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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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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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EU Parliament Committee Backs MiCA Deal to Effectively Manage Crypto
The MiCA deal has been approved by the economic committee of the EU Parliament. The committee has...
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Bermuda Monetary Authority Tightens AML Control as Threat of Money Laundering Increases
Bermuda Island was rated high in the 2020 Money Laundering and Terrorist Financing Risk Assessmen...
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Japan Considers Facial Recognition to Trace Contact at Large Scale Events
According to the Japan Times report, the country is planning to introduce facial recognition at l...
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New Crypto Regulations to be Followed by Korean Banks
South Korea is increasing cryptocurrency regulations by making KYC verification necessary along w...
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Binance’s Regulatory Setback in Singapore Shifts Attention to Middle East
Binance, the world’s largest cryptocurrency exchange, withdrew its application for licence in Sin...
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Danske Bank Expecting Huge Profit Rebound as Money Laundering Case Ends
Danske Bank expects a massive rebound in earnings this year, 2023, after the closure of the money...
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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...
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Moroccan Charity, Najiba Foundation, Faces Account Termination by ING Bank for AML Failures
Internationale Nederlanden Groep (ING) wants to terminate one of the largest Moroccan charity fou...
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The Czech Republic Government Amends Beneficial Ownership Law to Meet AML Obligations
The Czech Republic government revised Beneficial Ownership Law upon the European Commission’...
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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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UK’s Financial Watchdog Goes Real-time to Catch Online Criminals
The FCA is sweeping the internet on a day-to-day basis to pull out cybercriminals, as the number ...
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Credit Suisse Settles French Tax Fraud & Money Laundering Probes for €238 Million
Credit Suisse accepted a settlement of 238 million euros to resolve a tax scam and money launderi...
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Europol Convicts Israel-France Gang on $40 Million Money Laundering Plot
Europol’s joint investigation with French authorities has led to the dismantling of a Franco-Isra...
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Hong Kong to Implement Background Checks for Accounting Students
Police will carry out a detailed background check of the students that plan on pursuing accountin...
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FCA Raises Major Concerns about Investing in Non-Fungible Tokens (NFTs)
The FCA highlighted the significant risk associated with the Non-Fungible Tokens (NFTS) which may...
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American Gaming Association urges policy change on digital payments
The result of a year and half of work, the American Gaming Association has suggested a set of upd...
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Singapore Under High Scrutiny Amid Money Laundering Scandal
Singapore, an immaculate business hub, is under fire for one of the largest money laundering case...
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UAE Central Bank Issues AML/CFT Guidance For Exchange Houses
The Central Bank of UAE (CBUAE) has issued guidance for Licensed Exchange Houses (LEH), keeping F...
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Financial Inclusion Group Proposes User-centric Digital ID, Biometric KYC Policy Model
According to the AFI model, digital IDs and biometric KYC verification must be deployed by busine...
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UK’s FCA Warns Challenger Banks Over Inadequate AML Measures
The UK’s main financial regulator has warned challenger banks to improve measures for fighting fi...
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Macau Police Arrests Cross-border Money Laundering Group for Illicit Financing of HK1.1 Billion
A group of 22 individuals were arrested by authorities in Macau and HK for suspicions of being in...
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FIU to Audit Crypto Exchanges, Aiming to Reduce Money Laundering
Financial Intelligence Unit under Financial Services Commission to audit Korea’s cryptocurrency e...
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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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The Commodity Futures Trading Commission to Regulate the Crypto Market with “Full Oversight Capabilities”
The chairman of the CFTC discussed that his agency would regulate the crypto market. Digital Com...
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Taiwan Finalise New Regulations for Offshore Crypto Exchanges
Taiwan is set to disclose new obligations for offshore crypto exchange companies, with rigid Anti...
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Labor Party Victim of a Second Cyber-Attack
Britain’s Labour Party has informed that it had been a victim of a large-scale cyberattack on its...
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SA’s Healthcare Organizations Become the Latest Prey for Cybercriminals
COVID-19 pandemic has paved the way for cybercriminals to target South Africa’s healthcare organi...
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Brazilian Police Confiscates $33 M in Crypto Money Laundering Probe
Brazilian authorities have seized R$172 million from an investigation carried out into money laun...
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Corrupt Countries Tend to Have a Higher Number of Crypto Users, Says IMF
A recent International Monetary Fund (IMF) study shows that counties that have more corruption ha...
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Rapstar Captured for His Role in Wire Fraud Scheme
A famous rapper from Chicago with his crew members was caught and charged in court for using the ...
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UK to Set up CBDC Taskforce to Analyze the Possibility of ‘Britcoin’
The Bank of England along with the British Government plans to set up a task force to create digi...
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Bank of Ghana to Introduce Digital Currency in ‘Near Future’
The Governor of the West African nation’s central bank, Ernest Addison, announced the news of Gha...
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FinCEN Proposes the Designation of Eligible Customers as Exempt Person
As a part of the Paperwork Reduction Act of 1995, the Financial Crime Enforcement Network (FinCEN...
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Singapore Government Discloses Modified Regulatory Measures for Stablecoins
Singapore’s Central Bank has disclosed upgraded regulatory guidelines for stablecoins to keep cry...
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Belgian Banks to Establish a Platform to Reveal Anti-Money Laundering data
Belgium’s one of the leading bank chain has now suggested developing a platform that will allow p...
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Japan FSA, Central Bank to Assess FI’s AML, Anti-fraud Measures
Reports have revealed that Japan’s FSA and BOJ are seeking to better understand whether the curre...
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CBA Fails to Disclose AML Non-Compliance to Investors, A Court Hears
A court has heard that the CBA should have informed the market that it may have engaged in “law-b...
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US Financial Committee to Investigate Crypto to Combat Terrorist Financing
The US House of Financial Service Committee (FSC) is set to conduct an in-depth investigation of...
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France Ranked Among Countries with Effective Measures to Tackle Financial Fraud
The latest FATF report ranks France among countries that have effective measures in combating fin...
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UAE adopts digital identity and blockchain to fight COVID-19
Taking into account the recent Coronavirus outbreak, UAE’s Ministry of Community Development (MOC...
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SuperCare Health Faces Lawsuit for Having “Incompetent Security Measures” to Stop Data Breach
Plaintiff filed a lawsuit against SuperCare Health in the US Central District of California and a...
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CIBC Fined C$1.3M by Canadian Anti-Money Laundering Authority
Canadian regulatory authorities imposed a $1.3m penalty on the Canadian Imperial Bank of Commerce...
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Nepal Approves Anti-Money Laundering Bill to Comply with International Standards
Nepal endorsed an anti-money laundering bill as the initial step to combat financial crime and en...
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AMLC Continues to Address AML Deficiencies as per FATF Guidelines
The AMLC has reported continued efforts to address the deficiencies specified by the FATF to tack...
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Artist Sues AI Generators for Alleged Industrial-Level Identity Theft
Artist, Karla Ortiz, has sued two artificial intelligence firms for generating images that mimic ...
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SEC Strengthens the Scrutiny on Money Laundering Activities in Malaya
SEC (Securities and Exchange Commission) said financial institutions and lenders are now obligate...
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The UK plans to levy on banks to prevent money laundering
According to Reuters, Britain plans to announce a new levy on banks and other financial instituti...
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UK Authorities Accuse Attorneys of Failure in Combating Financial Crimes
The UK regulatory authorities asserted that new data revealed prosecutors inadequately comply wit...
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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...
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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...
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Australia Risks Damage To Economy Unless Money Laundering Laws are Improved
A Senate committee says that Australia is at risk of damaging its economy if money laundering law...
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Macau Police Arrests Cross-border Money Laundering Group for Illicit Financing of HK1.1 Billion
A group of 22 individuals were arrested by authorities in Macau and HK for suspicions of being in...
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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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FCA Fines ADM Investors for Violating Anti-Money Laundering Regulations
The UK regulatory department Financial Conduct Authority (FCA) fined $7.9 million to the commodit...
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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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AUSTRAC Hits Military Bank with Enforcement Action to Ensure AML Compliance
The financial regulator in Australia has hit the Australian Military Bank with implementation act...
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Interpol Calls for Global Action to Prevent “Ransomware Pandemic”
Interpol has called for united global action to be implemented against ransomware attacks, follow...
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Kazakhstan to Regulate Local Cryptocurrency Businesses
Kazakhstan is tightening its KYC and AML regulations for cryptocurrency exchanges to combat money...
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The Naivas Data Breach | A Wake-Up Call for Firms to Follow Privacy Laws
Naivas, one of Kenya’s largest supermarkets, recently suffered a data breach, highlighting ...
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Denmark’s Gambling Authority Issues Reminder for AML Duties
All licensed businesses are reminded to report suspicious transactions that may be indicative of ...
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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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Illicit Betting Report by the UK’s Gambling Industry Misguided the Regulators
UK’s Gambling Firms are being accused of exaggerating the numbers on the black market betting rep...
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Social Media Firms May Face Parallel Regulation – Says Data Protection Authority
Social media platforms approached the I&B ministry citing apprehension that they may face par...
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Japan Considers Facial Recognition to Trace Contact at Large Scale Events
According to the Japan Times report, the country is planning to introduce facial recognition at l...
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Facebook’s Calibra rebrands to Novi wallet
Facebook subsidiary and Libra wallet provider Calibra, has recently been rebranded to Novi. The n...
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Largest Banking Cooperation in Columbia Busted for Violating Anti-money Laundering Regulations
Banco de Occidente, Columbia’s largest banking cooperation Grupo Aval owned by one of the richest...
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EU to Investigate Google and Facebook’s Data Collection Practices
The European Union has begun preliminary investigations into the data collection practices of Goo...
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First Canadian bank introduces digital ID verification
Digital Identity is progressing in Canada, with a new bank account opening process backed by digi...
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The Rise of FinTech Services can Spur Financial Risk: Says U.S. Bank Regulator
According to the US bank regulator, banks and the fintech alliance for a seamless customer experi...
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FBI and the U.S. Marshals Service Warn of Prevailing Telephone Scams
FBI and the U.S. Marshals Service have warned of prevailing telephone fraud in which callers act ...
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