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

    us

    216.73.216.22

    Japan’s FSA Deems Crypto Dealers Necessary for Ongoing AML Efforts

    news 1

    Japan’s federal regulatory authority FSA lays ground for anti money laundering requirements for cryptocurrency exchanges to combat financial crime concerns.

    Junichi Nakajima, the recently appointed commissioner of the Financial Services Agency (FSA), Japan stated that cryptocurrency exchanges and Virtual Asset Service Providers (VASPs) have the same regulatory obligations as banks and other financial institutions to deal with money laundering effectively. 

    As per a statement given by the financial regulator’s chief, Japan is planning to incorporate crypto dealers and businesses offering digital assets as part of the Anti Money Laundering plan to combat criminals and bad actors. He emphasized the motive in these words,

    In the sense that those restrictions are restricted to deal with, cryptocurrency dealers are similar to banks. Since we have the same list of international terrorists, it will be more cost-effective and more accurate if we create a shared system, rather than do it by individual financial firms.

    He further added that FSA aims at making the plan ready for the new platform within a year. On the other hand, the Executive Director and Chief Analyst at Monex Group (Brokerage Division), Nana Otsuki, shared his views that the inclusion of cryptocurrency dealers in a system of this kind would benefit them in the long run. He said,

    In the medium to long term, it is more sustainable if they can eliminate the perception that cryptocurrencies are dangerous financial products with underground funds and turn them into pure investment tools, even though their volatility remains high.

    Otsuki mentioned that for this project to be successful would require administration to pool its resources effectively, develop a framework for cross-government collaboration, and ensuring that individuals having a complex non-Japanese identity are registered  properly in the database.  

    Despite the efforts to address monetary crime concerns, the financial services agency has set up an organised group to carry out research for financial innovation based on bitcoin, blockchain and other cryptocurrencies. 

    Suggested Read: Crypto Bill Approved by the US Congress Set to Revamp Digital Asset Securities

    Related Posts

    News

    Britain Court Urges Binance for Better Financial Crime Prevention

    The Court of London in an order emphasised that Binance should develop policies and procedures to...

    Britain Court Urges Binance for Better Financial Crime Prevention Explore More

    News

    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...

    FIAU Slaps Triton Capital Markets Limited with €227,000 Fine for AML/CTF Breaches 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

    Joint US-Spanish Operation Broke a Multi-Million Euro Credit Card Scam

    The US Secret Service and Spanish police were working together on an operation when they shut dow...

    Joint US-Spanish Operation Broke a Multi-Million Euro Credit Card Scam Explore More

    News

    South Korea to Penalize the Non-Compliant Crypto Companies

    Financial watchdogs in South Korea have announced regulations to prevent financial crimes in the ...

    South Korea to Penalize the Non-Compliant Crypto Companies 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

    Binance Resorts to Shady Crypto Firms as Authorised Options Run Short

    Binance, the global crypto exchange leader, retract to shady asset companies as authorised option...

    Binance Resorts to Shady Crypto Firms as Authorised Options Run Short Explore More

    News

    Zipmex Crypto Trading Platform Suspends All Activities in Thailand

    Zipmex cryptocurrency exchange firm withdrew all activities in Thailand until 31st January 2024 t...

    Zipmex Crypto Trading Platform Suspends All Activities in Thailand 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

    AML Program Risks Highlighted by the Pandora Papers Scandal

    Experts have advised compliance officers to divert their focus on EDD, CDD, and UBO verification ...

    AML Program Risks Highlighted by the Pandora Papers Scandal Explore More

    News

    FIAU Fines Maltese Investment Fund €300,000 for ‘disregard’ of AML Rules

    The FIAU said that Southern Cross Sicav showed ‘disregard’ for its anti-money laundering obligati...

    FIAU Fines Maltese Investment Fund €300,000 for ‘disregard’ of AML Rules Explore More

    News

    Oklahoma Takes Strict Legislative Measures to Prevent Child Identity Theft

    The Senate of Oklahoma has approved a bill to take strict measures against those involved in the ...

    Oklahoma Takes Strict Legislative Measures to Prevent Child Identity Theft Explore More

    News

    Hong Kong Licenses Crypto Exchanges, Limiting Services to Professional Investors

    Digital currency exchanges in Hong Kong will be obliged to apply for a license prior to offering ...

    Hong Kong Licenses Crypto Exchanges, Limiting Services to Professional Investors Explore More

    News

    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...

    China Strides Forwards with New KYC Rules to Rein Money laundering Explore More

    News

    Face Detection Tool to Fight Bots Under Trial by Facebook

    Facebook is currently battling a $35 billion class-action lawsuit for alleged misuse of facial re...

    Face Detection Tool to Fight Bots Under Trial by Facebook Explore More

    News

    New US Legislation Implemented to Enhance Supervision of Cryptocurrency Transactions

    US lawmakers introduced a new bill, the “Off-Chain Digital Commodity Transaction Reporting Act,” ...

    New US Legislation Implemented to Enhance Supervision of Cryptocurrency Transactions Explore More

    News

    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 ...

    ID Theft to Drive Majority of the Online Payment Frauds in 2021 Explore More

    News

    Another COVID-related lure: Phishing Scam Targeting Email Users

    Amid the COVID-19 outbreak, email users are constantly warned against fraudulent emails and scams...

    Another COVID-related lure: Phishing Scam Targeting Email Users Explore More

    News

    The Chinese central bank confirms digital Yuan mobile app trials

    According to a statement, the People’s Bank of China (PBoC) conducts internal tests for the natio...

    The Chinese central bank confirms digital Yuan mobile app trials Explore More

    News

    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...

    SA Banks at High Risk of Money Laundering & Terrorist Financing, Says Prudential Authority Report Explore More

    News

    UK Customers Losse £580m to Identity Scammers in First Half of 2023

    UK Finance disclosed that identity theft is a proliferating scam, and they recorded 1.4m fraud ca...

    UK Customers Losse £580m to Identity Scammers in First Half of 2023 Explore More

    News

    Over 6000 BVNs Under Scrutiny for Fraudulent Transactions, Reveals CBN

    The Central Bank of Nigeria (CBN) has revealed that more than 6000 Bank Verification Numbers (BVN...

    Over 6000 BVNs Under Scrutiny for Fraudulent Transactions, Reveals CBN Explore More

    News

    The Bahamas to Launch a Payment Card for Central Bank Digital Currency

    Bahamas’ Central Bank has joined hands with Mastercard and digital payment startup Island Pay to ...

    The Bahamas to Launch a Payment Card for Central Bank Digital Currency Explore More

    News

    6 members charged with Fraud in China for involvement in Multi-billion Dollar Plustoken Scam

    Six alleged members of Plustokem scam were prosecuted according to the court filing submitted on ...

    6 members charged with Fraud in China for involvement in Multi-billion Dollar Plustoken Scam Explore More

    News

    Former US Bank Risk Officer fined for AML oversight

    Michael LaFontaine, former chief risk officer at U.S. Bank has been imposed a fine of $450,000 by...

    Former US Bank Risk Officer fined for AML oversight 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

    Economic & Financial Crime Bureau Gets Legal Powers as an Independent Authority

    The Economic & Financial Crime Bureau and Financial Intelligence Unit [Bailiwick of Guernsey]...

    Economic & Financial Crime Bureau Gets Legal Powers as an Independent Authority Explore More

    News

    Financial Regulators in Uganda Demands Government to Set Crypto Regulations

    Uganda’s financia regulators, Financial Intelligence Authority (FIA), want the government to take...

    Financial Regulators in Uganda Demands Government to Set Crypto Regulations Explore More

    News

    FIAU Fines iGaming Company Approximately €236,789 for Money Laundering

    The Financial Intelligence Analysis Unit has ordered a Malta-based remote gaming operator to pay ...

    FIAU Fines iGaming Company Approximately €236,789 for Money Laundering Explore More

    News

    Customers warned of scams by the UK banking lobby amid COVID-19

    Banking customers should be aware of fraudsters who are exploiting the COVID-19 epidemic to carry...

    Customers warned of scams by the UK banking lobby amid COVID-19 Explore More

    News

    Crown Resorts Accused of ‘Serious and Systemic’ Money-Laundering Breaches

    AUSTRAC has brought Crown Resorts to court as the casino breached anti-money laundering regulatio...

    Crown Resorts Accused of ‘Serious and Systemic’ Money-Laundering Breaches Explore More

    News

    Ransomeware gang demands $42M or it releases Trumps ‘Dirty Laundry’

    A ransomware gang stole about 1TB of legal secrets from the most important names in the entertain...

    Ransomeware gang demands $42M or it releases Trumps ‘Dirty Laundry’ Explore More

    News

    The State Bank of Vietnam Demands More Freedom and Power to be Granted to the Anti-Money Laundering Bureau

    The State Bank of Vietnam (SBV) requested the government to enhance security by providing more fr...

    The State Bank of Vietnam Demands More Freedom and Power to be Granted to the  Anti-Money Laundering Bureau Explore More

    News

    FATF applauds Korea’s AML and CFT efforts

    According to the FATF, Korea features a sound legal framework to tackle money concealment and ter...

    FATF applauds Korea’s AML and CFT efforts Explore More

    News

    11 Arrested for the First Money Laundering Case Using Digital Yuan

    Chinese security officials have arrested 11 suspects in the first Central Bank Digital Currency (...

    11 Arrested for the First Money Laundering Case Using Digital Yuan Explore More

    News

    FBI Springfield Warns of Growing Fraud Targetting the Elderly

    The FBI has warned people of growing elderly fraud.  As per the Internet Crime Complaint Center&#...

    FBI Springfield Warns of Growing Fraud Targetting the Elderly Explore More

    News

    Real Estate Firm LeHomes Realty Fined $282K for AML Compliance Failure

    Real Estate Firm LeHomes Realty has been fined $282K for AML compliance failure. The brokerage co...

    Real Estate Firm LeHomes Realty Fined $282K for AML Compliance Failure Explore More

    News

    $4.4 Billion Worth Cryptocurrency Stolen in 2019

    The crypto analytics firm, CipherTrace released its Q3 2019 Cryptocurrency Anti-Money Laundering ...

    $4.4 Billion Worth Cryptocurrency Stolen in 2019 Explore More

    News

    FCA Emphasises on Companies to Invest in Compliance Program

    The U.K’s financial crime investigation agency is now taking steps that will involve the companie...

    FCA Emphasises on Companies to Invest in Compliance Program Explore More

    News

    Netflix users targetted by scammers during COVID-19 outbreak

    According to a security company, Scammers are increasingly using the likeness of online streaming...

    Netflix users targetted by scammers during COVID-19 outbreak Explore More

    News

    European Union Drafts Crypto Transfer Legislation to Curb Money Laundering

    The European Union has introduced legislation to identify crypto transfers as part of wider anti-...

    European Union Drafts Crypto Transfer Legislation to Curb Money Laundering Explore More

    News

    Fraudsters are all set to exploit Black Friday sales. Beware!

    Criminals are aware that at this time of the year, shoppers are looking for discounted deals and ...

    Fraudsters are all set to exploit Black Friday sales. Beware! Explore More

    News

    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...

    Thousands of NSW driver’s licenses exposed online in a data breach Explore More

    News

    eCommerce Lost £16 Million in Frauds During Lockdown

    The UK’s national reporting centre for fraud and cybercrime has revealed new figures which show £...

    eCommerce Lost £16 Million in Frauds During Lockdown Explore More

    News

    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 ...

    DIA Warns Auckland Real Estate for Lax Money Laundering Prevention Explore More

    News

    WHO launches blockchain platform to fight COVID-19

    On March 28 the World Health Organization (WHO) collaborated with major blockchain and technology...

    WHO launches blockchain platform to fight COVID-19 Explore More

    News

    Irish Businessmen lost More than €10 Million in Invoice Redirect Fraud

    Sophisticated invoice redirect fraud in Ireland has resulted in the loss of €10 Million for busin...

    Irish Businessmen lost More than €10 Million in Invoice Redirect Fraud Explore More

    News

    Swiss Regulator FINMA Issues DLT Act for Digital Securities Market

    The Financial Market Supervisory Authority (FINMA) introduced regulatory amendments for digital s...

    Swiss Regulator FINMA Issues DLT Act for Digital Securities Market Explore More

    News

    Ransomware gang strikes three companies in the US and Canada

    The well-known ransomware group REvil has initiated another series of attacks targeting three com...

    Ransomware gang strikes three companies in the US and Canada Explore More

    News

    With Rising Fintech Adoption, FI’s are Investing in AI for AML Compliance: Report

    Reduced rates of false positives and the resulting decline in operational costs have caused an in...

    With Rising Fintech Adoption, FI’s are Investing in AI for AML Compliance: Report Explore More

    News

    The Bahamas to Launch a Payment Card for Central Bank Digital Currency

    Bahamas’ Central Bank has joined hands with Mastercard and digital payment startup Island Pay to ...

    The Bahamas to Launch a Payment Card for Central Bank Digital Currency Explore More

    News

    Brazil to Become a Part of OECD and Plans to Launch IPO for Its Digital Bank

    During a virtual event on Tuesday, Paulo Guedes, Brazil’s Minister of Economy, announced that the...

    Brazil to Become a Part of OECD and Plans to Launch IPO for Its Digital Bank Explore More

    News

    Financial Crimes Surged Amid COVID-19, Says FATF

    Financial Action Task Force (FATF) speaks up about the adverse effects of COVID-19 on financial r...

    Financial Crimes Surged Amid COVID-19, Says FATF Explore More

    News

    Norway to Revive Travel by Introducing Vaccine Passports

    By the Summer of 2021, Norway plans to revive travel to and from the country as it joins the list...

    Norway to Revive Travel by Introducing Vaccine Passports Explore More

    News

    “Online Trading Platforms to Become a New Hub for Investment Scams” Warns FCA

    FCA warns that investment scams are increasing in the UK via online means of trading platforms an...

    “Online Trading Platforms to Become a New Hub for Investment Scams” Warns FCA Explore More

    News

    Monetary Authority of Singapore to Take Tougher Action Against Data Breaches

    To address the data privacy concern, MAS has recommended that data privacy offences should be mad...

    Monetary Authority of Singapore to Take Tougher Action Against Data Breaches Explore More

    News

    National Audit Office Plans to Review FCA’s Responsibilities

    The National Audit Office (NAO) plans to assess the Financial Conduct Authority (FCA)’s growing r...

    National Audit Office Plans to Review FCA’s Responsibilities Explore More

    News

    Dutch Authorities Seize $29 Million in Cryptocurrencies After Money Laundering Investigation

    $29 million in crypto were seized over the last few months in money laundering investigations car...

    Dutch Authorities Seize $29 Million in Cryptocurrencies After Money Laundering Investigation Explore More

    News

    Rabobank’s Profits Drop Over Shut Down in Russia and Increased AML Costs

    Dutch Cooperative Rabobank revealed that its profit plunged more than a quarter in the first half...

    Rabobank’s Profits Drop Over Shut Down in Russia and Increased AML Costs 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

    AMLC Freezes Assets of 16 Groups Labeled as Terrorist Organizations

    The Anti-Money Laundering Council in the Philippines has frozen the accounts of 16 organizations ...

    AMLC Freezes Assets of 16 Groups Labeled as Terrorist Organizations Explore More

    News

    SA Government Passes New Legislation to Avoid FATF Gray list

    South African government has passed two crucial legislations to prevent potential greylisting by ...

    SA Government Passes New Legislation to Avoid FATF Gray list Explore More

    News

    UAE Praises Singapore’s S$2.8b Financial Crime Bust

    The director-general of UAE anti-money laundering and counter-terrorism financing commends Singap...

    UAE Praises Singapore’s S$2.8b Financial Crime Bust Explore More

    News

    ABLV Asset Management Fined with €57,217 for AML/CFT Violations

    FCMC (Financial and Capital Market Commission) has enforced a fine of €57,217 on ABLV Asset Manag...

    ABLV Asset Management Fined with €57,217 for AML/CFT Violations Explore More

    News

    Phishing Scam affects thousands of Banking App users

    Thousands of customers have been exploited by a fake mobile banking app. The customers were sent ...

    Phishing Scam affects thousands of Banking App users Explore More

    News

    FinCEN Highlights That AML/CFT Regulation Requires Transformation to Fight Modern Crimes

    The acting director of FinCEN has highlighted the fact that the existing AML/CFT regulatory frame...

    FinCEN Highlights That AML/CFT Regulation Requires Transformation to Fight Modern Crimes Explore More

    News

    UK Cryptos Have Eight Months to Get their AML Measures In Order – FCA

    UK – The Financial Conduct Authority (FCA) has pushed back the end date of crypto company’s...

    UK Cryptos Have Eight Months to Get their AML Measures In Order – FCA Explore More

    News

    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...

    Swedish Legislators Propose an Increase in Money Laundering Penalties for the Gambling Industry Explore More

    News

    FCA Fines Ghana International Bank Over £5 million for Money Laundering Failings

    The Financial Conduct Authority (FCA) has imposed a £5,829,900 financial penalty on Ghana Interna...

    FCA Fines Ghana International Bank Over £5 million for Money Laundering Failings Explore More

    News

    UAE police show how fraudsters can access your bank account

    Abu Dhabi Police has alerted people against the download of unknown apps so they can secure their...

    UAE police show how fraudsters can access your bank account Explore More

    News

    AFP to Crack Down on Italian Money Laundering Syndicates Operating in Australia

    The AFP is set to crack down on Italian organised crime and money laundering syndicates flowing b...

    AFP to Crack Down on Italian Money Laundering Syndicates Operating in Australia Explore More

    News

    Binance to Strengthen KYC Measures & Sanctions Enforcement with New Partnerships

    The global crypto exchange Binance has announced that it will strengthen its KYC controls & s...

    Binance to Strengthen KYC Measures & Sanctions Enforcement with New Partnerships 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