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European Banking Authority Publishes Final Guidelines on Remote Customer Onboarding
The European Banking Authority (EBA) has issued its final policies on remote customer onboarding ...
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ACMA Introduces New Policies to Combat SIM-Swapping Scams at Telcos
New policies have been introduced by ACMA to prevent SIM-Swapping attack for Telcos to protect us...
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Australian Federal Police to Establish a Cryptocurrency Unit to Combat Money Laundering
AFP rolled out a dedicated crypto unit to combat monetary scams by fraudsters. According to AFP, ...
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Germany to Establish New Regulatory Body to Combat Money Laundering
It has been reported that the German government will create a new regulatory body to combat money...
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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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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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Police warns after an increase in online scams selling face masks
The Cleveland Police has warned the public regarding the increasing number of Coronavirus related...
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Reddit follows Facebook suit and bans impersonation on its platform
Earlier this week, Facebook announced its new policy to ban manipulated pictures and videos known...
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FCA Advises Firms to Embed Data and Technology to Combat Financial Crimes
Sarah Pritchard, the FCA executive director of markets, spoke at the Financial Crime Summit in Lo...
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U.S Congress Suspects the Use of Bitcoin to Fund Domestic Terrorism
U.S Congress subcommittee worries that Bitcoin might have been used in funding the Capitol revolt...
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US Imposes Sanctions on Russian-backed Iranian Oil Smuggling & Money Laundering Network
The US has imposed sanctions on a Russian-backed oil smuggling and money laundering network for I...
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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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RBI Allows Multinational Banks to Retain Limited Data Abroad for AML Screening
KYC data can be retained in offshore bank branches for the purpose of sanctions and AML screening...
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HKMA Reveals Phishing Fraud Went Up by 145% in 2021
Statistics revealed by HKMA show that phishing fraud rose by 145% in the first half of 2021.
Hon...
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Netflix users targetted by scammers during COVID-19 outbreak
According to a security company, Scammers are increasingly using the likeness of online streaming...
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Star Casino’s Share Tumbles 21% Following Money Laundering Allegations
Individuals banned from gambling at the Star casino in Sydney had been permitted to gamble at Sta...
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FATF Reveals Qatar’s Failure to Enforce Crypto Ban to Combat Money Laundering
Qatari authorities have taken naive action against crypto companies that violated a ban announced...
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FCA Fines Nigeria’s Guaranty Trust Bank Over AML Control Failures
The (FCA) Financial Conduct Authority has charged 7.6 million pounds ($9.3 million) to the UK sub...
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FINMA, SFC, and MAS Fine Multiple Financial Institutions Over $1.5 Billion For Money Laundering Activities
FINMA, SFC, and MAS fined multiple financial institutions over $1.5 billion for not complying wit...
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Binance Pulls Out its Rival Exchange Huobi from Money Laundering Attempt
Binance helped its rival crypto exchange, Huobi Global, recover the amount taken in a bridge expl...
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Star Entertainment Group Experiences $1.26B Loss after Money Laundering Investigation
Star Entertainment Group experienced a major loss of $1.26 billion during the first half of 2023,...
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New Variations in Business Email Compromise Accounted for Losses of $43 Billion, Says FBI
Introduction of new variations in Business Email Compromise scams netted $43 Billion in losses ca...
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Court Convicts Defendant of Defalcation of Public Funds in Abu Dhabi
A defendant was convicted of money laundering and tax evasion by Abu Dhabi Criminal Court and sen...
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Singaporean Banks Enhance Security to Combat Financial Crime
The Monetary Authority of Singapore (MAS) stated that the country’s banks are enhancing security ...
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Dark Web Becomes a Haven for Insurance Fraud
Dark Web has recently become a growing market for unemployment insurance fraud and fraudsters can...
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FATF Finalizes Key Working Areas in its Fifth Plenary Meeting
FATF’s fifth plenary meeting consisting of 206 members of the Global Network and Observer organiz...
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Hong Kong Legislators Invite Coinbase to the Region Despite SEC Concerns
Coinbase and other crypto exchanges have been invited to establish operations in Hong Kong; the r...
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Global OCR market expected to reach $70 billion by 2030
The global OCR market is expected to grow at the CAGR of 15% from 2020 to 2030, reaching USD 70 b...
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Australian Government to Extend AML and CTF Regime
The Australian Government has initiated a consultation on revising the Anti-Money Laundering (AML...
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Vietnam Enhances Anti-Money Laundering Laws to Prevent Financial Crimes
Vietnam regulatory departments are redefining their AML compliance measures to supervise cryptocu...
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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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Travel to Restart as Several Countries Roll out Their Version of Vaccine Passports
Japan is planning on introducing a vaccine passport to make travelling easy for people. Internati...
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Cambodia and Thailand Police Forces Unite Against Money Laundering and Terrorist Financing
The Cambodian and Thailand National Police officers partner to bolster their strength against mon...
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UAE Issues a Total of $11 Million in Fines for AML Offenses in First Half of 2022
UAE’s AML task force has imposed fines of over Dh41 million ($11m) in the first six months of 202...
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UAE Central Bank Fines Firm $490,000 for Violating AML/CFT laws
The UAE’s Central Bank has charged a financial firm Dh1.8 million ($490,000) over breaching the c...
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China’s Financial Watchdogs All Set to Regulate FinTech Sector
China’s four years regime to clear all risks from the financial system have been extended to the ...
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DBS Bank in Singapore Entering the Crypto Sector with Three New Offerings
Singapore’s largest commercial and retail bank, DBS, is likely to enter the cryptocurrency sector...
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WhatsApp Receives Fine Worth $267m for Breaching EU’s Data Privacy Law
Ireland’s Data Protection Commission has stated that WhatsApp failed to inform EU citizens suffic...
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Bank of Ghana Issues New Guidelines for AML and CTF
The Bank of Ghana (BOG) has introduced new directives on Anti Money Laundering/Combating the Fina...
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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 ...
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More than HK$8 Billion has been Laundered through Hong Kong Banks in 2020
Victims of online, phone and investment scams have been conned out of more than HK$8 billion (1.0...
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Pacific Financial Intelligence Unit Collaborates to Combat Money Laundering
The Financial Intelligence Unit of the Pacific region arranged the meeting last week to enhance t...
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SMS Phishing Scams are Impersonating State Agencies – FTC Warns
FTC issues warning against SMS phishing attacks that are impersonating state workforce agencies t...
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South Africa Gets the Green Signal for New AML/CTF Laws
South Africa has finally gotten a green signal for new finance laws to address shortcomings ident...
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Vending machines can now be operated with Bitcoins
Vending machines used by key Asia-Pacific soft-drink bottler and distributor Coca-Cola Amatil wil...
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Swedish Legislators Propose an Increase in Money Laundering Penalties for the Gambling Industry
Legislators in Sweden will consider increasing penalties for gambling operators who violate the n...
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Leading MSB Industry Associations Introduce Best Practices For Anti-Money Laundering
The introduction of the best practices for anti-money laundering by leading MSB industry associat...
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Bill to Combat Money Laundering Makes Its Way Through The Senate
The US House of Representatives passed the Corporate Transparency Act of 2019 (HR 2513) on Octobe...
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Canada’s MP Introduces Private Member’s Bill to Amend Criminal Code
The members of parliament of Simcoe North, including the deputy minister of finance, have introdu...
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“Cybercriminals are Tampering with QR Codes to Redirect Victims”, FBI Warns
The Federal Bureau of Investigation (FBI) has issued a warning regarding Malicious QR codes that ...
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COJ Organizes Anti-Money Laundering Unit to Meet FATF Standards
The Companies Office of Jamaica (COJ) has established an AML and CFT unit to comply with FATF req...
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FinTech and InsureTech Booms in Israel as $120M Raised for Investments
FinTLV, a fund based in Tel Aviv, has announced that it has collected $120 million worth of funds...
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Central banks urged to introduce digital alternatives to cash
According to a recent report from Positive Money, Central banks across the globe should issue a d...
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Singapore to Strengthen Security Measures Against Phishing Scams
Singapore is taking steps to introduce additional security measures to detect suspicious transact...
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EU’s New Anti-Money Laundering Watchdog to Monitor the Crypto Space
The European Union is developing a program to impose stringent regulations on the cryptocurrency ...
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FCA Fines Bastion Capital For Serious AML Failings
The Financial Conduct Authority (FCA) has imposed a fine on Bastion Capital London for serious AM...
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UAE Firms Must Disclose UBO’s to Avoid Dirty Money Watch List
500,000+ firms in the UAE (United Arab Emirates) face disclosure of their Ultimate Beneficial Own...
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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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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...
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UAE to Revolutionize the Financial Regulatory Requirements
A new set of measures are being taken by the Ministry of Justice in the UAE to curb the money lau...
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Fintech funding dwindles amidst Coronavirus pandemic
Fintech funding reduced at the beginning of 2020 because the COVID-19 outbreak began to hit late ...
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Estonian Cryptocurrency Exchange charged for concealing hack
Crex24, an Estonian cryptocurrency exchange, is accused of hiding a hack from its customers after...
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Latvian State Police Bust a Major Money Laundering Ring
Latvian State Police has identified and busted a huge criminal gang involved in money laundering....
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Global Payments Industry At Risk Due to Cryptocurrencies, Says FinTech Boss
According to the boss of New York based investment banking company, Goldman Sachs, Cryptocurrenci...
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Crypto Bank Anchorage Has Inadequate AML Measures, Says US Federal Regulator
A US federal regulator has said that the first federally-chartered digital asset bank Anchorage D...
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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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Hong Kong Looking to Legitimize Crypto Trading for Retail Investors
The government of Hong Kong has been looking at whether to legitimize crypto trading for retail i...
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NDAA Passed to Strengthen the Financial Crime Monitoring in the USA
The House of Representatives has passed the National Defense Authorization Act to strengthen the ...
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AI-based voice cloning induces new scams
Vijay Balasubramaniyan, the CEO, CTO, and Co-founder of Pindrop Security, warns the world about a...
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FCA Probe into Barclays for Anti-Money Laundering Failings
The Financial Conduct Authority opened a probe into Barclays for suspected failings in compliance...
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Nigeria’s EFCC Devoted to Combating Money Laundering in Real Estate Sector
The Economic and Financial Crimes Commission chairman says that the agency is committed to fighti...
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‘EU Has Fragmented Approach to Combat FinCrime’, Says ECA
The European Court of Auditors (ECA) has identified weaknesses in the Anti-Money Laundering polic...
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