The Top 10  Most Difficult Countries for Identity Verification

The Top 10  Most Difficult Countries for Identity Verification

Download Report

    n-img-roi-cross

    Before You Go, Schedule Your Free Demo Today

    Valid Invalid number


    Note: Fields marked with an asterisk(*) are mandatory.

    n-exit-img-roi-cross

    Thank you for your demo request

    We appreciate your interest and look forward to discussing how our solution can meet your needs. Expect to hear from us shortly with scheduling details.

    Close

    us

    40.77.167.35

    HMRC Fines Real Estate Agencies £500,000 for Anti-Money Laundering Violations

    n-img-hmrc

    HMRC has issued a total of  £519,645 in fines to 68 estate agents that failed to comply with rules to prevent money laundering.

    The fines have been issued in order to ensure compliance with AML regulations after the first prosecution of a real estate agent who was trading without registering with HMRC.

    Felix Uwuigbe, director of Century House Estates in London, was sentenced to 120 hours of unpaid community service and banned from acting as an estate agent for two years after he was convicted of trading for three months while unregistered.

    The complete list of businesses not complying with money laundering regulations sees 175 companies receiving penalties totalling £2,180,708.

    The list was previously published in May 2022, which saw 147 businesses, including 41 estate agents, receive penalties totalling almost £800,000.

    HMRC says it is currently investigating a number of other cases of businesses failing to register whilst trading, which could lead to prison sentences of up to two years and an unlimited fine.

    Nick Sharp, HMRC’s deputy director of economic crime, said: “We are determined to create a level playing field for businesses who play by the rules. That means taking action against the minority businesses failing to fulfil their legal responsibilities under the money laundering regulations.

    “Money laundering is not a victimless crime. Our regulations are there to protect businesses from those criminals who would prey on their services to wash their dirty money.

    “Serious and organised crime costs the UK billions of pounds every year and our anti-money laundering supervision is a vital tool in combatting that.”

    Martin Cheek, managing director of SmartSearch, commented: “Once again, estate agents, unfortunately, find themselves in the spotlight for compliance failures with 68 firms fined more than half-a-million pounds. This latest round of fines and ongoing pattern of non-compliance clearly shows the urgent need to improve standards in the sector.”

    Suggested read: Real Estate Firm LeHomes Realty Fined $282K for AML Compliance Failure

    Related Posts

    News

    UAE Imposes Fines Exceeding Dh115 Million to Combat Money Laundering in Q1 of 2023

    The UAE has imposed a monetary penalty of Dh115 million ($31.3M) in the first quarter (Q1) of 202...

    UAE Imposes Fines Exceeding Dh115 Million to Combat Money Laundering in Q1 of 2023 Explore More

    News

    FATF Urges Japan to Implement Stronger AML Measures

    The FATF mutual evaluation report on Japan proposes the formation of a joint-agency body to enhan...

    FATF Urges Japan to Implement Stronger AML Measures Explore More

    News

    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...

    Phillippines Added to FATF Gray List Again for Inadequate AML Casino Measures Explore More

    News

    Tech Analysts Say Elgin Data Breach May Prove “Devastating” for Those Vulnerable to Identity Fraud

    Technology experts raise questions about the lack of transparency of the municipality in dealing ...

    Tech Analysts Say Elgin Data Breach May Prove “Devastating” for Those Vulnerable to Identity Fraud Explore More

    News

    Department of Finance Announces Commencement of South Africa’s New AML/CTF Laws

    Department of Finance has announced the start date for South Africa’s new Anti Money Laundering a...

    Department of Finance Announces Commencement of South Africa’s New AML/CTF Laws Explore More

    News

    Mass Stablecoin Adoption Could Assist Financial Crime – Says FATF

    FATF suggests nations and financial service providers should identify potential risks of cryptocu...

    Mass Stablecoin Adoption Could Assist Financial Crime – Says FATF Explore More

    News

    Japan’s regulator verifies 2 new digital currency alliances

    Financial regulators in Japan have approved two organizations to act as digital currency associat...

    Japan’s regulator verifies 2 new digital currency alliances Explore More

    News

    FinCEN Wants Banks to Submit SARs to Affiliates Under AML Act 2021

    FinCEN proposed a new rule that will allow banks to share suspicious activity reports with foreig...

    FinCEN Wants Banks to Submit SARs to Affiliates Under AML Act 2021 Explore More

    News

    The US and UK Strengthen Ties Regarding Crypto Regulations, Says British Regulator

    The Top British regulator FCA reported that the US and UK are strengthening ties on crypto regula...

    The US and UK Strengthen Ties Regarding Crypto Regulations, Says British Regulator Explore More

    News

    Central Bank of Nigeria Speaks About the Terrorism Fuelled by Cryptocurrency

    The Central Bank of Nigeria, comments on why it does not favour the means of digital currency and...

    Central Bank of Nigeria Speaks About the Terrorism Fuelled by Cryptocurrency Explore More

    News

    Cryptocurrency brought under AML rules in Singapore

    Coinpip, the Singaporean cryptocurrency provider, has closed down its operations, in spite of dec...

    Cryptocurrency brought under AML rules in Singapore Explore More

    News

    Fintech Requires Tight Controls to Mitigate Data Privacy Risks, Treasury Report

    As per the new report by the U.S. Department of the Treasury, Fintech requires tight controls to ...

    Fintech Requires Tight Controls to Mitigate Data Privacy Risks, Treasury Report Explore More

    News

    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...

    FINRA Issues Notice to Remind Firms of Nation-wide AML/CFT Priorities Explore More

    News

    SEC Charges $79 Million Penalties on Broker Companies for Deficiencies in Recordkeeping

    The Security and Exchange Commission (SEC) has imposed $79 million worth of penalties on brokerag...

    SEC Charges $79 Million Penalties on Broker Companies for Deficiencies in Recordkeeping Explore More

    News

    Latvia Struggles with Flow of Illicit Money Despite Regulatory Crackdown

    Latvia continues to face illicit financial flow despite the regulatory crackdown that shut down t...

    Latvia Struggles with Flow of Illicit Money Despite Regulatory Crackdown Explore More

    News

    Federal Prosecutors to End Criminal Investigations on Gambling Site ‘5Dimes’

    5Dimes is a Costa Rica-based online gambling site that took bets from the US clients illegally. P...

    Federal Prosecutors to End Criminal Investigations on Gambling Site ‘5Dimes’ Explore More

    News

    “Student” Occupation Flagged for Money Laundering in Canadian Real Estate

    Son of “wanted for defrauding 60,000 investors” Chinese parents laundered millions of dollars int...

    “Student” Occupation Flagged for Money Laundering in Canadian Real Estate Explore More

    News

    Coronavirus outbreak exploited by internet scammers

    Americans are advised to stay watchful of cybercriminals’ attempts to misuse the life-threatening...

    Coronavirus outbreak exploited by internet scammers Explore More

    News

    Uber joins lawsuits to exempt itself from California law

    California law effective from today, i.e. Jan 1 is all set to give equal protection to independen...

    Uber joins lawsuits to exempt itself from California law Explore More

    News

    UKGC imposed EUR 3.8 Million Fine on Genesis Global for Social Responsibility and Money Laundering Violations

    After the two-year investigation, the United Kingdom Gambling Commission (UKGC) imposed EUR 3.8 m...

    UKGC imposed EUR 3.8 Million Fine on Genesis Global for Social Responsibility and Money Laundering Violations Explore More

    News

    FinCEN Hires First-Ever Chief Digital Currency Advisor to Curb Crypto Crime

    To eliminate the misuse of cryptocurrencies, Michele Korver has been appointed by FinCEN as the C...

    FinCEN Hires First-Ever Chief Digital Currency Advisor to Curb Crypto Crime Explore More

    News

    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...

    China Raises Penalty, Broadens Scope of AML Laws Explore More

    News

    SkyCity Adelaide Casino Investigation on hold Amid Money Laundering Court Action

    The investigation of SkyCity Adelaide’s capacity to hold a casino licence has been “put on hold”....

    SkyCity Adelaide Casino Investigation on hold Amid Money Laundering Court Action Explore More

    News

    Morocco’s Parliament Unanimously Approves the Bill to Amend AML Regulations

    The House of Representatives of Morocco has unanimously agreed to pass the bill to amend the anti...

    Morocco’s Parliament Unanimously Approves the Bill to Amend AML Regulations Explore More

    News

    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 ...

    South Korea Unlikely to Legislate Crypto Regulations Before the U.S –  Says FSC Explore More

    News

    Swiss Prosecutor Identifies Trail to Credit Suisse Money Laundering Case

    A Swiss Prosecutor has identified the trail leading to the Credit Suisse money laundering case wo...

    Swiss Prosecutor Identifies Trail to Credit Suisse Money Laundering Case Explore More

    News

    Vietnam’s New Legislation on E-Transactions Will Take Effect on July 2024

    The National Assembly of Vietnam passed the new e-Transaction law replacing the previous one, No....

    Vietnam’s New Legislation on E-Transactions Will Take Effect on July 2024 Explore More

    News

    AMLC Freezes Assets of 16 Groups Labeled as Terrorist Organizations

    The Anti-Money Laundering Council in the Philippines has frozen the accounts of 16 organizations ...

    AMLC Freezes Assets of 16 Groups Labeled as Terrorist Organizations Explore More

    News

    Clearview AI will be facing the legal claims after critical NYT report

    Clearview AI is an artificial intelligence firm providing facial recognition technology to US law...

    Clearview AI will be facing the legal claims after critical NYT report Explore More

    News

    Brazil to Introduce Facial Recognition to Verify People Wearing Masks at Airports

    Countries across the globe are taking necessary steps to introduce facial recognition at the airp...

    Brazil to Introduce Facial Recognition to Verify People Wearing Masks at Airports Explore More

    News

    FIU Highlights the Risks of Money Laundering in Estonia Due to VASPs

    FIU has highlighted in its annual report the risk of money laundering and terrorist financing in ...

    FIU Highlights the Risks of Money Laundering in Estonia Due to VASPs Explore More

    News

    WhatsApp accounts hacked to acquire bank card details

    Recently a new scam has emerged in Singapore where hackers are found to take-over WhatsApp accoun...

    WhatsApp accounts hacked to acquire bank card details Explore More

    News

    AFP to Crack Down on Italian Money Laundering Syndicates Operating in Australia

    The AFP is set to crack down on Italian organised crime and money laundering syndicates flowing b...

    AFP to Crack Down on Italian Money Laundering Syndicates Operating in Australia Explore More

    News

    American Gaming Association Updates Best Practices for AML

    The American Gaming Association (AGA) has released updated “Best Practices for Anti-Money Launder...

    American Gaming Association Updates Best Practices for AML Explore More

    News

    Binance in Trouble for Allegedly Aiding Money Laundering Worth $2.35 Billion

    An inquiry into the world’s biggest crypto exchange Binance has revealed that it has aided money ...

    Binance in Trouble for Allegedly Aiding Money Laundering Worth $2.35 Billion Explore More

    News

    N26 Banned by Italian Central Bank for Insufficient Money Laundering Controls

    The central bank of Italy has banned German digital bank N26 from onboarding Italian customers af...

    N26 Banned by Italian Central Bank for Insufficient Money Laundering Controls Explore More

    News

    Financial Watchdogs Flags Crypto Mixer Stoking as a Potential Risk For Money Laundering

    Cryptocurrencies are highly criticized by financial watchdogs and governments for potential risk ...

    Financial Watchdogs Flags Crypto Mixer Stoking as a Potential Risk For Money Laundering Explore More

    News

    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...

    Lawyers in Malta Lag Behind in Complying with AML Measures Explore More

    News

    UAE Confiscates Dh4.73 Bn Worth of Assets in Fight Against Financial Crimes

    In the past 12 months, the United Arab Emirates has seized assets worth Dh4.73 billion ($1.29bn) ...

    UAE Confiscates Dh4.73 Bn Worth of Assets in Fight Against Financial Crimes Explore More

    News

    The number of Bitcoin ATMs has increased to 8,000

    The total number of Bitcoin ATMs across the world have crossed 8,000. The United States has more...

    The number of Bitcoin ATMs has increased to 8,000 Explore More

    News

    SEC Move Ahead with Regulation of Virtual Assets Service Providers (VASPs)

    Ghana’s Security Exchange Commission (SEC) has begun endorsing plans to regulate the crypto indus...

    SEC Move Ahead with Regulation of Virtual Assets Service Providers (VASPs) Explore More

    News

    UK Amends Corporate Act to Combat Economic Crimes

    The UK government reformed the Economic Crime and Corporate Transparency Act to expand regulation...

    UK Amends Corporate Act to Combat Economic Crimes Explore More

    News

    Ghana Records $4.33m Financial Losses to Cyber Fraud in Q1’23

    Ghana suffered direct financial losses of US $4.33 million due to cyber fraud activities between ...

    Ghana Records $4.33m Financial Losses to Cyber Fraud in Q1’23 Explore More

    News

    National Westminster Bank Pleads Guilty to AML Breaches

    NatWest has stated that it violated multiple anti-money laundering regulations that required the ...

    National Westminster Bank Pleads Guilty to AML Breaches Explore More

    News

    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...

    FCA Puts its Foot Down Against Money laundering in Banking Sector Explore More

    News

    Turkey Mandates NFC-based Identity Verification for Customer Onboarding

    Turkey’s regulatory body, Banking Regulation and Supervision Agency (BRSA) has issued new regulat...

    Turkey Mandates NFC-based Identity Verification for Customer Onboarding Explore More

    News

    The US Treasury Department OFAC Enforces Whistleblower Programmes

    According to the US Treasury’s Department Office of Foreign Assets Control (OFAC), companies must...

    The US Treasury Department OFAC Enforces Whistleblower Programmes Explore More

    News

    MGA to Introduce Detailed Player Protection Guidelines for Responsible Gambling

    Malta Gaming Authority is set to introduce player protection guidelines after being placed on the...

    MGA to Introduce Detailed Player Protection Guidelines for Responsible Gambling Explore More

    News

    Bulgarian Prosecutors Investigate Crypto Lender Nexo for Alleged Illegal Activities

    Bulgarian officers have launched an investigation against Nexo as the crypto Lender was involved ...

    Bulgarian Prosecutors Investigate Crypto Lender Nexo for Alleged Illegal Activities Explore More

    News

    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...

    Economic uncertainty ‘a breeding ground for fraud and financial crime Explore More

    News

    Japan Crypto Regulator States Easing of Restrictions Must Wait

    The Japanese financial regulator FSA is reluctant about easing regulatory requirements for the cr...

    Japan Crypto Regulator States Easing of Restrictions Must Wait Explore More

    News

    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...

    Nigeria’s Senate Passes Bill to Tighten Money Laundering Rules Explore More

    News

    UAE Deploys Hi-Tech Measures to Combat Money Laundering

    The UAE has intensified its measures in the fight against money laundering and terrorism financin...

    UAE Deploys Hi-Tech Measures to Combat Money Laundering Explore More

    News

    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...

    Australia to Ban Credit Cards for Online Gambling to Prevent Payment Fraud Explore More

    News

    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 ...

    T-Mobile Suffers its Second Security Breach within Six Months Explore More

    News

    Financial Watchdogs in Thailand Issue Strict KYC for New Crypto Accounts

    The government in Thailand plans to eliminate anonymity in the new crypto account creation by enf...

    Financial Watchdogs in Thailand Issue Strict KYC for New Crypto Accounts Explore More

    News

    NFIU Increases Efforts to Remove Nigeria from FATF Gray List

    The Nigerian Financial Intelligence Unit (NFIU) has stated that it is working towards removing th...

    NFIU Increases Efforts to Remove Nigeria from FATF Gray List Explore More

    News

    Deepfakes on TikTok raise new security concerns

    Deepfakes have started showing up on the popular video app TikTok, owned by ByteDance, a Chinese ...

    Deepfakes on TikTok raise new security concerns Explore More

    News

    Hong Kong Police Arrests 19 Criminals and Halts a US $40.5M Money-Laundering Operation

    Hong Kong Police arrested 19 syndicate members pertaining to money laundering operations, involve...

    Hong Kong Police Arrests 19 Criminals and Halts a US $40.5M Money-Laundering Operation Explore More

    News

    Nordic Banks Ignored Money Laundering Red Flags for Years, Leaked Audits Reveal

    The Organized Crime and Corruption Reporting Project (OCCRP) has revealed in an audit that Nordic...

    Nordic Banks Ignored Money Laundering Red Flags for Years, Leaked Audits Reveal Explore More

    News

    Treasury to Require Car Dealers to Reveal the Identities and Sources of Income of Buyers

    The Treasury of Kenya will require car dealers to provide the identities and sources of their inc...

    Treasury to Require Car Dealers to Reveal the Identities and Sources of Income of Buyers Explore More

    News

    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...

    Economic uncertainty ‘a breeding ground for fraud and financial crime Explore More

    News

    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...

    FIAU Imposes €60,000 Fine on Audit Firm for AML Failings Explore More

    News

    $140 Million Stolen as Crypto Gaming Company Gets Hit by Hackers

    VulcanForge is the third cryptocurrency company to be targeted by hackers in just this month, wit...

    $140 Million Stolen as Crypto Gaming Company Gets Hit by Hackers Explore More

    News

    Better Business Bureau of North America Warns of Increased Scams & Fraud

    On April 11, Marilyn Mott, director of the Better Business Bureau’s Prescott office, addressed a ...

    Better Business Bureau of North America Warns of Increased Scams & Fraud Explore More

    News

    FATF Updates Guidance on Strengthening Beneficial Ownership Information

    The Financial Action Task Force (FATF), in recommendation 24, established the first international...

    FATF Updates Guidance on Strengthening Beneficial Ownership Information Explore More

    News

    Queensland Launches New Inquiry into Star Entertainment’s Money Laundering Controls

    Queensland initiates a new investigation to examine the money laundering controls of the Gambling...

    Queensland Launches New Inquiry into Star Entertainment’s Money Laundering Controls Explore More

    News

    A lawsuit is filed against LifeLabs for a data breach incident

    As reported earlier, the Canadian laboratory testing company, LifeLabs was hit with a cyber-attac...

    A lawsuit is filed against LifeLabs for a data breach incident Explore More

    News

    New York State Department Fines Robinhood $30m for Inadequate AML Compliance Measures

    New York’s top financial regulator has fined Robinhood $30 million for failures and shortcomings ...

    New York State Department Fines Robinhood $30m for Inadequate AML Compliance Measures Explore More

    News

    Nexo to Sue Bulgarian State over Money Laundering Allegations

    The Bulgarian crypto lending bank, Nexo, revealed that it would file legal action against the Bul...

    Nexo to Sue Bulgarian State over Money Laundering Allegations Explore More

    News

    Cambodia Under FATF’s Tight Monitoring Over Weak AML Measures

    Cambodia is under the tight monitoring of FATF over weak AML measures. According to Transparency ...

    Cambodia Under FATF’s Tight Monitoring Over Weak AML Measures Explore More

    News

    Australian Payment Network Reports 9.2% Increase in Payment Card Fraud

    AusPayNet reports that the e-commerce industry experienced a 9.2% rise in payment card fraud due ...

    Australian Payment Network Reports  9.2% Increase in Payment Card Fraud Explore More

    Take the next steps to better security.

    Contact us

    Get in touch with our experts. We'll help you find the perfect solution for your compliance and security needs.

    Contact us

    Request demo

    Get free access to our platform and try our products today.

    Get started