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Fraud claim filed against HSBC Bank for ‘sham’ investment scheme
A fraud claim worth £1.3 billion has been submitted by 371 investors against HSBC UK Bank for los...
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FTX Customers File Class Action Against Bankrupt Crypto Exchange
FTX customers had filed a class action against the bankrupt crypto exchange and its ex-CEO Sam Ba...
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US Firm Fined with Half a Million Dollars for Violating US Sanctions
A crypto firm, BitPay will now have to pay a fine of half a million dollars to the U.S Treasury’s...
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SEC Cautions Citizens Regarding Digital Investment Scams in the Philippines
The Securities and Exchange Commission (SEC) has warned the public to pay caution while making d...
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FATF Publishes 35 New Indicators Against Trade-based Money Laundering
Financial Action Task Force (FATF) and Egmont group has published a new report on risk-indicators...
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Indian Brokers Under Investigation for Alleged Money Laundering and Identity Theft
Three of the most prominent brokers in the country have come under scrutiny from numerous regulat...
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Canada’s MP Introduces Private Member’s Bill to Amend Criminal Code
The members of parliament of Simcoe North, including the deputy minister of finance, have introdu...
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Nepal at Risk of ‘Graylisting’ for Allowing Money Laundering
Nepal could be added to FATF’s greylist as the global AML watchdog has found a number of deficie...
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SEC Chair Gary Gensler Turns to Congress to Address Crypto Wild West
SEC Chairman stresses the need for proper checks on crypto exchange platforms, given the volatili...
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CBN Introduces Guidelines to Curb Money Laundering in the Financial Sector
The Central Bank of Nigeria (CBN) has issued guidelines on anti-money laundering and combating th...
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Malta-based Pilatus Bank Fined €5m Over AML & Terrorism Breaches
Pilatus Bank failed on various accounts, including identity verification of customer businesses, ...
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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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Blockchain Association States Senator Warren’s Crypto AML Bill is a Threat to the US
The Blockchain Association has raised concerns about the recently proposed Digital Asset Anti-Mon...
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Australian Government to Extend AML and CTF Regime
The Australian Government has initiated a consultation on revising the Anti-Money Laundering (AML...
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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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Dutch Court Rules Out Duties Imposed by National Bank on Crypto Platforms
The Dutch District Court ruled out all National Bank’s duties on the crypto platforms by stating ...
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NFTs Seek to Implement KYC/AML Standards as Money Laundering Rises
NFTs (Non-Fungible Tokens) are certainly becoming popular in the crypto industry. However, they d...
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Crown Resorts Accused of ‘Serious and Systemic’ Money-Laundering Breaches
AUSTRAC has brought Crown Resorts to court as the casino breached anti-money laundering regulatio...
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Ransomware attack targets Victoria Beckham’s personal data
Maze, the Ransomware gang strikes again. It seems that the victim this time is a US-based indepen...
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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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‘Money Laundering risk is higher in banks in Mexico than crypto firms’, says FIU report
According to the new report generated by the country’s financial intelligence unit (FIU), the ban...
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$4.4 Billion Worth Cryptocurrency Stolen in 2019
The crypto analytics firm, CipherTrace released its Q3 2019 Cryptocurrency Anti-Money Laundering ...
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Gambling Commission Fines Entain £17m for Social Responsibility & Anti-Money Laundering Failures
Ladbrokes owner Entain has been fined £17m by the Gambling Commission for social responsibility a...
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Dubai Jails 9 and Fines Over Dh15 Million for Money Laundering
Dubai courts have issued prison sentences to 9 offenders for money laundering. The Emirates conti...
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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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Phishing attacks hidden in Google Cloud Services
Cybercriminals are concealing phishing efforts behind legitimate resources like google cloud serv...
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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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FinCEN Implements Stringent KYC Regulations For Digital Wallet
The USA Treasury Department has proposed KYC- Know Your Customer Regulations for the digital asse...
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UK’s Victoria Gate Casino Fined $613K over AML Failings
The Source of funds for 10 customers were left unidentified by UK’s Victoria Gate Casino, resulti...
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FMA Sues Tiger Brokers for AML/CTF Breaches
The Financial Markets Authority (FMA) has filed court proceedings against Tiger Brokers for alleg...
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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...
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BPI Crackdowns on Money Mules to Secure Financial Institutions
The Bank of Philippine Islands (BPI) was flagged on Wednesday as it was suspected to be involved ...
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FBI Reveals North Korea’s Lazarus Group Involvement in $41 Million Stake Hack
US Federal Bureau Investigation (FBI) has revealed that the North Korean hacking group, Lazarus, ...
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FATF’s New Regulations Will Help Sanctions Find Russian Targets
The Financial Action Task Force’s drive to eliminate the anonymity of corporate beneficiaries mak...
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FinCEN Proposes Beneficial Ownership Reporting Requirements
The FinCEN proposed beneficial ownership reporting requirements to protect U.S financial system f...
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The UK’s Joint Money Laundering Steering Group Amends Crypto Asset Travel Rule
The UK’s Joint Money Laundering Steering Group (JMLSG) amended the Money laundering and Terrorist...
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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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Fintech Requires Tight Controls to Mitigate Data Privacy Risks, Treasury Report
As per the new report by the U.S. Department of the Treasury, Fintech requires tight controls to ...
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Australian Government Announces Development of Gambling Regulations Commission
Australian spokespersons for Gambling and Harm Reduction forced the New South Wales (NSW) governm...
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UAE Confiscates Assets Worth $354 Million to Crack Down on Money Laundering
UAE stepped up and seized $354 million worth of assets from March to mid-July 2023 in the fight a...
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UK to Regulate Stablecoins & Mint its Own NFTs to Become Global Crypto Hub
The UK is reportedly planning to regulate stablecoins as a payment method and the Royal Mint is t...
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FIAU Imposed a Fine of €130,000 on Olimp Limited for AML Failures
Olimp Limited has dropped its gaming license since FIAU imposed €130,000 fine on the company for ...
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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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NFTs Seek to Implement KYC/AML Standards as Money Laundering Rises
NFTs (Non-Fungible Tokens) are certainly becoming popular in the crypto industry. However, they d...
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President of Argentina Open to CBDC Adoption but Central Bank Says No
Alberto Fernandez, President of Argentina showed openness to adoption of Bitcoin and Central Bank...
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Switzerland Introduces New Regulations To Clamp Down on Money Laundering
Switzerland proposed new Anti-Money Laundering (AML) regulations to crack down on money launderin...
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Newsman arrested for credit card theft
A Newport Newsman was arrested due to credit card and identity theft allegations.
The arrest was...
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Hong Kong Police Seizes $65 Million From Triad Controlled Money Laundering Ring
Hong Kong police detained 458 people and seized $65 million in connection with an extensive crim...
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FATF Report Highlights Weaknesses in South Africa’s AML Systems
South Africa has a solid legal framework to combat money laundering and terrorist financing but h...
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State Street Bank fined $1.24 million for breaching AML laws
The US-based State Street bank has been hit with million-dollar money laundering fine. The Austra...
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Lebanon Central Bank Denies Money Laundering Allegations and Embezzlement Charges
The governor of the Lebanese central bank appeared in the first court hearing on the premise of s...
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Crypto-Supporting Digital Cards to be Launched Soon in China and Korea
UnionPay, an analogue for Visa and Mastercard service providers, has partnered with Danal, a Kore...
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US Financial Committee to Investigate Crypto to Combat Terrorist Financing
The US House of Financial Service Committee (FSC) is set to conduct an in-depth investigation of...
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U.S. Schools and Colleges Witness a Rise in Data Breaches
Data breaches and cyberattacks continue to grow and now targeting the education sector. Amid the ...
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South African Government Passes Key AML and CFT Laws to Fight Financial Crimes
South African government passes two significant laws to implement Anti Money Laundering and Count...
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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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Kenya’s High Court Freezes Sh15 Billion Over Suspected Crime and Money Laundering
The High Court of Kenya has frozen more than Sh15 billion over suspected proceeds of Money Launde...
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The Ringleader of a Crypto-Ponzi Scheme Arrested After a Flee Attempt
Mathew Piercey, a Ponzi scheme leader who defrauded $35 million for crypto mining and other inves...
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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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Japan Remains Distrustful of Digital Yen Despite its CBDC Research
Japan’s Central Bank Launches research on the Central Bank Digital Currency but still remains uns...
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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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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...
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American Gaming Association Updates Best Practices for AML
The American Gaming Association (AGA) has released updated “Best Practices for Anti-Money Launder...
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WhatsApp accounts hacked to acquire bank card details
Recently a new scam has emerged in Singapore where hackers are found to take-over WhatsApp accoun...
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South Africa Anticipates Removal from FATF Gray List in 2025
The South African government is anticipating that they will address all the FATF international st...
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Westpac Freezes Executive’s Bonuses Amid Money Laundering Scandal
Westpac’s board will withhold bonuses of all of its senior executives as an ‘interim’ step follow...
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SARB Issues Guidance to Discourage the Termination of Crypto Transactions in Banks
The South Africa Reserve Bank (SARB)’s Prudential Authority has issued a guidance note to banks f...
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FCA Fines Gatehouse Bank £1.58mn for Breaching Money Laundering Regulations
The Financial Conduct Authority (FCA) has fined Gatehouse Bank £1.58 million. The regulator disco...
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UAE to Include Crypto Framework in their 2021 Business Agenda
The financial watchdogs in the UAE are looking towards developing a detailed crypto framework in ...
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US Senators Urge CISA to Incorporate Rules for Ransomware Reporting
US senators have urged the CISA to enforce new ransomware reporting rules amid a sharp increase i...
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Money Laundering Ring Pushed $4bn through 60 HSBC Accounts within 2 Years
60 HSBC accounts were used to launder USD 4.2 billion in Hong Kong.
An investigation carried out...
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Türkiye Removed From Gray List, India Recognized for Its AML Efforts, and Kuwait Urged to Have Better Money Laundering Control Measures: FATF Updates
On Friday, an international financial watchdog committed to securing the global economic system a...
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