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2020 Election is coming up! Facebook bans deepfakes
2020 is up and the United States’ presidential election campaign is underway. Prior to these elec...
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Hong Kong Arrests 13 in HK$53 million Money Laundering Case
13 people in Hong Kong have been arrested for money laundering and operating illegal gambling sit...
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T-Mobile Suffers its Second Security Breach within Six Months
T-mobile US suffered its second data breach between late February and early March, affecting 836 ...
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Saudi Arabia Permits 9 FinTech Companies to Operate in Regulatory Sandbox
The Saudi Arabian Monetary Authority (SAMA) announced that it has allowed nine more FinTech firms...
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Singapore Seizes $736m Worth of Assets in Money Laundering Investigation
Singapore police have arrested 10 foreigners in the money laundering operation and seized $736m w...
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UK Exposed to Significant Trade-based Money Laundering Risks Post-Brexit
Risks related to trade-based money laundering in the UK are expected in the upcoming years, accor...
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Vietnam Govt to Introduce Crypto Research Group to Evaluate Policy
Vietnam’s Ministry of Finance has plans of establishing a research group with the aim of studying...
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UAE Establishes New Federal Authority for “Commercial Gaming” to Control Casino Giants
The UAE government is ready to launch a new federal authority to regulate online lottery business...
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Toronto: 4 People Charged for Alleged Identity Theft and Fraud Worth Millions
Toronto police seized millions of dollars, Porsche Panamera, and other identity details after a y...
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Study Reveals Alabama to be the Center for Identity Theft and Fraud
According to the latest study, Alabama has become the state with one of the highest rates of iden...
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Binance Fined $3.4 million by Dutch Central Bank For Violating Regulatory Laws
The De Nederlandsche Bank (DNB) fined Binance with $3.4 million for failing to get regulatory ap...
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Aussies Lost Record-breaking $851 million During COVID-19: ACCC Reports
Amid the pandemic, Australians lost a record-breaking amount of $851 million in 2020. According t...
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Canada Broadens Scope of Anti-Money Laundering and Terrorist Financing Rules
After Prime Minister Justin Trudeau invoked the Emergencies Act on Monday, 14th February, the Dep...
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$8.6bn Lost to Cryptocurrency-based Money Laundering in 2021
‘The 2022 Crypto Crime Report’ by Chainalysis has revealed that a total of $8.6 billion was lost ...
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US Crypto Industry Faces Pushback on Implementation of Crypto-Friendly Legislation
The US crypto firms visited Capitol Hill to push their industry-friendly regulations however, thi...
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UK Fines Dixons Carphone for Massive Breach
Dixons Carphone is one of the largest electronics and phone retailers in the UK. Recently British...
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UAE’s Economic Integration Committee Highlights Files of Mutual Investigation with FATF
In the latest Economic Integration Committee meeting, the UAE’s financial regulatory authorities ...
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Financial regulators assure further assistance to the industry during COVID-19
Global financial regulators guarantee to provide ease in the regulations to deal with the COVID-1...
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Central Bank of China Issues Warning of DC/EP Fraud
China’s Central bank, the People’s Bank of China along with two other regulatory authorities has ...
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FATF Updates Guidance on Strengthening Beneficial Ownership Information
The Financial Action Task Force (FATF), in recommendation 24, established the first international...
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HKMA Fines Four Banks with $5.7 Million for AML Failings
Hong Kong’s financial regulator has imposed fines on four banks with a combined amount of $5.7 mi...
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Danske Bank Facing the Long-term Cost of Money Laundering
Danske Bank is still facing the consequences of its involvement in the €200 billion worth of mone...
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FCA Says Bankman-Fried FTX Cryptocurrency Exchange Not Regulated in the UK
FCA warned crypto exchange FTX due to their unauthorized operations. The financial regulator clea...
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Hong Kong’s New Crypto Regulations may Attract Web3 Firms Back
Hong Kong’s new proposed crypto regulation received Huobi Global’s, a Chinese crypto platform, pl...
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International Student Sues Commonwealth Bank for Money Laundering Scam
An Indonesian student and her family sued the Commonwealth Bank as they lost millions of dollars ...
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Nigerian-Owned Tech Firm, Flutterwave, Closes 45 Bank Accounts Due to Money Laundering
A group of 2,468 Nigerian nationals accused Flutterwave Payments Technology of defrauding them of...
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UAE to Demonstrate Effective Financial Crime Prevention to be Removed From FATF Gray List
The economic secretary of the UK recently stated (April 25th, 2023) that the United Arab Emirates...
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Sweden Points Out the Rising Cases of Money Laundering in Gaming Industry
Financial Police of Sweden has revealed a report that highlights more than 700 cases of money lau...
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Saudi Arabia Uncovers Massive Fraud worth SR11.5 Billion
Law enforcement authorities in Saudi Arabia arrested at least 32 suspects including businessmen, ...
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Singapore’s Regulatory Authority Fines US$1.7M to Resorts World Sentosa for Due Diligence Failure
The gambling operator, Resorts World Sentosa (RWS), was fined by Singapore’s Gambling Regulatory ...
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African Federal Government Urges Collaboration to Combat Money Laundering and Terrorist Financing
The African Federal Government stressed the urgent teamwork needed to combat money laundering, te...
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China’s Top Leaders Indicate the Further Tightening of Financial Regulations
Chinese leaders have indicated that the country will move to further strengthening of financial r...
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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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US Sanctions Russian Crypto Firm Over Ransomware Payments
Suex, a Russian crypto OTC broker, was involved in facilitating ransomware payments and has been ...
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Hong Kong opens up its first online-only bank
According to reports, ZA Bank, the first online bank in Hong Kong, opened up on Tuesday (March 24...
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Abu Dhabi Regulatory Authority Fines Pyypl $486,000 for Violating Money Laundering Laws
Abu Dhabi Global Market (ADGM) financial regulatory authority fined $486,000 to digital UAE bank ...
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Monetary Authority of Singapore (MAS) Fines Four Financial Institutions for Breaching AML Laws
A fine of S$3.8 million (Singapore dollar) was handed down by the Monetary Authority of Singapore...
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Guyana plans Amending Anti-Money Laundering Legislation
The government of Guyana is looking to amend the AML/CFT legislation in the National Assembly to ...
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Phillippines Added to FATF Gray List Again for Inadequate AML Casino Measures
The Philippine financial system did not comply with international Financial Action Task Force (FA...
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Philippines Extends Registration Period for Amended AML Regulations
The Anti-Money Laundering Council in the Philippines has revisited the guidelines of the Anti-mon...
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UK’s Revised Fraud Policy Criticised for Ineffectiveness Against Rising Crimes
On Wednesday, Britain announced its strategy for reducing fraud by 10% by the end of the current ...
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UAE Praises Singapore’s S$2.8b Financial Crime Bust
The director-general of UAE anti-money laundering and counter-terrorism financing commends Singap...
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Real Estate Money Laundering Rises, KCB Dragged to Court for AML Breach
Real Estate development and construction company Tirupati Development Limited has dragged KCB Ban...
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FCA Puts its Foot Down Against Money laundering in Banking Sector
Financial Conduct Authority, FCA, is taking action against money laundering in the banking and fi...
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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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Kount integrates AI software for immediate identity verification
Kount, a fraud prevention firm is planning on introducing the Identity Trust Global Network for t...
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Millions of Twitter and Facebook Users May Have Had Their Accounts Compromised
Facebook and Twitter announced on Monday that the personal data of millions of users may have bee...
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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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$8M seized, Four Arrested for Money Laundering Activities Across Sydney
The Sydney law enforcement authorities seized more than $8 million in cash and arrested four crim...
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FMA Gives Red Signal to Pencarrow Private Equity for AML/CTF Violations
The Financial Market Authority (FMA) has issued a formal warning to Pencarrow Private Equity Mana...
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Despite KYC, Dutch Central Bank Struggles over Crypto Ownership Records
Despite the strict measures for KYC requirements, the Central Bank of the Netherlands is still mu...
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Chinese regulators extend financial support to bring Hong Kong, Macau closer
China’s financial regulators revealed an extensive plan to ease investments and cross-border tran...
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Elon Musk proposes regulations on artificial intelligence
”Organizations developing artificial intelligence must be regulated”, says Elon Musk. This is not...
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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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UAE Extends the Deadline for DNFBPs to Register for AML Regulations
The Ministry of Economy (MoE) in Abu Dhabi has announced the deadline extension for the registrat...
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The third man involved in ID theft scheme and money laundering is sentenced to jail
Minnesota man among the three criminals involved ID theft scheme and money laundering has finally...
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United States Senate, UAE Government, and Spain Make Significant Efforts to Curb Money Laundering and Terrorist Financing Activities
United States Senate, UAE Government, and Spain Take effective measures to amend current Anti-Mon...
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Ransomware gang strikes three companies in the US and Canada
The well-known ransomware group REvil has initiated another series of attacks targeting three com...
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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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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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Europol Warns Trade-Based Money Laundering Poses Substantial Threat to Financial Institutions
Financial institutions faced trade-based money laundering as a new threat since the digitalisatio...
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Japan Revises Six Laws to Tackle Money Laundering in Cryptocurrency
The Japanese government is pondering enacting a new law. The “bundling bill” proposed...
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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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UK Gambling Commission Charges Kindred Brand $8.7M over AML Shortcomings
The UK Gambling Commission has charged the Kindred Group with a hefty £4.19-million (US$5.15 mill...
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Consumers Lost €15.6M to Impersonation, Investment, and Romance Scams
Approximately 70% of Irish consumers have been targeted by some form of identity scam, according ...
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AUSTRAC to Update Guidance for Threshold Transaction Reporting
AUSTRAC has made it mandatory for reporting entities to include a threshold transaction report (T...
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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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IMF Urges El Salvador to Restrict Cryptocurrencies as Legal Tender Amid Money Laundering Risks
The International Monetary Fund (IMF) is persuading El Salvador to revoke the initiative of makin...
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Europol & Budapest Police Arrest Criminal Group for Laundering EUR 44 Million
The Budapest Metropolitan Police along with Europol have arrested a criminal group involved in mo...
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59 Arrested in Vietnam Crackdown on Illegal Crypto Gambling Group
Law enforcement bodies arrested 59 Vietnamese in illicit gambling schemes and were suspected of $...
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SMEs Decry Registration Hurdles Owing to SCUML Certificate
SMEs have decried hurdles in opening business/corporate accounts due to the Anti Money Laundering...
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Rabobank Fined EUR 500K for Ineffective KYC Compliance
The Dutch Central Bank (DNB) instructed Rabobank to enhance their CDD, transaction monitoring, an...
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