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Ireland Seizes More than €1m Cryptocurrency from Money Laundering Syndicate
Ireland seized over €1m in cryptocurrency as a part of an investigation against national and inte...
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National Audit Office Plans to Review FCA’s Responsibilities
The National Audit Office (NAO) plans to assess the Financial Conduct Authority (FCA)’s growing r...
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Japan Calls for Disclosure of Major Company Shareholders
Japan’s Ministry of Justice will require firms to submit details of their major shareholders, als...
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Garmin Online Services Reportedly Hit With Ransomware Attack in demand for $10 Million
Ransomware attacks are on the rise, and Garmin is the latest big name to take a hit.
A hacker gro...
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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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Swiss Prosecutors Scrutinize Lebanon’s Central Bank for Money Laundering
Prosecutors in Switzerland are carrying out investigations from the British Virgin Islands to Gen...
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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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FATF applauds Korea’s AML and CFT efforts
According to the FATF, Korea features a sound legal framework to tackle money concealment and ter...
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Aussies Lost Record-breaking $851 million During COVID-19: ACCC Reports
Amid the pandemic, Australians lost a record-breaking amount of $851 million in 2020. According t...
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MAS Rejects License Applications of 100 Crypto Exchanges for Ineffective CDD Protocols
Over 100 companies were either turned down or had to withdraw their applications for a license to...
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Dubai Court Sentences Gang of 18 for Charges of Money Laundering
The Dubai Criminal Court has convicted a gang of 18 individuals belonging to different countries ...
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EU to add Panama, Bahamas, and others to money-laundering blacklist
The European Commission has included Mauritius, Panama, and ten other states to its list of count...
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SRA Fines Oxfordshire Law Firm over Weak AML Controls
The SRA (Solicitors Regulation Authority) has charged £20,000 to an Oxfordshire law firm after id...
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FATF Highlights the Increasing Risk of Trade-Based Money Laundering
FATF- Financial Action Task Force is warning businesses of the risk they face regarding trade-bas...
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Financial Regulators in China Ban Bitcoin Trading for Financial Security
China imposed a fresh ban on the cryptocurrency sector making the price of bitcoin fall below $34...
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Hong Kong Amends AML/CTF Laws to Include Crypto Exchanges
Hong Kong’s legislative council has amended its Anti Money Laundering and Countering Terrorist F...
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Central Banks of UAE and Saudi Arabia Released a Joint Report on CBDC
A joint report published by the central banks of UAE and Saudi Arabia, two countries with the mos...
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US Shows Conflicts with China at First Financial Meeting
In a recent financial working group meeting, the US Treasury raised disagreements with China, whe...
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US Set to Disclose New Real Estate Regulations to Combat Money Laundering
The US Treasury Department is ready to introduce rigid regulations to close security loopholes in...
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MAS Rejects License Applications of 100 Crypto Exchanges for Ineffective CDD Protocols
Over 100 companies were either turned down or had to withdraw their applications for a license to...
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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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FATF issued guidance on risk-based AML/CFT policies
The Financial Action Task Force has issued finalised supervision on adopting a risk-based strateg...
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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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The Cayman Islands Pleads to be Removed from the FATF’s ‘Gray List’ of Jurisdictions Suspected of Money Laundering
An initiative by the Cayman Islands in France, on June 19th, asked the Financial Authority Task F...
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FCA Fines £642K to Sunrise Brokers for AML Failings
FCA imposed a £642K fine on Sunrise broker for facilitating fraudster trading and having an inade...
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14 Arrested in Money-Laundering Crackdown, Over HK$300 Million Seized
Hong Kong police carried out a crackdown on money laundering groups, 14 arrested and HK$300 milli...
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Dubai KYC consortium to enhance UAE bank profits
According to Moody’s Investors Service, the recently formed Know Your Customer (KYC) consortium i...
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New US Legislation Implemented to Enhance Supervision of Cryptocurrency Transactions
US lawmakers introduced a new bill, the “Off-Chain Digital Commodity Transaction Reporting Act,” ...
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KYC/AML and Sanctions fines reach $5.6 billion mid-year for global financial institutions
The leading provider of digital transformation and client lifecycle management (CLM) solution, Fe...
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Brexit Deal Decides the Future of Financial Service in the UK and the EU
Marketers have finally realized the full text of the deal between the UK and Brussels regarding t...
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UK Mandates Enhanced Due Diligence on High-Risk Jurisdiction
Authorities in the UK rolls our new regulatory measures to perform enhanced due diligence for hig...
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Govt assists Struggling Swiss Crypto Valley
Switzerland’s “Crypto Valley” is in talks with the federal government for fixing a 100 million Sw...
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Malta-based Pilatus Bank Fined €5m Over AML & Terrorism Breaches
Pilatus Bank failed on various accounts, including identity verification of customer businesses, ...
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Cambodia Seeks Exit from FATF Grey List in Early 2023
Cambodia has finally invited the Financial Action Task Force (FATF) to evaluate its progress in f...
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Macau to Introduce Digital Currency to Combat AML Threats in Casinos
Macau is moving towards introducing digital currency to fight money laundering and tax evasion in...
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Bulgaria Must Strengthen its Measures Against Money Laundering & Terrorist Financing – Moneyval
Moneyval called on Bulgaria to improve the regulatory standards for the domestic framework consis...
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UAE Deploys Hi-Tech Measures to Combat Money Laundering
The UAE has intensified its measures in the fight against money laundering and terrorism financin...
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The UK Introduces Beneficial Ownership Register for Overseas Entities
The implementation of the UK government’s Economic Crime (Transparency and Enforcement) Bill has ...
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Hacker Group Profited $7M in Crypto by Selling Stolen Credit Cards
A hacker group “Keeper” developed an interconnected network of over 570 eCommerce sites to steal ...
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GIABA to Release Liberia’s AML and CFT Compliance Evaluation Report
The GIABA has finally released its findings about Liberia’s gains and challenges in the fight aga...
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FCA Fines ADM Investors for Violating Anti-Money Laundering Regulations
The UK regulatory department Financial Conduct Authority (FCA) fined $7.9 million to the commodit...
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MAS Imposed a Fine of $375,000 on UOB Kay Hian For Business Conduct Compliance Failures
The Monetary Authority of Singapore (MAS) imposed a fine of S$375,000 on UOB Kay Hian, a brokerag...
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Financial Regulators in China Ban Bitcoin Trading for Financial Security
China imposed a fresh ban on the cryptocurrency sector making the price of bitcoin fall below $34...
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Luxembourg Updates AML Laws for Verification of Beneficial Ownership
Luxembourg has amended its Anti-Money Laundering regulation requiring practitioners to identify b...
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FATF Issues New Set of AML and CTF Recommendations for EU States
The Financial Action Task Force (FATF) has offered a new set of guidance for European Union (EU) ...
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China Strengthens Anti-Money Laundering Rules for Financial Institutions
China has taken steps to improve financial institutions’ measures to combat money laundering by p...
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Money Laundering Becomes Another Cause of Poverty, Says UN
According to the latest UN’s report, over 10% of the world’s wealth could be hidden in overseas b...
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Study Reveals Alabama to be the Center for Identity Theft and Fraud
According to the latest study, Alabama has become the state with one of the highest rates of iden...
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ASIC Expands its Team to Enhance Cryptocurrency Regulations
Australia’s financial regulator has enhanced the size of its crypto team. The crypto regula...
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Central Bank of Nigeria (CBN) Gives Financial Institutions 30 day Deadline to Close Accounts Without Bank Verification (BVN)
Financial institutions and banks have been given a 30 days notice period by the Central Bank of N...
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New York State Department Fines Robinhood $30m for Inadequate AML Compliance Measures
New York’s top financial regulator has fined Robinhood $30 million for failures and shortcomings ...
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Banks in the UK Face Customer Frustration for Digital Identity Checks
The global analytics software service provider FICO has reported that the banks in the United Kin...
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Arizona Bank Used to Funnel 11 Million USD in a Money Laundering Scheme
According to Federal prosecutors, a money-laundering scheme has been successful in funneling $11 ...
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US DOJ Stresses Disclosure of Beneficial Ownership Information to Curb Illicit Finance
The US says that it is important for countries and governments to embrace a policy of disclosing ...
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Crypto Exchange Binance Banned by UK’s Financial Watchdog
Britain’s financial regulator, the FCA (Financial Conduct Authority) has said that Binance is no ...
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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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FATF Withdraws Switzerland From AML Enhanced Measures List
The Financial Action Task Force (FATF) removed Switzerland from the enhanced money-laundering com...
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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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Personal Privacy Concerns Raised over FinCEN’s Proposed Crypto Rules
The advocacy group in their latest comment has disregarded the proposed regulatory requirements b...
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Russian Financial Authorities Reach Consensus on Crypto Mining Regulation
Russian financial authorities have adopted a common ground on cryptocurrency mining regulation. T...
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Europol and EU Member States Launch Operation Targeting Assets of Sanctioned Entities
Europol and EU member states along with Eurojust and Frontex have launched Operation Oscar to ass...
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New Zealand to Update AML/CFT Regulation from 9 July 2021
Among other changes, reporting entities have been directed to conduct customer due diligence on n...
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Seychelles Prosecutes First Money Laundering Case Against Elites from Pandora Papers
Seychelles, known for being a tax haven, was recently removed from the EU’s blacklist and is purs...
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Saudi Central Bank Instruct Banks to Combat Financial Crimes
According to the Central Bank of Saudi Arab, the fraudulent operations are linked with the money ...
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TD Banking Group Expects US Penalties for Money Laundering
TD Banking Group disclosed that they expect fines and non-compliance penalties related to US auth...
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UAE and UK Initiate Large-Scale Crackdowns Against Money Laundering
The UAE has set up an AML task force that is currently pursuing hundreds of cases, and Cambridges...
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NSW Gambling Laws Increase Risks of Money Laundering, Says the State’s Crime Commission
The New South Wales Crime Commission says that some of the state’s gambling laws have increased t...
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Mega Bank Fined $10 Million in Fake Mortgage Case
Due to poor internal controls, 28 fraudulent mortgage applications went undetected.
The Financia...
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Fraudsters Seek Fake COVID Test Reports as New Travel Restrictions Roll Out
As the new travel restrictions are imposed to omit the spread of the coronavirus, the fraudsters ...
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Saudi’s SAMA Warns Clients of Upsurge in Financial Fraud
SAMA urges clients to practice the highest degree of caution and prevents exposing any confidenti...
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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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Hong Kong Custom Busts Money Laundering Ring Accused of Smuggling HK$170M
Investigators suspect that the criminal gang laundered part of the cash through casinos in Macau....
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