dh115 million ($31.3 million) has been fined by the UAE in its efforts to impede money...
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Facebook and LinkedIn follow Twitter’s suit demanding Clear view AI to stop scrapping user images
The previous month, after NewYork Times’ critical report on the facial recognition tech of Clearv...
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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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Hong Kong Launches Meta Verse to Combat Crypto Crime
CyberDefender Metaverse is the first metaverse platform launched by Hong Kong Police to combat cr...
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BitMEX Founders Admit Violating Anti-Money Laundering Regulations
Two of the co-founders of crypto exchange BitMEX Arthur Hayes and Benjamin Delo have pleaded guil...
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Local Election Officials’ Emails Could be at risk for phishing attempts
Cybersecurity firm Area 1 found 666 of 10,000 election workers used personal email accounts
Accor...
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UAE Issues Deadline for Businesses to Register for AML System
The Ministry of Economy has highlighted the businesses that must register for the AML system. All...
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House Bill Passed in Philippine to Enforce AML LAW
House of Representatives has approved legal amendments to regulate the developers, metal dealers,...
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Equifax Survey shows Britain Prefers Biometric Verification
Credit reporting agency, Equifax, reports that Brits are much more open to adopting biometric aut...
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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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Action Fraud alerts shoppers about COVID-19 scams
Retail stores and other non-essential shops are recommencing across the United Kingdom, but many ...
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G20 regulator warns countries to alleviate risks of Libra-like stablecoins
The Financial Stability Board (FSB) has alerted national regulators to gauge standards and tackle...
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New Zealand to Introduce Digital IDs to Foster Trust in Online Transactions
New Zealand is working towards a national law that would bring consistency to the country’s effor...
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Taiwan Initiates Industry Association to Regulate Cryptocurrency Sector
Nine crypto exchange platforms formed a group to create an industry association to regulate Taiwa...
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UK court orders crypto exchange to shut down after clients lose $2M
In a recent statement, the U.K. government stated that 108 of their clients had lost a total of a...
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Largest Banking Cooperation in Columbia Busted for Violating Anti-money Laundering Regulations
Banco de Occidente, Columbia’s largest banking cooperation Grupo Aval owned by one of the richest...
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Chinese Firms to Test Crypto Opportunities in Hong Kong
Chinese Security companies and banks are attracted by Hong Kong’s retail trading in Bitcoin and E...
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FATF Highlights the Gaps in New Zealand’s AML Measures
Financial Action Task Force (FATF) has issued a report on New Zealand’s measures to combat money ...
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SuperCare Health Faces Lawsuit for Having “Incompetent Security Measures” to Stop Data Breach
Plaintiff filed a lawsuit against SuperCare Health in the US Central District of California and a...
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Digital euro successfully tested at the Bank of France
On May 20, Banque de France announced that France has become the first country to successfully te...
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Ransomware attacks three US universities
A ransomware group has successfully stricken three universities within the week. They claim that ...
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“Steer Clear Of Online Shopping Fraud This Holiday Season”, Says Victor Fredung
Following the FTC’s statement regarding online shopping fraud, Shufti’s CEO Victo...
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China Enhances AML Obligations to Combat Money Laundering
Chinese authorities have released the latest guidelines to enhance security in the financial sect...
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The market for Digital Identity Solutions expected to double by 2024
The market for Digital Identity Solutions is predicted to double between 2019 and 2024, as report...
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US Accuses Crypto Firms for Serving as Money Laundering Hub
The US Treasury’s department targeted the crypto mixers to combat internationally operated financ...
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