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Singapore, Cyprus, and the US Expedite Efforts to Combat Financial Crimes Effectively
Singapore, Cyprus, and the US are stepping up their efforts to curb financial crimes while aiming...
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FinTech Market Gaining Traction in Asia, Slowing Down in US
The Financial Technology (FinTech) market is booming in Asia, especially in China according to a ...
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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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The Brussels Threatens Emirates with Sanctions for Illicit Financial Flow
Think tank has ranked emirates to be the top destination for illicit financial activities. Brusse...
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Philippines AMLC Releases New Study for Suspicious Transactions Linked to Casino Junkets
The Philippines AMLC has officially published the latest study on suspicious transactions linked ...
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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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Philippines AML Council Adds POGO to its Non-Compliance List
In its efforts to fight money laundering and terrorist financing, AMLC has added third POGO to th...
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Research and Data are Key to Developing Fair Crypto Regulations, Say Blockchain Experts
As global regulators are looking to have control over crypto, blockchain analysts say that lawmak...
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NYDFS States Signature Bank’s Closure Was Not Linked to Crypto
According to the head of NYDFS, the decision to close Signature Bank last month had nothing to do...
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US Department Of Justice Announces Enforcement Actions to Regulate Cryptocurrency
The US Department of Justice (DOJ) announced several enforcement actions against cryptocurrency a...
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Binance to Strengthen KYC Measures & Sanctions Enforcement with New Partnerships
The global crypto exchange Binance has announced that it will strengthen its KYC controls & s...
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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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Instagram is Adding Age Verification to Protect Minors
Instagram is adding age verification in order to provide a safer online community to the minors. ...
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Action Fraud Fund Report Exposes Billion-dollar Cryptocurrency Scams
The Action Fraud Fund report exposes the extent of cryptocurrency fraud and Ponzi schemes circula...
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Moroccan Charity, Najiba Foundation, Faces Account Termination by ING Bank for AML Failures
Internationale Nederlanden Groep (ING) wants to terminate one of the largest Moroccan charity fou...
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US Treasury Department Introduces Beneficial Ownership Reporting Form to Enhance AML Measures
The US Treasury Department designed a beneficial ownership report form to strengthen the security...
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UK Treasury Committee Launches Inquiry into the Role of Crypto Assets and the Associated Risks
The Treasury Committee of the UK’s House of Commons has urged the public to submit their take and...
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Switzerland Introduces New Regulations To Clamp Down on Money Laundering
Switzerland proposed new Anti-Money Laundering (AML) regulations to crack down on money launderin...
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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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Russian Central Bank Still Saying “No to Use of Crypto in Settlements”
Russia’s Central Bank has put another wrench in the pro-business Ministry of Finance’...
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Australian Federal Police Issues Warning on Valentine’s Day Financial Scams
Australian authorities have warned the public of new Valentine’s Day scams aimed at singles...
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PHL Ranking Declines in the Corruption Index, Reveals GRP
According to the Global Risk Profile (GRP), the ranking of the Philippines in the corruption inde...
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Brazil to Adopt Tougher Penalties to Curb Money Laundering via Digital Currencies
The fine for digital currency money laundering in Brazil is set to be raised to two-thirds of the...
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Data Breach Exposes 515,000 IDs, More Cases of Synthetic ID Fraud to be Expected?
Hackers broke into the servers at the International Committee of the Red Cross and accessed perso...
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Rapstar Captured for His Role in Wire Fraud Scheme
A famous rapper from Chicago with his crew members was caught and charged in court for using the ...
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Poker Machines Being Preyed by Criminals Amidst COVID-19 Pandemic
During the five months of lockdown due to the COVID-19 pandemic, there has been a growth of 305 U...
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US Attorney General Warns about the Identity Theft this Holiday Season
The Federal Trade Commission states that more than 650,000 citizens’ identities have been comprom...
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Dutch Central Bank Strikes Coinbase with €3.3 Million Fine over Anti-Money Laundering Failings
The Dutch Central Bank (DeNederlandscheBank) has charged Coinbase for having ineffective anti-mon...
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Binance’s Regulatory Setback in Singapore Shifts Attention to Middle East
Binance, the world’s largest cryptocurrency exchange, withdrew its application for licence in Sin...
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A European Money-Laundering Network Captured by French National Gendarmerie
A money-laundering network in France was under investigation for 18 months by French National Gra...
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Victor Fredung Warns Businesses about the Rising Cybercrimes During Halloween
Halloween is one of the most awaited festivals throughout the year. While people plan different t...
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German Customs to Strengthen Fight Against Organised Crime and Money Laundering
Christian Lindner, German Finance Minister, announced at the weekly cabinet meeting held at the C...
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CBDC Rules to Be Introduced by IMF, World Bank, and G20 Countries
The international financial authorities have teamed up with the Group of Twenty (G20) to create C...
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Clearview AI will be facing the legal claims after critical NYT report
Clearview AI is an artificial intelligence firm providing facial recognition technology to US law...
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Norway’s DNB is Facing a Possible Fine of $45M for Poor AML Compliance
Norway’s leading bank, DNB ASA, faces the possibility of a $45 million penalty for its inadequate...
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Canada’s MP Introduces Private Member’s Bill to Amend Criminal Code
The members of parliament of Simcoe North, including the deputy minister of finance, have introdu...
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UK Gambling Commission Charges Kindred Brand $8.7M over AML Shortcomings
The UK Gambling Commission has charged the Kindred Group with a hefty £4.19-million (US$5.15 mill...
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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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Gambling Commission Imposed a £6.1 Million Fine on Touch Games for Money Laundering Failings
The Touch Games, a gambling firm that operates 11 websites, has been fined £6.1 million over fail...
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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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Google CEO voices his concerns regarding AI and its potential harmful damages in the future
Sundar Pichai, Google CEO gave a statement on Monday regarding Artificial Intelligence and its in...
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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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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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Financial Intelligence Center Says SA Car Dealers Are at High Risk of Money Laundering
The Financial Intelligence Centre (FIC) has said that SA’s motor vehicle dealers are at a high ri...
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US government favours a hands-off approach to AI’s regulation
The white house listed 10 principles that federal agencies should consider when drafting laws and...
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Malta Faces 200% Spike in Money Laundering Cases
Financial Intelligence Analysis Unit (FIAU), Malta’s financial regulator, received a 200% increas...
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AUSTRAC to Update Guidance for Threshold Transaction Reporting
AUSTRAC has made it mandatory for reporting entities to include a threshold transaction report (T...
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Australian Payment Network Reports 9.2% Increase in Payment Card Fraud
AusPayNet reports that the e-commerce industry experienced a 9.2% rise in payment card fraud due ...
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EMI Flagged Nearly 40% of UK’s E-Money Exchanges for Money Laundering Risk
A report from Transparency International revealed that nearly 40% of the UK’s e-payment companies...
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Hong Kong Police Seizes $65 Million From Triad Controlled Money Laundering Ring
Hong Kong police detained 458 people and seized $65 million in connection with an extensive crim...
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Identity Thieves on the Hunt for Universal Credit Payments
The UK’s Department for Work and Pension (DWP) has been warning people for not repaying for the b...
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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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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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Cryptocurrency Fraud Reports to UK Action Fraud More Than Double in 2021
The study advises financial regulators to place more pressure on cryptocurrency institutions to c...
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Japan Revises Six Laws to Tackle Money Laundering in Cryptocurrency
The Japanese government is pondering enacting a new law. The “bundling bill” proposed...
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Man Arrested For Stealing Identities, Funding 1800 Online Gambling Accounts
The man suspected of stealing other’s identities to create online gambling accounts has finally b...
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BitGo settles with US Treasury; Sanctions Violations will Cost $98,830
The U.S. Treasury has settled with BitGo over costs that it helped users in authorised divisions ...
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A Ponzi Scheme of $2.7 Million Unleashed
According to the U.S Department of Justice, a former attorney from Allentown was sentenced to six...
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FATF says governments ineffective in stopping money-laundering
According to David Lewis, Executive Secretary, Financial Action Task Force (FATF), governments ar...
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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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Chinese Firms to Test Crypto Opportunities in Hong Kong
Chinese Security companies and banks are attracted by Hong Kong’s retail trading in Bitcoin and E...
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Australia sues Facebook for $525 billion
A lawsuit was filed against Facebook by Australia’s privacy regulator, blaming the social media p...
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BaFin Threatens Deutsche Bank of Fines Over Weak AML Controls
Germany’s Financial Watchdog BaFin is not satisfied with the efforts of Deutsche Bank AG to contr...
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Enhanced AML/CFT Framework Pays Off – Mauritius Off FATF’s Grey List
Implementing an enhanced AML/CFT framework brings terrific news for Mauritius as they are off FAT...
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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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World economic forum considers using blockchain to solve supply chain crisis
The World Economic Forum (WEF) stated on Monday that blockchain and digitization can help supply ...
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New York’s Attorney General Bent on Shutting Fraudulent Crypto Platform
New York’s attorney general has filed a lawsuit against a cryptocurrency platform, known as Coins...
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US Authorities Accuse Russian Oligarch of Money Laundering and Bank Fraud
US authorities have accused Russian oligarch Viktor Vekselberg of conspiring to launder money and...
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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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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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BSP Warns Play-to-Earn Gamers about Potential Illicit Activities
Online gaming platforms should employ KYC verification processes to make payments more secure.
T...
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SARB Issues Guidance to Discourage the Termination of Crypto Transactions in Banks
The South Africa Reserve Bank (SARB)’s Prudential Authority has issued a guidance note to banks f...
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