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AUSTRAC Warns Banks Against Closing Accounts of Crypto Traders
AUSTRAC shows full support for the Australian crypto industry and is issuing warnings to banks ag...
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RoC of the Cayman Fines Companies failing to Reveal Beneficial Owner’s Name
Cayman Island’s Registrar of Companies has begun penalizing the financial firms for not disclosin...
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Abu Dhabi to Establish Executive Office to Combat Illicit Financial Flow
A specialised court in Abu Dhabi will be developed to oversee the measures to fight financial cri...
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Money Laundering Scheme by Crime Gangs Focuses on Ireland
International criminal organisations are using millions of euros in legitimate products to mask s...
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Southern District of New York Alleges Danske Bank against Serious AML Scandal
SDNY sentences Danske Bank with three years of probation on the tale of whistleblowing and mislea...
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Ghost Coin deployed as payment for vending machines in Hong Kong
Ghost Coin, the privacy coin headed by John McAfee, can now be installed in vending machines in H...
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“Beneficial Ownership Data Must be Structured, Centralised and Accessible”, Says GCFFC
According to the paper issued by the GCFFC, data must be structured, centrally collated, interope...
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Turkish Regulatory Authorities Launch Investigation on Social Media Influencers for Money Laundering
Turkey’s Minister of Social and Labour Security Department stated they are conducting an in-depth...
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Westpac CEO Brian Hertzer Resigns Amid Money-Laundering Scandal
The chief executive of Westpac Banking Corporation, Brian Hartzer, has resigned and the chairman ...
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AUSTRAC Initiates Probe into Sportsbet and Bet365 over Money Laundering Suspicions
AUSTRAC launches investigations into gambling firms for suspicions of failing AML/CFT compliance,...
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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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U.K Accelerates New Plans to Crack Down on Foreign Money Laundering Activities
The U.K plans to crack down on money laundering activities, legislate new laws to register foreig...
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Regional Watchdog Assesses the AML Protocols Followed by Liberia to Fight Money Laundering
The Financial Intelligence Unit of Liberia has established the Inter-governmental Action Group Ag...
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14 Arrested in Money-Laundering Crackdown, Over HK$300 Million Seized
Hong Kong police carried out a crackdown on money laundering groups, 14 arrested and HK$300 milli...
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Half of Anti-malware Products fail to Recognize Notable Threats
According to a new report by SE labs, Most popular, well-established cybersecurity solutions do n...
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$320 Million Worth of Cryptocurrency Stolen in Wormhole Hack
A recent hack on one of the most popular blockchain bridges linking Ethereum and Solana led to th...
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Video KYC: The New Normal in the Insurance Industry
Since everything is moving to digital platforms, the Insurance Regulatory and Development Authori...
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European Parliament Members Adopt New Recommendations to fight Tax Fraud and Money Laundering
The parliament members adopted a comprehensive set of regulations stemming from the previous reco...
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Bank of Lithuania Open Probe on UK Fintech over Alleged Money Laundering
Bank of Lithuania is reportedly investigating UK fintech Railsr over Anti-Money Laundering and Co...
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Brazil to Become a Part of OECD and Plans to Launch IPO for Its Digital Bank
During a virtual event on Tuesday, Paulo Guedes, Brazil’s Minister of Economy, announced that the...
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El Salvador Must Address Bitcoin’s Risks, Demands IMF
The IMF has urged El Salvador to address the risk associated with the adoption of bitcoin as a le...
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NFIU Increases Efforts to Remove Nigeria from FATF Gray List
The Nigerian Financial Intelligence Unit (NFIU) has stated that it is working towards removing th...
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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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Namibia Launches Cyber Security Council to Curb e-Fraud
Namibia has established a cyber security council that would act as a useful forum for discussions...
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Lawmakers Approve Enablers Act Bill to Expand AML Reporting Requirements
A group of lawmakers have approved the revision of America’s money laundering laws after 20 years...
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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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Better Business Bureau of North America Warns of Increased Scams & Fraud
On April 11, Marilyn Mott, director of the Better Business Bureau’s Prescott office, addressed a ...
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Malta-based Pilatus Bank Fined €5m Over AML & Terrorism Breaches
Pilatus Bank failed on various accounts, including identity verification of customer businesses, ...
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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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Growing List of Countries are Introducing Regulations on Crypto
Ukraine’s Parliament officially adopted the Draft Law On Virtual Assets. Prior to this, cryptocur...
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South Africa Earmarked R265 Million to Get Off FATF’s Greylist
Finance Minister Enoch Godongwana announced on Tuesday that allocating R265 Million is one of sev...
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Malta-based Pilatus Bank Fined €5m Over AML & Terrorism Breaches
Pilatus Bank failed on various accounts, including identity verification of customer businesses, ...
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Phase One of the Crypto Regulatory Framework in Switzerland Begins
As of today, phase one of the regulatory framework regarding the cryptocurrency and blockchain in...
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Leaked Draft: EU Plans to Ban Privacy Enhancing Crypto Coins
CoinDesk has received a leaked draft of the money laundering bill, disclosing plans of the Europe...
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Texans to be Among the Most Affected Nations in Global Cybercrime Operation, Warns FBI
According to the Federal Bureau of Investigation (FBI), Texans are likely to be among nations tha...
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Hong Kong Crypto Exchange Platform JPEX Involved in a $178M Fraud
Hong Kong Authorities claimed they received over 23,000 complaints against the Dubai-registered c...
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UK Fines Dixons Carphone for Massive Breach
Dixons Carphone is one of the largest electronics and phone retailers in the UK. Recently British...
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MEF Implements New Tax Rules on Commercial Gambling Businesses to Curb Financial Crime
The Ministry of Economy and Finance (MEF) brought about new tax rules on commercial gambling busi...
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NGOs Advised on Due Diligence to Tackle Terrorism Financing
The Financial Crimes Commission’s SCUML has advised Non-Governmental Organizations (NGOs) to cond...
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Singapore Monetary Authority to Review Rising Card Scam Cases
The Monetary Authority of Singapore (MAS) is reviewing the liability framework for card scams, gi...
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Türkiye Removed From Gray List, India Recognized for Its AML Efforts, and Kuwait Urged to Have Better Money Laundering Control Measures: FATF Updates
On Friday, an international financial watchdog committed to securing the global economic system a...
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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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US Federal Reserve Fines Deutsche Bank $186 Million for Anti-Money Laundering Failures
The Federal Reserve announced on July 20th that it had fined Deutsche Bank (DBKGn.DE) and some of...
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EU Money Laundering Overhaul Should Include NFT Platforms, Lawmakers Say
The two crypto legislation adopted last week did not include unhosted wallets and decentralised f...
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Russian Government to Take Regulatory Steps to Harmonize Crypto Market.
Prime Minister of Russian has suggested that crypto should be recognized through the nation’s tax...
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US Justice Department Helps Brazilian Government to Seize $24 Million in Crypto Fraud
An official request from the Brazilian government was made to the US government for helping to se...
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UAE Convenes Summit on Curbing Money Laundering and Terrorism Financing
The UAE convened an international summit on money laundering and terrorist financing prevention i...
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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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South Africa’s Addition to FATF Gray List Causes Unforeseen Repercussions on Tax Law Implementation
Tax Consulting SA’s report has revealed that greylisting has caused disquietude surrounding...
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Japan’s Airports Run Face Verification Trials for Passenger Onboarding
Tokyo’s Narita airport is running trials for a face recognition system for international travelle...
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NDAA Passed to Strengthen the Financial Crime Monitoring in the USA
The House of Representatives has passed the National Defense Authorization Act to strengthen the ...
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Qatar to Develop National Strategies for Combating Financial Crimes
Qatar has developed vigorous strategies to combat expected financial crimes during the FIFA World...
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Pokies are Safe Havens for Criminals to Clean Dirty Money – Says NSW Crime Commission
According to findings of a multi-agency investigation released by the NSW Crime Commission, pubs ...
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Indonesia to Pass Regulations to Control Money Laundering
Indonesia is looking to develop a strong regulatory framework to curb money laundering and terror...
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FATF Issues New BO Requirements to Address Pandora Papers
While addressing the Pandora Papers, the Paris-based global financial watchdog, FATF, has issued ...
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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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India and the United States Collaborate to Combat Financial Crime
The US-India Dialogue on Anti-Money Laundering and Countering Terrorism Financing, jointly chaire...
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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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Barclays Prohibits UK Clients from Sending Debit and Credit Payments to Binance
Barclays has stopped UK customers from transferring funds to Binance after the Financial Conduct ...
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Rabobank Fined EUR 500K for Ineffective KYC Compliance
The Dutch Central Bank (DNB) instructed Rabobank to enhance their CDD, transaction monitoring, an...
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Blockchain Association States Senator Warren’s Crypto AML Bill is a Threat to the US
The Blockchain Association has raised concerns about the recently proposed Digital Asset Anti-Mon...
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Economic & Financial Crime Bureau Gets Legal Powers as an Independent Authority
The Economic & Financial Crime Bureau and Financial Intelligence Unit [Bailiwick of Guernsey]...
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Artist Sues AI Generators for Alleged Industrial-Level Identity Theft
Artist, Karla Ortiz, has sued two artificial intelligence firms for generating images that mimic ...
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AUSTRAC Initiates Probe into Sportsbet and Bet365 over Money Laundering Suspicions
AUSTRAC launches investigations into gambling firms for suspicions of failing AML/CFT compliance,...
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Investment Scams Rising Through Fake Celebrity Endorsements
Financial fraud through celebrity endorsement is becoming a primary concern as one in six firms o...
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BitGo settles with US Treasury; Sanctions Violations will Cost $98,830
The U.S. Treasury has settled with BitGo over costs that it helped users in authorised divisions ...
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US Court Sentences Nigerian FinTech Executives for Money Laundering Worth $167 Million
The US Court jails the Fintech Executives of Nigeria over a Money Laundering Case comprising $167...
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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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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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FCA Imposed a $1.05M fine on Barclays Bank for “Oversight Failings”
The U.K. Financial Conduct Authority (FCA) on Monday revealed that it imposed a fine of 783,800 p...
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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...
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Seattle Airport Resists Federal Push for Facial Recognition
Facial recognition technology won’t be installed at the boarding gates of the Seattle-Tacoma Inte...
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