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Unlisted Crypto Exchange, JPEX, Investigated for Criminal Charges by SFC
The Hong Kong Security and Futures Commission (SFC) warned an unlisted crypto exchange platform, ...
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Danske Bank Under Fire Over AML Shortcomings
The FSA has reprimanded Sweden’s Danske Bank over ‘shortcomings’ in its anti-money laundering con...
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ID Theft to Drive Majority of the Online Payment Frauds in 2021
Online payment fraud losses will exceed $206 billion over the next few years and the majority of ...
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Binance in Trouble for Allegedly Aiding Money Laundering Worth $2.35 Billion
An inquiry into the world’s biggest crypto exchange Binance has revealed that it has aided money ...
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“Crypto Should Be Regulated, Not Prohibited”, Says ECB Vice President
After his statement in May that declared cryptocurrencies as a risky investment, the Vice Preside...
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Qatar Takes Steps to Strengthen its AML/CFT and Sanctions Compliance
A webinar organised by ICC Qatar emphasised the efforts of Qatar to strengthen its AML/CFT and sa...
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“Online Trading Platforms to Become a New Hub for Investment Scams” Warns FCA
FCA warns that investment scams are increasing in the UK via online means of trading platforms an...
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South Korea Unlikely to Legislate Crypto Regulations Before the U.S – Says FSC
South Korea’s Financial Services Commission focuses the cryptocurrency legislation. According to ...
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CCPA in effect – Mozilla firefox will let users delete their collected data
The California Consumer Privacy Act came into effect on Wednesday, Jan 1. Being obliged by the ne...
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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 Mule Initiative Results Announced by the US Department of Justice
As a part of the Money Mule Initiative, the law enforcement depart of the USA has taken action ag...
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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...
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South Africa links fintech startups with financial regulators
South Africa’s financial regulators have initiated the Inter-governmental Fintech Working Group (...
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Swiss Court Seeks $45m Compensation in Credit Suisse Money Laundering Case
Federal prosecutors in Switzerland are seeking compensation of $45 million in the Credit Suisse m...
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Global AML Watchdog FATF Puts UAE on the Grey List
The Paris-based Financial Action Task Force placed the UAE on the grey list for “strategic defici...
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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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US Treasury Department Discloses Latest Beneficial Ownership Information (BOI) Guide
The Money Laundering Bureau of the US Treasury Department issued the latest guide to assist small...
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Google Warns 12,000 Victims of Government Hacks
In just three months, from July to September 2019, Google sent out 12,000 warnings to people who ...
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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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FinCEN to Expand GTOs on All-cash Real Estate Purchases to Stop Money Laundering
The Financial Crimes Enforcement Network (FinCEN) has announced the expansion of its GTOs. The ne...
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EU Plans for New Anti-Money Laundering Agency
European Union’s anti-money laundering agency plans are being developed in detail. A memo dated M...
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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 ...
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Singapore Authorities Investigates Bank’s Role in $1.8B Money Laundering Case
Singapore’s central bank started an investigation against banks involved in a $1.8b global wealth...
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Turkey Mandates NFC-based Identity Verification for Customer Onboarding
Turkey’s regulatory body, Banking Regulation and Supervision Agency (BRSA) has issued new regulat...
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After China, Japanese Officials Considering to Introduce Digital Currency too
China has begun trials for its digital assets and issued 10 million yuan last week. The efforts o...
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Philippine Gaming Watchdog to Make Every Effort to Remove From FATF’s Gray List
The Philippine Amusement and Gaming Corporation (PAGCOR) has stated that it will make every effor...
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Danske Bank Under Fire Over AML Shortcomings
The FSA has reprimanded Sweden’s Danske Bank over ‘shortcomings’ in its anti-money laundering con...
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FATF Discloses Outcomes of October Plenary Meeting
The international regulatory authority, Financial Action Task Force (FATF), concluded its fourth ...
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EBA Restricts Diamantaires from Banking Services to Curb ML/TF Risk
Financial institutions restricting diamond dealers from banking services to comply with EU’s 2015...
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SkyCity Entertainment Earmarks $29m for Anticipated AML/CFT Regulations Fine
Australian gaming company, SkyCity Entertainment, has provisioned $29m in anticipation of a civil...
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EBA Issues Guidance on the Roles of AML/CFT Compliance Officers
The European Banking Authority has published guidelines that state the roles of Anti-money launde...
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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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France to Implement Stringent Regulations on Cryptocurrency
France is planning on regulations that abolish the anonymity in cryptocurrency. Financial authori...
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AMLC Proposing Strict Monitoring Measures for FX Trading To Tackle Money Laundering
The AMLChas increased the monitoring process on FX declarations. All the inbound and outbound cha...
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Founders of US Crypto Firm Charged with Assisting North Korean Hacking Group in Laundering Money
Two co-founders of the cryptocurrency firm Tornado Cash, Roman Semenov and Roman Storm, were char...
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Italian banking association ready to accept digital euro
The Italian Banking Association (ABI) has disclosed that it is willing to support the introductio...
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Americans ‘work from home’ strategy present new targets for hackers
Coronavirus outbreak has forced organizations to let their employees work from home during the ou...
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Peru’s Former and Current President under Investigation for Alleged Money Laundering
Peru’s former and current presidents are under investigation for alleged money laundering a...
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South Korean merchants open to accepting digital yuan
According to the South Korean media, the local merchants could accept the upcoming digital yuan a...
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AI-based voice cloning induces new scams
Vijay Balasubramaniyan, the CEO, CTO, and Co-founder of Pindrop Security, warns the world about a...
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US Treasury Publishes National Risk Assessments for Financial Crimes
The US Treasury has published the 2022 National Risk Assessments (NRAs) on Money Laundering (NMLR...
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With Rising Fintech Adoption, FI’s are Investing in AI for AML Compliance: Report
Reduced rates of false positives and the resulting decline in operational costs have caused an in...
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Central Bank of UAE Issues Updated Guidance For Licensed Financial Institutions
CBUAE issues updated guidance for licenced financial institutions on growing risks of money laund...
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London has been Dubbed as a Money Laundering Base
The UK’s capital has been dubbed as a potential hotbed for organised crime, especially after Brex...
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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...
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Money Laundering Crackdown on UK Law Firms
The regulators at Solicitor Regulators Authority (SRA) asked 400 law firms earlier this year to p...
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Facial Recognition Market to Grow 12.5% Annually Through 2024
According to a new report by Mordor Intelligence, the facial recognition market is expected to gr...
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FATF Votes to Graylist Malta
Malta’s Prime Minister announced the news at a conference on Wednesday after local media reported...
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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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WhatsApp accounts hacked to acquire bank card details
Recently a new scam has emerged in Singapore where hackers are found to take-over WhatsApp accoun...
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IMF Urges Central Bank of Seychelles to Upgrade Transparency and AML Controls
The Central Bank of Seychelles (CBS) has been advised by the International Monetary Fund (IMF) to...
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US Regulators to Sharpen AML Expectations For Crypto Sector
The US regulators are increasing the AML compliance expectations within the crypto sector to ensu...
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Philippine Plans to Introduce New Regulations on Beneficial Ownership
The Securities and Exchange Commission in Philippine has laid out new regulations that require tr...
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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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UAE Imposes Fines Exceeding Dh115 Million to Combat Money Laundering in Q1 of 2023
The UAE has imposed a monetary penalty of Dh115 million ($31.3M) in the first quarter (Q1) of 202...
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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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FATF says governments ineffective in stopping money-laundering
According to David Lewis, Executive Secretary, Financial Action Task Force (FATF), governments ar...
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Aussies Bombarded With Scams in 2022 – ACCC Report
The Australian Competition and Consumer Commission (ACCC) reported Aussies as the top target of s...
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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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Thailand Launches Anti-Online Scam Center to Combat Cybercrimes
The Thai Government has officially launched the Anti-Online Scam Operation Centre (AOC) as of No...
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Fiat is the Top Choice of Currency for Financial Criminals, Says US Treasury
The US Treasury Department has released a three-year report on money laundering and terrorist fin...
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Japanese financial watchdog frowns on gambling dapps
Regulators in Japan may be more likely to accept new digital currencies for trading if they have ...
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Australian Federal Police to Establish a Cryptocurrency Unit to Combat Money Laundering
AFP rolled out a dedicated crypto unit to combat monetary scams by fraudsters. According to AFP, ...
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The United Kingdom implements new Anti-Money Laundering regulations
The United Kingdom’s finance and economics department has announced the incorporation of new Anti...
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Swedbank Estonia Reports High-Risk Client for Laundering $2 Billion
Swedbank Estonia labeled one of its clients a “high-risk” company due to suspicious transactions ...
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UK to Regulate Stablecoins & Mint its Own NFTs to Become Global Crypto Hub
The UK is reportedly planning to regulate stablecoins as a payment method and the Royal Mint is t...
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Hong Kong Provides Guidance to Fight Financial Crimes Emerging from COVID-19
The Monetary Authority in Hong Kong (HKMA) has issued new guidelines for the banks on merging ext...
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Danske Bank Under Fire Over AML Shortcomings
The FSA has reprimanded Sweden’s Danske Bank over ‘shortcomings’ in its anti-money laundering con...
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Bank of Thailand Issues Warning Against Digital Fraud
The central bank advised individuals not to accept information that appears fake, nor to perform ...
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International CBI Sharpen Focus on Due Diligence Procedures in Light of Global Risks
Discussion by renowned experts of major due diligence agencies in the PWM virtual panel highlight...
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Hong Kong opens up its first online-only bank
According to reports, ZA Bank, the first online bank in Hong Kong, opened up on Tuesday (March 24...
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BaFin Imposes $10M Fine on Deutsche Bank for Euribor Control Failing
Deutsche Bank faces challenges as BaFin imposes a 10-million dollar fine for Euribor control fail...
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