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

    40.77.167.16

    Latvian State Police Bust a Major Money Laundering Ring

    latvian states

    Latvian State Police has identified and busted a huge criminal gang involved in money laundering. Investigations have revealed the involvement of youngsters including a German citizen. 

    In February, the Latvian State Police Department of Cyber Crimes commenced a criminal proceeding when a Latvia-based credit institution noticed the activities of systematic fraud on their clients’ accounts and passed on this information to the Latvian State Police Department.

    Investigations revealed that the money mules network was working in Riga comprised youngsters between 16 to 20 years old.  These individuals received flash payments on their accounts, and most of the payments came from German citizens. After that, the money from those accounts was quickly withdrawn in cash. It happened around midnight in most of the cases.  

    Victims usually tried to call the midnight transactions the next day. However, the masterminds of the criminal group ensured an immediate money withdrawal, due to which only a few victims could intercept and recover the stolen money by the criminal gang.   

    Latvian police investigated the case and endeavoured to stop this criminal group. They identified the suspect and succeeded after trying for months to sort out the matter. 

    As per the police investigation, 14 members were involved in the criminal group. One of those was a German citizen who coordinated with the group from Germany. The criminal gang used these people to move and receive illegal money. After the withdrawal, the money was given away in virtual currency form.

    After getting the money, the group members distributed the acquired cash among themselves. The money mules got payments from 50 to 250 Euros, depending upon their services. EUR 555 600 in financial crimes was managed to be laundered by the criminal gang. Police detained 13 group members, including the group leader, in April 2020. 

    The German group leader was arrested in May 2022 through a European arrest warrant. The arrest warrant resulted from cooperation between several countries, law enforcement, and special investigations to combat criminal activities. In the summer of 2022, Germany handed over the group leader to Latvia for criminal prosecution.

    The Latvian police department then handed criminal proceedings to Specialized Prosecution Office. State Police stresses to society that such illegal activities through a huge number of willing youngsters to assist criminal gangs is a point to ponder.

    The accused ones who worked as money mules will not only face criminal liabilities but also face difficulties later on because banks close down the access of such people to their accounts and internet banking services. 

    Suggested Read:
    Qatar to Develop National Strategies for Combating Financial Crimes

    Related Posts

    News

    Lloyds Bank Charged with £500K Fine for Breach of Financial Regulatory Standards

    Lloyds Bank corporate markets jersey received a fine of £498,000 in relation to the dealings with...

    Lloyds Bank Charged with £500K Fine for Breach of Financial Regulatory Standards Explore More

    News

    Macau Police Arrests Cross-border Money Laundering Group for Illicit Financing of HK1.1 Billion

    A group of 22 individuals were arrested by authorities in Macau and HK for suspicions of being in...

    Macau Police Arrests Cross-border Money Laundering Group for Illicit Financing of HK1.1 Billion Explore More

    News

    EU Fines Hungary for Declining to Lift Restrictions on Foreign Funded NGOs

    European Union, in Brussels, took an important step to penalize Hungary for not lifting restricti...

    EU Fines Hungary for Declining to Lift Restrictions on Foreign Funded NGOs Explore More

    News

    Singapore Authorities Investigates Bank’s Role in $1.8B Money Laundering Case

    Singapore’s central bank started an investigation against banks involved in a $1.8b global wealth...

    Singapore Authorities Investigates Bank’s Role in $1.8B Money Laundering Case Explore More

    News

    South Korean Government to Enforce Cryptocurrency Transaction Monitoring in H1 2023

    The South Korean government is looking to implement crypto oversight by tracking transactions to ...

    South Korean Government to Enforce Cryptocurrency Transaction Monitoring in H1 2023 Explore More

    News

    Updated Crypto AML Rule in South Korea Set to Take Effect from 25th March

    South Korea’s official financial regulatory body, the Financial Services Commission (FSC), announ...

    Updated Crypto AML Rule in South Korea Set to Take Effect from 25th March Explore More

    News

    President Biden Takes the Reins with Halting Digital Assets’ Rule Making

    Regulatory proposal regarding digital assets has been frozen by President Joe Biden. Biden took h...

    President Biden Takes the Reins with Halting Digital Assets’ Rule Making Explore More

    News

    UK’s FCA Warns Challenger Banks Over Inadequate AML Measures

    The UK’s main financial regulator has warned challenger banks to improve measures for fighting fi...

    UK’s FCA Warns Challenger Banks Over Inadequate AML Measures Explore More

    News

    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...

    MALACAÑANG Orders Relevant Government Agencies to Implement Anti-Money Laundering Plans and Programs Explore More

    News

    FATF Examines Technology use in Making AML/CFT More Effective

    FATF has recognized the importance of combining human input and manual review with automation for...

    FATF Examines Technology use in Making AML/CFT More Effective Explore More

    News

    Bank of Thailand Issues Warning Against Digital Fraud

    The central bank advised individuals not to accept information that appears fake, nor to perform ...

    Bank of Thailand Issues Warning Against Digital Fraud Explore More

    News

    FTX Customers File Class Action Against Bankrupt Crypto Exchange

    FTX customers had filed a class action against the bankrupt crypto exchange and its ex-CEO Sam Ba...

    FTX Customers File Class Action Against Bankrupt Crypto Exchange Explore More

    News

    AML Council to Impose Sanctions on Property Dealers for Non-compliance

    The Philippines’s Anti-Money Laundering Council (AMLC) is all set to impose sanctions and fines o...

    AML Council to Impose Sanctions on Property Dealers for Non-compliance Explore More

    News

    Anti-Money Laundering Initiative in Ireland Extended to Bitcoin

    Cryptocurrency buyers and sellers in Ireland, under the new anti-money laundering regime, will no...

    Anti-Money Laundering Initiative in Ireland Extended to Bitcoin Explore More

    News

    FCA Puts its Foot Down Against Money laundering in Banking Sector

    Financial Conduct Authority, FCA, is taking action against money laundering in the banking and fi...

    FCA Puts its Foot Down Against Money laundering in Banking Sector Explore More

    News

    Guyana Joins Sister Caribbean Countries to Stop Money Laundering

    “Guyana has joined the Caribbean network to counter money laundering and introduced a global fina...

    Guyana Joins Sister Caribbean Countries to Stop Money Laundering Explore More

    News

    Half of Anti-malware Products fail to Recognize Notable Threats

    According to a new report by SE labs, Most popular, well-established cybersecurity solutions do n...

    Half of Anti-malware Products fail to Recognize Notable Threats Explore More

    News

    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...

    Uganda Remains on FATF Graylist for Failing to Curb Money Laundering Explore More

    News

    South Africa Issues Stricter Guidelines for Crypto Traders

    To prevent the surging cases of financial crime, South Africa has introduced rigid regulations fo...

    South Africa Issues Stricter Guidelines for Crypto Traders Explore More

    News

    London’s Bank Sees Rise in Crypto Scams Supposedly Backed By Celebrities

    An alarming surge in reports on crypto scams backed by celebrities is being seen by a major finan...

    London’s Bank Sees Rise in Crypto Scams Supposedly Backed By Celebrities Explore More

    News

    US Courtrooms Ponder Over the Photo ID Requirement for Voters

    The US courtrooms are again facing the debate over the use of photo identification for voters. A ...

    US Courtrooms Ponder Over the Photo ID Requirement for Voters Explore More

    News

    Homeland Security Wants Facial Recognition For All Entering or Leaving US

    The federal government is considering changing airport security in a major way. Facial recognitio...

    Homeland Security Wants Facial Recognition For All Entering or Leaving US Explore More

    News

    $140 Million Stolen as Crypto Gaming Company Gets Hit by Hackers

    VulcanForge is the third cryptocurrency company to be targeted by hackers in just this month, wit...

    $140 Million Stolen as Crypto Gaming Company Gets Hit by Hackers Explore More

    News

    EU Endorses New Crypto Tax Data Sharing Rules

    Strict obligations are set to be implemented in the EU’s digital assets industry. Tax authorities...

    EU Endorses New Crypto Tax Data Sharing Rules Explore More

    News

    TSA to test self-service facial recognition technology in the pilot program

    The Transportation Security Administration (TSA) is now testing self-service facial recognition t...

    TSA to test self-service facial recognition technology in the pilot program Explore More

    News

    AUSTRAC Initiates Probe into Sportsbet and Bet365 over Money Laundering Suspicions

    AUSTRAC launches investigations into gambling firms for suspicions of failing AML/CFT compliance,...

    AUSTRAC Initiates Probe into Sportsbet and Bet365 over Money Laundering Suspicions 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

    One in Three Western Australians Experience Financial Frauds – Bankwest

    Based on reports, every one in three residents of Western Australia has experienced financial abu...

    One in Three Western Australians Experience Financial Frauds – Bankwest Explore More

    News

    UK Authorities Accuse Attorneys of Failure in Combating Financial Crimes

    The UK regulatory authorities asserted that new data revealed prosecutors inadequately comply wit...

    UK Authorities Accuse Attorneys of Failure in Combating Financial Crimes Explore More

    News

    US Justice Department Helps Brazilian Government to Seize $24 Million in Crypto Fraud

    An official request from the Brazilian government was made to the US government for helping to se...

    US Justice Department Helps Brazilian Government to Seize $24 Million in Crypto Fraud Explore More

    News

    ICC Qatar is going to have a seminar on money laundering and terrorist financing

    The International Chamber of Commerce (ICC) Qatar is conducting a compliance awareness seminar on...

    ICC Qatar is going to have a seminar on money laundering and terrorist financing Explore More

    News

    China’s Law Enforcement Authorities Issue Warning Against NFTs to Curb Financial Crimes

    China’s three major banking regulators have issued a warning against non-fungible tokens (NFTs) w...

    China’s Law Enforcement Authorities Issue Warning Against NFTs to Curb Financial Crimes 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

    Denmark’s Gambling Authority Issues Reminder for AML Duties

    All licensed businesses are reminded to report suspicious transactions that may be indicative of ...

    Denmark’s Gambling Authority Issues Reminder for AML Duties Explore More

    News

    Taiwan’s Ministry of Justice Proposes Amendments in AML Laws to Strengthen Fraud Measures

    The Ministry of Justice (MOJ) called for adequate measures in AML compliance and a streamlined sy...

    Taiwan’s Ministry of Justice Proposes Amendments in AML Laws to Strengthen Fraud Measures Explore More

    News

    Japanese Gaming Giant Capcom Fell Victim to Cyberattacks

    The famous gaming giant, Capcom, is being blackmailed by cyberattackers to pay $11 million bitcoi...

    Japanese Gaming Giant Capcom Fell Victim to Cyberattacks Explore More

    News

    One in Three Western Australians Experience Financial Frauds – Bankwest

    Based on reports, every one in three residents of Western Australia has experienced financial abu...

    One in Three Western Australians Experience Financial Frauds – Bankwest Explore More

    News

    Iran’s President Has Called for Legal Framework For Crypto Trading

    Hassan Rouhani, the Iranian President, wants to legalize crypto trading and safeguard national in...

    Iran’s President Has Called for Legal Framework For Crypto Trading Explore More

    News

    Canada Broadens Scope of Anti-Money Laundering and Terrorist Financing Rules

    After Prime Minister Justin Trudeau invoked the Emergencies Act on Monday, 14th February, the Dep...

    Canada Broadens Scope of Anti-Money Laundering and Terrorist Financing Rules Explore More

    News

    Nigerian-Owned Tech Firm, Flutterwave, Closes 45 Bank Accounts Due to Money Laundering

    A group of 2,468 Nigerian nationals accused Flutterwave Payments Technology of defrauding them of...

    Nigerian-Owned Tech Firm, Flutterwave, Closes 45 Bank Accounts Due to Money Laundering Explore More

    News

    Uruguay Faces 3 Obstacles in the Fight Against Money Laundering

    Uruguay’s national secretariat unit, SENACLAFT, revealed three obstacles in fighting money launde...

    Uruguay Faces 3 Obstacles in the Fight Against Money Laundering 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

    U.K Accelerates New Plans to Crack Down on Foreign Money Laundering Activities

    The U.K plans to crack down on money laundering activities, legislate new laws to register foreig...

    U.K Accelerates New Plans to Crack Down on Foreign Money Laundering Activities Explore More

    News

    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...

    New Zealand to Update AML/CFT Regulation ​​from 9 July 2021 Explore More

    News

    HKMA imposed a HK$6 million fine on Commerzbank for AML Failure

    HKMA imposed a HK$6 million fine on Commerzbank for anti-money laundering failure. The bank has b...

    HKMA imposed a HK$6 million fine on Commerzbank for AML Failure Explore More

    News

    Myanmar Promises Improvements after FATF’s Blacklisting

    Myanmar’s central bank has made promises of reforms and issued a warning against currency m...

    Myanmar Promises Improvements after FATF’s Blacklisting Explore More

    News

    CSSF Imposed a €226,000 Fine on Maitland Over AML Compliance Failure

    Maitland Luxembourg SA received a penalty of €226,000 over anti-money laundering and customer due...

    CSSF Imposed a €226,000 Fine on Maitland Over AML Compliance Failure Explore More

    News

    FATF Report Highlights Weaknesses in South Africa’s AML Systems

    South Africa has a solid legal framework to combat money laundering and terrorist financing but h...

    FATF Report Highlights Weaknesses in South Africa’s AML Systems Explore More

    News

    Experts Warn Many Firms Will Face Challenges With Latest FCA UK Crypto Law

    The UK’s Financial Conduct Authority (FCA) updated the crypto industry regulations recently, whic...

    Experts Warn Many Firms Will Face Challenges With Latest FCA UK Crypto Law 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

    FinCEN Implements Stringent KYC Regulations For Digital Wallet

    The USA Treasury Department has proposed KYC- Know Your Customer Regulations for the digital asse...

    FinCEN Implements Stringent KYC Regulations For Digital Wallet Explore More

    News

    The UK Introduces Beneficial Ownership Register for Overseas Entities

    The implementation of the UK government’s Economic Crime (Transparency and Enforcement) Bill has ...

    The UK Introduces Beneficial Ownership Register for Overseas Entities Explore More

    News

    Hong Kong Sees 20-fold Spike in Investment Scam Losses – Report

    According to the Police, 725 cases of investment scams occurred within the first seven months of ...

    Hong Kong Sees 20-fold Spike in Investment Scam Losses – Report Explore More

    News

    Payment Companies Suggest Best Practices To Stay Away From Bank Shutouts

    Payment companies have proposed a set of best practices to avoid bank shutouts by protecting the ...

    Payment Companies Suggest Best Practices To Stay Away From Bank Shutouts Explore More

    News

    GIABA Points Out Gaps in Nigeria’s AML/CFT Framework

    The GIABA report revealed loopholes in the Nigerian AML/CFT framework and called Nigerian law enf...

    GIABA Points Out  Gaps in Nigeria’s AML/CFT Framework 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

    UAE Issues $1.048 Billion Worth of Fines for Money Laundering & Terrorism Financing

    UAE’s Executive Office to Combat Money Laundering and Terrorist Financing has claimed to collect ...

    UAE Issues $1.048 Billion Worth of Fines for Money Laundering & Terrorism Financing Explore More

    News

    BANGKO SENTRAL ng Pilipinas (BSP) Cancels Licences of Two Firms

    THE BANGKO SENTRAL ng Pilipinas (BSP) has cancelled two virtual asset service provider (VASP) fir...

    BANGKO SENTRAL ng Pilipinas (BSP) Cancels Licences of Two Firms Explore More

    News

    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...

    BC Law Society Holds Honorary Consul of Ukraine Accountable for Failure to Prevent Money Laundering Explore More

    News

    Biden Going After Crypto Tax Evaders with Data Sharing Initiative

    President Biden’s administration is proposing global cooperation to curb the threat of crypto-rel...

    Biden Going After Crypto Tax Evaders with Data Sharing Initiative Explore More

    News

    Ex-Microsoft engineer accused of digital currency scam

    Ukrainian citizen, Volodymyr Kvashuk, has been accused of six counts of money laundering, five of...

    Ex-Microsoft engineer accused of digital currency scam Explore More

    News

    South Kesteven Council Strengthens AML Controls for Right to Buy Scheme

    South Kesteven council tightened the anti-money laundering controls over questions raised by buye...

    South Kesteven Council Strengthens AML Controls for Right to Buy Scheme Explore More

    News

    COVID-19 Vaccines at the Risk of being Illegally Obtained by Fraudsters

    There is nothing more awaited than the coronavirus vaccine this year. The international agencies ...

    COVID-19 Vaccines at the Risk of being Illegally Obtained by Fraudsters Explore More

    News

    Jamaica Shows Significant Progress in Anti-Money Laundering Compliance

    Jamaica impressively complied with 37 recommendations from 40 international Financial Action Task...

    Jamaica Shows Significant Progress in Anti-Money Laundering Compliance Explore More

    News

    AMLC Demands Rigid Security Measures for Non-Compliant Businesses in the Philippines

    The Anti-Money Laundering Council (AMLC) is pushing for more strict due diligence measures on del...

    AMLC Demands Rigid Security Measures for Non-Compliant Businesses in the Philippines Explore More

    News

    Kenya’s High Court Freezes Sh15 Billion Over Suspected Crime and Money Laundering

    The High Court of Kenya has frozen more than Sh15 billion over suspected proceeds of Money Launde...

    Kenya’s High Court Freezes Sh15 Billion Over Suspected Crime and Money Laundering Explore More

    News

    Lawrence man indicted of identity theft found guilty

    BOSTON (AP) — A man charged with using another person’s Social Security number to illegally obtai...

    Lawrence man indicted of identity theft found guilty Explore More

    News

    US drug agency failed to properly oversee crypto investigations

    It was published in the IG report, which is an audit of “income-generating, undercover operations...

    US drug agency failed to properly oversee crypto investigations Explore More

    News

    UAE Confiscates Dh4.73 Bn Worth of Assets in Fight Against Financial Crimes

    In the past 12 months, the United Arab Emirates has seized assets worth Dh4.73 billion ($1.29bn) ...

    UAE Confiscates Dh4.73 Bn Worth of Assets in Fight Against Financial Crimes Explore More

    News

    Crypto Scams Reach New Heights in 2020 With $24M Stolen So Far

    Whale Alert alleges that crypto scams are skyrocketing so far in 2020.  A report revealed,scammer...

    Crypto Scams Reach New Heights in 2020 With $24M Stolen So Far Explore More

    News

    EU to Disclose the Names of the Non-Compliant Banks

    EBA, The European Banking Authority is setting up a database to highlight the names of banks and ...

    EU to Disclose the Names of the Non-Compliant Banks Explore More

    News

    The UK Law Firms Approve the Use of AI in AML Armoury

    The Legal Sector Affinity Group is the governing body of all the UK’s legal regulatory and repres...

    The UK Law Firms Approve the Use of AI in AML Armoury 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