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Sri Lanka Central Bank to Take Criminal Action Against Suspects of $47 Million Crypto Scam
The Central Bank of Sri Lanka is considering criminally prosecuting operators of a Sports Chain c...
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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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FSA Japan Considers Imposing Stricter Regulation on Cryptocurrency
The updated regulation will be designed to provide better protection to Japanese investors.
Accor...
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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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Anonymous Report Reveals Indian Indiscriminate Targeting Against NGOs
According to the shadow report, India has been indiscriminately targeting non-governmental organi...
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Global Banks Slapped with a Total of $14.21 Billion Fines in 2020
Finbold released a report on the global banks that were fined in 2020. According to the report, a...
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The SEC Uncovers a Pyramid Scheme and Charges Multiple Individuals
The U.S. regulatory authority SEC uncovered a crypto pyramid scheme that stole approximately US$2...
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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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“Steer Clear Of Online Shopping Fraud This Holiday Season”, Says Victor Fredung
Following the FTC’s statement regarding online shopping fraud, Shufti’s CEO Victo...
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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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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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455 Social Media Accounts Flagged for Rolling Out Fake IDs – Europol Reports
455 social media accounts flagged by Europol, which were providing fake identity documents to ill...
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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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California’s EDD is Falling Behind in Legitimate Unemployment Claims
According to a report by Calmatters, California’s Employment Development Department is lacking be...
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Experts Warn that Scammers are Exploiting EU Users on Meta’s Threads
Meta’s Threads app has become the newest platform for cyber scammers to commit identity theft, cr...
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Lawyers in Malta Lag Behind in Complying with AML Measures
Malta obliged the various sectors to comply with risk assessment measures. According to the Finan...
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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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Australian Defense Department Hit by Ransomware Attack
Australian Defence Department has been hit by a ransomware attack. No information about former or...
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SRA Fines a Law Firm £14,000 for Breaching ID Verification Regulation
A business organization is being penalized £14,000 by the Solicitors Regulation Authority (SRA) f...
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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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MAS Imposes Capital Requirements on OCBC for Inadequate Scam Response
Additional capital requirements have been imposed on the OCBC bank by the Monetary Authority of S...
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US Government Looking to Develop Vaccine Passports as Proof of Vaccination
The US government is looking to develop a system that would manage the credentials and verify the...
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New RBI Guideline: Must Perform Due Diligence for Crypto Transactions
In the latest banking news in India, notable banks were found to have cautioned their customers a...
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EDD Fraud Scandal in California – 87 Suspects Arrested
Within two weeks, the Beverly Hills Police have arrested 87 people that are suspected to be invol...
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European Commission Removes Morocco From High-Risk Money Laundering Watchlist
On Wednesday, the European Commission disclosed that Morocco was no longer listed on its high-ris...
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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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£2 Million of Suspected Money Laundering Assets Seized by Royal Gibraltar Police
Following information from a Spanish law enforcement agency, the Royal Gibraltar Police have init...
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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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Banks Warned about Cryptocurrency Risk Exposure by FinCEN Director
During a virtual anti-money laundering conference by ACAMS in Las Vegas earlier this week, FinCEN...
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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 Highlights “Important Progress” in Colombia’s Anti-Money Laundering Reforms
A follow-up report from FATF (Financial Action Task Force) reveals that Colombia has significantl...
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Pakistan Launches Contactless Biometric Verification for Banking
Pakistan has become one of the first countries in the world to implement biometric verification t...
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EBRD and Central Bank of Jordan Raise Awareness Against Financial Crime
EBRD and the Central bank of Jordan join hands in running campaigns to raise awareness for the tr...
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Georgia Ramps Up AML Measures to Combat Financial Crime
A new report released by the Council of Europe’s AML body has highlighted Georgia’s progress in c...
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EU Parliament Approves More Stringent Rules to Combat Money Laundering and Terrorist Financing
The latest EU Parliament vote approves the formation of a new anti-money laundering authority and...
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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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CBDC Rules to Be Introduced by IMF, World Bank, and G20 Countries
The international financial authorities have teamed up with the Group of Twenty (G20) to create C...
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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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AUSTRAC Warns Banks Against Closing Accounts of Crypto Traders
AUSTRAC shows full support for the Australian crypto industry and is issuing warnings to banks ag...
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Singapore Seizes $2 Billion Worth of Assets in Money Laundering Investigation
Singaporean regulatory authorities officials accused lax immigration policies of large inflows of...
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New Zealand Encounters Spike in Online Identity Theft
Recent research of New Zealand’s financial market has shown a spike of 86 percent in identity fra...
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Regulators Seize First Republic Bank and Sell a Portion of Assets to JPMorgan
Regulators seized First Republic Bank and sold a portion of its assets to JPMorgan Chase. This is...
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Gambling Commission Imposed a £6.1 Million Fine on Touch Games for Money Laundering Failings
The Touch Games, a gambling firm that operates 11 websites, has been fined £6.1 million over fail...
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New Zealand Forces Banks To Strengthen Their Security Measures
New Zealand’s parliamentary committee has urged banks and financial institutes to bolster their s...
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Online Gaming Used by Criminals to Groom Minors into Drug Mules
Criminal networks are now applying the use of online video game, Fortnite, to groom minors around...
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UAE Strengthens AML Measures to Bolster Virtual Asset Framework
The UAE’s anti-money laundering and counter-terrorism financing department stated it continues bo...
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France to Consider Amendment Obliging Crypto Firms to Obtain Licenses
In January 2023, the French Parliament will consider the amendment to cancel the favorable treatm...
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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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Morgan Stanley, Interactive Brokers Under Money Laundering Probe
The FBI, SEC, and other state agencies are now investigating why Morgan Stanley took on Rodriguez...
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Coinbase Attorney Urges SEC to Announce Crypto Rules
Coinbase’s attorney forced the Securities and Exchange Commission (SEC) to announce a trans...
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Mirabaud Bank Fined $3M for AML Failings by Dubai Authorities
The Dubai Financial Service Authority (DFSA) levied a fine of $3M on the Middle Eastern bank, Mir...
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Taiwan’s Financial Authority Set to Establish Rigid Crypto Regulation
Taiwan’s Financial Supervisory Commission (FSC) has designed regulations that protect the c...
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China plans on introducing digital yuan
China’s central bank has sent one of its strongest signals yet of a commitment to creating ...
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European Commission Lists Online Gambling a High-Risk Sector for Money Laundering
The European Commission has listed online gambling as a high-risk avenue for money laundering aft...
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Cyberhack Discloses Data on Over 600,000 Medicare Beneficiaries
A data breach in May 2023 exposed the personal information of 612,000 Medicare beneficiaries, inc...
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With Rising Fintech Adoption, FI’s are Investing in AI for AML Compliance: Report
Reduced rates of false positives and the resulting decline in operational costs have caused an in...
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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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Clubs to Adopt Digital Wallets as NSW Reveals Money Laundering Via Machines
The clubs in Australia are to adopt the digital wallet for poker machines as the regulators disco...
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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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Canada to Update AML Laws for Payments Services, FinTechs and Crowdfunding Platforms
The Canadian government’s federal budget announced that new regulations will be implemented to up...
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Australian Senate to Examine the Scope & Impact of AML/CFT on DNFBPs
The Australian Senate’s inquiry will be examining the impact of bringing DNFBPs under the AML/CFT...
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Formal Warning Issued to Westpac Over AML Failures, RBNZ Discloses
The bank underreported 8000 corporate transactions made overseas between July 2018 and February 2...
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Google to Improve its Compliance Program After BTC-e Data Loss
Google has committed to strengthening its legal compliance program after losing data linked with ...
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Star Casino Faces Class Action for Anti-Money Laundering Failures
The Star casino has been hit with a shareholder class action for its alleged non-compliance with ...
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Netflix ‘Update your payment” phishing scam is bypassing email spam filters
Phishing scams are taking a new turn as more and more people are using streaming services during ...
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FIAU Imposes €60,000 Fine on Audit Firm for AML Failings
€60,000 fine imposed on an audit company, for failing to report money laundering and suspected ta...
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Online fraud attempts increase during COVID-19 catastrophe
According to ACI Worldwide, the rate of fraud attempts have increased to 4.3% in April, slightly ...
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Russian Financial Authorities Reach Consensus on Crypto Mining Regulation
Russian financial authorities have adopted a common ground on cryptocurrency mining regulation. T...
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AUSTRAC New Risk Assessment Report on Banking Sector Warns Brokers of High ML/TF Risk
The brokers knowingly allowed the loans to be repaid with illicit funds, states the report.
AUST...
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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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COVID at EURO 2020 Reinforced the Need for Digital COVID Pass
With 2 infected players infiltrating the entire stadium, many are fearing the spread of COVID-19 ...
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Philippines’ Anti-Money Laundering Counsel Increases AML Measures for Casino Junkets
The Philippines’ Anti-Money Laundering Counsel (AMLC) has stated that it is currently impro...
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