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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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UK to End “Golden Visa” Regime to Tackle Money Laundering
The UK is looking to scrap its so-called “Golden Visa” regime in a short period as Russian action...
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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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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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The Cayman Islands Lead Overseas Delegations Discussing Actions to be Removed from FATF’s Gray List
The Attorney General of Cayman, Samuel Bulgin, KC, and the Minister for Financial Services and Co...
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€18 Million of Illicit Cash Flows Undetected Across 25 EU States in Two Weeks
A major customs operation, BELENOS, by the French Customs authorities, has unveiled an illicit fl...
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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...
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Australian Housing is the “Destination of Choice” for Money Laundering – Says Serena Lilywhite
Weak, outdated money laundering and terrorist financing laws are creating havoc in the real estat...
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Economic and Financial Crimes Commission (EFCC) Notifies Estate Agents of Anti-Money Laundering Procedures
The Economic and Financial Crime Commission (EFCC) has instructed estate agents in Port Harcourt ...
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SA Banks at High Risk of Money Laundering & Terrorist Financing, Says Prudential Authority Report
South African banks have moved up into the high-risk category in the new report from the Prudenti...
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Scotland Police Give Warnings Due to the Rise in Cybercrime
Highland Police is taking a major initiative to warn the businesses of a spike in cybercrime and ...
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IRS And Foreign Tax Enforcers Warn of Increasing Money Laundering Risks in NFTs
The IRS and foreign tax enforcers have issued a warning of the increasing risks of money launderi...
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International CBI Sharpen Focus on Due Diligence Procedures in Light of Global Risks
Discussion by renowned experts of major due diligence agencies in the PWM virtual panel highlight...
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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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Twitter Reveals Plans of Addressing Deepfakes
Last month, Twitter announced that it was working on plans to better handle the rising issues of ...
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SEC Updates Regulatory Disclosures for Chinese Issuers Amid Crackdown
Chinese businesses, as per a ruling by the SEC, are directed to present additional disclosures re...
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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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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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China Strides Forwards with New KYC Rules to Rein Money laundering
China is stepping up to fight its long-running battle against financial crimes such as money laun...
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Business Email Compromise Scam Taking a Toll on Businesses
BEC, Business Email Compromise scams are on the rise and they continue to impact businesses. Ther...
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Sberbank Warns Russians; Cybercrime Cost the Nation $49bn in 2020
According to Russia’s largest state-owned bank, Sberbank, the total amount the citizens along wit...
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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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CAMLMAC and UAE Financial Intelligence Unit Join Hands to Fight FinCrime
UAE and China have signed an MoU on August 03, 2021 to combat money laundering and terror financi...
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Caterina Giorgi Demands Age Verification Laws for Online Alcohol Businesses
Caterina Giorgi, CEO of the Foundation for Alcohol Research and Education (FARE), has highlighted...
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Taiwan Initiates Industry Association to Regulate Cryptocurrency Sector
Nine crypto exchange platforms formed a group to create an industry association to regulate Taiwa...
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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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UAE Deploys Hi-Tech Measures to Combat Money Laundering
The UAE has intensified its measures in the fight against money laundering and terrorism financin...
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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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Canada Seeks to Digitize ID-Documents for Enhanced Security Measures
Canada, Ontario’s government is working towards digitizing the identity documents and seeks publi...
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Money Laundering in Ireland Skyrockets as Criminals Move Online
The cases of money laundering in Ireland has more than doubled last year and now it has spiked si...
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Swiss Court Seeks $45m Compensation in Credit Suisse Money Laundering Case
Federal prosecutors in Switzerland are seeking compensation of $45 million in the Credit Suisse m...
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Authorities Warn that the Current Crypto Landscape is Plagued with Scam
According to the Connecticut State Police, the emerging virtual cryptocurrency market is prone to...
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Texans to be Among the Most Affected Nations in Global Cybercrime Operation, Warns FBI
According to the Federal Bureau of Investigation (FBI), Texans are likely to be among nations tha...
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Money Laundering Investigation Leads to Seizure of Canberra Properties, Vehicles, and Cash
Assets worth over $10 million have been seized after an international investigation into money la...
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Ontario Labeled ‘Highly Vulnerable’ to Money Laundering Activities in Cullen Report
The Canadian gambling sector is on its toes after Commissioner Austin Cullen’s report revealed in...
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Thousands of NSW driver’s licenses exposed online in a data breach
Last week, tens of thousands of NSW driver’s licenses were left exposed online. The breach was ac...
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Sri Lanka Central Bank to Take Criminal Action Against Suspects of $47 Million Crypto Scam
The Central Bank of Sri Lanka is considering criminally prosecuting operators of a Sports Chain c...
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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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Taiwanese Crypto Exchange Platform Under Investigation for Money Laundering
Taiwanese crypto exchange platform and a member of the Virtual Asset Service Provider (VASP), Bit...
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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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BC Law Society Holds Honorary Consul of Ukraine Accountable for Failure to Prevent Money Laundering
BC Law Society holds Ukraine’s Honorary Consul accountable for failing to prevent money launderin...
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Money Laundering Watchdog Fines HSBC for AML Violations
HSBC Malta has been fined €82,000 by Financial Intelligence Analysis Unit (FIAU) for AML violatio...
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Global Drug, Money Laundering Hub Busted in Las Vegas
Federal law enforcement officials in Las Vegas have dismantled an international money laundering ...
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Arizona Bank Used to Funnel 11 Million USD in a Money Laundering Scheme
According to Federal prosecutors, a money-laundering scheme has been successful in funneling $11 ...
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EFCC Enforces Real Estate Agents to Comply with Anti-Money Laundering (AML) Regulations
The Economic and Financial Crimes Commission (EFCC) urges real estate agents to strengthen their ...
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Philippine Banks Struggle to Comply with AML Regulations
Philippian banks and financial institutions are struggling with compliances regarding the anti-mo...
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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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Japanese financial watchdog frowns on gambling dapps
Regulators in Japan may be more likely to accept new digital currencies for trading if they have ...
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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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Local Election Officials’ Emails Could be at risk for phishing attempts
Cybersecurity firm Area 1 found 666 of 10,000 election workers used personal email accounts
Accor...
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Mega Bank Fined $10 Million in Fake Mortgage Case
Due to poor internal controls, 28 fraudulent mortgage applications went undetected.
The Financia...
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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...
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USD 10.4 Billion Paid by Financial Groups in 2020 in Regulatory Fines
Know Your Customer and Anti-money Laundering non-compliance penalties rose 26% this year. Many pr...
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US Department Of Justice Announces Enforcement Actions to Regulate Cryptocurrency
The US Department of Justice (DOJ) announced several enforcement actions against cryptocurrency a...
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FCA Reviews UK Small Trade Finance Lenders to Ensure Compliance
FCA is reviewing UK’s small trade finance lenders to assess their due diligence, risk assessment,...
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GFI Study Reveals Weak AML/CFT Measures in Latin America and the Caribbean
The latest study by Global Financial Integrity (GFI) revealed that the Caribbean and Latin Americ...
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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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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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One-third of Finance Firms Have Accelerated Use of AI to Detect Money Laundering
Financial institutions are heavily investing in Artificial Intelligence (AI) and Machine Learning...
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Medical Testing Postpones Money Launderer’s Sentencing
The conviction of Mark Scott, a licensed advocate involved in laundering $400 million for the unp...
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Switzerland Endorses Rigorous AML Measures
Switzerland has introduced new anti-money laundering regulations to bolster financial institutes&...
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FSA Japan Considers Imposing Stricter Regulation on Cryptocurrency
The updated regulation will be designed to provide better protection to Japanese investors.
Accor...
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AMLC Proposing Strict Monitoring Measures for FX Trading To Tackle Money Laundering
The AMLChas increased the monitoring process on FX declarations. All the inbound and outbound cha...
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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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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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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...
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Nigerian House of Representatives Pledges Strict Regulations Against Money Laundering and Terrorism Financing
The Nigerian House of Representatives Committee on Financial Crimes stated they would design stri...
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FATF warns Turkey over Lapses in Money Laundering and Terror Financing
Turkey has been warned by Financial Action Taskforce (FATF) because of its ‘serious shortcomings’...
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House Bill Passed in Philippine to Enforce AML LAW
House of Representatives has approved legal amendments to regulate the developers, metal dealers,...
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Expanding Fraud in Digital Space—Florida’s Government Raises Awareness
The Florida Department of Agriculture and Consumer Services issued a newsletter to alert people r...
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FATF Removes Malta From gray List of Untrustworthy Financial Jurisdictions
After one year of being included in the FATF grey list, the global action committee has voted Mal...
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HM Treasury Consults UK Government on AML Supervision Reforms
HM Treasury announced that a consultation would be conducted concerning AML/CFT supervision refor...
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