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Few Hours Left! Was Mail-in-Ballots Successful?
The US elections 2020 have been exhilarating yet stressful for all the residents. The coronavirus...
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EU Parliament Committee Backs MiCA Deal to Effectively Manage Crypto
The MiCA deal has been approved by the economic committee of the EU Parliament. The committee has...
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Ransomware gang failed to deploy an attack against 30 US firms
A ransomware attack was blocked by a group by the Cybersecurity firm Symantec known for demanding...
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Tether Executives to Face DOJ Bank Fraud Probe
Since its inception in 2014, Tether has become the third-largest cryptocurrency platform in the w...
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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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AI-based voice cloning induces new scams
Vijay Balasubramaniyan, the CEO, CTO, and Co-founder of Pindrop Security, warns the world about a...
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FATF Discloses Outcomes of October Plenary Meeting
The international regulatory authority, Financial Action Task Force (FATF), concluded its fourth ...
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COVID-19 has Made Cybercrime More Structured
During the COVID-19 pandemic, there has been immense growth in the opportunities for cyber-relate...
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HEDA Calls for Professional Regulatory Bodies to Sanction Corruption Enablers
The Human and Environmental Development Agenda (HEDA), the leading civic society organization on ...
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Australia Lags Behind in Extending FATF’s AML/CFT Recommendations to DNFBPs
Australia is sending a signal to welcome global financial criminals for business in its lawyers, ...
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US Crypto Firms Reluctant Towards New KYC/AML Proposal by FinCEN
The US crypto firm, Coinbase, sent a letter to FinCEN with a clear message, “There is no emergenc...
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The UAE Central Bank Revokes Dirham Exchange’s Licence for AML Misconduct
Dirham Exchange, an exchange house based in the UAE, has had its licence revoked by The UAE Centr...
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US Officials Visit Iraq to Lessen Currency Crisis, Says Central Bank Governor
Iraq’s currency may get uplifted after the meeting between the US top treasury officer and the he...
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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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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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UN Warns of Money Laundering Risks Arising from Mekong Region Casinos
According to the U.N. Office on Drugs and Crime, the bond of China and Thailand with Myanmar is g...
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SMS Phishing Scams are Impersonating State Agencies – FTC Warns
FTC issues warning against SMS phishing attacks that are impersonating state workforce agencies t...
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UAE’s SCA Works on Virtual Asset Investment Regulations
The United Arab Emirates’ Securities and Commodities Authority (SCA) has said that it is ab...
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Pacific Financial Intelligence Unit Collaborates to Combat Money Laundering
The Financial Intelligence Unit of the Pacific region arranged the meeting last week to enhance t...
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Hackers Leak Stolen Patient Data After Ransomware Attack on Medibank
Medibank has warned its customers to be extra cautious after hackers started disclosing private m...
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The Age Verification Software Market to Experience Tremendous Growth by 2025
The increasing number of scams in today’s virtual world needs a better verification system. Prote...
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Betting and Gambling Council Host AML Training for Gambling Industry
During the Gambling Anti-Money Laundering Group (GAMLG) training day on September 6th, the Bettin...
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SRA Fines a Law Firm £14,000 for Breaching ID Verification Regulation
A business organization is being penalized £14,000 by the Solicitors Regulation Authority (SRA) f...
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New Crypto Regulations to be Followed by Korean Banks
South Korea is increasing cryptocurrency regulations by making KYC verification necessary along w...
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Australia to Ban Credit Cards for Online Gambling to Prevent Payment Fraud
The Australian government will soon ban online gambling with credit cards. The government will in...
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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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Southern District of New York Alleges Danske Bank against Serious AML Scandal
SDNY sentences Danske Bank with three years of probation on the tale of whistleblowing and mislea...
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Artist Sues AI Generators for Alleged Industrial-Level Identity Theft
Artist, Karla Ortiz, has sued two artificial intelligence firms for generating images that mimic ...
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UK Authorities Accuse Attorneys of Failure in Combating Financial Crimes
The UK regulatory authorities asserted that new data revealed prosecutors inadequately comply wit...
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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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SEC Orders Finance, Lending Companies to Submit AML Plans by 21 June
Philippine’s SEC has ordered all financing and lending companies to submit their plans for the im...
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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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Updated AML Regulation for Australian Digital Currency Exchange
The attorney-General proposed changes to AML/CTF frameworks in April 2023. The Australian Governm...
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N1m Fine Imposed on Financial Institutions for Suspicious Transactions Reporting Failing
A fine of N1m is directed by the Nigerian Government on any financial or non-financial institutio...
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Central Bank of Nigeria (CBN) Raises Concerns Over KYC and AML Protocols
The Central Bank of Nigeria (CBN) has intensified pressure on financial institutions (FIs) to imp...
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Europe Bolsters Fight Against Financial Crime with AMLA Formation
The European Parliament (EP) and European Union (EU) council teams have agreed to create the Euro...
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Money Laundering Scheme by Crime Gangs Focuses on Ireland
International criminal organisations are using millions of euros in legitimate products to mask s...
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Portuguese Banks Restrict Services for Crypto Exchanges, Citing Risky Grounds
Portuguese banks have restricted services of multiple crypto exchange firms operating in the coun...
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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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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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Financial Regulators in Uganda Demands Government to Set Crypto Regulations
Uganda’s financia regulators, Financial Intelligence Authority (FIA), want the government to take...
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FCA Imposed a $1.05M fine on Barclays Bank for “Oversight Failings”
The U.K. Financial Conduct Authority (FCA) on Monday revealed that it imposed a fine of 783,800 p...
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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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FinCEN Alerts FIs on Nationwide Surge in Check Fraud Targeting U.S Mail
The FinCEN (Financial Crime Enforcement Network) issues an alert to all the FIs (Financial Instit...
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US Launches First Criminal Prosecution for Alleged Cryptocurrency Sanctions Case
Criminal charges are issued by the US Justice Department for the first time for transmitting more...
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Malta Claps Back To Allegations Of “Lax Crypto Oversight”
A business unit within Malta’s Chamber of Commerce has shut down all accusations that state that ...
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FinTech and InsureTech Booms in Israel as $120M Raised for Investments
FinTLV, a fund based in Tel Aviv, has announced that it has collected $120 million worth of funds...
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Sri Lankan AMLO Fines a Bank and Two Finance Firms for Non-Compliance
Approximately two million rupees worth of fines were imposed on three financial institutions in S...
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Australia, Singapore, Malaysia, and RSA Team Up for CBDC Trials
Central banking entities of Singapore, Australia, Malaysia, and South Africa agree on a mutual ag...
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President Biden Takes the Reins with Halting Digital Assets’ Rule Making
Regulatory proposal regarding digital assets has been frozen by President Joe Biden. Biden took h...
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Canada loses millions in online scams
According to CBC News, 6492 incidents of fraud were reported to Edmonton Police last year, result...
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European Banking Authority Publishes Final Guidelines on Remote Customer Onboarding
The European Banking Authority (EBA) has issued its final policies on remote customer onboarding ...
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FACT Urges Treasury to Implement Landmark Corporate Transparency Act
FACT has urged the treasury department to impose crucial changes to draft regulations and impleme...
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Estonian Cryptocurrency Exchange charged for concealing hack
Crex24, an Estonian cryptocurrency exchange, is accused of hiding a hack from its customers after...
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Canadian financial watchdog geared up for FATF compliance
The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) plans on closely regul...
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Payment Companies Suggest Best Practices To Stay Away From Bank Shutouts
Payment companies have proposed a set of best practices to avoid bank shutouts by protecting the ...
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Banks warned against profiteering from UK coronavirus crisis
British institutions, including banks, have been urged to avoid profiteering from the Coronavirus...
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UK Publishes First National Risk Assessment of Proliferation Financing
The UK is at a high risk of proliferation financing for Korea and Iran, while UK financial instit...
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AFP Investigates Money Laundering Tactics Employed by Criminals in 2021
The Australian Federal Police is highlighting the hidden channels used by money launderers in 202...
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Philippine Plans to Introduce New Regulations on Beneficial Ownership
The Securities and Exchange Commission in Philippine has laid out new regulations that require tr...
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Five Kenyan banks fined under AML laws
Five commercial banks were imposed a fine of $3.75 million in Kenya for failing to report suspici...
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Australia, Singapore, Malaysia, and RSA Team Up for CBDC Trials
Central banking entities of Singapore, Australia, Malaysia, and South Africa agree on a mutual ag...
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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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UAE Authorities to Coordinate Efforts Against ML/TF Among NPOs
The UAE’s Ministry of Community Development and the Financial Intelligence Unit have established ...
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New White House Standards Strategy May Affect Crypto Industry KYC Regulations
President Biden’s administration unveiled a national standards strategy on May 4, outlining eight...
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IRS And Foreign Tax Enforcers Warn of Increasing Money Laundering Risks in NFTs
The IRS and foreign tax enforcers have issued a warning of the increasing risks of money launderi...
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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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Brazilian Police Confiscates $33 M in Crypto Money Laundering Probe
Brazilian authorities have seized R$172 million from an investigation carried out into money laun...
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Better Business Bureau of North America Warns of Increased Scams & Fraud
On April 11, Marilyn Mott, director of the Better Business Bureau’s Prescott office, addressed a ...
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Financial Inclusion Group Proposes User-centric Digital ID, Biometric KYC Policy Model
According to the AFI model, digital IDs and biometric KYC verification must be deployed by busine...
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Philippines Directs Efforts & Demonstrates Progress in Resolving AML Concerns
The Asia Pacific Group on Money Laundering (APG) has raised the Philippines’ rating from pa...
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Taiwan Initiates Industry Association to Regulate Cryptocurrency Sector
Nine crypto exchange platforms formed a group to create an industry association to regulate Taiwa...
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