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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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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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Bank of Queensland Commits to Anti Money Laundering Laws and Risk Management
Bank of Queensland Ltd (BOQ.AX) disclosed that separate agreements had been reached with the coun...
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Iranian President Calls for National Crypto Mining Strategy
The Iranian President, Rouhani, recently informed the officials from the Central Bank of Iran (CB...
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New fake ad alert system launched to fight online scams
According to ITV, the UK Scam Ad Alert tool – developed by the Advertising Standards Authority (A...
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ICAEW and B20 Task Force to Introduce Recommendations For Combating Financial Crimes
Policies for anti-money laundering and terrorist financing compliance will be introduced to comba...
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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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Crypto Exchange BKEX Freezes Withdrawals Under Money Laundering Investigation
BKEX withdrawals were suspended after funds on its platform were used to launder money, according...
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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...
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US Imposes Sanctions on Russian-backed Iranian Oil Smuggling & Money Laundering Network
The US has imposed sanctions on a Russian-backed oil smuggling and money laundering network for I...
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UK has Suffered Fraud and Cyber Crime Losses Worth £1.3 Billion in 2021
London incurred the highest amount of losses to cybercrime and fraud in the first half of 2021, a...
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ECB Will Be Launching Digital Euro Project
An electronic equivalent of banknotes and coins, the digital euro will likely be a digital wallet...
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Fake Zoom Invite Collapsed Australian Hedge Fund with a CyberAttack
A fake zoom invite has taken out $8.7 million in fraudulent invoices by the trustee and administr...
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IRS Criminal Investigation Uncovers Approx. $10 Billion Worth of FinCrime
IRS-CI FY 2021 highlighted $2.19 billion in tax fraud, $8.18 billion in financial crimes, 1497 wa...
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FATF encourages Digital ID during Coronavirus epidemic
The Financial Action Task Force (FAFT) is advocating the use of digital identity technology to se...
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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 ...
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Turkey Remains on the FATF Gray List for AML Regulations Failures
Turkey’s government has failed to comply with Anti-Money Laundering (AML) and Counter-Financing T...
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Japan’s regulator verifies 2 new digital currency alliances
Financial regulators in Japan have approved two organizations to act as digital currency associat...
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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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FinCEN Extends the Comment Period of Virtual Currency Regulations
FinCEN– Financial Crimes Enforcement has finally agreed to reopen the comment period of reg...
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UK Government to Introduce Age Verification Laws For Adult Websites
To restrict minors’ access to adult-oriented content, the UK government is working on impos...
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Mexico: Federal Anti-Money Laundering Agency Freezes 1352 Accounts for Money Laundering
On Tuesday, the police and federal anti-money laundering agency said that they have frozen 1352 b...
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London’s Bank Sees Rise in Crypto Scams Supposedly Backed By Celebrities
An alarming surge in reports on crypto scams backed by celebrities is being seen by a major finan...
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FCMC Fines AS PrivatBank Worth €768K for AML Non-Compliance
The FCMC fined PrivatBank for AML/CTPF compliance breaches and instructed the bank to address its...
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Turkey’s Regulatory Authorities Oblige Rigid Crypto Licensing Measures
Turkey’s Regulatory Authorities stated they will develop rigid regulations for crypto service pla...
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Nepal Approves Anti-Money Laundering Bill to Comply with International Standards
Nepal endorsed an anti-money laundering bill as the initial step to combat financial crime and en...
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FATF to Conduct Checks & ‘Gray List’ Countries to Enforce Crypto AML Regulations
Global financial watchdog FATF has planned to perform checks and ‘grey list’ countries to ensure ...
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“Illicit Actors are Turning to E-commerce as a Money Laundering Tool” UAE Central Bank Discloses
The United Arab Emirates central bank sees increased risks of illicit financial flows emerging fr...
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The UK’s NCA Establishes New Unit to Clamp Down on Corrupt Elites & Money Launderers
The UK’s National Crime Agency (NCA) created a new unit with the aim to target and investigate co...
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Dutch Court Rules Out Duties Imposed by National Bank on Crypto Platforms
The Dutch District Court ruled out all National Bank’s duties on the crypto platforms by stating ...
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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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Albania’s Fight Against Money Laundering and Terrorist Financing Gains Traction
Based on the Council of Europe’s MONEYVAL review report, published on June 21st, Albania ha...
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Shufti Bagged “Product Leader” Award with 92% Customer Satisfaction
Shufti, an AI-powered identity verification services provider has won the Product Leader 2020...
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UAE Establishes Anti-Money Laundering Bodies to Enhance Global Monitoring
The United Arab Emirates is enhancing its money monitoring system to combat illicit cash flows, m...
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HKMA Issues Guide for Regtech Adoption in Customer Monitoring
The second guide published by the HKMA will allow banks to test their internal measures and infra...
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Japan Crypto Regulator States Easing of Restrictions Must Wait
The Japanese financial regulator FSA is reluctant about easing regulatory requirements for the cr...
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FIAU Imposed a Fine of €130,000 on Olimp Limited for AML Failures
Olimp Limited has dropped its gaming license since FIAU imposed €130,000 fine on the company for ...
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Shufti’s Age Verification Solution Approved by KJM
Germany’s Commission for media, Kommission für Jugendmedienschutz (KJM), has approved Shufti’...
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UAE Central Bank Issues New AML/CFT Guidelines for Licensed Financial Institutions
CBUAE (Central Bank of UAE) has administered new AML/CFT guidance for Licensed Financial Institut...
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SFC Finalizes Consultation Conclusions on AML Guidelines
Updated AML/CFT guidelines are expected to come into effect from 30 September 2021, except for th...
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Combating COVID-19: Dubai warns of $10 million loan scheme fraud
A recent scam has emerged in Dubai which involves a $10 million loan for young entrepreneurs and ...
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Palm Beach Art Dealer Charged With Money Laundering Through Fake Art
South Florida federal court received a complaint accusing art dealer Daniel Elie Bouaziz of wire ...
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China’s Central Bank Fines ICBC & Bank of Chongqing for AML Shortcomings
Chinese banks including industrial and commercial banks of Chongqing have been fined by regulator...
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FINTRAC Fines Two B.C. Real Estate Brokerage Firms for AML Violations
The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) has recently fined two...
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Garantex Sanctioned by the US for Laundering Over $100 Million
The US Treasury Department has sanctioned the virtual currency exchange Garantex for facilitating...
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IRS Criminal Investigation Uncovers Approx. $10 Billion Worth of FinCrime
IRS-CI FY 2021 highlighted $2.19 billion in tax fraud, $8.18 billion in financial crimes, 1497 wa...
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BC Money Laundering Inquiry Report Calls for New Law Enforcement Unit
BC has released a money laundering report that carries multiple recommendations and includes the ...
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Jamaica Shows Significant Progress in Anti-Money Laundering Compliance
Jamaica impressively complied with 37 recommendations from 40 international Financial Action Task...
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Binance Fined $3.4 million by Dutch Central Bank For Violating Regulatory Laws
The De Nederlandsche Bank (DNB) fined Binance with $3.4 million for failing to get regulatory ap...
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UK’s financial system claims to survive Coronavirus hit
Britain’s banks inform investors that they are optimistic that their balance sheets are strong en...
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Pinterest Enhances Age Verification Measures to Protect Users Under 16
Pinterest reveals a new series of security features to make its platforms secure for teens. These...
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Star Casino’s Share Tumbles 21% Following Money Laundering Allegations
Individuals banned from gambling at the Star casino in Sydney had been permitted to gamble at Sta...
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Legal Challenges Against TikTok for Breaching Child Privacy Policy
TikTok, the most trending social media application in the present times is facing legal actions f...
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FinCEN Highlights That AML/CFT Regulation Requires Transformation to Fight Modern Crimes
The acting director of FinCEN has highlighted the fact that the existing AML/CFT regulatory frame...
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Liberian Ministers Allegedly Laundering Money Using Foreign Lobbying Contracts, Investigation Reveals
Liberia, one of the poorest countries in the world, is said to spend an enormous and highly suspi...
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Largest Banking Cooperation in Columbia Busted for Violating Anti-money Laundering Regulations
Banco de Occidente, Columbia’s largest banking cooperation Grupo Aval owned by one of the richest...
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MALACAÑANG Orders Relevant Government Agencies to Implement Anti-Money Laundering Plans and Programs
Aiming to exit the Financial Action Task Force’s (FATF) grey list by January 2024, MALACAÑANG Pal...
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Queensland Launches New Inquiry into Star Entertainment’s Money Laundering Controls
Queensland initiates a new investigation to examine the money laundering controls of the Gambling...
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EU Limits Use of Cash and Cryptocurrency to Curb Financial Fraud
The European Union (EU) has issued new measures to limit use of cash and cryptocurrencies to tack...
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Turkey Set to Toughen AML Laws on Crypto Asset Platforms
Turkey is designing new and stricter obligations to prevent crypto-asset platforms from money lau...
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UAE Arrests Gupta Brothers As Part of Efforts to Combat Money Laundering
The UAE has arrested the internationally wanted Gupta brothers who were charged for money launder...
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SEC Cautions Citizens Regarding Digital Investment Scams in the Philippines
The Securities and Exchange Commission (SEC) has warned the public to pay caution while making d...
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Denmark’s Gambling Authority Issues Reminder for AML Duties
All licensed businesses are reminded to report suspicious transactions that may be indicative of ...
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Crypto Bank Anchorage Has Inadequate AML Measures, Says US Federal Regulator
A US federal regulator has said that the first federally-chartered digital asset bank Anchorage D...
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UAE Central Bank Fines Firm $490,000 for Violating AML/CFT laws
The UAE’s Central Bank has charged a financial firm Dh1.8 million ($490,000) over breaching the c...
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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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Taiwan Bans Four Foreign Banks for Breaching FX Regulations
The Central Bank of Taiwan has penalized four foreign banks for assisting 8 major grain companies...
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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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Peru Set Rules For Virtual Assets Platforms Under Anti-Money Laundering Regime
The Peruvian government ordered virtual assets service providers to report their activities to th...
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Bahrain sentences three money-laundering suspects to prison
Bahrain fined three suspects of $9 million and sentenced them to prison in the Future Bank case. ...
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PBOC Issues New Financial Rules to Curb Money Laundering Risks
The People’s Bank of China (PBOC), The China Banking and Insurance Regulatory Commission, a...
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People’s Bank of China to Monitor Metaverse and NFTs
The Chinese financial watchdogs are all set to expand cryptocurrency crackdown as Gou Wenjun sugg...
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