The Top 10  Most Difficult Countries for Identity Verification

The Top 10  Most Difficult Countries for Identity Verification

Download Report

    n-img-roi-cross

    Before You Go, Schedule Your Free Demo Today

    Valid Invalid number


    Note: Fields marked with an asterisk(*) are mandatory.

    n-exit-img-roi-cross

    Thank you for your demo request

    We appreciate your interest and look forward to discussing how our solution can meet your needs. Expect to hear from us shortly with scheduling details.

    Close

    Japan Remains Distrustful of Digital Yen Despite its CBDC Research

    Japan remains

    Japan’s Central Bank Launches research on the Central Bank Digital Currency but still remains unsure about the nation’s need for digital yen. Experts are concerned that this undecidedness could cost the country its competitive edge. 

    The Bank of Japan recently began a project to test the feasibility of the Central Bank Digital Currency. The experiment is still in its phase and it might stay for one year.

    The Central Bank has also announced that this project is just a backup and there is still no timeline to implement the official launch of the digital currency. The Bank has made it clear several times that Japan does not need to issue a CBDC. This uncertainty has left some experts feeling impatient in Japan.

    Many experts have claimed that the country will fall behind other nations if they do not hurry up with their decision on Central Bank Digital Currencies and the future of digital currency. 

    “The biggest benefit to introduce CBDC in Japan is to speed up the efforts to shift to a cashless society. Digitalization is inevitable for today’s business, economy and society to increase efficiency, and demand for the currency and payment system tailored for the digitalized world will only grow. Central banks ensure the credibility of the currency. This credibility is crucial in financial systems.” said Takahide Kiuchi, the executive economist with Nomura Research Institute. “A CBDC mobile payment and settlement system will provide the general public with a higher level of reliability, and can advance the transformation of the society that’s lagging behind the other advanced economies.”

    The political experts are also in favour of CBDC issuance, however, they are concerned about the viability of the Japanese Yen and the economic security of the currency on the international platform. 

    The Chairperson of the Digital Currency Forum disclosed that the government and the ruling party has been cautioned about how Japan will fall behind China in digital transformation. China is developing digital currency for seven years now. Even though it has yet to launch the currency, China’s Digital Currency – Electronic Payment (DCEP) project – has succeeded in several rounds of testing through banks, consumers, and retailers for almost a year now. 

    Other than allowing China to enhance its control over the money supply and improved monitoring of financial activities, the digital yuan, known as e-CNY, enables China to have a competitive edge against other currencies in international trade and finance, including the U.S dollar and the Japanese yen.

    Related Posts

    News

    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...

    A Ponzi Scheme of $2.7 Million Unleashed Explore More

    News

    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...

    AUSTRAC Denounces De-banking Practices To Prevent Financial Crimes Explore More

    News

    Satabank Penalized with €851,000 for Non-Compliance

    Financial Intelligence Analysis Unit (FIAU) on Statabank has decided to fine the bank the sum of ...

    Satabank Penalized with €851,000 for Non-Compliance Explore More

    News

    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...

    Vietnam Govt to Introduce Crypto Research Group to Evaluate Policy Explore More

    News

    Dubai Jails 9 and Fines Over Dh15 Million for Money Laundering

    Dubai courts have issued prison sentences to 9 offenders for money laundering. The Emirates conti...

    Dubai Jails 9 and Fines Over Dh15 Million for Money Laundering Explore More

    News

    Austria- The Growing Hub of Cryptocurrency Approves 18 Operating License

    Financial Supervisory Authority like FMA of Austria received requests from forty digital asset pr...

    Austria- The Growing Hub of Cryptocurrency Approves 18 Operating License Explore More

    News

    Tether Executives to Face DOJ Bank Fraud Probe

    Since its inception in 2014, Tether has become the third-largest cryptocurrency platform in the w...

    Tether Executives to Face DOJ Bank Fraud Probe Explore More

    News

    Tech Giant Olympus Hit by Ransomware Attack from ‘BlackMatter’, Successor of DarkSide

    More than 40 ransomware attacks have been attributed to BlackMatter, a ransomware-as-a-service gr...

    Tech Giant Olympus Hit by Ransomware Attack from ‘BlackMatter’, Successor of DarkSide Explore More

    News

    Experts Warn that Scammers are Exploiting EU Users on Meta’s Threads

    Meta’s Threads app has become the newest platform for cyber scammers to commit identity theft, cr...

    Experts Warn that Scammers are Exploiting EU Users on Meta’s Threads Explore More

    News

    UK’s AML Regulations for Art Market Excludes Art Creators

    The UK to implement new Anti-Money Laundering regulation to cover the art market from 10th June 2...

    UK’s AML Regulations for Art Market Excludes Art Creators Explore More

    News

    Kuwait’s Ministry of Social Affairs to Amend the Executive Law to Fight Money Laundering and Terrorism

    Kuwait’s Ministry of Social Affairs is currently reviewing a proposal to amend the executive regu...

    Kuwait’s Ministry of Social Affairs to Amend the Executive Law to Fight Money Laundering and Terrorism Explore More

    News

    FATF Urges Japan to Implement Stronger AML Measures

    The FATF mutual evaluation report on Japan proposes the formation of a joint-agency body to enhan...

    FATF Urges Japan to Implement Stronger AML Measures Explore More

    News

    Sri Lankan Regulatory Authorities Enforce AML/CFT Measures to Avoid FATF Grey and Black List

    The Financial Action Task Force (FATF) started cracking down on Sri Lanka’s financial institutes ...

    Sri Lankan Regulatory Authorities Enforce AML/CFT Measures to Avoid FATF Grey and Black List Explore More

    News

    Bank of Lithuania Revokes License of UK Payments Firm for AML Failures

    Transactive Systems Ltd., which processed more than €1 billion of payments every month, has had i...

    Bank of Lithuania Revokes License of UK Payments Firm for AML Failures Explore More

    News

    Albanian Financial Supervision Authority Approves Crypto Licensing Regime

    Albanian Financial Supervision Authority has approved a licensing regime for crypto exchanges for...

    Albanian Financial Supervision Authority Approves Crypto Licensing Regime Explore More

    News

    Online Gaming Company Fined €386,000 for AML Failings

    Online Amusement Solution Limited, a gaming company, was fined more than €386,000 by the FIAU for...

    Online Gaming Company Fined €386,000 for AML Failings Explore More

    News

    13K Affected in Third-Party Data Breach at Anthem MaineHealth

    A third-party service provider accessed the database of Anthem MaineHealth and obtained patients’...

    13K Affected in Third-Party Data Breach at Anthem MaineHealth Explore More

    News

    UK Regulatory Authorities Warns Crypto Firms to Comply with Latest AML Obligations

    The UK regulatory department, Financial Conduct Authority (FCA), has warned cryptocurrency platfo...

    UK Regulatory Authorities Warns Crypto Firms to Comply with Latest AML Obligations Explore More

    News

    AUSTRAC Outlines Common Reporting Mistakes at Industry Outreach Event

    Australian regulator, AUSTRAC, highlighted important reporting errors in AML/CFT programmes of re...

    AUSTRAC Outlines Common Reporting Mistakes at Industry Outreach Event Explore More

    News

    New York State Department Fines Robinhood $30m for Inadequate AML Compliance Measures

    New York’s top financial regulator has fined Robinhood $30 million for failures and shortcomings ...

    New York State Department Fines Robinhood $30m for Inadequate AML Compliance Measures Explore More

    News

    ABA House of Delegates Amends the AML Model Rule to Curb Financial Crimes

    The House of Delegates amended the ABA Model Rule of Professional Conduct 1.16, which covers decl...

    ABA House of Delegates Amends the AML Model Rule to Curb Financial Crimes Explore More

    News

    ACCC Calls for Heavy Penalties to Make Tech Giants Scam-free

    The Australian Competition and Consumer Commission (ACCC) has demanded severe penalties linked to...

    ACCC Calls for Heavy Penalties to Make Tech Giants Scam-free Explore More

    News

    EMLCU Reviews Egypts Efforts to Fight Financial Crime

    Chairman of EMLCU (Egyptian Money Laundering and Terrorist Financing Combating Unit) Ahmed Saeed ...

    EMLCU Reviews Egypts Efforts to Fight Financial Crime Explore More

    News

    Bitcoin scam exposes thousands to a data breach

    Fraud websites have successfully stolen the personal records of a number of individuals from the ...

    Bitcoin scam exposes thousands to a data breach Explore More

    News

    Philippines’ Anti-Money Laundering Counsel Increases AML Measures for Casino Junkets

    The Philippines’ Anti-Money Laundering Counsel (AMLC) has stated that it is currently impro...

    Philippines’ Anti-Money Laundering Counsel Increases AML Measures for Casino Junkets Explore More

    News

    Sri Lanka’s blockchain KYC platform to initiate ‘Shortly’: Central Bank

    According to Daily Mirror Online, the Monetary Board has now finalized three software development...

    Sri Lanka’s blockchain KYC platform to initiate ‘Shortly’: Central Bank Explore More

    News

    FCA Fines £642K to Sunrise Brokers for AML Failings

    FCA imposed a £642K fine on Sunrise broker for facilitating fraudster trading and having an inade...

    FCA Fines £642K to Sunrise Brokers for AML Failings Explore More

    News

    UAE Confiscates Assets Worth $354 Million to Crack Down on Money Laundering

    UAE stepped up and seized $354 million worth of assets from March to mid-July 2023 in the fight a...

    UAE Confiscates Assets Worth $354 Million to Crack Down on Money Laundering Explore More

    News

    UAE Firms Must Disclose UBO’s to Avoid Dirty Money Watch List

    500,000+ firms in the UAE (United Arab Emirates) face disclosure of their Ultimate Beneficial Own...

    UAE Firms Must Disclose UBO’s to Avoid Dirty Money Watch List Explore More

    News

    Bithumb, Coinone and Korbit Team Up for FATF Travel Rule Compliance

    Bithumb, Coinone and Korbit have founded a joint venture to facilitate all efforts for maintainin...

    Bithumb, Coinone and Korbit Team Up for FATF Travel Rule Compliance Explore More

    News

    Surge in Identity Theft Frauds During Covid-19

    According to new data from the Federal Trade Commission (FTC), identity theft has risen to the nu...

    Surge in Identity Theft Frauds During Covid-19 Explore More

    News

    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...

    China officially recognizes Blockchain jobs as a new occupation Explore More

    News

    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...

    FATF to Reassess Morocco’s AML Measures for Possible Removal from Gray List Explore More

    News

    Founders of US Crypto Firm Charged with Assisting North Korean Hacking Group in Laundering Money

    Two co-founders of the cryptocurrency firm Tornado Cash, Roman Semenov and Roman Storm, were char...

    Founders of US Crypto Firm Charged with Assisting North Korean Hacking Group in Laundering Money Explore More

    News

    Abu Dhabi to Establish Executive Office to Combat Illicit Financial Flow

    A specialised court in Abu Dhabi will be developed to oversee the measures to fight financial cri...

    Abu Dhabi to Establish Executive Office to Combat Illicit Financial Flow Explore More

    News

    Google Pay Transactions Just Got More Secure

    Previously, when you used Google Pay for transactions, it would only ask you to enter your PIN. A...

    Google Pay Transactions Just Got More Secure Explore More

    News

    Gamers Must Be Aware of long-Scale Click Fraud Campaign- Says Microsoft

    Microsoft alerted gamers regarding wide-spreading click fraud. Cybersecurity personals said that ...

    Gamers Must Be Aware of long-Scale  Click Fraud Campaign- Says Microsoft Explore More

    News

    Bulgarian Prosecutors Investigate Crypto Lender Nexo for Alleged Illegal Activities

    Bulgarian officers have launched an investigation against Nexo as the crypto Lender was involved ...

    Bulgarian Prosecutors Investigate Crypto Lender Nexo for Alleged Illegal Activities Explore More

    News

    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...

    Binance’s Regulatory Setback in Singapore Shifts Attention to Middle East Explore More

    News

    AUSTRAC to Update Guidance for Threshold Transaction Reporting

    AUSTRAC has made it mandatory for reporting entities to include a threshold transaction report (T...

    AUSTRAC to Update Guidance for Threshold Transaction Reporting Explore More

    News

    Turkish President Announces New Crypto Bill to Legalize Virtual Assets

    Turkey’s Parliament to announce the cryptocurrency bill in the coming weeks. Legal framework will...

    Turkish President Announces New Crypto Bill to Legalize Virtual Assets Explore More

    News

    German Authorities Shut Down ChipMixer on Suspicion of Laundering $2.9B Worth of Bitcoins

    Law enforcement authorities bring down German-based server ChipMix alleged of laundering $2.9 bil...

    German Authorities Shut Down ChipMixer on Suspicion of Laundering $2.9B Worth of Bitcoins Explore More

    News

    Betting and Gambling Council Host AML Training for Gambling Industry

    During the Gambling Anti-Money Laundering Group (GAMLG) training day on September 6th, the Bettin...

    Betting and Gambling Council Host AML Training for Gambling Industry Explore More

    News

    RBI to Strengthen KYC Guidelines for the Crypto Industry

    IndiaTech has suggested enhancing the KYC guidelines and obligating the cryptocurrency industry t...

    RBI to Strengthen KYC Guidelines for the Crypto Industry Explore More

    News

    China Announces New Office To Combat Money Laundering

    An office devoted to combating money laundering and ensuring financial institutes comply with Ant...

    China Announces New Office To Combat Money Laundering Explore More

    News

    The US publishes a list of North Korea’s supposed Crypto crimes

    The US government, on Wednesday, outlined an aggressive set of countermeasures it said could hamp...

    The US publishes a list of North Korea’s supposed Crypto crimes Explore More

    News

    FATF puts South Africa and Nigeria on Anti Money Laundering Gray list

    The global financial watchdog puts Africa’s two biggest economies on Anti-money laundering grey l...

    FATF puts South Africa and Nigeria on Anti Money Laundering Gray list Explore More

    News

    N1m Fine Imposed on Financial Institutions for Suspicious Transactions Reporting Failing

    A fine of N1m is directed by the Nigerian Government on any financial or non-financial institutio...

    N1m Fine Imposed on Financial Institutions for Suspicious Transactions Reporting Failing Explore More

    News

    The Biggest Software Company in the US under Ransomware Attack on Election Night

    Tyler Technologies in Plano, Texas, was under a ransomware attack last week. The company sells so...

    The Biggest Software Company in the US under Ransomware Attack on Election Night Explore More

    News

    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...

    Largest  Banking Cooperation in Columbia Busted for Violating Anti-money Laundering Regulations Explore More

    News

    KYC/AML and Sanctions fines reach $5.6 billion mid-year for global financial institutions

    The leading provider of digital transformation and client lifecycle management (CLM) solution, Fe...

    KYC/AML and Sanctions fines reach $5.6 billion mid-year for global financial institutions Explore More

    News

    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...

    FATF Removes Malta From gray List of Untrustworthy Financial Jurisdictions Explore More

    News

    Estonia’s New AML/CFT Regulatory Regime Sparks 80% Downfall in Licensed Crypto Firms

    Since May 2023, Estonia’s updated crypto AML/CFT regulations have resulted in an 80% reduction in...

    Estonia’s New AML/CFT Regulatory Regime Sparks 80% Downfall in Licensed Crypto Firms Explore More

    News

    New York State Department Fines Robinhood $30m for Inadequate AML Compliance Measures

    New York’s top financial regulator has fined Robinhood $30 million for failures and shortcomings ...

    New York State Department Fines Robinhood $30m for Inadequate AML Compliance Measures Explore More

    News

    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...

    UAE Establishes Anti-Money Laundering Bodies to Enhance Global Monitoring Explore More

    News

    UAE Central Bank Issues New AML/CFT Guidelines for Licensed Financial Institutions

    CBUAE (Central Bank of UAE) has administered new AML/CFT guidance for Licensed Financial Institut...

    UAE Central Bank Issues New AML/CFT Guidelines for Licensed Financial Institutions Explore More

    News

    Europe Bolsters Fight Against Financial Crime with AMLA Formation

    The European Parliament (EP) and European Union (EU) council teams have agreed to create the Euro...

    Europe Bolsters Fight Against Financial Crime with AMLA Formation Explore More

    News

    Adelaide Casino to Face Court Action Over AML/CTF Violations

    AUSTRAC has revealed the beginning of civil penalty proceedings in the Federal Court against SkyC...

    Adelaide Casino to Face Court Action Over AML/CTF Violations Explore More

    News

    PHL Ranking Declines in the Corruption Index, Reveals GRP

    According to the Global Risk Profile (GRP), the ranking of the Philippines in the corruption inde...

    PHL Ranking Declines in the Corruption Index, Reveals GRP Explore More

    News

    Pakistan Launches Contactless Biometric Verification for Banking

    Pakistan has become one of the first countries in the world to implement biometric verification t...

    Pakistan Launches Contactless Biometric Verification for Banking Explore More

    News

    People’s Bank of China to Monitor Metaverse and NFTs

    The Chinese financial watchdogs are all set to expand cryptocurrency crackdown as Gou Wenjun sugg...

    People’s Bank of China to Monitor Metaverse and NFTs Explore More

    News

    Media Industry Suffer Huge Increase in Cyber-Attacks

    The media industry is increasingly under the threat of cyberattacks. It suffered 17 billion crede...

    Media Industry Suffer Huge Increase in Cyber-Attacks Explore More

    News

    FBI Seizes $1.7M During 3-Month Crypto Operation

    During a 3-month operation from March to May, the FBI seized $1.7m worth of cryptocurrencies, inc...

    FBI Seizes $1.7M During 3-Month Crypto Operation Explore More

    News

    UAE Central Bank Issues New Anti-Money Laundering Guidelines

    The Central Bank stated that all financial institutions have a month to comply with the new AML g...

    UAE Central Bank Issues New Anti-Money Laundering Guidelines Explore More

    News

    FBI Expands its Corruption Unit to Closely Monitor Illicit Activities

    The Federal Bureau of Investigation (FBI) has stepped in, to monitor international corruption by ...

    FBI Expands its Corruption Unit to Closely Monitor Illicit Activities Explore More

    News

    UAE Court Convicted 13 Indian Nationals and 7 Companies for Money Laundering Offenses

    Thirteen Indian nationals and seven companies were charged with money laundering by the Abu Dhabi...

    UAE Court Convicted 13 Indian Nationals and 7 Companies for Money Laundering Offenses Explore More

    News

    Hackers Steal $625 Million from Ronin Network in Largest-Ever Crypto Theft

    Hackers stole approximately $625 million in crypto from the Ronin blockchain and the video game n...

    Hackers Steal $625 Million from Ronin Network in Largest-Ever Crypto Theft Explore More

    News

    Canada loses millions in online scams

    According to CBC News, 6492 incidents of fraud were reported to Edmonton Police last year, result...

    Canada loses millions in online scams Explore More

    News

    NGOs Advised on Due Diligence to Tackle Terrorism Financing

    The Financial Crimes Commission’s SCUML has advised Non-Governmental Organizations (NGOs) to cond...

    NGOs Advised on Due Diligence to Tackle Terrorism Financing Explore More

    News

    Crypto Services Approved Under AMLD5 Regulations by the Dutch Central Bank

    De Nederlandsche Bank NV (DNB) has permitted AMDAX BV the Central Bank of Netherlands to operate ...

    Crypto Services Approved Under AMLD5 Regulations by the Dutch Central Bank Explore More

    News

    China Strengthens Anti-Money Laundering Rules for Financial Institutions

    China has taken steps to improve financial institutions’ measures to combat money laundering by p...

    China Strengthens Anti-Money Laundering Rules for Financial Institutions Explore More

    News

    Banks warned against profiteering from UK coronavirus crisis

    British institutions, including banks, have been urged to avoid profiteering from the Coronavirus...

    Banks warned against profiteering from UK coronavirus crisis Explore More

    Take the next steps to better security.

    Contact us

    Get in touch with our experts. We'll help you find the perfect solution for your compliance and security needs.

    Contact us

    Request demo

    Get free access to our platform and try our products today.

    Get started