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China Strengthens Anti-Money Laundering Rules for Financial Institutions
China has taken steps to improve financial institutions’ measures to combat money laundering by p...
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BSA-AML Compliance Group Disclose Names of Annual Gaming Conference Speakers
The BSA-AML Compliance group has revealed the names of the speakers attending the annual gaming c...
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CBN Introduces New Anti-Money Laundering Rules for Microfinance Banks
The Central Bank of Nigeria has issued a guidance note that is aimed to prevent money laundering ...
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UK Cryptos Have Eight Months to Get their AML Measures In Order – FCA
UK – The Financial Conduct Authority (FCA) has pushed back the end date of crypto company’s...
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Philippines AMLC Releases New Study for Suspicious Transactions Linked to Casino Junkets
The Philippines AMLC has officially published the latest study on suspicious transactions linked ...
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FIAU Fines Crypto Firm €460,000 for Anti-Money Laundering Violations
FIAU (Financial Intelligence Analysis Unit) charged a crypto exchange and broker with a €463,235 ...
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Central Bank of Nigeria (CBN) Gives Financial Institutions 30 day Deadline to Close Accounts Without Bank Verification (BVN)
Financial institutions and banks have been given a 30 days notice period by the Central Bank of N...
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UAE Central Bank Imposes Dh352k Fine on Currency Exchange
The Central Bank of the UAE has fined an exchange house with a total of Dh352,000 for shortcoming...
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Ukraine Issues 14 Million Biometric Passports
According to Ukrinform, more than 14 million biometric passports have been issued in Ukraine so f...
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Colombian Money Laundering Watchdog Delays Crypto Transaction Reporting Regime
The UIAF has postponed the date for crypto exchanges and individuals to start reporting their tra...
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FATF Withdraws Switzerland From AML Enhanced Measures List
The Financial Action Task Force (FATF) removed Switzerland from the enhanced money-laundering com...
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Senate Reveals a 12-Year-Old Loophole Targeted by Americans to Cheat IRS
Offshore tax loopholes are safe havens for wealthy Americans to cheat the Internal Revenue Servic...
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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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Peru’s Former and Current President under Investigation for Alleged Money Laundering
Peru’s former and current presidents are under investigation for alleged money laundering a...
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£23.8 Million Fined to MT Global for AML Non-Compliance
A Money Service Business (MSB) firm, MT Global, penalized by HM Revenue and Customs for breaching...
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Kenyan Authorities Freeze Accounts of Two Nigerian Companies for Allegedly Laundering Sh6 billion
Kenyan authorities have frozen accounts containing Sh45 million belonging to two Nigerian compani...
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Interpol Seizes $130M Worth of Virtual Assets from Cybercriminals Worldwide
The International Criminal Police Organization Interpol has seized $130 million worth of virtual ...
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FINMA Penalizes Swiss Bank over Money Laundering of $78 Million
The Swiss regulatory authority, FINMA, initiated a lawsuit against the senior management at Juliu...
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Betting and Gambling Council Host AML Training for Gambling Industry
During the Gambling Anti-Money Laundering Group (GAMLG) training day on September 6th, the Bettin...
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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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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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FinCEN Launches Regulatory Process For AML Regulation on Antiquities
The ANPRM discusses how antiquities trade can be exploited by money launderers and terrorist fina...
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Ransomware attacks increase as more people work from home
According to a study published by the cybersecurity firm, Proofpoint, there has been an increase ...
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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...
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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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Korea FSC Confirms Plans for Crypto-focused Bureau at KoFIU
According to the FSC, the crypto-focused bureau will improve the transparency in virtual asset tr...
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BSP Warns Banks Against Auto Loan Fraud
According to BSP, organized crime groups are using fake identities to sell vehicles under fake li...
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N26 Fined $5M by German Watchdog for Delayed SAR
German regulator BaFin imposes a hefty $5 million penalty on digital banking company, N26, for un...
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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...
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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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Silvergate Bank ‘Aided and Abetted’ FTX Fraud, Alleges Lawsuit
The latest class action filings in the string of lawsuits allege Silvergate Bank over the last tw...
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Compliance Specialists Remind Letting Agents to Meet HMRC Deadline
The real estate industry in the UK is being constantly reminded that the deadline for registering...
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EU Lawmakers to Decide Ban on Large Crypto Transfers from Self-Hosted Wallets
European Union lawmakers will vote on limiting crypto transfers from self-hosted wallets on March...
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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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Cyber Crime Spreads in Australia as COVID-19 Pushes More People Online
The Australian Cyber Security Center (ACSC) revealed that they received one cybercrime report eve...
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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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South Korean Government to Enforce Cryptocurrency Transaction Monitoring in H1 2023
The South Korean government is looking to implement crypto oversight by tracking transactions to ...
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Philippines Directs Efforts & Demonstrates Progress in Resolving AML Concerns
The Asia Pacific Group on Money Laundering (APG) has raised the Philippines’ rating from pa...
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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...
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Ireland Mandates Registration of Crypto Firms Under AML Laws
Ireland has taken new measures to regulate crypto businesses under the AML law for the first time...
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NYDFS Reminds BitLicense Holders to Follow Rules
NYDFS (New York Department of Financial Service) has restated custody and disclosure requirements...
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The Cayman Islands Pleads to be Removed from the FATF’s ‘Gray List’ of Jurisdictions Suspected of Money Laundering
An initiative by the Cayman Islands in France, on June 19th, asked the Financial Authority Task F...
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US Authorities Government Announce Limitations to Crypto Industry to Combat Money Laundering
The US officials stated they will limit cryptocurrency firms’ operation in the country if t...
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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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FINRA Issues its Examination and Risk Monitoring Program Report 2023
FINRA published its 2023 report on its Examination and Risk Monitoring Program, covering all the ...
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UAE Central Bank Imposes Financial Sanctions on Six Banks for CDD Failures
Six banks in the UAE have been issued financial sanctions by the UAE Central Bank for not complyi...
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Instagram is Adding Age Verification to Protect Minors
Instagram is adding age verification in order to provide a safer online community to the minors. ...
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Germany to Implement the 6th AML Directive to Secure Financial Firms
The Federal Government of Germany has decided to draft a law for money laundering operations. Eur...
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New Zealand’s FMA Issues New ID Verification Guideline
A new explanatory note has been issued by New Zealand identifying the sources of information that...
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China Strengthens Anti-Money Laundering Rules for Financial Institutions
China has taken steps to improve financial institutions’ measures to combat money laundering by p...
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DC is the Latest State to Sue Juul over Targeting Minors
The District of Columbia is now the latest state to sue c-cigarette maker, Juul Labs, saying the ...
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FATF to Publish Revised Guidelines For Virtual Assets Service Providers
The Financial Action Task Force is all set to publish updated guidelines on virtual assets on Oct...
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FinCEN and FDIC to Test the Effectiveness of Digital ID Verification Tools
Two federal regulators – the FinCEN and FDIC have called for a ‘tech sprint’ to assess the ...
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Europol Arrests 106 Suspects in Money Laundering, Online Fraud Case
The organised crime operation involved phishing scams and numerous business email compromise atta...
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Facebook affirms Libra commitment with new job openings
According to the Irish Times. Facebook is planning to hire 50 people for its payment app Calibra ...
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Danske Bank Charged with $413m for Defrauding Investors about AML Shortcomings
The Securities and Exchange Commission has charged Danske Bank $413 million for misleading its cu...
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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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Cyberattack Prompts Dallas Firefighter and Police Associations to Demand Identity Theft Protection
It has been three weeks since Dallas’ operations were affected by a municipal network outage. Som...
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FATF to Conduct Checks & ‘Gray List’ Countries to Enforce Crypto AML Regulations
Global financial watchdog FATF has planned to perform checks and ‘grey list’ countries to ensure ...
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Pakistan’s State Bank unveils new AML/CFT regulations for Forex Firms
State Bank of Pakistan on Tuesday amended Anti-money laundering (AML) and Counter Financing of te...
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UAE Issues Guidance to Registered Unlicensed Crypto Firms
UAE’s regulatory authorities stated all unlicensed Virtual Service Providers (VASPs) companies wi...
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Bank of Ghana Proposed Guidelines to Strengthen AML/CFT Regulation
The Bank of Ghana proposed guidelines for banks to enhance the Anti-Money Laundering and Combatin...
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EU and British Financial Watchdogs to Investigate Digital Stock Tokens
The German and British regulators are reportedly investigating the stock token trading, recently ...
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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...
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Feds Uncover $12M Money Laundering Operation Between U.S. and Dubai
Prosecutors have uncovered a money laundering scheme dubbed “The Shadow Exchange” worth USD 12 mi...
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Guyana Joins Sister Caribbean Countries to Stop Money Laundering
“Guyana has joined the Caribbean network to counter money laundering and introduced a global fina...
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FCA Alerts Crypto Firms to prepare for Advertising Rule Change
The UK Financial Watchdog has alerted all Crypto firms to be prepared for advertising rule change...
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FinCEN and OCC Fine Texas Bank $9 Million for BSA-AML Violations
A Texas community bank was fined by the Financial Crimes Enforcement Network (FinCEN) and the Off...
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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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FinCEN Fines Puerto Rican Bank, Bancrédito, $15 Million on BSA Violation
Puerto Rican bank, Bancrédito, was fined $15 million by the Financial Crimes Enforcement Network ...
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EUR 27 Million Worth Crypto Assets Seized by the NCA in Money Laundering Crackdown
NCA seizes crypto assets worth £27m last year in a major money laundering crackdown
Although inst...
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Alfa-Bank to Offer Blockchain-Based Services for the Self-Employed People and Freelancers
Alfa-Bank is one of the largest private commercial banks in Russia which is exploring blockchain-...
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