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FinTech Market Gaining Traction in Asia, Slowing Down in US
The Financial Technology (FinTech) market is booming in Asia, especially in China according to a ...
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SRA Fines Scarborough Law Firm for Long-term AML Compliance Failures
The Solicitors Regulation Authority (SRA) has fined Scarborough law firm Pinkney Grunwells Lawyer...
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Media Industry Suffer Huge Increase in Cyber-Attacks
The media industry is increasingly under the threat of cyberattacks. It suffered 17 billion crede...
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New AML Reforms ‘Tranche 1.5’ Take Effect in Australia
In an attempt to streamline customer verification and correspondent banking, AUSTRAC has issued r...
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1.6M Unemployment Claim Filers Exposed Due to Data Breach
The Washington State Auditor’s Office has investigated an incident that has exposed the personal ...
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California university pays a million-dollar crypto ransom
As per reports, the University of California reportedly paid a huge ransom of $1.14 million in cr...
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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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UK Regulatory Authorities Warns Crypto Firms to Comply with Latest AML Obligations
The UK regulatory department, Financial Conduct Authority (FCA), has warned cryptocurrency platfo...
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Australian Regulators Seeking to Implement Travel Rules for Cryptocurrency
Australia is looking at the laws that would require cryptocurrency providers to record the inform...
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Sweden Points Out the Rising Cases of Money Laundering in Gaming Industry
Financial Police of Sweden has revealed a report that highlights more than 700 cases of money lau...
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Facebook and LinkedIn follow Twitter’s suit demanding Clear view AI to stop scrapping user images
The previous month, after NewYork Times’ critical report on the facial recognition tech of Clearv...
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G20 regulator warns countries to alleviate risks of Libra-like stablecoins
The Financial Stability Board (FSB) has alerted national regulators to gauge standards and tackle...
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Hong Kong Launches Meta Verse to Combat Crypto Crime
CyberDefender Metaverse is the first metaverse platform launched by Hong Kong Police to combat cr...
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Increasing Incidents of Fraud Becoming a Threat to UK’s National Security: UK Finance
Automated systems prevented approximately 736 million pounds ($1 billion) from being stolen throu...
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Research for Implications of CBDC on the Rise in Australia
As of the November 2 announcement of the Reserve Bank of Australia, the country has partnered wit...
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Chinese Authorities Bust 93 for Crypto Money Laundering Worth RMB 40 Billion
Chinese Authorities in the Hunan province have busted a criminal ring of 92 individuals for alleg...
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EU Parliament Reaches Provisional Agreement on Extending Rules for Crypto Assets
The Council Presidency has reached a provisional agreement with the EU Parliament regarding the r...
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UAE central bank alerts about fraud attempts related to Coronavirus epidemic
Bank customers are warned of potential fraud by the UAE Central Bank. According to the bank, “Fra...
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Amendments to ‘Trust Property Control Act’ May Still Require Revisions
FISA (Fiduciary Institute of Southern Africa) and other notable trust law experts have expressed ...
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Amendments in Thailand’s Money Laundering Act to Include New Offenses
A proposed amendment in Thailand’s Money Laundering Act was approved by the cabinet to include ad...
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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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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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UK Approves New Bill to Enhance Security in the Cryptocurrency Sector
The UK government has approved a bill to grant power to the authorities to seize cryptocurrency p...
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UAE Establishes Anti-Money Laundering Bodies to Enhance Global Monitoring
The United Arab Emirates is enhancing its money monitoring system to combat illicit cash flows, m...
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UK Fines Dixons Carphone for Massive Breach
Dixons Carphone is one of the largest electronics and phone retailers in the UK. Recently British...
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Russians Turn To Crypto As the West Imposes Financial Sanctions
Data has shown that Russians are turning towards transactions in cryptocurrency as a result of we...
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Coronavirus affects challenger banks as app downloads decline
According to Finbold, top challenger banks in the United Kingdom have noticed a sudden decline in...
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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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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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A Ponzi Scheme of $2.7 Million Unleashed
According to the U.S Department of Justice, a former attorney from Allentown was sentenced to six...
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New Zealand Encounters Spike in Online Identity Theft
Recent research of New Zealand’s financial market has shown a spike of 86 percent in identity fra...
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United Kingdom watchdog puts pressure on Deutsche bank
According to the Financial Times, the United Kingdom financial regulator has censured the Deutsch...
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BaFin Demands Deutsche Bank to Tighten its AML Controls
The financial regulatory authority in Germany, BaFin (Federal Financial Supervisory Authority) ha...
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Latvia’s Bank Rietumu Fined EUR 5.85M Over Money Laundering Failures
The Financial and Capital Market Commission has fined Bank Rietumu EUR 5.85 million over failures...
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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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China’s Central Bank Fines ICBC & Bank of Chongqing for AML Shortcomings
Chinese banks including industrial and commercial banks of Chongqing have been fined by regulator...
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Shufti Nominated for Yalla Fintech 2020 Award
Shufti, an identity verification service provider offering KYC verification and AML screening...
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Japan: FSA Sets a Firm Deadline For FI to Ensure Full AML/CFT Compliance
Japan’s Financial Services Agency (FSA) has strictly directed financial institutions to devise a ...
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Paraguay- Brazilian Bank Fined Heavily for Anti-money Laundering Non-compliance.
A major Brazilian Bank in Paraguayan has been sanctioned by the Paraguayan government. Latin Amer...
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Australian Federal Police Issues Warning on Valentine’s Day Financial Scams
Australian authorities have warned the public of new Valentine’s Day scams aimed at singles...
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Increasing Use of Cryptocurrency for Money Laundering Causes Concern in the Philippines
The use of cryptocurrency in money laundering is raising alarm for the Philippine Central Cank. T...
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UAE Adopts Facial Recognition for ID Verification Instead of Emirates ID Card Readers
Facial recognition instead of Emirates ID card readers will now verify identity.
The Federal Auth...
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Crypto firms Halt Business in China After an Intense Government Crackdown
Cryptocurrency businesses have stopped their operations after the government led an intense inves...
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Asia/Pacific Group on Money Laundering Releases 2021 Typologies Report
The report has highlighted areas of high priority that need further study and the risks associate...
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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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Singapore’s Public Warned Against the Highly Volatile Crypto World
Singapore’s financial regulators once again warn their public about the risks of the cryptocurren...
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US DOJ Arrests Two in Alleged NFT Money Laundering, Rug Pull Scheme
The US Department of Justice has arrested two in a $1.1 million non-fungible token fraud and mone...
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SFC Imposed a HK$9 Fine on RIFA Future for KYC Failings
RIFA Limited was charged by the domestic regulatory authority of Hong Kong, the Securities and Fu...
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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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Gibraltar financial watchdog issues warnings for four crypto sites
The Gibraltar Financial Services Commission, or GFSC, on June 5th, issued four public warnings to...
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Panama & the Cayman Islands’ AML Efforts May Lead to Removal From FATF Gray List
According to the Paris-based watchdog, Financial Action Task Force (FATF), Panama and the Cayman ...
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The market for Digital Identity Solutions expected to double by 2024
The market for Digital Identity Solutions is predicted to double between 2019 and 2024, as report...
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Australia, Singapore, Malaysia, and RSA Team Up for CBDC Trials
Central banking entities of Singapore, Australia, Malaysia, and South Africa agree on a mutual ag...
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Signature Bank under Criminal Investigation
US prosecutors are investigating the relation of Signature Bank with crypto clients as regulators...
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US Treasury Launches New Financial Force to Combat Illegal Fentanyl Trade
The US Treasury Department has announced the launch of the Counter-Fentanyl Strike Force to comba...
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Cybercriminals demanded $3 million ransom from Travelex
The hackers behind a cyber attack on a foreign exchange firm Travelex ordered to pay $3 million r...
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Ransomware attack targets Victoria Beckham’s personal data
Maze, the Ransomware gang strikes again. It seems that the victim this time is a US-based indepen...
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UK Government to Crackdown Corruption Under New AML laws
Overseas firms owning land in the UK need to publicly declare the owners, under the new UK laws t...
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DIA Warns Auckland Real Estate for Lax Money Laundering Prevention
The department of Internal Affairs has issued a formal warning to Auckland’s real estate company ...
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Leaked Draft: EU Plans to Ban Privacy Enhancing Crypto Coins
CoinDesk has received a leaked draft of the money laundering bill, disclosing plans of the Europe...
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Wealthy Americans Targeted by U.S. in Panama Tax-fraud Probe
Financial authorities in the US obtained a legal mandate to acquire information about wealthy cit...
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SEC Unfolds Strict Regulations to Prevent Financial Crimes in Stock Market
SEC (Securities Exchange Commission) is to implement tough regulations to prevent money launderin...
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AUSTRAC Denounces De-banking Practices To Prevent Financial Crimes
AUSTRAC stated that de-banking is a complex global problem as it multiplies the risks faced by fi...
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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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US Financial Authority Removes Provisional Crypto AML Regulations
The United States government removed two provisions from the National Defence Authorisation Act (...
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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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National Assembly Passes Revised AML Law and Thrift Practice Resolution
The National Assembly (NA) has passed the revised law on Money Laundering Prevention and Control ...
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Shufti Nominated for Yalla Fintech 2020 Award
Shufti, an identity verification service provider offering KYC verification and AML screening...
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The Biggest Theft in Crypto History: $600 Million Stolen
Binance and Tether have also joined the recovery plan to help minimize the consequences of the at...
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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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UK watchdog allows credit card and loan payment holidays to customers
The Financial Conduct Authority (FCA) has instructed top banks to offer three-month payment holid...
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Jamaican Senate Approves Order to Combat Money Laundering
The Jamaican Senate recently approved the Proceeds of Crime (DNFBPs)(TCSPs) Order, 2022, which is...
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