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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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Philippine Senator Files an Anti-Online Gambling Bill Aiming to Curb Financial Crimes
Philippine Senator Joel Villanueva filed a bill imposing a ban on online gambling to prevent fina...
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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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One in Three Western Australians Experience Financial Frauds – Bankwest
Based on reports, every one in three residents of Western Australia has experienced financial abu...
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AML investigation results in NZ police freezing $140 million
Police have collected $140 million from the Canton Business Corporation and its owner Alexander V...
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Banks warned against profiteering from UK coronavirus crisis
British institutions, including banks, have been urged to avoid profiteering from the Coronavirus...
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El Salvador’s Adoption of Bitcoin as Legal Tender Raises ML/TF Risks
El Salvador has become the first country to accept Bitcoin as a legal tender.
On 8 June 2021, El...
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24 scammers arrested on money laundering charges
Government officials have arrested over 24 money laundering suspects due to an online fraud opera...
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Centra Tech’s Operator Sentenced a Year in Prison for ICO Fraud
Robert Farkas has been arrested and charged with the lightest sentenced felony for his part in Ce...
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Job Seekers Face Concerns of Identity Theft Through Fake Employment Scams
Fake employment advertisements defrauded many job seekers with theft of money and personal detail...
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Canada to Establish Beneficial Ownership Registry to Fight Financial Crimes
The Candian Federal budget has brought good news for the supporters of anti-money laundering. The...
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MBSB Bank to Implement BNM’s Requirements for Combating Financial Crimes
Bank Negara Malaysia announced additional security measures for financial institutions to strengt...
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FCA Fines Ghana International Bank Over £5 million for Money Laundering Failings
The Financial Conduct Authority (FCA) has imposed a £5,829,900 financial penalty on Ghana Interna...
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Money Laundering to Remain a Significant Challenge with Spike in Online Crime
Senior officers of Garda have indicated the rapidly rising problem of money laundering as the big...
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Falklands and Gibraltar Still on Spanish ‘Tax Haven’ List, Says Report
The official Spanish Gazette published a list which consists of Falklands/Malvinas and Gibraltar ...
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FINMA Allows Chip Scanning and Geolocation for Digital Customer Onboarding
The FINMA now enables the scanning of microchips inserted in biometric ID documents as an element...
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UAE startup relies on Blockchain to flatten COVID-19 curve
In5, UAE based start-up incubator, is assisting to design blockchain-based techniques to suppress...
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Portuguese Banks Restrict Services for Crypto Exchanges, Citing Risky Grounds
Portuguese banks have restricted services of multiple crypto exchange firms operating in the coun...
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UAE and UK Initiate Large-Scale Crackdowns Against Money Laundering
The UAE has set up an AML task force that is currently pursuing hundreds of cases, and Cambridges...
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MENAFATF Adopts Abu Dhabi Recommendations to Counter Money Laundering and Terrorism Financing
An international group based on the FATF format, MENAFATF, has adopted the Abu Dhabi recommendati...
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Swiss Prosecutors Open Probe Against “Suisse Secrets” Whistleblower
The Swiss Prosecutors have launched an investigation, not after the bank but against the Suisse S...
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UAE Levies Charges Over DH115 Million to Combat Money Laundering
A total of Dh115 million ($31.3 million) has been fined by the UAE in its efforts to impede money...
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Tesla Data Breach Leaks Personal Information of 75,000 Customers
Confidential data of approximately 75,735 people, including names, cell phone numbers, and addres...
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Money Laundering and Drug Trafficking Account for Illicit Flow of US$ 1 Billion into Jamaica Annually
Reports have highlighted that money laundering, drug trafficking, and cybercrimes account for the...
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President Biden Takes the Reins with Halting Digital Assets’ Rule Making
Regulatory proposal regarding digital assets has been frozen by President Joe Biden. Biden took h...
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Kyrgyzstan to Regulate Cryptocurrency for it be Recognized Legally
Central Bank in Kyrgyzstan has given out recommendations for regulating the crypto industry and g...
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Cayman Island Businesses Urged to Maintain Beneficial Ownership Information
Cayman companies are urged to maintain beneficial ownership information in accordance with intern...
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UK Parliament Legislates New Digital Identity Verification Services Bill
On Wednesday, in the King’s Speech, the UK government presented a new Digital Identity Verificati...
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The Biggest Software Company in the US under Ransomware Attack on Election Night
Tyler Technologies in Plano, Texas, was under a ransomware attack last week. The company sells so...
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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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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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2 Men & 5 Companies to Face Trial for €20 Million Money Laundering Case
A magistrate has found substantial evidence of two Libyan men and five companies involved in laun...
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Silly Season Scams to Rise as AFP Forewarns Fake Delivery Texts
The Australian Federal Police (AFP) has warned of fake delivery texts. Scammers use legitimate-lo...
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DFSA and Financial Intelligence Collaborate to Combat Financial Crime in UAE
Memorandum of Understanding (MoU) between the Dubai Financial Services Authority (DFSA) and the F...
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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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US Army to Adopt Facial Recognition Technology for Securing Military Base
United States Army is looking to apply face recognition technology on their military base to imme...
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CFTC Fines CHS Hedging for AML and Other Violations
The Commodity Futures Trading Commission (CFTC) has fined CHS Hedging a civil monetary penalty of...
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Uganda Remains Greylisted by FATF for Money Laundering
There will be no change to Uganda’s status on the “grey list” due to the countr...
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Silly Season Scams to Rise as AFP Forewarns Fake Delivery Texts
The Australian Federal Police (AFP) has warned of fake delivery texts. Scammers use legitimate-lo...
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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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FCA Hints Why only 15% of Crypto Firms Received Regulatory Approval
The UK financial watchdog has approved only 41 registration applications of crypto firms out of 3...
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Qatar to Develop National Strategies for Combating Financial Crimes
Qatar has developed vigorous strategies to combat expected financial crimes during the FIFA World...
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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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Banks Introduce Confirmation of Payee to Tackle Fraud
The Confirmation of Payee (CoP) system was launched in October 2018 but implementation was delaye...
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Home Office Reveals 20% of UK Businesses are Affected by Fraud
An extensive survey of thousands of businesses between 2018 and 2022 determined that one in five ...
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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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UK Launches New Crypto Asset Promotion Rules
The UK’s latest obligations on the promotions of the crypto service providers came into force thi...
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Jamaica Passes a New Bill to Counter Money Laundering
The Senate has approved the Company (Amendment) Act 2023, which will enable Jamaica to meet inter...
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Enhanced AML/CFT Framework Pays Off – Mauritius Off FATF’s Grey List
Implementing an enhanced AML/CFT framework brings terrific news for Mauritius as they are off FAT...
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AML/KYC Non-compliance Penalties Drop by 40% in the Second Half of 2021
KYC/AML non-compliance penalties have dropped by 40% in the second half of 2021. However, this do...
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FATF to Blacklist Myanmar Over Money Laundering Concerns
Myanmar faces a blacklisting threat by a FATF because of AML compliance failure and weak regulati...
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New South Wales (NSW) Government to Make Poker Machine Reforms after Victoria Introduces Strict Anti-Money Laundering Restrictions
The New South Wales (NSW) government of Australia continues to pressure gambling companies to str...
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Ransomware attack exposes 1.5TB of stolen aerospace data
ST Engineering Aerospace’s US subsidiary experienced a ransomware attack that extracted about 1.5...
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BitGo settles with US Treasury; Sanctions Violations will Cost $98,830
The U.S. Treasury has settled with BitGo over costs that it helped users in authorised divisions ...
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Cybercrime to Surge in Cryptocurrency Even in Post COVID-19 Economy
According to a report by Kaspersky Lab about cybersecurity and antivirus, in the post-COVID-19 wo...
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Mishcon de Reya fined £232,500 for AML Failures
London’s leading firm, Mishcon De Reya has been fined EUR 232,500 over failing Anti-Money Launder...
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UAE Authorities to Coordinate Efforts Against ML/TF Among NPOs
The UAE’s Ministry of Community Development and the Financial Intelligence Unit have established ...
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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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US Seizes 18 Crypto ATMs Bought With Fraudulent Loans
US law enforcement has seized 18 cryptocurrency automated teller machines previously purchased vi...
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FATF Highlights the Gaps in New Zealand’s AML Measures
Financial Action Task Force (FATF) has issued a report on New Zealand’s measures to combat money ...
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AML Program Risks Highlighted by the Pandora Papers Scandal
Experts have advised compliance officers to divert their focus on EDD, CDD, and UBO verification ...
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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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SEC Orders Finance, Lending Companies to Submit AML Plans by 21 June
Philippine’s SEC has ordered all financing and lending companies to submit their plans for the im...
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FATF Urges Member Countries To Lead by Example in Implementing Travel Rule
The global financial watchdog FATF has urged countries to implement the travel rule in the legisl...
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UAE Grants Russian Lender a Rare Banking Licence to Operate in the Region
The CBUAE has approved a banking licence for Russia’s MTS bank, a move that risks deepening...
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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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Scottish Firm Blacklisted by the World Bank for Fraudulent Practices
An anonymously owned Scottish firm has been blacklisted by the World Bank for being involved in f...
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Chinese Bank trials the test interface for PBoC’s Digital Currency
One of China’s largest state-owned banks, the Agricultural Bank of China (ABC) is testing a new i...
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$2 Trillion Moved and Now Banks Resist Money Laundering Orders
According to the ICIJ journalist, BuzzFeed shared some documents disclosing the attitude of finan...
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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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Financial Watchdogs in South Korea Add Guidelines for Crypto Transactions
Financial Watchdogs in South Korea will now oversee the activities regarding crypto in the countr...
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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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