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$196M Lost in BitMart Hack, Crypto Analysts Warn More Will Come
BitMart, one of the world’s largest cryptocurrency exchanges, lost $196 million in a recent...
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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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Creating UBO Registry ‘Biggest Focus’ for US Treasury’s Anti-corruption Push
As part of the US government’s AML reform plan, an ultimate beneficiary ownership register will b...
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Vietnam Govt to Introduce Crypto Research Group to Evaluate Policy
Vietnam’s Ministry of Finance has plans of establishing a research group with the aim of studying...
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Facial Recognition Market to Grow 12.5% Annually Through 2024
According to a new report by Mordor Intelligence, the facial recognition market is expected to gr...
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Turkish Regulatory Authorities Launch Investigation on Social Media Influencers for Money Laundering
Turkey’s Minister of Social and Labour Security Department stated they are conducting an in-depth...
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Netflix users targetted by scammers during COVID-19 outbreak
According to a security company, Scammers are increasingly using the likeness of online streaming...
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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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Pinterest Enhances Age Verification Measures to Protect Users Under 16
Pinterest reveals a new series of security features to make its platforms secure for teens. These...
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FATF to Reassess Morocco’s AML Measures for Possible Removal from Gray List
The Financial Action Task Force (FATF) is all ready to reevaluate Morocco’s Anti Money Laundering...
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State Street Bank fined $1.24 million for breaching AML laws
The US-based State Street bank has been hit with million-dollar money laundering fine. The Austra...
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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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Hong Kong Arrests 13 in HK$53 million Money Laundering Case
13 people in Hong Kong have been arrested for money laundering and operating illegal gambling sit...
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South Korea to Crush Crypto Ignited Illicit Activities
South Korea has announced to eliminate all cryptocurrency-related illegal activities including mo...
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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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IMF Advocates CBDC and Global Crypto Regulations for Financial Stability
The new policies advocated by the IMF seek to minimize financial risks associated with the global...
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US Government Looking to Develop Vaccine Passports as Proof of Vaccination
The US government is looking to develop a system that would manage the credentials and verify the...
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FinTech and InsureTech Booms in Israel as $120M Raised for Investments
FinTLV, a fund based in Tel Aviv, has announced that it has collected $120 million worth of funds...
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US Treasury Official Urges Iraq’s Central Bank to Act Against Money Laundering
The US Treasury officials stated Iraq’s central bank should design new measures to combat the mis...
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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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Malaysia Leads Southeast Asian Peers in Implementing Anti-Money Laundering and Counter-Terrorism Financing Regulations
Malaysian financial institutes are leading other South Asian countries in complying with anti-mon...
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Jamaica Plans Digital Marketplace to Trigger CBDC Adoption
Jamaica Observer reported that the CBDC project would improve performance metrics related to JAM-...
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Canada Faces 400% Increase in the Cryptocurrency Fraud
The Canadian police department is warning people to protect their personal information and perfor...
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Global regulators propose stricter scrutiny of derivatives clearers amidst deadlock with banks
LONDON – Global regulators have suggested greater scrutiny of clearinghouses managing trill...
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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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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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UAE Delegation to Visit the US to Discuss AML Initiatives
The UAE and the US put forward their efforts to minimize the risks associated with virtual assets...
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U.S. Schools and Colleges Witness a Rise in Data Breaches
Data breaches and cyberattacks continue to grow and now targeting the education sector. Amid the ...
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UK MPs Call for Improved Crypto Regulations to Prevent Losses
Ministers of the UK Parliament are calling for more rigid cryptocurrency regulations from the ASA...
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Money Laundering & VAT Fraud Acquisition Against Lycamobile
A trial for money laundering and value-added tax (VAT) fraud between 2014 and 2016 started on Jun...
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Philippines to Exit FATF Gray List Next Year, Says Governor BSP
Felipe M. Medalla, the governor of BSP, says that the Philippines have one year to exit the FATF ...
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Pokies are Safe Havens for Criminals to Clean Dirty Money – Says NSW Crime Commission
According to findings of a multi-agency investigation released by the NSW Crime Commission, pubs ...
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Credit Cards are Risky for Crypto Transactions, Says Taiwan’s Financial Watchdog
Credit cards should not be used for crypto-related transactions, as stated by Taiwan’s financial ...
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MALACAÑANG Orders Relevant Government Agencies to Implement Anti-Money Laundering Plans and Programs
Aiming to exit the Financial Action Task Force’s (FATF) grey list by January 2024, MALACAÑANG Pal...
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AUD 10 Billion Money Laundering Ring Caught in Australia, Further Highlighting the Country’s AML Failures
AUD 10 billion ($6.5 billion) in global money laundering was allegedly uncovered in Sydney by the...
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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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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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New York Federal Reserve Sued by Puerto Rican Bank For Blocking Service in Venezuela
A Puerto Rican bank has sued the New York Federal Reserve on 25th July for suspending their acces...
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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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UAE Starts to Scrutinize Businesses to Ensure KYC/AML Compliance
The UAE’s Ministry of Economy now starts the inspections of Designated Non-Financial Businesses a...
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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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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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SEC Partners with Government Agencies and Philippines Police to Combat Money Laundering
The SEC signed a data-sharing agreement with the Philippines police and other government agencies...
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California’s EDD is Falling Behind in Legitimate Unemployment Claims
According to a report by Calmatters, California’s Employment Development Department is lacking be...
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Singaporean Banks Enhance Security to Combat Financial Crime
The Monetary Authority of Singapore (MAS) stated that the country’s banks are enhancing security ...
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German Watchdog Extends N26 Measures to Prevent Money Laundering
BaFin, the German financial regulator, stated on July 17th, that it was extending its measures to...
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5 Billion Unique Credentials Circulating on Darknet
According to the report released by security firm Digital Shadows, a total of 15 billion user cre...
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Singapore sees 300% yearly spike in Q1 cryptojacking attacks amid Coronavirus
Data published by Russian cybersecurity firm Kaspersky depicts that Singapore has witnessed a sud...
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Nordic Banks Ignored Money Laundering Red Flags for Years, Leaked Audits Reveal
The Organized Crime and Corruption Reporting Project (OCCRP) has revealed in an audit that Nordic...
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Comparitech Report Ranks Biometric Data Use: China Tops the List
Comparitech, a pro-consumer technology website, conducted a study including 50 countries and thei...
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US Senators Urge CISA to Incorporate Rules for Ransomware Reporting
US senators have urged the CISA to enforce new ransomware reporting rules amid a sharp increase i...
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Crime on the Rise, Mutual Fund Investments Need KYC
Know Your Customer (KYC) is to be implemented on all financial market-related investments. In ord...
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NAB and CBA Exposed Over PNG Money Laundering Case
NAB and CBA have been given a “formal warning” instead of criminal charges, as the PNG regulator ...
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The US Securities and Exchange Commission Identifies AML Failures of US Brokerage Firms
The Securities and Exchange Commission (SEC) has reported that compliance reviews of US brokerage...
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US Judge Approves Danske Bank’s $2 Billion Settlement to End Estonia Probe
A US judge has approved Danske Bank’s guilty plea in a $2 billion pact to end a probe into ...
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Gambling Commission Fines Entain £17m for Social Responsibility & Anti-Money Laundering Failures
Ladbrokes owner Entain has been fined £17m by the Gambling Commission for social responsibility a...
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SEC Ramps Up Efforts to Tackle Identity Theft in the Captial Market
The Securities and Exchange Commission (SEC) has noted that the Identity Management System will d...
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UK Treasury Committee Launches Inquiry into the Role of Crypto Assets and the Associated Risks
The Treasury Committee of the UK’s House of Commons has urged the public to submit their take and...
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ID Theft to Drive Majority of the Online Payment Frauds in 2021
Online payment fraud losses will exceed $206 billion over the next few years and the majority of ...
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Guyana Holds US-Sponsored Conference to Examine Asset Recovery and Money Laundering Issues
The Judiciary of Guyana organised a two-day conference in collaboration with the US Department of...
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US Cybersecurity Head Fired by Trump for Discrediting the Voter Fraud.
Trump has fired the head of cybersecurity, Christopher Kerbs, for beinhg unloyal to the claims of...
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Black Friday Shoppers Alert: Digital Scam Victims Lose an Average of £1,000 Each
Black Friday shoppers have been advised to strengthen their cybersecurity as NFIB revealed that v...
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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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New fake ad alert system launched to fight online scams
According to ITV, the UK Scam Ad Alert tool – developed by the Advertising Standards Authority (A...
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EFCC Warns Financial Crime is Thriving in Real Estate
According to the Economic and Financial Crimes Commission, EFCC, real estate companies are requir...
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Deutsche Bank AG Settles Money Laundering Probe Worth $7.1 Million
Deutsche Bank AG settled a money laundering case of $7.1 million over the probe by Frankfurt pros...
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Philippine Gaming Watchdog to Make Every Effort to Remove From FATF’s Gray List
The Philippine Amusement and Gaming Corporation (PAGCOR) has stated that it will make every effor...
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Deutsche Bank to Revise its Compliance and Risk Management Functions
Deutsche Bank is working on reforming its compliance function and risk management measures. The b...
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Nigeria’s EFCC Devoted to Combating Money Laundering in Real Estate Sector
The Economic and Financial Crimes Commission chairman says that the agency is committed to fighti...
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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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Google to Improve its Compliance Program After BTC-e Data Loss
Google has committed to strengthening its legal compliance program after losing data linked with ...
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Regulators Criticise Deutsche Bank over Forex Mis-selling Probe
ECB and BaFin have told Deutsche Bank that they are “not satisfied” with its probe into mis-selli...
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