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Facebook’s Libra is a Failure in its Current Form says Swiss President
According to the Swiss President, the controversial project by Facebook has ‘failed’ in its curre...
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Regulators Express Concerns on TD Bank’s AML Practices Leading to Merger Termination to Acquire First Horizon Bank
TD Bank was being examined by the Office of the Federal Reserve and the Comptroller of the Curren...
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SRA Receives Fewer AML Violation Reports from England & Wales Despite Sanctions Drive
Anti Money Laundering (AML) violations in England & Wales reported to the Solicitors Regulati...
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Business Registry and FIAU Join Hands to Get Malta Off FATF Grey List
The Financial Intelligence Analysis Unit (FIAU) and Malta Business Registry (MBR) have signed an ...
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New KYC and AML Compliance May Violate Privacy Laws in South Korea
The South Korean government is considering implementing KYC and AML compliance in the region, but...
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Banks Ordered by BSP to Enhance the Filing of Suspicious Reports
MANILA, Philippines – In an attempt to ramp up its fight against financial crimes, the Bang...
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Southern District of New York Alleges Danske Bank against Serious AML Scandal
SDNY sentences Danske Bank with three years of probation on the tale of whistleblowing and mislea...
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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 ...
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US Ambassador Highlights how Liberia can Improve its AML/CFT Laws
Monrovian embassy of the United States’s ambassador, Micheal A. McCarthy, supports the National R...
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Banks Introduce Confirmation of Payee to Tackle Fraud
The Confirmation of Payee (CoP) system was launched in October 2018 but implementation was delaye...
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China Enhances AML Obligations to Combat Money Laundering
Chinese authorities have released the latest guidelines to enhance security in the financial sect...
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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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UAE Central Bank Imposes Dh352k Fine on Currency Exchange
The Central Bank of the UAE has fined an exchange house with a total of Dh352,000 for shortcoming...
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Anti-Money Laundering Initiative in Ireland Extended to Bitcoin
Cryptocurrency buyers and sellers in Ireland, under the new anti-money laundering regime, will no...
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Unlisted Crypto Exchange, JPEX, Investigated for Criminal Charges by SFC
The Hong Kong Security and Futures Commission (SFC) warned an unlisted crypto exchange platform, ...
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Scammers and Hackers Use Cloud Mining to Launder Cryptocurrencies
According to new research, the use of cloud mining methods to conceal crypto funds has intensifie...
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US Attorneys Probe into Binance Money Laundering Violations
US federal prosecutors have reportedly issued subpoenas to several hedge funds connected with Bin...
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U.S States Open up to the Idea of Digital IDs in Post Pandemic World
The ID cards that were used by millions of people as proof of their identity may soon become a th...
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455 Social Media Accounts Flagged for Rolling Out Fake IDs – Europol Reports
455 social media accounts flagged by Europol, which were providing fake identity documents to ill...
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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 ...
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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...
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German Parliament Passes Anti-Money Laundering Laws
On Thursday, the German parliament passed a draft of anti-money laundering measures to make sure ...
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UN Warns of Increased Money Laundering Risk from Mekong Casinos
The UN officials claimed transnational criminal gangs are exploiting Southeast Asia’s gaming and ...
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US Sanctions Russian Crypto Firm Over Ransomware Payments
Suex, a Russian crypto OTC broker, was involved in facilitating ransomware payments and has been ...
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FBI Expands its Corruption Unit to Closely Monitor Illicit Activities
The Federal Bureau of Investigation (FBI) has stepped in, to monitor international corruption by ...
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Vietnam Collaborates with UK to Enhance AML Law Enforcement
The Vietnam Ministry of Public Security delegation, led by Deputy Minister Lieutenant General, Le...
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South Korea Unlikely to Legislate Crypto Regulations Before the U.S – Says FSC
South Korea’s Financial Services Commission focuses the cryptocurrency legislation. According to ...
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Cryptocurrency Fraud Reports to UK Action Fraud More Than Double in 2021
The study advises financial regulators to place more pressure on cryptocurrency institutions to c...
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UAE’s Economic Integration Committee Highlights Files of Mutual Investigation with FATF
In the latest Economic Integration Committee meeting, the UAE’s financial regulatory authorities ...
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Gambling Commission Imposed a £6.1 Million Fine on Touch Games for Money Laundering Failings
The Touch Games, a gambling firm that operates 11 websites, has been fined £6.1 million over fail...
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Tesla Data Breach Leaks Personal Information of 75,000 Customers
Confidential data of approximately 75,735 people, including names, cell phone numbers, and addres...
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Personal Privacy Concerns Raised over FinCEN’s Proposed Crypto Rules
The advocacy group in their latest comment has disregarded the proposed regulatory requirements b...
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Pakistan’s State Bank unveils new AML/CFT regulations for Forex Firms
State Bank of Pakistan on Tuesday amended Anti-money laundering (AML) and Counter Financing of te...
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Saudi Arabia Permits 9 FinTech Companies to Operate in Regulatory Sandbox
The Saudi Arabian Monetary Authority (SAMA) announced that it has allowed nine more FinTech firms...
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UAE Authorities to Coordinate Efforts Against ML/TF Among NPOs
The UAE’s Ministry of Community Development and the Financial Intelligence Unit have established ...
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Central Bank of Nigeria (CBN) Gives Financial Institutions 30 day Deadline to Close Accounts Without Bank Verification (BVN)
Financial institutions and banks have been given a 30 days notice period by the Central Bank of N...
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Failure to Join FATF Will Increase Economic Pressure
According to a top diplomat, Iran’s refusal to comply with the requirements of the Financial Acti...
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Central Valley Towns Become the Hot Spot of Identity Theft
A new report identifies a small number of Central Valley towns with the highest incidence of iden...
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UK FCA Orders Illegal Crypto Service Providers to Shut Down ATMs
The UK’s Financial Conduct Authority has ordered crypto firms operating illegally in the country ...
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UK Watchdog Fines Al Rayan Bank 4M Pounds Over AML Control Failures
FCA, Britain’s financial watchdog, revealed on Wednesday, 11th Jan 2023 that it had imposed...
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UAE and Egypt Collaborate to Fight Money Laundering and Terrorist Financing
UAE has signed MoU with Egyptian Money Laundering and Terrorist Financing Combating Unit to stren...
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Cyprus Makes Progress in Implementing AML Measures
There has been “slight progress” made by Cyprus in implementing anti-money laundering measures, b...
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Canada Seeks to Digitize ID-Documents for Enhanced Security Measures
Canada, Ontario’s government is working towards digitizing the identity documents and seeks publi...
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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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Victor Fredung Warns Businesses about the Rising Cybercrimes During Halloween
Halloween is one of the most awaited festivals throughout the year. While people plan different t...
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Italian Regulators Block Consumers from Investing in Binance
Italy has joined the list of warnings against Binance, directing citizens to avoid investing in t...
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Low-orbit internet banking fraud claim supposed to be a bunch of space junk
A case of supposed low-orbit digital banking fraud has taken a turn, with the US Attorney’s...
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UK Government Aims to Recover £1 Billion Lost Funds Over the Next Decade
The UK Government has put technology as the front and centre force to fight crimes and reinforce ...
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FATF issued guidance on risk-based AML/CFT policies
The Financial Action Task Force has issued finalised supervision on adopting a risk-based strateg...
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UAE Issues a Total of $11 Million in Fines for AML Offenses in First Half of 2022
UAE’s AML task force has imposed fines of over Dh41 million ($11m) in the first six months of 202...
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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...
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OCC, FDIC, & Fed Warn Banks of Significant Risks in the Crypto Industry
Three US banking regulators, the Federal Reserve (Fed), Office of the Comptroller of the Currency...
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Argentina Proposes VASP Registry as Part of Updated AML Law
Argentina is preparing to update its AML and CTF law and has proposed to include a registry for v...
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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...
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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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Bank of England fines Citigroup £44m Over Poor Financial Information
The Bank of England has fined the UK branch of the US bank, Citigroup, a record £44m because the ...
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After China, Japanese Officials Considering to Introduce Digital Currency too
China has begun trials for its digital assets and issued 10 million yuan last week. The efforts o...
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Filipino crypto scammers are impersonating government officials for profit
A Filipino finance entity warns against the supposed crypto Ponzi scheme Bitcoin Revolution, blam...
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Canada Financial Crimes Agency Questioned on Effectiveness of Anti-Fraud Measures
Anti-fraud experts are reporting concerns regarding the Liberals’ newly announced Canada Financia...
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South Africa Must Fix Holes in Money Laundering Regulation by 2025, Warns FATF
South Africa needs to improve its Anti-Money Laundering and Counter-Terrorist Financing regulatio...
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Sam Bankman-Fried Charged with Fraud and Money Laundering, Makes Headlines Again
A federal indictment accusing FTX Co-Founder Sam Bankman-Fried of committing widespread fraud has...
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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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Increasing Use of Cryptocurrency for Money Laundering Causes Concern in the Philippines
The use of cryptocurrency in money laundering is raising alarm for the Philippine Central Cank. T...
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Online fraud attempts increase during COVID-19 catastrophe
According to ACI Worldwide, the rate of fraud attempts have increased to 4.3% in April, slightly ...
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Beverly Hills Store Pleads Guilty to Conspiring with Drug Money Launderers
U.S. Private Vaults, Inc. has pleaded guilty to charges on its Beverly Hills store of conspiring...
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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...
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Iranian Banks in Bahrain to be Prosecuted for Breaching AML Sanctions
Bahrain’s public prosecutor declared that the 13 Iranian banks, including the Central Bank of Ira...
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EBA Issues Guidance on the Roles of AML/CFT Compliance Officers
The European Banking Authority has published guidelines that state the roles of Anti-money launde...
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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...
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FinCEN Proposes Extension in Suspicious Activity Reporting Rules
The US Financial Crimes Enforcement Network (FinCEN) issued a Notice of Proposed Rulemaking (NPRM...
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AML Program Risks Highlighted by the Pandora Papers Scandal
Experts have advised compliance officers to divert their focus on EDD, CDD, and UBO verification ...
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Lawrence man indicted of identity theft found guilty
BOSTON (AP) — A man charged with using another person’s Social Security number to illegally obtai...
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