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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...
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Hong Kong Crypto Exchange Platform JPEX Involved in a $178M Fraud
Hong Kong Authorities claimed they received over 23,000 complaints against the Dubai-registered c...
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Singaporean Regulatory Authority Imposes $7.8M Worth of AML Non-Compliance Fines
The Monetary Authority of Singapore (MAS) has imposed $7.8m fines on financial sector businesses,...
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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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Global regulators propose stricter scrutiny of derivatives clearers amidst deadlock with banks
LONDON – Global regulators have suggested greater scrutiny of clearinghouses managing trill...
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UK Parliament Legislates New Digital Identity Verification Services Bill
On Wednesday, in the King’s Speech, the UK government presented a new Digital Identity Verificati...
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PayPal is hiring crypto engineers amid rumors of Bitcoin integration
Crypto and blockchain experts are being hired by Paypal as rumors circulate that the global payme...
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Elon Musk proposes regulations on artificial intelligence
”Organizations developing artificial intelligence must be regulated”, says Elon Musk. This is not...
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Uganda Remains Greylisted by FATF for Money Laundering
There will be no change to Uganda’s status on the “grey list” due to the countr...
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Money Laundering Proceedings Against Pilatus Set Back Indefinitely
Money laundering proceedings against Pilatus Bank and its former top officials will likely be set...
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Optus Data Breach Leaves Millions of Australians at Risk of Identity Theft
The APF is investigating Optus’s data breach that involves millions of customers’ per...
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Abu Dhabi Regulatory Authority Fines Pyypl $486,000 for Violating Money Laundering Laws
Abu Dhabi Global Market (ADGM) financial regulatory authority fined $486,000 to digital UAE bank ...
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FIAU Imposes €60,000 Fine on Audit Firm for AML Failings
€60,000 fine imposed on an audit company, for failing to report money laundering and suspected ta...
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UK Finance Sector and Police Stopped £32m Fraud in First Half of 2021
The ‘Banking Protocol’ introduced in 2016 has now helped prevent financial fraud worth £174...
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One Million Student Records Compromised by E-Learning Sites
About one million online student records that contain personal information of students have been ...
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FBI Reveals North Korea’s Lazarus Group Involvement in $41 Million Stake Hack
US Federal Bureau Investigation (FBI) has revealed that the North Korean hacking group, Lazarus, ...
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Singapore Taking New Actions Against Terror Financing and Money Laundering
Singapore’s Parliament took improved measures against the financing of terrorism and money launde...
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California to Legislate Stronger Children’s Online Safety Bill
Assembly Bill 2273 for children’s online safety and privacy was approved by lawmakers in Ca...
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Amazon Challenges Pentagon’s $10 Billion Contract To Microsoft
Amazon said on Thursday, that it is going to challenge a $10 billion contract awarded to Microsof...
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International Student Sues Commonwealth Bank for Money Laundering Scam
An Indonesian student and her family sued the Commonwealth Bank as they lost millions of dollars ...
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Oklahoma Takes Strict Legislative Measures to Prevent Child Identity Theft
The Senate of Oklahoma has approved a bill to take strict measures against those involved in the ...
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AML and Crypto Fines Surge to £4bn in Regulatory Crackdown
The global AML fines surged 53% in 2022, while crypto fines rose over 90% as regulators cracked d...
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UAE banking sector unites with law enforcement agencies to tackle fraud
Dubai: UAE’s first national fraud awareness campaign has been initiated with the collaboration of...
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Bank of Ireland Warns Customers of Rise in Phone Call and Text Scams
Bank of Ireland has warned clients of a surge in phone calls and text message scams. As per the f...
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AMLC Reports Steady Rise in Phishing and Hacking Attacks in the Philippines
The Anti Money Laundering Council (AMLC) has reported a steady rise in phishing and hacking attac...
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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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Hungary Becomes “Largely Compliant” with FATF Standards After Improving AML/CFT Measures
The Anti-Money Laundering Body of the Council of Europe has stated that Hungary has improved its ...
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Owner of RGCoins Rosen Iossifov Guilty of Crypto Money Laundering
Iossifov was accused of two conspiracy counts; racketeering and money laundering. After a two-wee...
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Law firm Clyde & Co. fined $635K for Breaching UK Money Laundering Laws
Global law firm Clyde & Co. was fined £500,000 ($635,613) on 11 January for multiple breaches...
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COVID Vaccine Certificate Fraud Leads to Suspension of GGD Employees
A 20-year-old man arrested for being a part of Covid-19 certificate fraud. Many GGD employees are...
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Swedish gambling regulator seeks high money-laundering fines
The Swedish Gambling Authority (SGA) has taken a tough stance against money laundering and reques...
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South Korea to Crush Crypto Ignited Illicit Activities
South Korea has announced to eliminate all cryptocurrency-related illegal activities including mo...
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OCBC Fines Money Laundering Suspect $19.7million
The Oversea-Chinese Banking Corporation (OCBC) has fined the individuals involved in Singapore’s ...
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EU Parliament Proposes Change in AML Bill to Increase Focus on NFTs
Lawmakers in the EU Parliament have proposed new changes for the upcoming AML bill to increase fo...
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BSP Seeks to Tighten Rules on Reporting ML/TF Threats
The Bangko Sentral ng Pilipinas (BSP) is seeking to tighten guidelines on reporting threats relat...
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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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Hong Kong’s New Crypto Regulations may Attract Web3 Firms Back
Hong Kong’s new proposed crypto regulation received Huobi Global’s, a Chinese crypto platform, pl...
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Global regulators propose stricter scrutiny of derivatives clearers amidst deadlock with banks
LONDON – Global regulators have suggested greater scrutiny of clearinghouses managing trill...
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Feds Bust Columbian Drug Cartel’s Scheme to Launder “Millions” Through US Banks
A Columbian drug cartel’s scheme was busted by the federal prosecutors who moved millions through...
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US Treasury Targets Russian Oligarchs as Part of New to Tackle Illicit Finance
Strategy imposed by the US Treasury to combat illicit finance targets Russian Obligarch as part o...
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FinCEN Says Russia Cannot Evade Sanctions with Crypto
Global lawmakers are taking a closer look at digital assets and how they can or cannot be used to...
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New AML Reforms ‘Tranche 1.5’ Take Effect in Australia
In an attempt to streamline customer verification and correspondent banking, AUSTRAC has issued r...
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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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UK Banks and Tech Firms Call on Regulators for Guidance on Tackling Scams
Banks, tech, and telecom firms in Britain have called on lawmakers and regulators to make it easy...
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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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UAE Banks Asked to Strengthen their AML/CFT Measures
UAE financial institutions and the banks are required to prioritize eliminating money laundering ...
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The Nigerian Bar Association (NBA) Introduces Anti-Terrorist Financing, Anti-Money Laundering Laws
Lawyers in Nigeria are being instructed to follow anti-money laundering and terrorist financing l...
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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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Dutch Money Mule Caught Involved in $3.5M of Money Laundering in Australia
A 22-year old Dutch national has been arrested by Australian Police for being a money mule in a m...
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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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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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Singaporean Banks Enhance Security to Combat Financial Crime
The Monetary Authority of Singapore (MAS) stated that the country’s banks are enhancing security ...
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HKMA Reveals Phishing Fraud Went Up by 145% in 2021
Statistics revealed by HKMA show that phishing fraud rose by 145% in the first half of 2021.
Hon...
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Global Drug, Money Laundering Hub Busted in Las Vegas
Federal law enforcement officials in Las Vegas have dismantled an international money laundering ...
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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...
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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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Australia DTA Consults on Upcoming “Trusted Digital Identity Bill”
The consultation will facilitate the Trusted Digital Identity Bill, making digital identity syste...
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FCA Alerts Crypto Firms to prepare for Advertising Rule Change
The UK Financial Watchdog has alerted all Crypto firms to be prepared for advertising rule change...
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Westpac Proven Guilty of Breaching Money Laundering Laws after Commonwealth Bank
Westpac was accused of violating the money laundering laws and counter-terrorism financial allega...
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The Biggest Software Company in the US under Ransomware Attack on Election Night
Tyler Technologies in Plano, Texas, was under a ransomware attack last week. The company sells so...
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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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Singapore Scammers Launder Money Through Online Gambling
Singapore police seized US $736 million worth of cryptocurrencies and virtual assets from money l...
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China’s Digital Currency Could Be Launched ‘Quite Soon’
Within the next 6 to 12 months, China could launch its own digital currency which may become a ch...
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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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Landry’s Inc. warns customers of the potential data breach
Landry’s Inc., a parent company of more than 60 restaurant chains, installed a payment processing...
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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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German Parliament Passes Anti-Money Laundering Laws
On Thursday, the German parliament passed a draft of anti-money laundering measures to make sure ...
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U.S. Treasury Identifies Emerging Money Laundering Risks and Vulnerabilities
The US Department of the Treasury recently issued its National Risk Assessment for Money Launderi...
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Cyber Attacks are More Frequent During the Holiday Season: CISA
The holiday season is always accompanied by deals, discounts, special offers and countless shoppi...
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Cayman Island Businesses Urged to Maintain Beneficial Ownership Information
Cayman companies are urged to maintain beneficial ownership information in accordance with intern...
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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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Joint US-Spanish Operation Broke a Multi-Million Euro Credit Card Scam
The US Secret Service and Spanish police were working together on an operation when they shut dow...
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