The Top 10  Most Difficult Countries for Identity Verification

The Top 10  Most Difficult Countries for Identity Verification

Download Report

    n-img-roi-cross

    Before You Go, Schedule Your Free Demo Today

    Valid Invalid number


    Note: Fields marked with an asterisk(*) are mandatory.

    n-exit-img-roi-cross

    Thank you for your demo request

    We appreciate your interest and look forward to discussing how our solution can meet your needs. Expect to hear from us shortly with scheduling details.

    Close

    us

    52.167.144.24

    FCA Unveils Three-Year Anti-Money Laundering Strategy to Curb Financial Crime

    fca unveils

    The FCA unveiled in its new report a three-year anti-money laundering strategy which includes a number of plans to mitigate fraud, sanctions evasion, and money laundering.

    The new report sheds light on the FCA’s strategy for the years 2022 to 2025. A number of commitments and plans to tackle money laundering, terrorist financing, and sanctions evasion are included in the report.

    The FCA has demonstrated its commitment to actively supervising and closely scrutinizing firms at the authorization gateway so that they meet the AML standards before they are allowed to operate. The authority will also continue to monitor social media for suspicious advertising which may indicate fraud, and continue its work to eliminate illegal advertising.

    Furthermore, the FCA recognizes the role of cryptocurrency in money laundering in the UK and states that it will supervise crypto-asset providers’ compliance with Anti-Money Laundering Regulations, and intervene where crypto-asset firms are at risk of being used as vehicles for illicit financing, or where firms pose threats to customers or market integrity.

    The FCA revealed that it is increasingly ‘data-led’, particularly when it comes to systems and controls, and is able to detect financial crime faster, disrupt and pursue firms and individuals, and remove FCA-regulated fraudsters from the financial system more effectively. 

    They will also continue to prosecute money laundering and fraud where possible and work closely with its partners to drive a system-wide response to stop and prevent financial crime.

    Speaking on this new commitment, regulation industry expert, Dr. Henry Balani, Global Head of Industry & Regulatory Affairs for Encompass Corporation, comments: “Financial crime in the UK is surging exponentially. Whilst it’s positive to see the FCA ramping up the pressure against money launderers and fraudsters, there is no doubt that more must be done to put a significant dent in the dirty money that is channelled through the UK.

    “The regulatory landscape is constantly evolving, with sanctions against Russian assets being the latest issue that banks must address. Tackling financial crime requires a concerted effort from all factions in the system – from the regulator to the business, firm or individual.”

    Suggested read: EU Freezes $130 Million Worth of Assets Linked to Money Laundering in Lebanon

    Related Posts

    News

    Japan’s Airports Run Face Verification Trials for Passenger Onboarding

    Tokyo’s Narita airport is running trials for a face recognition system for international travelle...

    Japan’s Airports Run Face Verification Trials for Passenger Onboarding Explore More

    News

    AMLC Downgrades Terror Financing Risks in the Philippines From High to Medium-High

    According to the anti-money laundering council, the Philippines’ terrorist and terrorism fi...

    AMLC Downgrades Terror Financing Risks in the Philippines From High to Medium-High Explore More

    News

    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...

    UK Finance Sector and Police Stopped £32m Fraud in First Half of 2021 Explore More

    News

    Star Entertainment Group Experiences $1.26B Loss after Money Laundering Investigation

    Star Entertainment Group experienced a major loss of $1.26 billion during the first half of 2023,...

    Star Entertainment Group Experiences $1.26B Loss after Money Laundering Investigation Explore More

    News

    ECB Will Be Launching Digital Euro Project

    An electronic equivalent of banknotes and coins, the digital euro will likely be a digital wallet...

    ECB Will Be Launching Digital Euro Project Explore More

    News

    New Jersey Hospital System Hit By a Ransomware Attack

    One of the largest hospital systems of New Jersey has reported that it was hit by a ransomware at...

    New Jersey Hospital System Hit By a Ransomware Attack Explore More

    News

    Canada’s Real Estate a Safe Haven for Money Laundering, Confirms Intel

    Intel has confirmed the findings of CISC’s report saying that Canadian real estate is a safe have...

    Canada’s Real Estate a Safe Haven for Money Laundering, Confirms Intel Explore More

    News

    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 ...

    Cambridge University Hospital Breach Exposes Data of Cancer and Pregnancy Patients Explore More

    News

    Florida Man Charged $784 Million in Massive Healthcare Fraud

    Creaghan Harry, a man from Florida was indicted of $784 million for committing healthcare fraud a...

    Florida Man Charged $784 Million in Massive Healthcare Fraud Explore More

    News

    Beware of Puppy Scams This Holiday Season – BBB

    The Better Business Bureau (BBB) has warned people to be cautious of online puppy scams, especial...

    Beware of Puppy Scams This Holiday Season – BBB Explore More

    News

    FCA Cracks Down on Various Operators Hosting Illegal Crypto Cash Machines Around Leed

    The FCA (Financial Conduct Authority) suspects many sites around Leeds of hosting illegally opera...

    FCA Cracks Down on Various Operators Hosting Illegal Crypto Cash Machines Around Leed Explore More

    News

    Guyana Holds US-Sponsored Conference to Examine Asset Recovery and Money Laundering Issues

    The Judiciary of Guyana organised a two-day conference in collaboration with the US Department of...

    Guyana Holds US-Sponsored Conference to Examine Asset Recovery and Money Laundering Issues Explore More

    News

    HM Treasury Consults UK Government on AML Supervision Reforms

    HM Treasury announced that a consultation would be conducted concerning AML/CFT supervision refor...

    HM Treasury Consults UK Government on AML Supervision Reforms Explore More

    News

    UAE Imposes Dh65 Million Worth of AML Fines on 137 Companies

    After examining 840 companies, 137 companies failed to comply with anti-money laundering and comb...

    UAE Imposes Dh65 Million Worth of AML Fines on 137 Companies Explore More

    News

    Zoom improves user security by incorporating 2FA for all users

    Zoom confirmed adding 2-factor authentication (2FA) for all the users of the platform. This marks...

    Zoom improves user security by incorporating 2FA for all users Explore More

    News

    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...

    FCA Alerts Crypto Firms to prepare for Advertising Rule Change Explore More

    News

    Shufti Crosses One More Milestone With Its New Ukraine Office

    May 2021 – As part of our plan for global expansion, Shufti is thrilled to announce the...

    Shufti Crosses One More Milestone With Its New Ukraine Office Explore More

    News

    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...

    EU’s decision to ban Facial Recognition for five years divides the tech giants Explore More

    News

    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...

    UK Government to Introduce Age Verification Laws For Adult Websites Explore More

    News

    US DOJ Files Cases to Stop Russian Money Laundering Networks

    The US DOJ (Department of Justice) filed two cases in the latest action to disrupt money launderi...

    US DOJ Files Cases to Stop Russian Money Laundering Networks Explore More

    News

    Two of Singapore’s Banking Giants Involved in Billion-Dollar Money Laundering Case

    The two well-known banks in Singapore, Development Bank Singapore (DBS) and Overseas Chinese Bank...

    Two of Singapore’s Banking Giants Involved in Billion-Dollar Money Laundering Case Explore More

    News

    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...

    Ransomeware gang demands $42M or it releases Trumps ‘Dirty Laundry’ Explore More

    News

    Property Brokers in New Zealand Given Official Warning over AML/CFT Compliance

    An eighty-branch real estate agency in New Zealand, Property Brokers, has received their first fo...

    Property Brokers in New Zealand Given Official Warning over AML/CFT Compliance Explore More

    News

    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...

    US Regulators Worried about the Rise in Synthetic Identity Fraud Explore More

    News

    U.S States Open up to the Idea of Digital IDs in Post Pandemic World

    The ID cards that were used by millions of people as proof of their identity may soon become a th...

    U.S States Open up to the Idea of Digital IDs in Post Pandemic World Explore More

    News

    Japan’s Self-Regulatory Crypto System Gets Warned of Delays in AML Rules

    Japan’s JVCEA has been warned by the Financial Services Agency of the delays in the introduction ...

    Japan’s Self-Regulatory Crypto System Gets Warned of Delays in AML Rules Explore More

    News

    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...

    ICC Qatar is going to have a seminar on money laundering and terrorist financing Explore More

    News

    11 Arrested for the First Money Laundering Case Using Digital Yuan

    Chinese security officials have arrested 11 suspects in the first Central Bank Digital Currency (...

    11 Arrested for the First Money Laundering Case Using Digital Yuan Explore More

    News

    Guyana plans Amending Anti-Money Laundering Legislation

    The government of Guyana is looking to amend the AML/CFT legislation in the National Assembly to ...

    Guyana plans Amending Anti-Money Laundering Legislation Explore More

    News

    Zoom improves user security by incorporating 2FA for all users

    Zoom confirmed adding 2-factor authentication (2FA) for all the users of the platform. This marks...

    Zoom improves user security by incorporating 2FA for all users Explore More

    News

    Philippines Extends Registration Period for Amended AML Regulations

    The Anti-Money Laundering Council in the Philippines has revisited the guidelines of the Anti-mon...

    Philippines Extends Registration Period for Amended AML Regulations Explore More

    News

    FinCEN May Release a YouTube Video to Outreach Latest BOI Rules

    The Financial Crimes Enforcement Network (FinCEN) director stated they are creating awareness cam...

    FinCEN May Release a YouTube Video to Outreach Latest BOI Rules Explore More

    News

    EU Strengthens Capacity of CSOs to Combat Money Laundering & Improve Governance

    The European Union (EU) is working on boosting the capacity of more than 200 Civil Society Organi...

    EU Strengthens Capacity of CSOs to Combat Money Laundering & Improve Governance Explore More

    News

    OSCE – Eurasian Forum Combines to Counter Money Laundering and Terrorism Financing

    The Organisation for Security and Co-operation in Europe (OSCE) supported the joint efforts with ...

    OSCE – Eurasian Forum Combines to Counter Money Laundering and Terrorism Financing Explore More

    News

    Uganda at Risk of Getting Blacklisted by FATF Unless it Addresses 16 Issues

    Uganda is facing the risk of being added to a global blacklist for money laundering and terrorism...

    Uganda at Risk of Getting Blacklisted by FATF Unless it Addresses 16 Issues Explore More

    News

    US Imposes Sanctions on Russian-backed Iranian Oil Smuggling & Money Laundering Network

    The US has imposed sanctions on a Russian-backed oil smuggling and money laundering network for I...

    US Imposes Sanctions on Russian-backed Iranian Oil Smuggling & Money Laundering Network Explore More

    News

    UAE Convenes Summit on Curbing Money Laundering and Terrorism Financing

    The UAE convened an international summit on money laundering and terrorist financing prevention i...

    UAE Convenes Summit on Curbing Money Laundering and Terrorism Financing Explore More

    News

    Non-Compliant Banks Can End Up In FATF’s Gray list – Warns Governor of the South African Reserve Bank

    Lesetja Kganyago, Governor SARB confirms to the Parliament’s standing committee about the i...

    Non-Compliant Banks Can End Up In FATF’s Gray list – Warns Governor of the South African Reserve Bank Explore More

    News

    IRS Criminal Investigation Uncovers Approx. $10 Billion Worth of FinCrime

    IRS-CI FY 2021 highlighted $2.19 billion in tax fraud, $8.18 billion in financial crimes, 1497 wa...

    IRS Criminal Investigation Uncovers Approx. $10 Billion Worth of FinCrime Explore More

    News

    UKGC imposed EUR 3.8 Million Fine on Genesis Global for Social Responsibility and Money Laundering Violations

    After the two-year investigation, the United Kingdom Gambling Commission (UKGC) imposed EUR 3.8 m...

    UKGC imposed EUR 3.8 Million Fine on Genesis Global for Social Responsibility and Money Laundering Violations Explore More

    News

    Taiwan and Singapore Strengthen AML Regulations for Virtual Asset Providers and Banks

    Taiwan and Singapore enhance Anti-Money Laundering (AML) regulations for virtual asset service pr...

    Taiwan and Singapore Strengthen AML Regulations for Virtual Asset Providers and Banks Explore More

    News

    Phishing attacks hidden in Google Cloud Services

    Cybercriminals are concealing phishing efforts behind legitimate resources like google cloud serv...

    Phishing attacks hidden in Google Cloud Services Explore More

    News

    COJ Organizes Anti-Money Laundering Unit to Meet FATF Standards

    The Companies Office of Jamaica (COJ) has established an AML and CFT unit to comply with FATF req...

    COJ Organizes Anti-Money Laundering Unit to Meet FATF Standards Explore More

    News

    Business Email Compromise Scam Taking a Toll on Businesses

    BEC, Business Email Compromise scams are on the rise and they continue to impact businesses. Ther...

    Business Email Compromise Scam Taking a Toll on Businesses Explore More

    News

    FATF Removes Cayman Islands and Panama From Increased AML Monitoring List

    In the last plenary meeting of the Financial Action Task Force (FATF) on October 27th, the Cayman...

    FATF Removes Cayman Islands and Panama From Increased AML Monitoring List Explore More

    News

    Indonesia Becomes Member of International Watchdog, FATF

    The international money laundering watchdog, FATF, includes Indonesia as its member state, in a g...

    Indonesia Becomes Member of International Watchdog, FATF Explore More

    News

    AUSTRAC, Home Affairs Say Tech Capability Not There Yet for Crypto Travel Rule

    While it is understood that the crypto Travel Rule will prove to be a ‘game changer’,...

    AUSTRAC, Home Affairs Say Tech Capability Not There Yet for Crypto Travel Rule Explore More

    News

    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...

    Liberian Ministers Allegedly Laundering Money Using Foreign Lobbying Contracts, Investigation Reveals Explore More

    News

    UAE Freezes Assets of Irish Crime Syndicate for Laundering Money Through Dubai

    The UAE has frozen the assets of Ireland’s Kinahan Crime Syndicate, mounting the pressure on an o...

    UAE Freezes Assets of Irish Crime Syndicate for Laundering Money Through Dubai Explore More

    News

    Monetary System of Nation-States at Systematic Risk due to Stablecoins, Says FSB

    With the introduction of global stablecoin like Facebook’s Libra, G20’s watchdog, the Financial S...

    Monetary System of Nation-States at Systematic Risk due to Stablecoins, Says FSB Explore More

    News

    Bipartisan Senators Propose Amendment of the National Defense Authorization Act to Prevent Crypto Money Laundering

    Bipartisan lawmakers in the US amended the obligations of anti-money laundering and updated the N...

    Bipartisan Senators Propose Amendment of the National Defense Authorization Act to Prevent Crypto Money Laundering Explore More

    News

    Cambodia’s Presence on The Global Watchdog’s Hit List is a Threat to Country’s Reputation- States Deputy PM

    Due to the enhanced ratio of financial crimes and human trafficking in Cambodia, the deputy prime...

    Cambodia’s Presence on The Global Watchdog’s Hit List is a Threat to Country’s Reputation- States Deputy PM Explore More

    News

    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 ...

    Payment Companies Suggest Best Practices To Stay Away From Bank Shutouts Explore More

    News

    Californian man apprehended in Moorpark ID theft case

    A 37-year-old man in the Californian city of Bakersfield was arrested on Wednesday on suspicion o...

    Californian man apprehended in Moorpark ID theft case Explore More

    News

    Cryptocurrencies marked as top AML and CFT Priority by FinCEN

    FinCEN will soon be publishing regulations on how financial institutions can incorporate cryptocu...

    Cryptocurrencies marked as top AML and CFT Priority by FinCEN Explore More

    News

    Council of Europe Urges Montenegro to Step Up AML Measures

    The Council of Europe stated in a recent report that Montenegro lacks sufficient measures to inve...

    Council of Europe Urges Montenegro to Step Up AML Measures Explore More

    News

    Cyberattack Prompts Dallas Firefighter and Police Associations to Demand Identity Theft Protection

    It has been three weeks since Dallas’ operations were affected by a municipal network outage. Som...

    Cyberattack Prompts Dallas Firefighter and Police Associations to Demand Identity Theft Protection Explore More

    News

    Cyberhack Discloses Data on Over 600,000 Medicare Beneficiaries

    A data breach in May 2023 exposed the personal information of 612,000 Medicare beneficiaries, inc...

    Cyberhack Discloses Data on Over 600,000 Medicare Beneficiaries Explore More

    News

    UK Approves New Age Verification Laws to Protect Children

    The UK government approved the “Online Safety Bill,” which contains measures to protect children ...

    UK Approves New Age Verification Laws to Protect Children Explore More

    News

    EU Endorses New Crypto Tax Data Sharing Rules

    Strict obligations are set to be implemented in the EU’s digital assets industry. Tax authorities...

    EU Endorses New Crypto Tax Data Sharing Rules Explore More

    News

    Google Pay Transactions Just Got More Secure

    Previously, when you used Google Pay for transactions, it would only ask you to enter your PIN. A...

    Google Pay Transactions Just Got More Secure Explore More

    News

    US Army to Adopt Facial Recognition Technology for Securing Military Base

    United States Army is looking to apply face recognition technology on their military base to imme...

    US Army to Adopt Facial Recognition Technology for Securing Military Base Explore More

    News

    Atomic Wallet Hack Results in $35 Million Loss as Investigation Continues

    Atomic Wallet users have reported losing millions of dollars worth of cryptocurrency. It was anno...

    Atomic Wallet Hack Results in $35 Million Loss as Investigation Continues Explore More

    News

    EU Sets a New Limit on Cash Transactions to Curb Financial Crimes

    The EU countries have signed an agreement according to which the crypto-service providers must co...

    EU Sets a New Limit on Cash Transactions to Curb Financial Crimes Explore More

    News

    “Lack of Face-to-Face Verification is a Risk for FIs”, Reported MAS & ABS

    Monetary Authority of Singapore (MAS) and the Association of Banks in Singapore (BAS) have publis...

    “Lack of Face-to-Face Verification is a Risk for FIs”, Reported MAS & ABS Explore More

    News

    DC lawyers can now accept crypto for legal fees

    According to a report by Bloomberg Law, cryptocurrency can now be used to pay for legal services ...

    DC lawyers can now accept crypto for legal fees Explore More

    News

    US Senator Joe Manchin Introduces Digital Asset Anti-Money Laundering Act to Curb Unauthorised Crypto Flow

    US Senator Joe Manchin, along with Senators Roger Marshall, Lindsy Graham, and Elizabeth Warren, ...

    US Senator Joe Manchin Introduces Digital Asset Anti-Money Laundering Act to Curb Unauthorised Crypto Flow Explore More

    News

    Pandora Papers Highlight ‘Gatekeepers’ of Black Money, says EU Financial Watchdog

    The new report of MONEYVAL offers a diminishing rebuke across European governments that are unabl...

    Pandora Papers Highlight ‘Gatekeepers’ of Black Money, says EU Financial Watchdog Explore More

    News

    Real Estate Firm LeHomes Realty Fined $282K for AML Compliance Failure

    Real Estate Firm LeHomes Realty has been fined $282K for AML compliance failure. The brokerage co...

    Real Estate Firm LeHomes Realty Fined $282K for AML Compliance Failure Explore More

    News

    U.S States Open up to the Idea of Digital IDs in Post Pandemic World

    The ID cards that were used by millions of people as proof of their identity may soon become a th...

    U.S States Open up to the Idea of Digital IDs in Post Pandemic World Explore More

    News

    Binance Resorts to Shady Crypto Firms as Authorised Options Run Short

    Binance, the global crypto exchange leader, retract to shady asset companies as authorised option...

    Binance Resorts to Shady Crypto Firms as Authorised Options Run Short Explore More

    News

    Bermuda Monetary Authority Tightens AML Control as Threat of Money Laundering Increases

    Bermuda Island was rated high in the 2020 Money Laundering and Terrorist Financing Risk Assessmen...

    Bermuda Monetary Authority Tightens AML Control as Threat of Money Laundering Increases Explore More

    Take the next steps to better security.

    Contact us

    Get in touch with our experts. We'll help you find the perfect solution for your compliance and security needs.

    Contact us

    Request demo

    Get free access to our platform and try our products today.

    Get started