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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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South Africa Enforces New Rules to Transfer Funds Abroad
The South African Revenue Service (SARS) has made regulatory changes to transfer funds overseas, ...
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The Czech Republic Government Amends Beneficial Ownership Law to Meet AML Obligations
The Czech Republic government revised Beneficial Ownership Law upon the European Commission’...
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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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Turkish President Announces New Crypto Bill to Legalize Virtual Assets
Turkey’s Parliament to announce the cryptocurrency bill in the coming weeks. Legal framework will...
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ICC Qatar is going to have a seminar on money laundering and terrorist financing
The International Chamber of Commerce (ICC) Qatar is conducting a compliance awareness seminar on...
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UAE Issues $1.048 Billion Worth of Fines for Money Laundering & Terrorism Financing
UAE’s Executive Office to Combat Money Laundering and Terrorist Financing has claimed to collect ...
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FINTRAC Issues Alert on Money Laundering from Illegal Wildlife Trade
FINTRAC, in collaboration with the Project Anton team, issues an alert on money laundering procee...
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Kinahan Cartel Under Pressure as European Union Places UAE on ‘Blacklist’
The Kinahan Cartel is under great pressure after the European Union (EU) places the UAE on the ‘b...
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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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New York Federal Reserve Sued by Puerto Rican Bank For Blocking Service in Venezuela
A Puerto Rican bank has sued the New York Federal Reserve on 25th July for suspending their acces...
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NDAA Passed to Strengthen the Financial Crime Monitoring in the USA
The House of Representatives has passed the National Defense Authorization Act to strengthen the ...
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Hogan and other US Top Official Become the Victim of Identity Theft
A fraud scheme attacking top government officials of Maryland State has been uncovered. The schem...
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FIAU Slaps Triton Capital Markets Limited with €227,000 Fine for AML/CTF Breaches
The Financial Services Analysis Unit (FIAU) FIAU has fined Triton Capital Markets Limited €227,0...
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FSA Imposed £247,324 Fine on Standard Bank for “Serious Regulatory Failings”
The Isle of Man Financial Services Authority (IOMFSA) has imposed EUR 247,324 fine on Standard Li...
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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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Hacker attempts to steal crypto via fake Google Chrome extensions
A hacker is exploiting trust in renowned brands by creating fake cryptocurrency wallet extensions...
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FTX Customers File Class Action Against Bankrupt Crypto Exchange
FTX customers had filed a class action against the bankrupt crypto exchange and its ex-CEO Sam Ba...
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A Three-fold Rise in AML Penalties in China in 2020
China’s banks and financial institutions have faced an increase in penalties in the year 2020 due...
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Russian Sanctions Put Switzerland in a Tough Spot Between Regulators and Oligarchs
Switzerland’s luxury sector is in a tough spot after Western countries have imposed sanctions aga...
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Livestreaming Helps Shanghai Police Crack Money Laundering Case
There has been an arrest of a live streamer by Shanghai police who had been tipped off by a live ...
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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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Thailand Launches Anti-Online Scam Center to Combat Cybercrimes
The Thai Government has officially launched the Anti-Online Scam Operation Centre (AOC) as of No...
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European Commission to Negotiate Scope of NFTs & Private Wallets in Crypto Regulation
Members of the EU Parliament, the European Commission, and state representatives are all set to n...
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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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Georgia’s Voting Infrastructure Becomes the First Ransomware Target in 2020 Elections
The US voting system was under a ransomware attack earlier in October. The rumours are true and G...
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Britain Court Urges Binance for Better Financial Crime Prevention
The Court of London in an order emphasised that Binance should develop policies and procedures to...
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ODJFS Makes Efforts Against Fraud Schemes, Calling for Improved Safeguards
The Ohio Department of Jobs and Family Services (ODJFS) has estimated that approximately $506 mil...
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US Regulators Worried about the Rise in Synthetic Identity Fraud
Synthetic identity fraud, a financial crime in the USA, is on the rise. This has concerned the Un...
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FATF Publishes 35 New Indicators Against Trade-based Money Laundering
Financial Action Task Force (FATF) and Egmont group has published a new report on risk-indicators...
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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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FinCEN Alerts FIs of Sanction Evasion by Russian Entities Implicated in U.S. Commercial Property Investments
FinCEN alerted all the Financial Institutions warning about the risk of investment from sanctione...
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Mishcon de Reya fined £232,500 for AML Failures
London’s leading firm, Mishcon De Reya has been fined EUR 232,500 over failing Anti-Money Launder...
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Credit Union Identity Theft Investigation Handed Over to Federal Prosecutors
NY Police have handed over the investigation of a $100,000 ID theft ring allegedly involving a fo...
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IAMAI To Set Up A Board To Ensure Voluntary Compliance With AML & KYC
New Delhi: On Tuesday, June 1st, the Internet and Mobile Association of India (IAMAI), announced ...
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Qatar Takes Steps to Strengthen its AML/CFT and Sanctions Compliance
A webinar organised by ICC Qatar emphasised the efforts of Qatar to strengthen its AML/CFT and sa...
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Scammers Set to Defraud this Holiday Season, FBI Warns!
This holiday season, New Mexican shoppers are at risk of facing scammers. Criminals are all set t...
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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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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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A Trust Company Penalised for Opening a Doorway to Money Laundering
A team of accountants and economists have been fined by a court in Channel Island for neglecting ...
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Danish Gaming Regulator to Support the Ministry of Justice’s National AML Strategy
Denmark promises to crackdown on money laundering activities across the nation with a new AML str...
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Estonia’s New AML/CFT Regulatory Regime Sparks 80% Downfall in Licensed Crypto Firms
Since May 2023, Estonia’s updated crypto AML/CFT regulations have resulted in an 80% reduction in...
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US Financial Committee to Investigate Crypto to Combat Terrorist Financing
The US House of Financial Service Committee (FSC) is set to conduct an in-depth investigation of...
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5 Billion Unique Credentials Circulating on Darknet
According to the report released by security firm Digital Shadows, a total of 15 billion user cre...
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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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Central Bank of Bangladesh Concerns Over Data Submission Delays and Abnormalities
The Central Bank of Bangladesh has raised concerns over licensed bank dealers for late submission...
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State Street Bank fined $1.24 million for breaching AML laws
The US-based State Street bank has been hit with million-dollar money laundering fine. The Austra...
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Facebook affirms Libra commitment with new job openings
According to the Irish Times. Facebook is planning to hire 50 people for its payment app Calibra ...
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‘EU Has Fragmented Approach to Combat FinCrime’, Says ECA
The European Court of Auditors (ECA) has identified weaknesses in the Anti-Money Laundering polic...
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UK Approves New Age Verification Laws to Protect Children
The UK government approved the “Online Safety Bill,” which contains measures to protect children ...
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Gaming & Investment Firms in Malta Penalised with €4.6M for AML Failures
The financial intelligence Analysis Unit has issued an annual report that shows that the total fi...
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Customers warned of scams by the UK banking lobby amid COVID-19
Banking customers should be aware of fraudsters who are exploiting the COVID-19 epidemic to carry...
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IMF Urges Philippines to Enhance AML Measures to be Removed from Grey List
The International Monetary Fund (IMF) stated that the Philippines government should adopt an enha...
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Sri Lankan Regulatory Authorities Enforce AML/CFT Measures to Avoid FATF Grey and Black List
The Financial Action Task Force (FATF) started cracking down on Sri Lanka’s financial institutes ...
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The Law Society of Kenya Discusses Legalisation for Reporting of AML Cases
The annual conference of the Law Society of Kenya (LSK) was held at the weekend in Diani, the Pre...
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Ireland’s Central Bank Found Gaps in Anti-Money Laundering Compliance Practices
Ireland’s Central bank has found that certain financial firms are lacking in regards to anti-mone...
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SEC Charges $79 Million Penalties on Broker Companies for Deficiencies in Recordkeeping
The Security and Exchange Commission (SEC) has imposed $79 million worth of penalties on brokerag...
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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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Nepal’s Foreign Employment Sector Witnesses a Surge in Fraudulent Cases
The number of individuals seeking international employment from Nepal has increased, and so do th...
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BaFin Imposes $10M Fine on Deutsche Bank for Euribor Control Failing
Deutsche Bank faces challenges as BaFin imposes a 10-million dollar fine for Euribor control fail...
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Cambridge University Hospital Breach Exposes Data of Cancer and Pregnancy Patients
The Cambridge University Hospital admitted they mistakenly leaked over 22,000 pregnant women and ...
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Scammers Stealing Kids’ Identities By Offering ‘Free Child Safety Kids”
The Better Business Bureau (BBB) is warning parents to be aware of ‘free child safety kits’ as sc...
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Danske to face $2 billion fine for money laundering
According to Jyske Bank, Danske will probably be fined around 13.5 billion kroner (around $2 bill...
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AML Council Warns Financial Institutions to Strengthen Systems for Effective Money Laundering Prevention
Banks and financial institutions should implement a strengthened anti-money laundering system to ...
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Mass Stablecoin Adoption Could Assist Financial Crime – Says FATF
FATF suggests nations and financial service providers should identify potential risks of cryptocu...
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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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FinCEN and FDIC to Test the Effectiveness of Digital ID Verification Tools
Two federal regulators – the FinCEN and FDIC have called for a ‘tech sprint’ to assess the ...
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South Korea FSC Identifies 14 ‘Fake’ Crypto Accounts Held by VASPs
All crypto accounts in South Korea are directed to register under their real names. Third-party b...
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FATF Member, Saudi Arabia, Winning the World Money Laundering Race
During a virtual meeting on Monday, the FATF supported Saudi Arabia to combat money laundering an...
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US Regulates Art Market as it is at High Risk of Money Laundering
Law enforcement agencies across the globe have turned their attention to the use of high-value ar...
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FinCEN and Federal Reserve Board Reducing the Bar for International Transactions
The FinCEN and Federal Reserve Board are planning to reduce the threshold for international trans...
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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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