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Star Casino Faces Class Action for Anti-Money Laundering Failures
The Star casino has been hit with a shareholder class action for its alleged non-compliance with ...
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Hong Kong Arrests 13 in HK$53 million Money Laundering Case
13 people in Hong Kong have been arrested for money laundering and operating illegal gambling sit...
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Online fraud attempts increase during COVID-19 catastrophe
According to ACI Worldwide, the rate of fraud attempts have increased to 4.3% in April, slightly ...
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2020 Election is coming up! Facebook bans deepfakes
2020 is up and the United States’ presidential election campaign is underway. Prior to these elec...
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Colombian Money Laundering Watchdog Delays Crypto Transaction Reporting Regime
The UIAF has postponed the date for crypto exchanges and individuals to start reporting their tra...
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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...
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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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Kenya Flags Betting Jackpots as Possible Avenues for Money Laundering
Kenya has flagged the mega jackpots paid to the punters in the country as the possible avenues fo...
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T-Mobile Suffers its Second Security Breach within Six Months
T-mobile US suffered its second data breach between late February and early March, affecting 836 ...
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Online fraud attempts increase during COVID-19 catastrophe
According to ACI Worldwide, the rate of fraud attempts have increased to 4.3% in April, slightly ...
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Amazon Warns UK Customers Over Rising Threat of Impersonation Scams
Amazon has cautioned UK customers about the rising threat of impersonation scams via phone calls,...
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Vietnam Enhances Anti-Money Laundering Laws to Prevent Financial Crimes
Vietnam regulatory departments are redefining their AML compliance measures to supervise cryptocu...
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FATF Urges Qatar to Increase its Efforts Against Money Laundering
A recent FATF evaluation of Qatar’s anti-money laundering procedures says local regulators must w...
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Pakistan Launches Contactless Biometric Verification for Banking
Pakistan has become one of the first countries in the world to implement biometric verification t...
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SFMS Reports Blocking Russian Crypto Exchanges
Ukraine’s financial monitoring agency has restricted access to several online crypto exchan...
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G20 Summit Agrees to Establish a Unified Global Crypto Framework to Prevent Digital Money Laundering
The G20 Summit signed to establish a global unified regulations framework to regulate digital tra...
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CBN Introduces Guidelines to Curb Money Laundering in the Financial Sector
The Central Bank of Nigeria (CBN) has issued guidelines on anti-money laundering and combating th...
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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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UAE Regulatory Authority Enforces Import Invoice Verification to Fight Trade-Based Money Laundering
United Arab Emirates (UAE) has implemented the latest compliance regulations for importing commod...
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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...
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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...
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Ransomware attack exposes 1.5TB of stolen aerospace data
ST Engineering Aerospace’s US subsidiary experienced a ransomware attack that extracted about 1.5...
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Jamaica Plans Digital Marketplace to Trigger CBDC Adoption
Jamaica Observer reported that the CBDC project would improve performance metrics related to JAM-...
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Westpac Freezes Executive’s Bonuses Amid Money Laundering Scandal
Westpac’s board will withhold bonuses of all of its senior executives as an ‘interim’ step follow...
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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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Indiana Witnesses a Spike in Identity Theft and Data Breaches
Covid19’s outburst has resulted in exponential growth in online banking, purchasing, and eC...
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FIAU Fines iGaming Company Approximately €236,789 for Money Laundering
The Financial Intelligence Analysis Unit has ordered a Malta-based remote gaming operator to pay ...
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Liechtenstein’s Legal Authorities Backed by Moneyval on Improved AML/CFT Measures
Moneyval has published a report backing Liechtenstein’s authorities on the measures it took again...
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Central Bank of China Issues Warning of DC/EP Fraud
China’s Central bank, the People’s Bank of China along with two other regulatory authorities has ...
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FinCEN Launches Regulatory Process For AML Regulation on Antiquities
The ANPRM discusses how antiquities trade can be exploited by money launderers and terrorist fina...
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Cloudflare Discloses Another huge DDoS Attack
Amid the COVID-19 outbreak, a surf in internet traffic can be seen and thus, an increase in cyber...
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Australian Regulators Seeking to Implement Travel Rules for Cryptocurrency
Australia is looking at the laws that would require cryptocurrency providers to record the inform...
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Australian Government Announces Development of Gambling Regulations Commission
Australian spokespersons for Gambling and Harm Reduction forced the New South Wales (NSW) governm...
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UK Amends Corporate Act to Combat Economic Crimes
The UK government reformed the Economic Crime and Corporate Transparency Act to expand regulation...
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The IRS Issues Last Minute-Warning To Avoid Tax Penalties
A new warning has been issued by the IRS with the introduction of an identity protection pin that...
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Fraudsters are all set to exploit Black Friday sales. Beware!
Criminals are aware that at this time of the year, shoppers are looking for discounted deals and ...
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FIU Highlights the Risks of Money Laundering in Estonia Due to VASPs
FIU has highlighted in its annual report the risk of money laundering and terrorist financing in ...
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Dubai Police Monitors Cryptocurrencies for Prevention of Money Laundering
The cybercrime unit of Dubai Police has started monitoring cryptocurrencies to ensure that digita...
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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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South Korean Government to Enforce Cryptocurrency Transaction Monitoring in H1 2023
The South Korean government is looking to implement crypto oversight by tracking transactions to ...
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FinCEN and FDIC to Test the Effectiveness of Digital ID Verification Tools
Two federal regulators – the FinCEN and FDIC have called for a ‘tech sprint’ to assess the ...
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South Africa Issues Stricter Guidelines for Crypto Traders
To prevent the surging cases of financial crime, South Africa has introduced rigid regulations fo...
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U.S States Open up to the Idea of Digital IDs in Post Pandemic World
The ID cards that were used by millions of people as proof of their identity may soon become a th...
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Deepfakes on TikTok raise new security concerns
Deepfakes have started showing up on the popular video app TikTok, owned by ByteDance, a Chinese ...
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American Law Firms Building Class Suits against HSBC and Standard Chartered for Money Laundering
Labaton Sucharow and Schall Law have a record of pursuing legal claims against listed organizatio...
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US Targets More Russian Yachts Linked to Putin as Part of Extended Sanctions
The Treasury Department has expanded its Russian sanctions to target Moscow’s access to yachts as...
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EU Court of Justice Passes Judgement Against Provision of AMLD5
EU Court of Justice has passed a judgment against the provision of the AMLD5, concluding that pub...
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AUD 10 Billion Money Laundering Ring Caught in Australia, Further Highlighting the Country’s AML Failures
AUD 10 billion ($6.5 billion) in global money laundering was allegedly uncovered in Sydney by the...
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HKMA imposed a HK$6 million fine on Commerzbank for AML Failure
HKMA imposed a HK$6 million fine on Commerzbank for anti-money laundering failure. The bank has b...
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DOJ Arrested Three Individuals In A $722 Million Cryptocurrency Ponzi Scheme
The Department of Justice arrested three men on Tuesday, December 10, on charges of running an el...
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UK Regulatory Authorities Warns Crypto Firms to Comply with Latest AML Obligations
The UK regulatory department, Financial Conduct Authority (FCA), has warned cryptocurrency platfo...
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AML investigation results in NZ police freezing $140 million
Police have collected $140 million from the Canton Business Corporation and its owner Alexander V...
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American Law Firms Building Class Suits against HSBC and Standard Chartered for Money Laundering
Labaton Sucharow and Schall Law have a record of pursuing legal claims against listed organizatio...
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FCA Says Bankman-Fried FTX Cryptocurrency Exchange Not Regulated in the UK
FCA warned crypto exchange FTX due to their unauthorized operations. The financial regulator clea...
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Media Industry Suffer Huge Increase in Cyber-Attacks
The media industry is increasingly under the threat of cyberattacks. It suffered 17 billion crede...
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Star Entertainment Group Experiences $1.26B Loss after Money Laundering Investigation
Star Entertainment Group experienced a major loss of $1.26 billion during the first half of 2023,...
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Singapore Plans to Amend Laws to Arrest Money Mules Facilitating Scams
Singapore authorities have decided to amend laws for prosecuting money mules facilitating financi...
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US Seizes 18 Crypto ATMs Bought With Fraudulent Loans
US law enforcement has seized 18 cryptocurrency automated teller machines previously purchased vi...
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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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Singapore replaces passwords and ID documents with facial recognition systems
As reported by Strait Times, Singapore plans to replace passwords and identity documents with bio...
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Google launches a new website to educate people about online scams
Hackers are more active during the COVID-19 outbreak than normal routine, considering which Googl...
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Cambodia and China Strengthen Ties to Combat Illegal Online Gambling and Scams
China’s Premier Li Keqiang and Cambodia’s PM Hun Sen have given a green signal to strengthen thei...
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Gamers Must Be Aware of long-Scale Click Fraud Campaign- Says Microsoft
Microsoft alerted gamers regarding wide-spreading click fraud. Cybersecurity personals said that ...
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SFC Issues Warning on Unregulated Virtual Asset Platforms
Binance has announced that stock tokens will no longer be available on its website for purchase a...
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DHS 19.5 Million Fine Imposed on UAE Banks for AML Failings
The Central Bank has imposed Dhs 19.5 million fine on UAE’s banks for shortcomings in the AML fra...
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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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HSBC Fined £64m for “Unacceptable AML Failings”
HSBC was fined by the UK’s financial regulator for ‘deficient transaction monitoring controls’. W...
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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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US Targets More Russian Yachts Linked to Putin as Part of Extended Sanctions
The Treasury Department has expanded its Russian sanctions to target Moscow’s access to yachts as...
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Irish Businessmen lost More than €10 Million in Invoice Redirect Fraud
Sophisticated invoice redirect fraud in Ireland has resulted in the loss of €10 Million for busin...
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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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A Three-fold Rise in AML Penalties in China in 2020
China’s banks and financial institutions have faced an increase in penalties in the year 2020 due...
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