The Top 10  Most Difficult Countries for Identity Verification

The Top 10  Most Difficult Countries for Identity Verification

Download Report

    n-img-roi-cross

    Before You Go, Schedule Your Free Demo Today

    Valid Invalid number


    Note: Fields marked with an asterisk(*) are mandatory.

    n-exit-img-roi-cross

    Thank you for your demo request

    We appreciate your interest and look forward to discussing how our solution can meet your needs. Expect to hear from us shortly with scheduling details.

    Close

    us

    40.77.167.20

    Europol Arrests 106 Suspects in Money Laundering, Online Fraud Case

    arrests

    The organised crime operation involved phishing scams and numerous business email compromise attacks.

    A joint operation led by Europol, the Spanish National Police (Policía Nacional), the Italian National Police (Polizia di Stato), and Eurojust has resulted in the arrest of 106 suspects that were spread across Spain and Italy. 

    According to Europol, the criminal gang used phishing scams, SIM swapping techniques, and Business Email Compromise (BEC) attacks to defraud individuals, mounting to profits worth USD 11.7 million (€10 million) throughout 2020. 

    Labelled as “very well organised”, the criminal gang included computer crime experts that were tasked with the execution of phishing scams and other cyber fraud plans. Cryptocurrency experts, money mules, and money launderers were also found to be involved in the criminal network. 

    Reports suggest that the crime group originated from the Canary Islands, Spain, and were tricking victims – mostly from Italy – into sending substantial amounts of funds into dedicated bank accounts, before laundering those funds through money mules and shell companies. 

    According to a 2019 report by the FBI, BEC is one of the most lucrative types of cybercrime, leading to losses worth billions in recent years. 

    On top of the 106 arrests, the joint operation also led to the freezing of 118 bank accounts along with the seizure of a number of devices, including 224 credit cards, SIM cards and point-of-sale terminals.  

    Europol had been investigating the group for over a year prior to these arrests. As part of the operation, Europol deployed two analysts and one forensic expert to Tenerife, Spain and one analyst to Italy. Europol also funded the deployment of three Italian investigators to Tenerife to support the Spanish authorities during the action day. 

    Suggested Read: AML Solutions: Eliminating the Risks of Money Laundering

    Related Posts

    News

    Philippine Senator Files an Anti-Online Gambling Bill Aiming to Curb Financial Crimes

    Philippine Senator Joel Villanueva filed a bill imposing a ban on online gambling to prevent fina...

    Philippine Senator Files an Anti-Online Gambling Bill Aiming to Curb Financial Crimes Explore More

    News

    Denmark’s Gambling Authority Issues Reminder for AML Duties

    All licensed businesses are reminded to report suspicious transactions that may be indicative of ...

    Denmark’s Gambling Authority Issues Reminder for AML Duties Explore More

    News

    Japan FSA, Central Bank to Assess FI’s AML, Anti-fraud Measures

    Reports have revealed that Japan’s FSA and BOJ are seeking to better understand whether the curre...

    Japan FSA, Central Bank to Assess FI’s AML, Anti-fraud Measures Explore More

    News

    Caterina Giorgi Demands Age Verification Laws for Online Alcohol Businesses

    Caterina Giorgi, CEO of the Foundation for Alcohol Research and Education (FARE), has highlighted...

    Caterina Giorgi Demands Age Verification Laws for Online Alcohol Businesses Explore More

    News

    DBS Bank in Singapore Entering the Crypto Sector with Three New Offerings

    Singapore’s largest commercial and retail bank, DBS, is likely to enter the cryptocurrency sector...

    DBS Bank in Singapore Entering the Crypto Sector with Three New Offerings Explore More

    News

    Morgan Stanley, Interactive Brokers Under Money Laundering Probe

    The FBI, SEC, and other state agencies are now investigating why Morgan Stanley took on Rodriguez...

    Morgan Stanley, Interactive Brokers Under Money Laundering Probe Explore More

    News

    ICAEW Calls for Professional Scepticism to Mitigate Money Laundering in UAE

    The Institute of Chartered Accountants in England and Wales (ICAEW) and the UAE’s Accountants &am...

    ICAEW Calls for Professional Scepticism to Mitigate Money Laundering in UAE Explore More

    News

    China’s securities watchdog commits to clean up financial markets

    SHANGHAI – China’s security watchdog vowed a number of measures to clean up its financial m...

    China’s securities watchdog commits to clean up financial markets Explore More

    News

    Kenya Accuses Two Leading African FinTech Firms of Operating Without Licenses

    Two of Africa’s top FinTech companies have been accused by the Kenyan central bank of alleg...

    Kenya Accuses Two Leading African FinTech Firms of Operating Without Licenses Explore More

    News

    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...

    Saudi Bank Warns Citizens Against Financial Fraud Schemes Circulating via Fake News Websites Explore More

    News

    FCA Issues Warning About 100+ Unregistered Crypto-asset Firms

    111 unregistered crypto-asset firms are operating from the UK. FCA warns consumers, banks, and pa...

    FCA Issues Warning About 100+ Unregistered Crypto-asset Firms Explore More

    News

    $8.6bn Lost to Cryptocurrency-based Money Laundering in 2021

    ‘The 2022 Crypto Crime Report’ by Chainalysis has revealed that a total of $8.6 billion was lost ...

    $8.6bn Lost to Cryptocurrency-based Money Laundering in 2021 Explore More

    News

    COVID at EURO 2020 Reinforced the Need for Digital COVID Pass

    With 2 infected players infiltrating the entire stadium, many are fearing the spread of COVID-19 ...

    COVID at EURO 2020 Reinforced the Need for Digital COVID Pass Explore More

    News

    Cyprus Aligns with EU Regulations by Adopting Strong AML/CFT Measures

    Cyprus has established a new digital registry and requires the businesses to identify their true ...

    Cyprus Aligns with EU Regulations by Adopting Strong AML/CFT Measures Explore More

    News

    ECB Will Be Launching Digital Euro Project

    An electronic equivalent of banknotes and coins, the digital euro will likely be a digital wallet...

    ECB Will Be Launching Digital Euro Project Explore More

    News

    NAB, Largest Casinos Operators Caught in AUSTRAC’s Wrath

    National Australia Bank (NAB) and the two largest casino operators in Australia are under investi...

    NAB, Largest Casinos Operators Caught in AUSTRAC’s Wrath Explore More

    News

    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...

    Turkish Regulatory Authorities Launch Investigation on Social Media Influencers for Money Laundering Explore More

    News

    GBA to Organize Two-day Training Workshop for Addressing AML and CFT Concerns

    GBA concluded a workshop on AML and terrorist financing concerns to avoid any possible threats of...

    GBA to Organize Two-day Training Workshop for Addressing AML and CFT Concerns 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

    California university pays a million-dollar crypto ransom

    As per reports, the University of California reportedly paid a huge ransom of $1.14 million in cr...

    California university pays a million-dollar crypto ransom Explore More

    News

    Philippine Banks Struggle to Comply with AML Regulations

    Philippian banks and financial institutions are struggling with compliances regarding the anti-mo...

    Philippine Banks Struggle to Comply with AML Regulations Explore More

    News

    Nevada Takes Measures to Combat Unemployment Insurance Fraud

    District of Nevada’s Office of U.S Attorney has shown concerns about the rise in unemployment ins...

    Nevada Takes Measures to Combat Unemployment Insurance Fraud Explore More

    News

    AUSTRAC: Loan Fraud is the Main AML/CFT threat to Non-banks

    AUSTRAC report states loan scams and identity fraud as the main threat to AML/CFT compliance when...

    AUSTRAC: Loan Fraud is the Main AML/CFT threat to Non-banks Explore More

    News

    Man Arrested For Stealing Identities, Funding 1800 Online Gambling Accounts

    The man suspected of stealing other’s identities to create online gambling accounts has finally b...

    Man Arrested For Stealing Identities, Funding 1800 Online Gambling Accounts Explore More

    News

    Biden’s Administration Announces New Timeline for AML Initiative and Beneficial Ownership Rules

    FACT’s anti-money laundering efforts are updated in the Biden Administration’s Spring 2023 Regula...

    Biden’s Administration Announces New Timeline for AML Initiative and Beneficial Ownership Rules Explore More

    News

    IRS Highlights Potential Risk of Fraud in NFTs and Cryptocurrencies

    IRS highlights Non-Fungible Token (NFTs) and crypto as the potential risk of financial crimes, in...

    IRS Highlights Potential Risk of Fraud in NFTs and Cryptocurrencies Explore More

    News

    FCA Reviews UK Small Trade Finance Lenders to Ensure Compliance

    FCA is reviewing UK’s small trade finance lenders to assess their due diligence, risk assessment,...

    FCA Reviews UK Small Trade Finance Lenders to Ensure Compliance Explore More

    News

    US Courtrooms Ponder Over the Photo ID Requirement for Voters

    The US courtrooms are again facing the debate over the use of photo identification for voters. A ...

    US Courtrooms Ponder Over the Photo ID Requirement for Voters Explore More

    News

    Homeland Security Takes Back Its Plans of Facial Recognition for US Citizens

    The Department of Homeland Security (DHS) is taking back its decision to implement a policy that ...

    Homeland Security Takes Back Its Plans of Facial Recognition for US Citizens Explore More

    News

    FBI Seizes $1.7M During 3-Month Crypto Operation

    During a 3-month operation from March to May, the FBI seized $1.7m worth of cryptocurrencies, inc...

    FBI Seizes $1.7M During 3-Month Crypto Operation 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

    Pandora Papers Update: Offshore Havens and Money Laundering Scandals Exposed

    The Pandora Papers expose 35 world leaders, 300 public officials and 100+ billionaires, thus prov...

    Pandora Papers Update: Offshore Havens and Money Laundering Scandals Exposed Explore More

    News

    The UK Law Firms Approve the Use of AI in AML Armoury

    The Legal Sector Affinity Group is the governing body of all the UK’s legal regulatory and repres...

    The UK Law Firms Approve the Use of AI in AML Armoury Explore More

    News

    Albania Fails to Take Strict AML/CFT Measures

    According to MONEYVAL, Albania has failed to take the necessary steps to improve measures on figh...

    Albania Fails to Take Strict AML/CFT Measures Explore More

    News

    FINMA, SFC, and MAS Fine Multiple Financial Institutions Over $1.5 Billion For Money Laundering Activities

    FINMA, SFC, and MAS fined multiple financial institutions over $1.5 billion for not complying wit...

    FINMA, SFC, and MAS Fine Multiple Financial Institutions Over $1.5 Billion For Money Laundering Activities 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

    South Africa Must Fix Holes in Money Laundering Regulation by 2025, Warns FATF

    South Africa needs to improve its Anti-Money Laundering and Counter-Terrorist Financing regulatio...

    South Africa Must Fix Holes in Money Laundering Regulation by 2025, Warns FATF Explore More

    News

    $4.4 Billion Worth Cryptocurrency Stolen in 2019

    The crypto analytics firm, CipherTrace released its Q3 2019 Cryptocurrency Anti-Money Laundering ...

    $4.4 Billion Worth Cryptocurrency Stolen in 2019 Explore More

    News

    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...

    Japan’s Airports Run Face Verification Trials for Passenger Onboarding Explore More

    News

    Supreme People’s Court of China to Impose Severe Penalties for Financial Crimes

    China’s top courts are set to impose heavier punishments to prevent financial crimes and mitigate...

    Supreme People’s Court of China to Impose Severe Penalties for Financial Crimes Explore More

    News

    $2 Shell company laundered hundreds of millions at Crown Casino Perth

    International organizations are believed to be using Crown Perth to launder hundreds through $2 s...

    $2 Shell company laundered hundreds of millions at Crown Casino Perth Explore More

    News

    FCA Takes NatWest to Court over Money Laundering Charges

    The National Westminster Bank has been accused of neglecting the anti-money laundering regulation...

    FCA Takes NatWest to Court over Money Laundering Charges Explore More

    News

    UK Authorities Accuse Attorneys of Failure in Combating Financial Crimes

    The UK regulatory authorities asserted that new data revealed prosecutors inadequately comply wit...

    UK Authorities Accuse Attorneys of Failure in Combating Financial Crimes Explore More

    News

    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...

    RoC of the Cayman Fines Companies failing to Reveal Beneficial Owner’s Name Explore More

    News

    EU to Investigate Google and Facebook’s Data Collection Practices

    The European Union has begun preliminary investigations into the data collection practices of Goo...

    EU to Investigate Google and Facebook’s Data Collection Practices Explore More

    News

    FCA Takes NatWest to Court over Money Laundering Charges

    The National Westminster Bank has been accused of neglecting the anti-money laundering regulation...

    FCA Takes NatWest to Court over Money Laundering Charges Explore More

    News

    UK Customers Losse £580m to Identity Scammers in First Half of 2023

    UK Finance disclosed that identity theft is a proliferating scam, and they recorded 1.4m fraud ca...

    UK Customers Losse £580m to Identity Scammers in First Half of 2023 Explore More

    News

    Canadian financial watchdog geared up for FATF compliance

    The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) plans on closely regul...

    Canadian financial watchdog geared up for FATF compliance Explore More

    News

    WhatsApp Receives Fine Worth $267m for Breaching EU’s Data Privacy Law

    Ireland’s Data Protection Commission has stated that WhatsApp failed to inform EU citizens suffic...

    WhatsApp Receives Fine Worth $267m for Breaching EU’s Data Privacy Law Explore More

    News

    FinTech and InsureTech Booms in Israel as $120M Raised for Investments

    FinTLV, a fund based in Tel Aviv, has announced that it has collected $120 million worth of funds...

    FinTech and InsureTech Booms in Israel as $120M Raised for Investments 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

    Fintech Requires Tight Controls to Mitigate Data Privacy Risks, Treasury Report

    As per the new report by the U.S. Department of the Treasury, Fintech requires tight controls to ...

    Fintech Requires Tight Controls to Mitigate Data Privacy Risks, Treasury Report Explore More

    News

    South Africa Gets the Green Signal for New AML/CTF Laws

    South Africa has finally gotten a green signal for new finance laws to address shortcomings ident...

    South Africa Gets the Green Signal for New AML/CTF Laws Explore More

    News

    NAB, CBA Under Money Laundering Probe Yet Again

    Australia’s CBA and NAB are under regulatory scrutiny for providing correspondent banking service...

    NAB, CBA Under Money Laundering Probe Yet Again Explore More

    News

    AUSTRAC to Update Guidance for Threshold Transaction Reporting

    AUSTRAC has made it mandatory for reporting entities to include a threshold transaction report (T...

    AUSTRAC to Update Guidance for Threshold Transaction Reporting Explore More

    News

    Taiwan’s Security Watchdog is Set to Regulate Local Crypto Industry to Prevent Money Laundering

    Taiwan’s top financial regulator is set to become the primary oversight body to monitor the...

    Taiwan’s Security Watchdog is Set to Regulate Local Crypto Industry to Prevent Money Laundering Explore More

    News

    AFP to Crack Down on Italian Money Laundering Syndicates Operating in Australia

    The AFP is set to crack down on Italian organised crime and money laundering syndicates flowing b...

    AFP to Crack Down on Italian Money Laundering Syndicates Operating in Australia Explore More

    News

    China Pledges “Zero Tolerance” for Financial Fraud

    Top financial regulators in China pledged to introduce stricter controls following the recent dis...

    China Pledges “Zero Tolerance” for Financial Fraud 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

    Prosecutors Raise Questions About KYC/AML Against Cryptocurrency Mixers

    According to the prosecutors and financial regulators, cryptocurrency mixers are reportedly being...

    Prosecutors Raise Questions About KYC/AML Against Cryptocurrency Mixers Explore More

    News

    EU Lawmakers Propose New Bill to Combat Money Laundering through NFTs

    Members of the European Parliament have proposed a new bill to increase scrutiny of the NFT and D...

    EU Lawmakers Propose New Bill to Combat Money Laundering through NFTs Explore More

    News

    US Government Announces Reward for Identifying Sanctioned Russian Assets

    The US government has announced financial rewards of up to $5 million for information leading to ...

    US Government Announces Reward for Identifying Sanctioned Russian Assets Explore More

    News

    Tesla CEO Elon Musk Accuses SEC of Leaking Information in Federal Investigation

    Tesla CEO Elon Musk has accused the SEC of leaking information about a federal investigation as a...

    Tesla CEO Elon Musk Accuses SEC of Leaking Information in Federal Investigation Explore More

    News

    UAE Issues Updated Targeted Financial Sanctions Guidance

    The UAE has shifted from the multilateral United Nations Security Council (UNSC) sanctions to uni...

    UAE Issues Updated Targeted Financial Sanctions Guidance Explore More

    News

    UK Regulators Obligates Crypto Firms to Submit Financial Crime Report

    The UK’s financial watchdog, Financial Conduct Authority (FCA) has expanded financial regulations...

    UK Regulators Obligates Crypto Firms to Submit Financial Crime Report Explore More

    News

    Bank of England Introduces New Regulatory Approach for Crypto

    The Bank of England is formulating the UK’s first regulatory framework for crypto assets and stat...

    Bank of England Introduces New Regulatory Approach for Crypto Explore More

    News

    Criminal Group in KSA Jailed 24 Years Over Money Laundering Offence

    Criminals in Saudi Arabia sentenced to 25 years imprisonment after getting caught in money launde...

    Criminal Group in KSA Jailed 24 Years Over Money Laundering Offence Explore More

    News

    UKGC imposed EUR 3.8 Million Fine on Genesis Global for Social Responsibility and Money Laundering Violations

    After the two-year investigation, the United Kingdom Gambling Commission (UKGC) imposed EUR 3.8 m...

    UKGC imposed EUR 3.8 Million Fine on Genesis Global for Social Responsibility and Money Laundering Violations Explore More

    News

    Despite the Concerns, Arizona Bans Vaccine Passports for Government

    Governor of Arizona, Doug Ducey has restricted the local and state government agencies from askin...

    Despite the Concerns, Arizona Bans Vaccine Passports for Government Explore More

    News

    UAE to Issue Federal Licenses to VASPs in Efforts to Embrace Crypto

    The UAE is gearing up to issue federal licenses to virtual asset providers (VASPs) within a matte...

    UAE to Issue Federal Licenses to VASPs in Efforts to Embrace Crypto Explore More

    News

    Bank of Valletta Fined EUR 2.6 Million for UBOs Reporting Failure

    FIAU imposed a penalty of EUR 2.6 million on the Bank of Valletta for failing to report Beneficia...

    Bank of Valletta Fined EUR 2.6 Million for UBOs Reporting Failure Explore More

    News

    Germany to Implement the 6th AML Directive to Secure Financial Firms

    The Federal Government of Germany has decided to draft a law for money laundering operations. Eur...

    Germany to Implement the 6th AML Directive to Secure Financial Firms 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