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New York Financial Department Releases Guidelines On Dollar-Backed Stable Coins
The New York Financial Department has released “Guidance on the Issuance of U.S. Dollar-Backed St...
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Job Seekers Face Concerns of Identity Theft Through Fake Employment Scams
Fake employment advertisements defrauded many job seekers with theft of money and personal detail...
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UAE Issues Updated Targeted Financial Sanctions Guidance
The UAE has shifted from the multilateral United Nations Security Council (UNSC) sanctions to uni...
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China officially recognizes Blockchain jobs as a new occupation
The ongoing COVID-19 outbreak is modifying blockchain companies, and its effect is not always neg...
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RBI Gives Stark Warning Against Emerging KYC Fraud
RBI states that sensitive details should not be disclosed via unverified or unauthorised channels...
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US to Rigorously Implement Anti-Money Laundering in Crypto
A rule requiring cryptocurrency firms to share data about their customers will be strictly implem...
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FINRA Issues Guidelines Regarding Penalties for Anti-Money Laundering Violations
FINRA has issued its first-ever guidance to its member broker-dealers about the penalties that wi...
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Colombia Releases New Regulations For Crypto Firms Operating in the Country
The Colombian government passed new drafts for the local crypto organisations to continue operati...
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China Announces New Office To Combat Money Laundering
An office devoted to combating money laundering and ensuring financial institutes comply with Ant...
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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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The Age Verification Software Market to Experience Tremendous Growth by 2025
The increasing number of scams in today’s virtual world needs a better verification system. Prote...
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Michigan Man Convicted for COVID-19 Relief Fraud
The criminal has been sentenced to 32 months in prison for fraudulently acquiring PPP loans.
On ...
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Tech Giant Olympus Hit by Ransomware Attack from ‘BlackMatter’, Successor of DarkSide
More than 40 ransomware attacks have been attributed to BlackMatter, a ransomware-as-a-service gr...
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AUSTRAC Made to Take Back Seat as Australia Defies Global AML Regulations
Australian Transaction Reports and Analysis Centre has taken Australia’s largest business to cons...
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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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Despite the Concerns, Arizona Bans Vaccine Passports for Government
Governor of Arizona, Doug Ducey has restricted the local and state government agencies from askin...
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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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Kuwait Bans Crypto-Related Activities to Combat Money Laundering
The government of Kuwait banned all crypto-related activities on July 18th, including mining, tra...
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FBI Warns of Tech Support Scammers Compromising Financial Accounts
The Boston Division of the Federal Bureau of Investigation (FBI) has warned of an increase in num...
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Cyprus Makes Strides in Restoring its Reputation by Dealing with AML Concerns
According to the US Ambassador to Cyprus Judith Garber, Cyprus has shown progress in dealing with...
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Japanese Govt. to Enshrine FATF Crypto AML Standards into National Law
The Japanese government is getting ready to incorporate the Financial Action Task Force (FATF) cr...
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Monetary Authority of Singapore to Support G20 TechSprint Initiative
The Monetary Authority of Singapore (MAS), the nation’s central bank and financial regulator, rec...
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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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ABA House of Delegates Amends the AML Model Rule to Curb Financial Crimes
The House of Delegates amended the ABA Model Rule of Professional Conduct 1.16, which covers decl...
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Comparitech Report Ranks Biometric Data Use: China Tops the List
Comparitech, a pro-consumer technology website, conducted a study including 50 countries and thei...
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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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11 Arrested for Illegal Offshore and Cross-Border Gambling Activities in Macau
11 people arrested along with businessman Alvin Chau in an investigation of bogus gambling scheme...
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FinCEN Hires First-Ever Chief Digital Currency Advisor to Curb Crypto Crime
To eliminate the misuse of cryptocurrencies, Michele Korver has been appointed by FinCEN as the C...
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Bank of Ghana Issues New Guidelines for AML and CTF
The Bank of Ghana (BOG) has introduced new directives on Anti Money Laundering/Combating the Fina...
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President Biden Takes the Reins with Halting Digital Assets’ Rule Making
Regulatory proposal regarding digital assets has been frozen by President Joe Biden. Biden took h...
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US Attorney’s Office Charges New York’s Oldest Mafia Clans for Money Laundering Scheme
The US Attorney’s office has accused the two of New York’s oldest mafia clans for laundering mone...
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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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The UAE and Malta Organise a Joint Workshop to Share AML/CFT Knowledge & Experience
The UAE and Malta organised training workshops between 12-15 June to strengthen cooperation and c...
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UAE Central Bank: AML Guidelines Issued for Licensed Financial Institutes
The UAE Central Bank has issued guidance for financial institutes to fight money laundering, terr...
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US drug agency failed to properly oversee crypto investigations
It was published in the IG report, which is an audit of “income-generating, undercover operations...
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AUSTRAC Denounces De-banking Practices To Prevent Financial Crimes
AUSTRAC stated that de-banking is a complex global problem as it multiplies the risks faced by fi...
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AUSTRAC Teams Up with Pacific to Counter Money Laundering For Enhanced Regional Security
Australia’s AML Agency AUSTRAC has partnered with the Pacific Financial Intelligence Unit t...
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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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TRS Requires Trusts to Meet Anti-money Laundering and CTF Compliance.
As per the new UK government requirements, 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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AFM Fines Robeco €2 Million for AML Compliance Failure
The Netherlands’ financial regulator AFM has fined Robeco €2 million for failing to implement ade...
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FIU Recovers $284K From Two Companies Suspected of Money Laundering and Tax Evasion
The Financial Intelligence Unit of Liberia (FIUL) has recovered more than $284,000 from two compa...
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MAS Imposes Capital Requirements on OCBC for Inadequate Scam Response
Additional capital requirements have been imposed on the OCBC bank by the Monetary Authority of S...
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South Africa Anticipates Removal from FATF Gray List in 2025
The South African government is anticipating that they will address all the FATF international st...
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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...
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Cyberattack Prompts Dallas Firefighter and Police Associations to Demand Identity Theft Protection
It has been three weeks since Dallas’ operations were affected by a municipal network outage. Som...
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Singapore Passes Stringent Regulations to Clamp Down on Money Mules
Singapore has passed stringent regulations to clamp down on money mules and those who give contro...
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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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ePayments Systems Ltd to Permanently Close its Operations Due to Insufficient AML Protocols
FCA accused ePayments Systems Ltd of AML compliance failure. The financial money institution has ...
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Swiss Regulator FINMA Issues DLT Act for Digital Securities Market
The Financial Market Supervisory Authority (FINMA) introduced regulatory amendments for digital s...
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CAMLMAC and UAE Financial Intelligence Unit Join Hands to Fight FinCrime
UAE and China have signed an MoU on August 03, 2021 to combat money laundering and terror financi...
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European Commission Lists Online Gambling a High-Risk Sector for Money Laundering
The European Commission has listed online gambling as a high-risk avenue for money laundering aft...
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The Age Verification Software Market to Experience Tremendous Growth by 2025
The increasing number of scams in today’s virtual world needs a better verification system. Prote...
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Ransomware attacks rise as criminals target remote working
Ransomware attacks are getting bigger and bolder at a time where many organisations are implement...
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FCA Advises Firms to Embed Data and Technology to Combat Financial Crimes
Sarah Pritchard, the FCA executive director of markets, spoke at the Financial Crime Summit in Lo...
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Namibia Enhances its National Crypto Strategy with New Legislation
Namibia raises the bar with new legislation in the National Crypto Strategy to combat crypto scam...
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Turkey to Face FATF’s Gray List Over Inadequate AML Practices
FATF is set to grey list Turkey over AML shortcomings, a move that is likely to affect the countr...
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SEC Partners with Government Agencies and Philippines Police to Combat Money Laundering
The SEC signed a data-sharing agreement with the Philippines police and other government agencies...
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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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UK Adopts new Methods to Fight Money Laundering Through Sanction Regime
The UK declared a new sanction regime against financial crimes like money laundering. According t...
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US Firm Fined with Half a Million Dollars for Violating US Sanctions
A crypto firm, BitPay will now have to pay a fine of half a million dollars to the U.S Treasury’s...
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ECOWAS Partners with Interpol to Tackle Money Laundering
ECOWAS (Economic Community of West African States) partners with INTERPOL (International Criminal...
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Seychelles Upgrade on FATF Recommendation to Strengthen Anti-Money Laundering Measures
Seychelles has upgraded and implemented 5 FATF recommendations to strengthen anti-money launderin...
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German FinTech N26 Notches $100M Amid COVID-19 Uncertainty
A funding deal for an extra $100 million has been closed by a German challenger bank N26 as it pr...
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CBN Fines GTBank N128M for Failing to Meet AML and CTF Requirements
The Central Bank of Nigeria (CBN) has charged Guaranty Trust Bank (GTBank) with N128 million for ...
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Lawrence man indicted of identity theft found guilty
BOSTON (AP) — A man charged with using another person’s Social Security number to illegally obtai...
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UAE Strengthens AML Measures to Bolster Virtual Asset Framework
The UAE’s anti-money laundering and counter-terrorism financing department stated it continues bo...
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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...
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Increasing Financial Crimes Call to Establish a European Center of Excellence For AML Compliance
EU financial and anti-financial crime regulations are more complicated than before and they reinf...
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UAE’s SCA Works on Virtual Asset Investment Regulations
The United Arab Emirates’ Securities and Commodities Authority (SCA) has said that it is ab...
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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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COJ Organizes Anti-Money Laundering Unit to Meet FATF Standards
The Companies Office of Jamaica (COJ) has established an AML and CFT unit to comply with FATF req...
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