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Gibraltar financial watchdog issues warnings for four crypto sites
The Gibraltar Financial Services Commission, or GFSC, on June 5th, issued four public warnings to...
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UAE to Issue Federal Licenses to VASPs in Efforts to Embrace Crypto
The UAE is gearing up to issue federal licenses to virtual asset providers (VASPs) within a matte...
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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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Taiwan FSC to Ease Authentication Rules through Biometric Verification
According to new rules, banks will be using biometric authentication methods to fulfil ID authent...
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Nigerian Parliament Strengthens AML/CTF Laws for Real Estate Industry
Nigerian real estate regulatory authority to mandate businesses to comply with AML/CTF compliance...
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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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Saudi’s SAMA Warns Clients of Upsurge in Financial Fraud
SAMA urges clients to practice the highest degree of caution and prevents exposing any confidenti...
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Bank of Spain Issues New Cryptocurrency Regulations
Virtual asset service providers, banks, and other financial institutions are now required to regi...
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RBI Allows Multinational Banks to Retain Limited Data Abroad for AML Screening
KYC data can be retained in offshore bank branches for the purpose of sanctions and AML screening...
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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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Central Bank of Morocco to Introduce a Comprehensive Crypto Regulation Bill
Morocco’s Central Bank is drafting a set of comprehensive cryptocurrency laws as the digital asse...
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FBI Expands its Corruption Unit to Closely Monitor Illicit Activities
The Federal Bureau of Investigation (FBI) has stepped in, to monitor international corruption by ...
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The Bicycle Hotel & Casino Fined $500K For Violating AML Laws
The Bicycle Hotel and Casino will be paying $500K in fine as it failed to report Currency Transac...
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UK watchdog allows credit card and loan payment holidays to customers
The Financial Conduct Authority (FCA) has instructed top banks to offer three-month payment holid...
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GFI Study Reveals Weak AML/CFT Measures in Latin America and the Caribbean
The latest study by Global Financial Integrity (GFI) revealed that the Caribbean and Latin Americ...
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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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Dubai Court Sentences Gang of 18 for Charges of Money Laundering
The Dubai Criminal Court has convicted a gang of 18 individuals belonging to different countries ...
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Google CEO voices his concerns regarding AI and its potential harmful damages in the future
Sundar Pichai, Google CEO gave a statement on Monday regarding Artificial Intelligence and its in...
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Deutsche Bank Subordinate DWS Fined $25 Million for AML Violations
In the latest enforcement action, the Security Exchange Commission (SEC) has fined $25 million to...
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US Courtrooms Ponder Over the Photo ID Requirement for Voters
The US courtrooms are again facing the debate over the use of photo identification for voters. A ...
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UAE Issues a Total of $11 Million in Fines for AML Offenses in First Half of 2022
UAE’s AML task force has imposed fines of over Dh41 million ($11m) in the first six months of 202...
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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...
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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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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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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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Corrupt Countries Tend to Have a Higher Number of Crypto Users, Says IMF
A recent International Monetary Fund (IMF) study shows that counties that have more corruption ha...
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ChatBooks notifies users of the data breach after data sold on the dark web
ChatBooks has recently disclosed the data breach following a cyber attack on its system that resu...
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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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US Federal Reserve Fines Deutsche Bank $186 Million for Anti-Money Laundering Failures
The Federal Reserve announced on July 20th that it had fined Deutsche Bank (DBKGn.DE) and some of...
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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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Brexit Deal Decides the Future of Financial Service in the UK and the EU
Marketers have finally realized the full text of the deal between the UK and Brussels regarding t...
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Are Educational Institutes Becoming the Next Target for Money Laundering?
According to an investigation by The Times, higher-educational institutes have been unintentional...
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AMLC Freezes Assets of 16 Groups Labeled as Terrorist Organizations
The Anti-Money Laundering Council in the Philippines has frozen the accounts of 16 organizations ...
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FATF and EU Delist Bahamas from AML Blacklist
European Union has finally removed Bahamas from its AML blacklist, right after FATF has delisted ...
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United Nations Calls for a Pact to Fight Financial Crimes
United Nations’ panel of experts has called on the governments around the world to take part in e...
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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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NAB Updating KYC Data of 9M Customers
Project Apollo has been initiated by NAB in an attempt to meet AML obligations.
In August 2021, ...
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Art Dealers Urged to Intensify Regulatory Actions Against Money Launderers
The Department of Justice is establishing new rules to combat financial crimes via the art market...
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Myanmar Promises Improvements after FATF’s Blacklisting
Myanmar’s central bank has made promises of reforms and issued a warning against currency m...
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Singapore and Europe Enhance AML Framework to Fight Financial Crimes Effectively
Singapore and Europe have emerged with enhanced AML requirements for corporate services businesse...
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Increasing Money Laundering Fines for Banks After Lockdown
Despite the delays in enforcement activities due to lockdown, the globally issued money launderin...
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Turkish Regulatory Authorities Launch Investigation on Social Media Influencers for Money Laundering
Turkey’s Minister of Social and Labour Security Department stated they are conducting an in-depth...
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Europol Convicts Israel-France Gang on $40 Million Money Laundering Plot
Europol’s joint investigation with French authorities has led to the dismantling of a Franco-Isra...
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BBB Warns About the Potential Scams Fuelled by the COVID Vaccine Passports
As people around the world are increasingly becoming vaccinated, the concern about the vaccine pa...
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Nigerian House of Representatives Pledges Strict Regulations Against Money Laundering and Terrorism Financing
The Nigerian House of Representatives Committee on Financial Crimes stated they would design stri...
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EU to Introduce Uniform Legal Framework for Crypto Assets
The EU is negotiating on new rules for introducing a uniform legal framework for crypto assets wi...
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Sri Lanka removed from the high-risk money-laundering list
COLOMBO – Sri Lanka was recently removed from the list of high-risk countries for money lau...
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SEC Warns Wall Street to Enhance AML Systems
US regulatory authority, the Security and Exchange Commission (SEC), warns Wall Street brokers of...
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Council of Europe Shows Support to Serbian Authorities For Combating Money Laundering
The Council of Europe stays dedicated to showing support to authorities for fighting money-launde...
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GIABA Points Out Gaps in Nigeria’s AML/CFT Framework
The GIABA report revealed loopholes in the Nigerian AML/CFT framework and called Nigerian law enf...
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Binance to Strengthen KYC Measures & Sanctions Enforcement with New Partnerships
The global crypto exchange Binance has announced that it will strengthen its KYC controls & s...
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Internet infrastructure industry plans on ensuring internet trust amidst COVID-19 outbreak
As a global crisis emerges due to the Coronavirus outbreak, and global population practices socia...
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Satabank Penalized with €851,000 for Non-Compliance
Financial Intelligence Analysis Unit (FIAU) on Statabank has decided to fine the bank the sum of ...
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Facebook’s Libra is a Failure in its Current Form says Swiss President
According to the Swiss President, the controversial project by Facebook has ‘failed’ in its curre...
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UAE Central Bank Imposes Financial Sanctions on Six Banks for CDD Failures
Six banks in the UAE have been issued financial sanctions by the UAE Central Bank for not complyi...
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Nigeria: Senate Bans Establishment and Operations of Shell Banks
The Senate is banning the establishment and operations of shell banks in Nigeria as an attempt to...
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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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UAE and UK Initiate Large-Scale Crackdowns Against Money Laundering
The UAE has set up an AML task force that is currently pursuing hundreds of cases, and Cambridges...
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Banks Ordered by BSP to Enhance the Filing of Suspicious Reports
MANILA, Philippines – In an attempt to ramp up its fight against financial crimes, the Bang...
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Hong Kong Provides Guidance to Fight Financial Crimes Emerging from COVID-19
The Monetary Authority in Hong Kong (HKMA) has issued new guidelines for the banks on merging ext...
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Nigerian House of Representatives Pledges Strict Regulations Against Money Laundering and Terrorism Financing
The Nigerian House of Representatives Committee on Financial Crimes stated they would design stri...
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US Shows Conflicts with China at First Financial Meeting
In a recent financial working group meeting, the US Treasury raised disagreements with China, whe...
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Turkey to Ban Cryptocurrency Payments to Avoid Financial Crime
The Central Bank of Turkey is to ban the use of cryptocurrency payments by 30th April. This initi...
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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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SRA Fines Oxfordshire Law Firm over Weak AML Controls
The SRA (Solicitors Regulation Authority) has charged £20,000 to an Oxfordshire law firm after id...
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Germany and Austria to Adopt Digital KYC for Customer Onboarding
Banks and financial institutions are always searching for ways to impress the customers and the d...
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Dubai KYC consortium to enhance UAE bank profits
According to Moody’s Investors Service, the recently formed Know Your Customer (KYC) consortium i...
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FIAU Fines iGaming Company Approximately €236,789 for Money Laundering
The Financial Intelligence Analysis Unit has ordered a Malta-based remote gaming operator to pay ...
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ABLV Asset Management Fined with €57,217 for AML/CFT Violations
FCMC (Financial and Capital Market Commission) has enforced a fine of €57,217 on ABLV Asset Manag...
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HM Revenue & Customs (HMRC) Fines Property Firms Over £1 Million for Money Laundering Violations
HM Revenue & Customs has fined property firms more than £1 million for not complying with ant...
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UAE Struggles to Shade Off Grey-List Status as it Continues to Attract More Crypto Firms
The UAE is keen on regaining a good reputation by clearing its name from FATF’s grey list while t...
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Nigeria’s EFCC Devoted to Combating Money Laundering in Real Estate Sector
The Economic and Financial Crimes Commission chairman says that the agency is committed to fighti...
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