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India to Impose $2.65M Fine and Jail for Violating Cryptocurrency Bill
India’s financial watchdog has proposed a new crypto bill to impose a $2.65M fine and jail for vi...
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Saudi Arabia Permits 9 FinTech Companies to Operate in Regulatory Sandbox
The Saudi Arabian Monetary Authority (SAMA) announced that it has allowed nine more FinTech firms...
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Founders of BitMEX Penalised for Their Inefficacy in Preventing Money Laundering
Arthur Hayes, Benjamin, Delo, and Samuel Reed – the co-founders of BitMEX charged for viola...
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UK to Set up CBDC Taskforce to Analyze the Possibility of ‘Britcoin’
The Bank of England along with the British Government plans to set up a task force to create digi...
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Court Dismisses Appeal in New Zealand’s First Criminal Prosecution Under AML/CFT Act
Court of Appeal dismisses an appeal on 1st July against New Zealand’s first criminal prosecution ...
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Bank of England fines Citigroup £44m Over Poor Financial Information
The Bank of England has fined the UK branch of the US bank, Citigroup, a record £44m because the ...
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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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Austria- The Growing Hub of Cryptocurrency Approves 18 Operating License
Financial Supervisory Authority like FMA of Austria received requests from forty digital asset pr...
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American Law Firms Building Class Suits against HSBC and Standard Chartered for Money Laundering
Labaton Sucharow and Schall Law have a record of pursuing legal claims against listed organizatio...
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AUSTRAC Hits Military Bank with Enforcement Action to Ensure AML Compliance
The financial regulator in Australia has hit the Australian Military Bank with implementation act...
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Bitcoin scam exposes thousands to a data breach
Fraud websites have successfully stolen the personal records of a number of individuals from the ...
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MBSB Bank to Implement BNM’s Requirements for Combating Financial Crimes
Bank Negara Malaysia announced additional security measures for financial institutions to strengt...
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FATF warns Turkey over Lapses in Money Laundering and Terror Financing
Turkey has been warned by Financial Action Taskforce (FATF) because of its ‘serious shortcomings’...
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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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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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Transparency International Declares South Sudan Second Most Corrupt Country
In the East African region, South Sudan has been ranked as the most corrupt country in the world....
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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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CBN Introduces New Anti-Money Laundering Rules for Microfinance Banks
The Central Bank of Nigeria has issued a guidance note that is aimed to prevent money laundering ...
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UK FCA Orders Illegal Crypto Service Providers to Shut Down ATMs
The UK’s Financial Conduct Authority has ordered crypto firms operating illegally in the country ...
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Ransomware Targets Outdated Microsoft Excel Macros to Deploy Attacks
Microsoft Security Intelligence notified users of a type of ransomware, called Avaddon, that uses...
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Binance Pulls Out its Rival Exchange Huobi from Money Laundering Attempt
Binance helped its rival crypto exchange, Huobi Global, recover the amount taken in a bridge expl...
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SEC Updates Regulatory Disclosures for Chinese Issuers Amid Crackdown
Chinese businesses, as per a ruling by the SEC, are directed to present additional disclosures re...
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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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LifeLabs Hit By a Data Breach Affecting Personal Information of 15 Million People
Canadian laboratory testing company, LifeLabs, disclosed on Tuesday that it had been a victim of ...
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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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Elon Musk proposes regulations on artificial intelligence
”Organizations developing artificial intelligence must be regulated”, says Elon Musk. This is not...
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The Philippines Introduces Crypto Guidelines Against Financial Crimes
The Philippines Monetary Board (MB) has approved the guidelines regarding the virtual assets serv...
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New Guidelines for Workers Will Deter Fraud in Nigeria’s Financial Sector – Says ASSBIFI
As per the Association of Senior Staff of Banks, Insurance, and Financial Institutions (ASSBIFI),...
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EBA revised its guidelines on ML/FT risk factors
The European Banking Authority (EBA) issued revised money laundering and terrorist funding (ML/TF...
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Liberian Ministers Allegedly Laundering Money Using Foreign Lobbying Contracts, Investigation Reveals
Liberia, one of the poorest countries in the world, is said to spend an enormous and highly suspi...
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Japan to Form Specialized AML/CFT Team in Response to FATF Review
Japan has been advised by the FATF to enhance cross-agency coordination and overcome barriers of ...
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Court Convicts Defendant of Defalcation of Public Funds in Abu Dhabi
A defendant was convicted of money laundering and tax evasion by Abu Dhabi Criminal Court and sen...
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2 Men & 5 Companies to Face Trial for €20 Million Money Laundering Case
A magistrate has found substantial evidence of two Libyan men and five companies involved in laun...
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CBR to Restrict Crypto-Related Transactions to Prevent Financial Crime
The Central Bank of Russia is limiting ways for cryptocurrency investments including blocking pay...
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Asia/Pacific Group on Money Laundering Releases 2021 Typologies Report
The report has highlighted areas of high priority that need further study and the risks associate...
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CBUAE Revokes Dollar Exchange’s Licence over Regulatory Misconduct
The UAE Central Bank has revoked the licence of a dollar exchange house after it failed to keep a...
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EU’s decision to ban Facial Recognition for five years divides the tech giants
Facial recognition is emerging as a conflicting technology causing key disagreement among the wor...
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Real Estate is Becoming a Primary Target for Money Launderers in the UK
According to a government report, Luxury London homes are a new method to launder illicit funds. ...
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Foxconn Becomes the Victim of Ransomware Attack
A ransomware attack has impacted an electronic manufacturer, Foxconn, very badly. This attack was...
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MAS Ramps Up Efforts Against Financial Crimes With the Help of Data Analytics
Singapore’s central bank has revealed in a report on Wednesday that financial criminals will be p...
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Regulators Seize First Republic Bank and Sell a Portion of Assets to JPMorgan
Regulators seized First Republic Bank and sold a portion of its assets to JPMorgan Chase. This is...
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Nigeria Employs New BOR Initiative to be Removed from FATF’s Gray List
A Beneficial Ownership Register (BOR) has been inaugurated by the Corporate Affairs Commission (C...
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Members of Spalding Club Charged for Money Laundering Through Investment Scheme
Lincolnshire police reported suspected fraud cases in connection with a trading-based investment ...
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Twitter Breach – Bitcoin Scams to the Next Level
A massive attack is reported on Twitter accounts of high-profile and well-recognized brands. Hack...
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Barclays Prohibits UK Clients from Sending Debit and Credit Payments to Binance
Barclays has stopped UK customers from transferring funds to Binance after the Financial Conduct ...
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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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London has been Dubbed as a Money Laundering Base
The UK’s capital has been dubbed as a potential hotbed for organised crime, especially after Brex...
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Money Laundering Cases Doubled in the Past Six Years – Eurojust Report
Eurojust has recorded around 3000 cases of cross-border money laundering over the last six years....
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IRS Deploys Effective Filters to Detect and Prevent Tax Evasion
The Treasury Inspector General for Tax Administration released an interim filing season report on...
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EU to Investigate Google and Facebook’s Data Collection Practices
The European Union has begun preliminary investigations into the data collection practices of Goo...
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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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MFSA Tightens Financial Regulations for Lawyers, Auditors, and Accountants
Professionals in Malta, lawyers, accountants, and auditors, etc. are resisting the new rules that...
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American Law Firms Building Class Suits against HSBC and Standard Chartered for Money Laundering
Labaton Sucharow and Schall Law have a record of pursuing legal claims against listed organizatio...
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UAE Confiscates Dh4.73 Bn Worth of Assets in Fight Against Financial Crimes
In the past 12 months, the United Arab Emirates has seized assets worth Dh4.73 billion ($1.29bn) ...
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Video KYC: The New Normal in the Insurance Industry
Since everything is moving to digital platforms, the Insurance Regulatory and Development Authori...
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NYDFS Reminds BitLicense Holders to Follow Rules
NYDFS (New York Department of Financial Service) has restated custody and disclosure requirements...
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UK Fraud Agency Warns Money Launderers are Targeting Under-21s
Cifas recently reported an economic downturn allows fraudsters to target young people, under 21, ...
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BSP Warns Banks Against Auto Loan Fraud
According to BSP, organized crime groups are using fake identities to sell vehicles under fake li...
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OCC, FDIC, & Fed Warn Banks of Significant Risks in the Crypto Industry
Three US banking regulators, the Federal Reserve (Fed), Office of the Comptroller of the Currency...
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Despite KYC, Dutch Central Bank Struggles over Crypto Ownership Records
Despite the strict measures for KYC requirements, the Central Bank of the Netherlands is still mu...
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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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Canada Faces 400% Increase in the Cryptocurrency Fraud
The Canadian police department is warning people to protect their personal information and perfor...
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Deutsche Bank Pays $130M to Avoid Corrupt Payment Charges
Deutsche Bank, a German investment bank, has agreed to pay the fine of $130 million to settle the...
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US Treasury Publishes National Risk Assessments for Financial Crimes
The US Treasury has published the 2022 National Risk Assessments (NRAs) on Money Laundering (NMLR...
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Brazil to Become a Part of OECD and Plans to Launch IPO for Its Digital Bank
During a virtual event on Tuesday, Paulo Guedes, Brazil’s Minister of Economy, announced that the...
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Pakistan’s State Bank unveils new AML/CFT regulations for Forex Firms
State Bank of Pakistan on Tuesday amended Anti-money laundering (AML) and Counter Financing of te...
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Ransomeware gang demands $42M or it releases Trumps ‘Dirty Laundry’
A ransomware gang stole about 1TB of legal secrets from the most important names in the entertain...
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Peru Set Rules For Virtual Assets Platforms Under Anti-Money Laundering Regime
The Peruvian government ordered virtual assets service providers to report their activities to th...
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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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Elon Musk proposes regulations on artificial intelligence
”Organizations developing artificial intelligence must be regulated”, says Elon Musk. This is not...
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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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UK to End “Golden Visa” Regime to Tackle Money Laundering
The UK is looking to scrap its so-called “Golden Visa” regime in a short period as Russian action...
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