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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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New Zealand to Update AML/CFT Regulation from 9 July 2021
Among other changes, reporting entities have been directed to conduct customer due diligence on n...
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Rabobank’s Profits Drop Over Shut Down in Russia and Increased AML Costs
Dutch Cooperative Rabobank revealed that its profit plunged more than a quarter in the first half...
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FBI Warns of Tech Support Scammers Compromising Financial Accounts
The Boston Division of the Federal Bureau of Investigation (FBI) has warned of an increase in num...
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AUSTRAC Has Published a New Guidance For Detecting “Cuckoo Smurfing”
AUSTRAC’s guidance offers indicators for financial institutions, to allow them to detect suspicio...
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Indonesia to Pass Regulations to Control Money Laundering
Indonesia is looking to develop a strong regulatory framework to curb money laundering and terror...
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$8 Million Worth of Crypto Stolen From BitKeep Wallets
Cryptocurrencies worth $8 Million, including Binance Coin, Tether, Dai, and Ether, were stolen fr...
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European Banking Authority Issues Latest Regulations on Crypto Travel Rules
The European Banking Authority (EBA) announced the new consultation process to implement the cryp...
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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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China’s Fight Against Rampant Telecom Scams – Cracked 5,94000 Cases in Just 15 Months
China has passed a law to prevent telecom and online scams, allowing enforcement agencies to foll...
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EU Regulators Say Crypto Exchange Licenses Should be Revoked for Money Laundering
EU regulators have proposed that the licenses of crypto exchanges should be revoked in case of se...
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Combating COVID-19: Dubai warns of $10 million loan scheme fraud
A recent scam has emerged in Dubai which involves a $10 million loan for young entrepreneurs and ...
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Interpol Warns of the Rise in Romance Scams as Valentine’s Day Approaches
According to the Interpol, there is a new investment scam on the rise that is targeting the datin...
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‘Businesses need to brace for Iranian Cyberattacks’ – warns Homeland Security
The news of the assassination of Iranian military commander, Qaem Soleimani, is all over the medi...
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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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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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Cambodia Seeks Exit from FATF Grey List in Early 2023
Cambodia has finally invited the Financial Action Task Force (FATF) to evaluate its progress in f...
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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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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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Actor Behind $650M Ponzi Scheme Set to Face 20-Year Jail Time
The actor was arrested on account of wire fraud, identity theft, securities fraud, and executing ...
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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’,...
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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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ACRA Cancels Registration of Company for AML/CFT Failures
The Accounting and Corporate Regulatory Authority (ACRA) has revoked the registration of a compan...
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Beware of Puppy Scams This Holiday Season – BBB
The Better Business Bureau (BBB) has warned people to be cautious of online puppy scams, especial...
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Rabobank’s Profits Drop Over Shut Down in Russia and Increased AML Costs
Dutch Cooperative Rabobank revealed that its profit plunged more than a quarter in the first half...
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Black Friday Shoppers Alert: Digital Scam Victims Lose an Average of £1,000 Each
Black Friday shoppers have been advised to strengthen their cybersecurity as NFIB revealed that v...
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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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Lloyds Banking Group Initiates “Pilot Scheme” to Combat Frauds
Lloyds bank initiates a “pilot scheme” with the London police to counter criminal act...
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US Attorney General Warns about the Identity Theft this Holiday Season
The Federal Trade Commission states that more than 650,000 citizens’ identities have been comprom...
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Kuwait’s Ministry of Social Affairs to Amend the Executive Law to Fight Money Laundering and Terrorism
Kuwait’s Ministry of Social Affairs is currently reviewing a proposal to amend the executive regu...
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Lloyds Banking Group Initiates “Pilot Scheme” to Combat Frauds
Lloyds bank initiates a “pilot scheme” with the London police to counter criminal act...
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UAE Endorses Legal Framework for Unlicensed Virtual Asset Platforms
The United Arab Emirates (UAE) issued new strict anti-money laundering regulations for unlicensed...
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UAE Central Bank Issues AML/CFT Guidance For Exchange Houses
The Central Bank of UAE (CBUAE) has issued guidance for Licensed Exchange Houses (LEH), keeping F...
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NSW Gambling Laws Increase Risks of Money Laundering, Says the State’s Crime Commission
The New South Wales Crime Commission says that some of the state’s gambling laws have increased t...
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Online fraudsters steal £17m over COVID-19 lockdown
About £17 million have been lost due to online fraud over the Coronavirus lockdown period with yo...
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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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FSRA Imposed a Dh 1.32 Million Fine on Wise Nuqud Ltd for AML Failings
FSRA imposed a Dh 1.32 million fine on Wise Nuqud for AML failings. Wise cooperated in the invest...
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Italian banking association ready to accept digital euro
The Italian Banking Association (ABI) has disclosed that it is willing to support the introductio...
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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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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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Cryptocurrencies marked as top AML and CFT Priority by FinCEN
FinCEN will soon be publishing regulations on how financial institutions can incorporate cryptocu...
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RICS Urges Firms to Adopt ‘Extremely Careful’ Due Diligence Measures
The RICS has issued a statement for its members urging them to adopt ‘extremely careful’ measures...
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Phishing Scams Spike As Holiday Season 2021 Approaches
64% of the top courier companies have insufficient protection against phishing scams and other fr...
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Biden Increases 50% Budget for FinCEN to Omit Financial Crimes
President Joe Biden of the USA is pushing a plan for a 50% increase in the budget set aside for t...
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Dutch Money Mule Caught Involved in $3.5M of Money Laundering in Australia
A 22-year old Dutch national has been arrested by Australian Police for being a money mule in a m...
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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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The Financial Intelligence Analysis Unit Levies Fines Worth €2.2 Million in the First Half of 2023
The Financial Intelligence Analysis Unit fined €2.2 million in the first half of 2023. A constitu...
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Global Payments Industry At Risk Due to Cryptocurrencies, Says FinTech Boss
According to the boss of New York based investment banking company, Goldman Sachs, Cryptocurrenci...
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Swiss Government Gears Up to Establish a Central Registry for Beneficial Ownership
The Swiss government plans to set up a central registry for beneficial ownership, a step that ind...
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BaFin Imposes $10M Fine on Deutsche Bank for Euribor Control Failing
Deutsche Bank faces challenges as BaFin imposes a 10-million dollar fine for Euribor control fail...
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UK Watchdog Fines Al Rayan Bank 4M Pounds Over AML Control Failures
FCA, Britain’s financial watchdog, revealed on Wednesday, 11th Jan 2023 that it had imposed...
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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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“We Reaffirm Our Full Support for FATF’s Efforts Against Financial Crime” – G20 Leaders
According to the Rome Declaration, G-20 leaders ensure full support to back FATF recommendations ...
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South Korea FSC Identifies 14 ‘Fake’ Crypto Accounts Held by VASPs
All crypto accounts in South Korea are directed to register under their real names. Third-party b...
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Research and Data are Key to Developing Fair Crypto Regulations, Say Blockchain Experts
As global regulators are looking to have control over crypto, blockchain analysts say that lawmak...
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PSR Orders UK Banks to Reimburse Customers Tricked by Payment Fraud
PSR has advised UK banks to compensate customers who have been the victims by APP (authorized pus...
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15 Billion Stolen Logins From 100,000 Breaches – Reveals New Dark Web Audit
15 billion – a figure published demonstrates the stolen logins came about through the 18 mo...
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Money Laundering Via Trade Has Drastically Fallen, Says Association of Bankers Bangladesh
On May 22nd, the Association of Bankers, Bangladesh (ABB) reported that trade-based money launder...
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FinCEN Fines Puerto Rican Bank, Bancrédito, $15 Million on BSA Violation
Puerto Rican bank, Bancrédito, was fined $15 million by the Financial Crimes Enforcement Network ...
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Central Valley Towns Become the Hot Spot of Identity Theft
A new report identifies a small number of Central Valley towns with the highest incidence of iden...
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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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Hacker steals $250K by exploiting Bitcoin exchange Bisq
A hacker identified a significant software flaw on the decentralized Bitcoin exchange, Bisq, to s...
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Moroccan Charity, Najiba Foundation, Faces Account Termination by ING Bank for AML Failures
Internationale Nederlanden Groep (ING) wants to terminate one of the largest Moroccan charity fou...
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Germany to Implement the 6th AML Directive to Secure Financial Firms
The Federal Government of Germany has decided to draft a law for money laundering operations. Eur...
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UAE police show how fraudsters can access your bank account
Abu Dhabi Police has alerted people against the download of unknown apps so they can secure their...
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The market for Digital Identity Solutions expected to double by 2024
The market for Digital Identity Solutions is predicted to double between 2019 and 2024, as report...
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EU, UK and US Blame Russia for Cyberattacks on Internet Service Providers
Accusations were imposed on Russia due to the recent disastrous cyberattacks on the European sate...
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Qatar’s new AML laws leave no room for Cryptocurrencies
A number of countries across the globe are coming with up stringent policies to inhibit the illeg...
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Norway to Revive Travel by Introducing Vaccine Passports
By the Summer of 2021, Norway plans to revive travel to and from the country as it joins the list...
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Online Gambling Operator Penalized Over Failure to Meet Anti-Money Laundering Regulations
Boylesports, an online gambling operation is facing £ 2.8 million in fines for violating the regu...
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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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PBOC Issues Risk-Based Account Opening Guidelines for SMEs
The PBOC has issued guidance on Oct 14, 2021, for SMEs to adopt a Risk-Based Approach (RBA) when ...
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