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Economic & Financial Crime Bureau Gets Legal Powers as an Independent Authority
The Economic & Financial Crime Bureau and Financial Intelligence Unit [Bailiwick of Guernsey]...
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Thailand Launches Anti-Online Scam Center to Combat Cybercrimes
The Thai Government has officially launched the Anti-Online Scam Operation Centre (AOC) as of No...
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MEF Implements New Tax Rules on Commercial Gambling Businesses to Curb Financial Crime
The Ministry of Economy and Finance (MEF) brought about new tax rules on commercial gambling busi...
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Crypto Exchange Binance Banned by UK’s Financial Watchdog
Britain’s financial regulator, the FCA (Financial Conduct Authority) has said that Binance is no ...
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Equifax Survey shows Britain Prefers Biometric Verification
Credit reporting agency, Equifax, reports that Brits are much more open to adopting biometric aut...
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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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US Regulates Art Market as it is at High Risk of Money Laundering
Law enforcement agencies across the globe have turned their attention to the use of high-value ar...
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Saudi Bank Warns Citizens Against Financial Fraud Schemes Circulating via Fake News Websites
The Saudi Ministry of Commerce is reiterating warnings about fake news websites looting people by...
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Panama & the Cayman Islands’ AML Efforts May Lead to Removal From FATF Gray List
According to the Paris-based watchdog, Financial Action Task Force (FATF), Panama and the Cayman ...
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A Ponzi Scheme of $2.7 Million Unleashed
According to the U.S Department of Justice, a former attorney from Allentown was sentenced to six...
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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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Kansas Reports Highest Number of Identity Theft Cases in 2020
New research conducted reveals that Kansas State has been ranked at number one for having the mos...
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Cyprus Aligns with EU Regulations by Adopting Strong AML/CFT Measures
Cyprus has established a new digital registry and requires the businesses to identify their true ...
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FCA Emphasises on Companies to Invest in Compliance Program
The U.K’s financial crime investigation agency is now taking steps that will involve the companie...
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Peru Set Rules For Virtual Assets Platforms Under Anti-Money Laundering Regime
The Peruvian government ordered virtual assets service providers to report their activities to th...
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FATF issued guidance on risk-based AML/CFT policies
The Financial Action Task Force has issued finalised supervision on adopting a risk-based strateg...
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UK Customers Losse £580m to Identity Scammers in First Half of 2023
UK Finance disclosed that identity theft is a proliferating scam, and they recorded 1.4m fraud ca...
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NGOs Advised on Due Diligence to Tackle Terrorism Financing
The Financial Crimes Commission’s SCUML has advised Non-Governmental Organizations (NGOs) to cond...
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Macau to Introduce Digital Currency to Combat AML Threats in Casinos
Macau is moving towards introducing digital currency to fight money laundering and tax evasion in...
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Money Mule Initiative Results Announced by the US Department of Justice
As a part of the Money Mule Initiative, the law enforcement depart of the USA has taken action ag...
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Financial Intelligence Center Says SA Car Dealers Are at High Risk of Money Laundering
The Financial Intelligence Centre (FIC) has said that SA’s motor vehicle dealers are at a high ri...
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Central Bank of UAE Penalized Exchange House Dhs504,000 for AML/CFT Breach
UAE’s exchange house has weak measures to fight money laundering and terrorism financing and requ...
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Twitter Breach – Bitcoin Scams to the Next Level
A massive attack is reported on Twitter accounts of high-profile and well-recognized brands. Hack...
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NatWest Apologises for AML Failures and Issues Warning on Rising Inflation
The chairman of NatWest bank has apologised to shareholders for failing to implement adequate ant...
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Chinese Bank trials the test interface for PBoC’s Digital Currency
One of China’s largest state-owned banks, the Agricultural Bank of China (ABC) is testing a new i...
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Colombian Financial Crime Unit Detects $20 Billion Potentially Linked to Money Laundering
Colombia’s Financial Crimes Unit has detected $20 billion in financial operations that are potent...
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United Nations Ranks Kenya at Position 24 in the Dirty Money Business
Every year, the United Nations conducts surveys on how the countries are performing. One of the U...
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B.C. Real Estate Company Fined $230K for Multiple AML Violations
Nu Stream Realty Inc. has been fined $230,423 for failure to comply with federal Anti-Money Laund...
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Danske Bank Under Fire Over AML Shortcomings
The FSA has reprimanded Sweden’s Danske Bank over ‘shortcomings’ in its anti-money laundering con...
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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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Over Dh3 billion Confiscated from Firms violating AML Laws in UAE
The UAE has plans to take a strict stance on firms operating in the region over money laundering ...
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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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Job Seekers Face Concerns of Identity Theft Through Fake Employment Scams
Fake employment advertisements defrauded many job seekers with theft of money and personal detail...
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Amendments in UK Supervision Laws Enhance Risk of Money Laundering
Accounting bodies have warned that changes in the UK supervision of AML compliance regulations wi...
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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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Australian Government Introduces $800 Million Budget for New Technology and Expands Digital Identity Checks
The Morrison government has announced an $800 million budget for expanding digital identity check...
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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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Australia to Ban Credit Cards for Online Gambling to Prevent Payment Fraud
The Australian government will soon ban online gambling with credit cards. The government will in...
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Livestreaming Helps Shanghai Police Crack Money Laundering Case
There has been an arrest of a live streamer by Shanghai police who had been tipped off by a live ...
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FATF Issues New Set of AML and CTF Recommendations for EU States
The Financial Action Task Force (FATF) has offered a new set of guidance for European Union (EU) ...
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65,000 Australian Credit Cards Discovered on Dark Web
A significant proportion of stolen credit cards contained private information such as addresses, ...
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Remarkable Progress in Facial Recognition Revealed by a New Study
Could you have imagined a few years ago that you could be identified from your brain scan? The id...
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Malta Should Remain Vigilant Against Money Laundering, Says FATF President
FATF President Marcus Pleyer says that Malta must prioritise its fight against illicit financial...
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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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FATF Upgrades Guidelines on Risk-Based Approach for VA/VASPs
FATF (Financial Action Task Force) is upgrading the regulations regarding the risk-based approach...
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Facebook and LinkedIn follow Twitter’s suit demanding Clear view AI to stop scrapping user images
The previous month, after NewYork Times’ critical report on the facial recognition tech of Clearv...
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NGO Coalition Files a Complaint Against French Banks for Money Laundering Linked to Amazon Deforestation
The Non-Governmental Organisations (NGOs) have filed complaints against French banks BNP Paribas,...
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Turkey Mandates NFC-based Identity Verification for Customer Onboarding
Turkey’s regulatory body, Banking Regulation and Supervision Agency (BRSA) has issued new regulat...
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China officially recognizes Blockchain jobs as a new occupation
The ongoing COVID-19 outbreak is modifying blockchain companies, and its effect is not always neg...
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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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Oklahoma Takes Strict Legislative Measures to Prevent Child Identity Theft
The Senate of Oklahoma has approved a bill to take strict measures against those involved in the ...
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India to Introduce Physical Cryptocurrency Bank Branches
India has been rapidly adopting the changes in the digital world and introducing physical banks f...
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B.C. Real Estate Company Fined $230K for Multiple AML Violations
Nu Stream Realty Inc. has been fined $230,423 for failure to comply with federal Anti-Money Laund...
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China Makes Facial Recognition Mandatory For Smartphone Users
China is making it mandatory for all smartphone users who register new SIM cards to submit to fac...
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IRS And Foreign Tax Enforcers Warn of Increasing Money Laundering Risks in NFTs
The IRS and foreign tax enforcers have issued a warning of the increasing risks of money launderi...
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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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The Naivas Data Breach | A Wake-Up Call for Firms to Follow Privacy Laws
Naivas, one of Kenya’s largest supermarkets, recently suffered a data breach, highlighting ...
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Regulators in Hong Kong Urge Banks to Accept Cryptocurrencies
Hong Kong banks are worried about regulatory repercussions for their crypto clients if money laun...
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SEC Warns Philippines Companies on Lack of AML Compliance
The Securities Exchange Commission (SEC) warned that it would enforce the Revised Corporation Cod...
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Bipartisan Senators Propose Amendment of the National Defense Authorization Act to Prevent Crypto Money Laundering
Bipartisan lawmakers in the US amended the obligations of anti-money laundering and updated the N...
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Iranian President Calls for National Crypto Mining Strategy
The Iranian President, Rouhani, recently informed the officials from the Central Bank of Iran (CB...
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Paramount and Forever 21 Data Breach Exposes Thousands of Customer’s Personal Details
The significant media house Paramount Global and the renowned fashion supplier, Forever 21, have ...
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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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US Imposes First-Ever Sanctions on Bitcoin Mixer for Money Laundering
The US Treasury recently announced that it has imposed the first-ever sanctions on a bitcoin mixe...
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HSBC Bank SMS Phishing Scam Targets UK Victims
A new phishing scam, designed to lure victims into handing over their HSBC bank account details, ...
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Ukraine Passes Anti-Money Laundering Law based on FATF
The Government of Ukraine has passed the final version of a money laundering law based on the gui...
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US Senator Warns ‘a Run on Crypto’ May Need Federal Bailout
Elizabeth Warren, US Senator and a longtime bitcoin skeptic has shared her views about the upside...
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Prosecutors Raise Questions About KYC/AML Against Cryptocurrency Mixers
According to the prosecutors and financial regulators, cryptocurrency mixers are reportedly being...
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Digital euro successfully tested at the Bank of France
On May 20, Banque de France announced that France has become the first country to successfully te...
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WHO launches blockchain platform to fight COVID-19
On March 28 the World Health Organization (WHO) collaborated with major blockchain and technology...
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Australian Housing is the “Destination of Choice” for Money Laundering – Says Serena Lilywhite
Weak, outdated money laundering and terrorist financing laws are creating havoc in the real estat...
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FINRA Issues Notice to Remind Firms of Nation-wide AML/CFT Priorities
FINRA has issued a notice reminding all member firms to comply with AML/CFT priorities as mandate...
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