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The FATF Gives The Philippines 2-3 Months to Address Remaining Deficiencies
Chuchi G. Fonacier, Deputy Governor of the BSP, said 4 of the 8 remaining Financial Action Task F...
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Action Fraud alerts shoppers about COVID-19 scams
Retail stores and other non-essential shops are recommencing across the United Kingdom, but many ...
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ACCC Calls for Heavy Penalties to Make Tech Giants Scam-free
The Australian Competition and Consumer Commission (ACCC) has demanded severe penalties linked to...
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Anti-Fraud Experts Advise the CBN to Reconsider its Decision to Ban Crypto
One year after the Central Bank Nigeria (CBN), imposed a ban on digital currencies, anti-fraud ex...
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AMLC Reports Steady Rise in Phishing and Hacking Attacks in the Philippines
The Anti Money Laundering Council (AMLC) has reported a steady rise in phishing and hacking attac...
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Canada Financial Crimes Agency Questioned on Effectiveness of Anti-Fraud Measures
Anti-fraud experts are reporting concerns regarding the Liberals’ newly announced Canada Financia...
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Canadian Anti-Money Laundering Agency Fines RBC $7.4M
Canada’s anti-money laundering regulatory body imposed a C$7.4 million penalty on the Royal Bank ...
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UAE Strengthens AML Measures to Bolster Virtual Asset Framework
The UAE’s anti-money laundering and counter-terrorism financing department stated it continues bo...
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European Parliament Members Adopt New Recommendations to fight Tax Fraud and Money Laundering
The parliament members adopted a comprehensive set of regulations stemming from the previous reco...
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UK’s Revised Fraud Policy Criticised for Ineffectiveness Against Rising Crimes
On Wednesday, Britain announced its strategy for reducing fraud by 10% by the end of the current ...
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“Walk the Talk” – RUSI Calls On FATF to Promote Financial Inclusion
RUSI has called out the FATF for not actively promoting financial inclusion as part of its primar...
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NAB Chief Urges Government to Reconsider Fines for Large Data Breaches
The Chief of NAB Ross McEwan has urged the government that penalties for data breaches charged as...
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EU Parliament to Consider Black-Listing Switzerland After Credit Suisse Leaks
The European Parliament’s main political group called for a review of Switzerland’s banking pract...
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FATF Issues New BO Requirements to Address Pandora Papers
While addressing the Pandora Papers, the Paris-based global financial watchdog, FATF, has issued ...
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United States Senate, UAE Government, and Spain Make Significant Efforts to Curb Money Laundering and Terrorist Financing Activities
United States Senate, UAE Government, and Spain Take effective measures to amend current Anti-Mon...
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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...
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US Government Announces Reward for Identifying Sanctioned Russian Assets
The US government has announced financial rewards of up to $5 million for information leading to ...
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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...
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Wealthy Americans Targeted by U.S. in Panama Tax-fraud Probe
Financial authorities in the US obtained a legal mandate to acquire information about wealthy cit...
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London’s Mayor Assures of the Strong Regulations Despite Brexit
Bankers in the UK are looking towards the leniency in regulations and tax cuts due to Brexit. How...
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Ontarians Lost More than $118M to ‘Grandparent Scam’ in 2022, Reports
‘Grandparent scam’ cost Ontario residents more than $118 million. Scammers call elderly people an...
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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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Client Sues Credit Suisse for Losing $607 Million in Fraud Scheme
A Georgian billionaire, Bidzina Ivanishvili, has sued the Swiss bank, Credit Suisse over a Fraud ...
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Feds Bust Columbian Drug Cartel’s Scheme to Launder “Millions” Through US Banks
A Columbian drug cartel’s scheme was busted by the federal prosecutors who moved millions through...
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US Set to Disclose New Real Estate Regulations to Combat Money Laundering
The US Treasury Department is ready to introduce rigid regulations to close security loopholes in...
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$320 Million Worth of Cryptocurrency Stolen in Wormhole Hack
A recent hack on one of the most popular blockchain bridges linking Ethereum and Solana led to th...
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Shufti Relocates its London Office to Facilitate the Company Growth
March 2021, Shufti is pleased to announce the relocation of its London office to a larger and...
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Singapore replaces passwords and ID documents with facial recognition systems
As reported by Strait Times, Singapore plans to replace passwords and identity documents with bio...
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AMLA Adds New Protections and Financial Incentives for US Whistleblowers
Anti Money Laundering Act 2020, has amended the recently enacted AML whistleblower improvement ac...
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Central Bank of China Issues Warning of DC/EP Fraud
China’s Central bank, the People’s Bank of China along with two other regulatory authorities has ...
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Hackers Steal $625 Million from Ronin Network in Largest-Ever Crypto Theft
Hackers stole approximately $625 million in crypto from the Ronin blockchain and the video game n...
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FIU Imposes a Fine of L$21 Million on Insurance Companies for AML Failings
The Liberian financial intelligence unit (FIU) has imposed a L$21 million fine against all the in...
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UAE Issues Deadline for Businesses to Register for AML System
The Ministry of Economy has highlighted the businesses that must register for the AML system. All...
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Large Korean bank to pay a huge fine for violating AML law
NEW YORK, April 20 (Reuters) – Industrial Bank of Korea 024110.KS, one of South Korea’...
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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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FinCEN Highlights That AML/CFT Regulation Requires Transformation to Fight Modern Crimes
The acting director of FinCEN has highlighted the fact that the existing AML/CFT regulatory frame...
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Jamaica Shows Significant Progress in Anti-Money Laundering Compliance
Jamaica impressively complied with 37 recommendations from 40 international Financial Action Task...
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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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UK Government Proposes New Cybersecurity Laws
The UK government proposed new laws for cybersecurity last week to increase security standards in...
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CSSF Imposed a €226,000 Fine on Maitland Over AML Compliance Failure
Maitland Luxembourg SA received a penalty of €226,000 over anti-money laundering and customer due...
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Europol & Budapest Police Arrest Criminal Group for Laundering EUR 44 Million
The Budapest Metropolitan Police along with Europol have arrested a criminal group involved in mo...
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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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Swedish gambling regulator seeks high money-laundering fines
The Swedish Gambling Authority (SGA) has taken a tough stance against money laundering and reques...
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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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New fake ad alert system launched to fight online scams
According to ITV, the UK Scam Ad Alert tool – developed by the Advertising Standards Authority (A...
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SkyCity Entertainment Earmarks $29m for Anticipated AML/CFT Regulations Fine
Australian gaming company, SkyCity Entertainment, has provisioned $29m in anticipation of a civil...
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FCA Fines £642K to Sunrise Brokers for AML Failings
FCA imposed a £642K fine on Sunrise broker for facilitating fraudster trading and having an inade...
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Singapore Seizes $2 Billion Worth of Assets in Money Laundering Investigation
Singaporean regulatory authorities officials accused lax immigration policies of large inflows of...
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Shufti Introduces Digital COVID Pass for COVID Test Verification
Shufti has launched a Digital Covid Pass solution to promptly verify the COVID PCR-test repor...
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Surging Cryptocurrency Scams Target Lower Mainland Seniors
CARP of South Surrey/White Rock has found that the surge in cryptocurrency scams are a threat to ...
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Canada Broadens Scope of Anti-Money Laundering and Terrorist Financing Rules
After Prime Minister Justin Trudeau invoked the Emergencies Act on Monday, 14th February, the Dep...
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British Government Prepares Task Force to Halt Financial Crimes
After observing a 70% increase in push-payment fraud, the UK’s government has devised a tas...
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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...
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Canada’s Anti-Money Laundering Crackdown Gets Support From Coalition
The Canadian government has swiftly responded to a call for action from an alliance of organizati...
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Danske Bank Revamps Compliance Measures After Money-Laundering Scandal
Danske Bank A/S was engulfed by a money-laundering scandal in 2018 among other banks in the Nordi...
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Beverly Hills Store Pleads Guilty to Conspiring with Drug Money Launderers
U.S. Private Vaults, Inc. has pleaded guilty to charges on its Beverly Hills store of conspiring...
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Star Casino Faces Class Action for Anti-Money Laundering Failures
The Star casino has been hit with a shareholder class action for its alleged non-compliance with ...
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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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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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FSA Japan Considers Imposing Stricter Regulation on Cryptocurrency
The updated regulation will be designed to provide better protection to Japanese investors.
Accor...
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Colombia Releases New Regulations For Crypto Firms Operating in the Country
The Colombian government passed new drafts for the local crypto organisations to continue operati...
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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...
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Central Bank of Bahamas Calls for Stringent Due Diligence in the Wake of FTX Collapse
The Bahamas’ Central Bank has called for stricter due diligence while moving funds in the w...
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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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Australia introduces new rules to tackle mobile identity theft
Acma (Australian Communications and Media Authority) has introduced a new regulation to fight ide...
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FATF Examines Technology use in Making AML/CFT More Effective
FATF has recognized the importance of combining human input and manual review with automation for...
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FinCEN Wants Banks to Submit SARs to Affiliates Under AML Act 2021
FinCEN proposed a new rule that will allow banks to share suspicious activity reports with foreig...
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Ghost Coin deployed as payment for vending machines in Hong Kong
Ghost Coin, the privacy coin headed by John McAfee, can now be installed in vending machines in H...
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13K Affected in Third-Party Data Breach at Anthem MaineHealth
A third-party service provider accessed the database of Anthem MaineHealth and obtained patients’...
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Swiss Prosecutors Open Probe Against “Suisse Secrets” Whistleblower
The Swiss Prosecutors have launched an investigation, not after the bank but against the Suisse S...
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US Authorities Impose Anti-Money Laundering Crackdown on Offshore Lenders
The US Financial Crimes Enforcement Network (FinCEN) threatened offshore lenders with Anti-Money ...
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Money Service Businesses Tighten AML/CFT Measures Amid Challenges
Microfinance firms, remittance services, and cambios have reported success in upgrading AML/CFT m...
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