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Cyprus to Test UBO Registration System for AML Compliance
The government of Cyprus has indicated it will test a system for registering ultimate beneficial ...
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7 UAE Law Firms Penalized in Anti-money Laundering Violations
Around 100,000 dirhams have been fined to 7 law firms in UAE for disregarding anti-money launderi...
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FIAU Slaps Triton Capital Markets Limited with €227,000 Fine for AML/CTF Breaches
The Financial Services Analysis Unit (FIAU) FIAU has fined Triton Capital Markets Limited €227,0...
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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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Online fraudsters steal £17m over COVID-19 lockdown
About £17 million have been lost due to online fraud over the Coronavirus lockdown period with yo...
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Hong Kong Crypto Exchange Platform JPEX Involved in a $178M Fraud
Hong Kong Authorities claimed they received over 23,000 complaints against the Dubai-registered c...
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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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NatWest Apologises for AML Failures and Issues Warning on Rising Inflation
The chairman of NatWest bank has apologised to shareholders for failing to implement adequate ant...
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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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FATF Upgrades Guidelines on Risk-Based Approach for VA/VASPs
FATF (Financial Action Task Force) is upgrading the regulations regarding the risk-based approach...
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AFP Investigates Money Laundering Tactics Employed by Criminals in 2021
The Australian Federal Police is highlighting the hidden channels used by money launderers in 202...
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Binance Expands Footprint in Europe as it Acquires License to Operate in Sweden
The Swedish financial supervisory authority (FSA) allowed Binance to operate in the country, whic...
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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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AUSTRAC Initiates Probe into Sportsbet and Bet365 over Money Laundering Suspicions
AUSTRAC launches investigations into gambling firms for suspicions of failing AML/CFT compliance,...
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US Senators Push Congress to Regulate Crypto Amid FTX Turmoil
US senators have urged Congress to regulate cryptocurrencies under current financial regulations ...
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AML Task Force Samlit Reports Success in Keeping Fraudsters at Bay
SA Anti-Money Laundering Integrated Task Force (Samlit) claims that it is competent in combating ...
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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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Blue Star Planet to Pay £620,000 for AML Failures Uncovered by Gambling Commission
Blue Star Planet which was trading as 10Bet to pay £620,000 ($746,716) after it was found guilty ...
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Florida Man Charged $784 Million in Massive Healthcare Fraud
Creaghan Harry, a man from Florida was indicted of $784 million for committing healthcare fraud a...
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Malta Faces 200% Spike in Money Laundering Cases
Financial Intelligence Analysis Unit (FIAU), Malta’s financial regulator, received a 200% increas...
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Ransomware attacks three US universities
A ransomware group has successfully stricken three universities within the week. They claim that ...
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UK to Apply Digital Identity Verification Across Government Services
Michael Gove, Cabinet Office Minister has written to Whitehall departments about obligating the u...
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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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HSBC Fined £64m for “Unacceptable AML Failings”
HSBC was fined by the UK’s financial regulator for ‘deficient transaction monitoring controls’. W...
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Govt assists Struggling Swiss Crypto Valley
Switzerland’s “Crypto Valley” is in talks with the federal government for fixing a 100 million Sw...
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Real Estate is Becoming a Primary Target for Money Launderers in the UK
According to a government report, Luxury London homes are a new method to launder illicit funds. ...
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UK Government Issues New Guidance On Data Collection Related To Self Custody Crypto Wallets
The government of the United Kingdom is issuing new rules on the collection of data for the crypt...
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Bank of Lithuania Open Probe on UK Fintech over Alleged Money Laundering
Bank of Lithuania is reportedly investigating UK fintech Railsr over Anti-Money Laundering and Co...
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Another Step Taken by the EU to Harmonize AML Rules
The European Banking Authority has proposed new guidance for compliance officers. The attempt is ...
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NAB Chief Urges Government to Reconsider Fines for Large Data Breaches
The Chief of NAB Ross McEwan has urged the government that penalties for data breaches charged as...
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FBI Warns About the Emerging Fraud Related to COVID-19 Vaccine
The Office of Inspector General, U.S Department of Health and Human Services, FBI, and Centers fo...
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Australia DTA Consults on Upcoming “Trusted Digital Identity Bill”
The consultation will facilitate the Trusted Digital Identity Bill, making digital identity syste...
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FinCEN and FDIC to Test the Effectiveness of Digital ID Verification Tools
Two federal regulators – the FinCEN and FDIC have called for a ‘tech sprint’ to assess the ...
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Anti-Money Laundering Laws Require NGOs to Disclose Their Funding Sources
Principal Secretary for Internal Security, Dr Raymond Omollo, has sent a directive to Non-Governm...
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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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EU Parliament Approves More Stringent Rules to Combat Money Laundering and Terrorist Financing
The latest EU Parliament vote approves the formation of a new anti-money laundering authority and...
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NFTs Seek to Implement KYC/AML Standards as Money Laundering Rises
NFTs (Non-Fungible Tokens) are certainly becoming popular in the crypto industry. However, they d...
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FinCEN Shutting the Channels of Financial Crimes Directed through Shell Companies
A major path of money laundering and tax evasion has been shut off by FinCEN with their new regul...
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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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UK’s financial system claims to survive Coronavirus hit
Britain’s banks inform investors that they are optimistic that their balance sheets are strong en...
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FATF Issues Guidance Paper For Incorporating Digital ID
The Financial Action Task Force (FATF) has issued a guidance paper, last week, that outlines a ri...
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Bank of Israel (BoI) Pushes Banks to Accept Crypto Profits
The Central Bank of Israel pushes local banks to un-restrict the cryptocurrency transaction gener...
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Shufti picks up two business awards
October has been an amazing month for Shufti. In September it was nominated for outstanding p...
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Uganda Remains on FATF Graylist for Failing to Curb Money Laundering
Uganda is still under the scrutiny of AML/CFT agencies after failing to enforce regulations in NG...
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U.S. SEC chair nominated to regulate crypto oversight
William Barr, United States Attorney General announced that President Trump is likely to task Jay...
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China officially recognizes Blockchain jobs as a new occupation
The ongoing COVID-19 outbreak is modifying blockchain companies, and its effect is not always neg...
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Swedbank Estonia Reports High-Risk Client for Laundering $2 Billion
Swedbank Estonia labeled one of its clients a “high-risk” company due to suspicious transactions ...
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FCA Declares £147m Fine on Credit Suisse for Due Diligence Failings
Credit Suisse was fined £147,190,200 for breaching FCA’s Principle 2 and 3 for Businesses as it f...
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FATF says governments ineffective in stopping money-laundering
According to David Lewis, Executive Secretary, Financial Action Task Force (FATF), governments ar...
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FATF Publishes Two New Updates on Global ML/TF Risks
FATF, the international group that makes global Anti-Money Laundering and Countering Terrorism Fi...
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Cambodia’s Presence on The Global Watchdog’s Hit List is a Threat to Country’s Reputation- States Deputy PM
Due to the enhanced ratio of financial crimes and human trafficking in Cambodia, the deputy prime...
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FATF to Conduct Checks & ‘Gray List’ Countries to Enforce Crypto AML Regulations
Global financial watchdog FATF has planned to perform checks and ‘grey list’ countries to ensure ...
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New Zealand to Update AML/CFT Regulation from 9 July 2021
Among other changes, reporting entities have been directed to conduct customer due diligence on n...
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The Age Verification Software Market to Experience Tremendous Growth by 2025
The increasing number of scams in today’s virtual world needs a better verification system. Prote...
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Scammers Set to Defraud this Holiday Season, FBI Warns!
This holiday season, New Mexican shoppers are at risk of facing scammers. Criminals are all set t...
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Ring doorbell gives user data to Facebook and Google
Recent investigation suggests that Ring doorbells are exposing the customers’ data to companies s...
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FinCEN and OCC Fine Texas Bank $9 Million for BSA-AML Violations
A Texas community bank was fined by the Financial Crimes Enforcement Network (FinCEN) and the Off...
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Australians Lost a Record Amount of Over $3 Billion to Scams in 2022
The Australian Competition and Consumer Commission (ACCC) revealed that Aussies lost more than $3...
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Conveyancers Used for Laundering Millions of Pounds across the UK
Government warns that hundreds of millions of pounds are being laundered by criminals across the ...
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FATF Publishes 35 New Indicators Against Trade-based Money Laundering
Financial Action Task Force (FATF) and Egmont group has published a new report on risk-indicators...
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A Treasury Unit to Enforce New Anti-Money Laundering Laws in the US
A small bureau of the U.S Treasury Department will take a lead, over the next year, in filling ou...
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Garantex Sanctioned by the US for Laundering Over $100 Million
The US Treasury Department has sanctioned the virtual currency exchange Garantex for facilitating...
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FATF Claims Golden Visa Programs Raise Financial Crimes Activities
The international regulatory body, Financial Action Task Force (FATF), reported that Citizenship ...
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Manitoba Expands Criminal Property Forfeiture Branch to Counter Money Laundering
The Manitoba government is expanding the Criminal Property Forfeiture (CPF) branch as part of its...
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World economic forum considers using blockchain to solve supply chain crisis
The World Economic Forum (WEF) stated on Monday that blockchain and digitization can help supply ...
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Following an FCA Crackdown, Cryptocurrency Investors to Wait 24 Hours Before Completing Their Transactions in the UK
The Financial Conduct Authority (FCA) crackdown forces new crypto investors in the UK to wait 24 ...
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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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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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FCA Issues Report on Progress of Professional Body AML Supervision (OPBAS)
The report has highlighted key areas of improvement, including effective implementation of a risk...
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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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China Pledges “Zero Tolerance” for Financial Fraud
Top financial regulators in China pledged to introduce stricter controls following the recent dis...
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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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