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Deepfakes on TikTok raise new security concerns
Deepfakes have started showing up on the popular video app TikTok, owned by ByteDance, a Chinese ...
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U.S. Takes the Lead in Combating Illegal Financial Activities Through Updated AML Timelines
The Biden Administration released a new fact sheet highlighting the administration’s progre...
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FATF Highlights the Gaps in New Zealand’s AML Measures
Financial Action Task Force (FATF) has issued a report on New Zealand’s measures to combat money ...
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Founders of US Crypto Firm Charged with Assisting North Korean Hacking Group in Laundering Money
Two co-founders of the cryptocurrency firm Tornado Cash, Roman Semenov and Roman Storm, were char...
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China Raises Penalty, Broadens Scope of AML Laws
The People’s Bank of China (PBOC) has published a revised draft for the country’s AML law which e...
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Massive Cyberattack on Australia Uses Cryptojacking Exploits
According to the Australian Cyber Security Centre, a group of “state actors” hacked Australian ne...
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Natwest Caps Transfer Limit to Binance Over Fraud Concerns
Natwest bank is scrutinizing cryptocurrency transactions, including Binance transactions, due to ...
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China Postpones New AML Rules Amid Privacy Concerns and Pushbacks
China has delayed the introduction of new rules for due diligence as financial institutions requi...
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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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Japan Launches a Three-Step Plan for Introducing Digital Yen
After the announcement of the Bank of Japan to introduce digital Yen by 2021, the statement by Ko...
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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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Nonprofit Guam Shrine Club Under Fire for Alleged Illegal Gambling and Money Laundering
Seven people, three GSC officers and four other individuals from Guam Shrine Club, a nonprofit or...
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US DOJ Arrests Two in Alleged NFT Money Laundering, Rug Pull Scheme
The US Department of Justice has arrested two in a $1.1 million non-fungible token fraud and mone...
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AFM Fines Robeco €2 Million for AML Compliance Failure
The Netherlands’ financial regulator AFM has fined Robeco €2 million for failing to implement ade...
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The UK plans to levy on banks to prevent money laundering
According to Reuters, Britain plans to announce a new levy on banks and other financial instituti...
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Singapore sees 300% yearly spike in Q1 cryptojacking attacks amid Coronavirus
Data published by Russian cybersecurity firm Kaspersky depicts that Singapore has witnessed a sud...
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Unlisted Crypto Exchange, JPEX, Investigated for Criminal Charges by SFC
The Hong Kong Security and Futures Commission (SFC) warned an unlisted crypto exchange platform, ...
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Mexico: Federal Anti-Money Laundering Agency Freezes 1352 Accounts for Money Laundering
On Tuesday, the police and federal anti-money laundering agency said that they have frozen 1352 b...
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PayPal Announces Suspension of UK Crypto Purchases from October
PayPal announced a temporary ban on UK cryptocurrency purchases, demonstrating their swift compli...
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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...
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Congress to Pass Urgently Needed AML & Whistleblower Protections Against Russian Oligarchs
Congress is close to passing urgently required AML and whistleblower protections targeting Russia...
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German FinTech N26 Notches $100M Amid COVID-19 Uncertainty
A funding deal for an extra $100 million has been closed by a German challenger bank N26 as it pr...
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CFTC Charges South African Pool Operator for BTC Fraud Worth $1.7 Billion
CTFC charges a South African pool operator Steynberg for the largest fraud case in the region inv...
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Shanghai police warn citizens to beware of online romance frauds
Shanghai police are warning people to be aware of Romantic Internet scams in which victims lose a...
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SPP Observes Rapid Increase in Money Laundering Cases Prosecuted Nationwide
The Supreme People’s Procuratorate (SPP) has observed a rapid increase in money laundering ...
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Falklands and Gibraltar Still on Spanish ‘Tax Haven’ List, Says Report
The official Spanish Gazette published a list which consists of Falklands/Malvinas and Gibraltar ...
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Non-compliant Crypto Accounts will Face Immediate Closure from Banks – Says CBN
Nigerian banks are ordered to track and freeze non-compliant crypto accounts, while banks that fa...
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Wellington Real Estate Company Fails to Report Suspicious Activity on Properties
Mills Gibbon and Co, a Wellington-based real estate company, has been warned by the Department of...
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German Law Firm Denies Money Laundering Allegations Against Deutsche ReGas
Hengeler Mueller, a German law firm, investigated the loopholes in the Anti-Money Laundering (AML...
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Over £1 Million Lost to Covid Business Support Fraud in Leeds
Leeds City Council papers have shown 74 cases of Covid business support fraud where more than £1 ...
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“Real Estate Is Critical To Money Laundering”, Says BSP
The Governor of BSP bank emphasized the urgent need for brokers to guard real estate against mone...
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Turkey to Face FATF’s Gray List Over Inadequate AML Practices
FATF is set to grey list Turkey over AML shortcomings, a move that is likely to affect the countr...
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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...
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Data Security at Risk Due to the Fake Lending Apps
Gained network access, pictures, and contact information are at threat due to the fake lending ap...
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UAE Establishes Anti-Money Laundering Bodies to Enhance Global Monitoring
The United Arab Emirates is enhancing its money monitoring system to combat illicit cash flows, m...
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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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Local Election Officials’ Emails Could be at risk for phishing attempts
Cybersecurity firm Area 1 found 666 of 10,000 election workers used personal email accounts
Accor...
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Egypt to Enact Updated AML Legislations and Develop Action Mechanisms to Curb Financial Crimes
Egyptian Money Laundering and Terrorist Financing Combating Unit (EMLCU) is all set to enact revi...
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30 Swiss Banks Failed Money Laundering Regulatory Analysis Test
The Swiss financial regulatory authorities overviewed the security of the banking sector and noti...
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EU Lawmakers Propose New Bill to Combat Money Laundering through NFTs
Members of the European Parliament have proposed a new bill to increase scrutiny of the NFT and D...
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FinCEN Calls in Bankers to Assess AML/CFT Risks in DeFi
The Financial Crimes Enforcement Network (FinCEN) is focusing on DeFi oversight as government bod...
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Filipino crypto scammers are impersonating government officials for profit
A Filipino finance entity warns against the supposed crypto Ponzi scheme Bitcoin Revolution, blam...
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HMRC Fines Real Estate Agencies £500,000 for Anti-Money Laundering Violations
HMRC has issued a total of £519,645 in fines to 68 estate agents that failed to comply with rule...
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South Korea Unlikely to Legislate Crypto Regulations Before the U.S – Says FSC
South Korea’s Financial Services Commission focuses the cryptocurrency legislation. According to ...
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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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FinCEN Calls in Bankers to Assess AML/CFT Risks in DeFi
The Financial Crimes Enforcement Network (FinCEN) is focusing on DeFi oversight as government bod...
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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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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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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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UK’s National Crime Agency Builds a Specialised Crypto Investigation Team
The United Kingdom’s National Crime Agency (NCA) is planning to establish a professional team to ...
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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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Customers warned of scams by the UK banking lobby amid COVID-19
Banking customers should be aware of fraudsters who are exploiting the COVID-19 epidemic to carry...
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Crime on the Rise, Mutual Fund Investments Need KYC
Know Your Customer (KYC) is to be implemented on all financial market-related investments. In ord...
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Facial Recognition Market to Grow 12.5% Annually Through 2024
According to a new report by Mordor Intelligence, the facial recognition market is expected to gr...
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Americans ‘work from home’ strategy present new targets for hackers
Coronavirus outbreak has forced organizations to let their employees work from home during the ou...
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Nigeria’s Senate Passes Bill to Tighten Money Laundering Rules
Nigeria’s Senate has passed a bill that is aimed at improving the country’s money laundering regu...
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Optus Data Breach Leaves Millions of Australians at Risk of Identity Theft
The APF is investigating Optus’s data breach that involves millions of customers’ per...
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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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Europol and EU Member States Launch Operation Targeting Assets of Sanctioned Entities
Europol and EU member states along with Eurojust and Frontex have launched Operation Oscar to ass...
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“Beneficial Ownership Data Must be Structured, Centralised and Accessible”, Says GCFFC
According to the paper issued by the GCFFC, data must be structured, centrally collated, interope...
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Irish Businessmen lost More than €10 Million in Invoice Redirect Fraud
Sophisticated invoice redirect fraud in Ireland has resulted in the loss of €10 Million for busin...
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Mimecast reports a 26.3% increase in spams and opportunist cybercrimes during the first 100 days of COVID-19
With the current pandemic going on, cybercriminals are taking advantage of the situation escalati...
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Economic uncertainty ‘a breeding ground for fraud and financial crime
The FATF has warned that the Coronavirus outbreak has caused unparalleled challenges in the econo...
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Pandemic Fraud Crackdown: US Bank Employees Indicted Over Document Fraud
Bank employees and tax preparers fraudulently applied for $3M+ in pandemic relief loans through f...
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Swiss Court Seeks $45m Compensation in Credit Suisse Money Laundering Case
Federal prosecutors in Switzerland are seeking compensation of $45 million in the Credit Suisse m...
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China’s cyberspace regulators approve 224 blockchain ventures
China’s Office of the Central Cyberspace Affairs Commission (OCCAC) has recently announced a new ...
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Transparency International Declares South Sudan Second Most Corrupt Country
In the East African region, South Sudan has been ranked as the most corrupt country in the world....
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FACT Urges Treasury to Implement Landmark Corporate Transparency Act
FACT has urged the treasury department to impose crucial changes to draft regulations and impleme...
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The UK Introduces New Bill to Combat Identity Fraud and Financial Crime
The UK government has launched a bill to prevent the flow of dirty money through its economy by c...
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EU Removes Iraq From List of High-Risk Money Laundering Countries
Iraq has been de-listed from the EU’s list of high-risk countries for money laundering and terror...
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Australian Bank, Westpac, Accused of 23 Million Money Laundering Breaches
Australia’s financial intelligence agency, The Australian Transaction Reports and Analysis Centre...
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US DOJ Stresses Disclosure of Beneficial Ownership Information to Curb Illicit Finance
The US says that it is important for countries and governments to embrace a policy of disclosing ...
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