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“Student” Occupation Flagged for Money Laundering in Canadian Real Estate
Son of “wanted for defrauding 60,000 investors” Chinese parents laundered millions of dollars int...
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France to Consider Amendment Obliging Crypto Firms to Obtain Licenses
In January 2023, the French Parliament will consider the amendment to cancel the favorable treatm...
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Europol Convicts Israel-France Gang on $40 Million Money Laundering Plot
Europol’s joint investigation with French authorities has led to the dismantling of a Franco-Isra...
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The Anti-Money Laundering Solution Market is Expected to Double by 2025
According to the latest AML solution market report 2020-2026, the post coronavirus pandemic had a...
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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 ...
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FCA Issues Warning About 100+ Unregistered Crypto-asset Firms
111 unregistered crypto-asset firms are operating from the UK. FCA warns consumers, banks, and pa...
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Singapore Monetary Authority to Review Rising Card Scam Cases
The Monetary Authority of Singapore (MAS) is reviewing the liability framework for card scams, gi...
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Coronavirus outbreak exploited by internet scammers
Americans are advised to stay watchful of cybercriminals’ attempts to misuse the life-threatening...
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Global OCR market expected to reach $70 billion by 2030
The global OCR market is expected to grow at the CAGR of 15% from 2020 to 2030, reaching USD 70 b...
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Homeland Security expects to have biometric data on nearly 260 million people
The US Department of Homeland Security (DHS) will soon have face, fingerprint and iris scans of a...
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Falklands and Gibraltar Still on Spanish ‘Tax Haven’ List, Says Report
The official Spanish Gazette published a list which consists of Falklands/Malvinas and Gibraltar ...
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2 Men & 5 Companies to Face Trial for €20 Million Money Laundering Case
A magistrate has found substantial evidence of two Libyan men and five companies involved in laun...
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Rapstar Captured for His Role in Wire Fraud Scheme
A famous rapper from Chicago with his crew members was caught and charged in court for using the ...
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Japan Calls for Disclosure of Major Company Shareholders
Japan’s Ministry of Justice will require firms to submit details of their major shareholders, als...
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US Government to Establish New Corporate Transparency Act Regulations to Verify UBOs
The US government is ready to change the process of reporting beneficial ownership. The final rul...
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UK Exposed to Significant Trade-based Money Laundering Risks Post-Brexit
Risks related to trade-based money laundering in the UK are expected in the upcoming years, accor...
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Former NFL Player Guilty of Identity Theft, COVID-19 Relief Fraud
Ex NFL player has been found guilty to one count of unauthorized access device fraud and one coun...
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New US Legislation Implemented to Enhance Supervision of Cryptocurrency Transactions
US lawmakers introduced a new bill, the “Off-Chain Digital Commodity Transaction Reporting Act,” ...
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Belgian Banks to Establish a Platform to Reveal Anti-Money Laundering data
Belgium’s one of the leading bank chain has now suggested developing a platform that will allow p...
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Central Bank of UAE Penalized Exchange House Dhs504,000 for AML/CFT Breach
UAE’s exchange house has weak measures to fight money laundering and terrorism financing and requ...
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UK has Suffered Fraud and Cyber Crime Losses Worth £1.3 Billion in 2021
London incurred the highest amount of losses to cybercrime and fraud in the first half of 2021, a...
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London’s Mayor Assures of the Strong Regulations Despite Brexit
Bankers in the UK are looking towards the leniency in regulations and tax cuts due to Brexit. How...
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Manchester Police Retrieves & Returns $23 Million Stolen Crypto Assets to Scam Victims
Manchester police have confiscated over $25 million worth of crypto that were stolen globally in ...
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Money Laundering in Ireland Skyrockets as Criminals Move Online
The cases of money laundering in Ireland has more than doubled last year and now it has spiked si...
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FATF Issues New BO Requirements to Address Pandora Papers
While addressing the Pandora Papers, the Paris-based global financial watchdog, FATF, has issued ...
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North Korean bankers charged in $2.5 billion money-laundering scheme
The US Department of Justice recently revealed criminal charges against about twenty-four North K...
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Singapore Monetary Authority to Review Rising Card Scam Cases
The Monetary Authority of Singapore (MAS) is reviewing the liability framework for card scams, gi...
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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...
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EU Legislation Bans On-cash Deals Over €10,000 Due to Money Laundering Threats
The European Union’s ban on cash payments over €10,000 for transactions such as car payments is e...
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UK’s National Audit Claims FCA Takes Slow Crypto Enforcement Actions
The UK’s National Audit stated that the Financial Conduct Authority (FCA) has all the rights to c...
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Australian Housing is the “Destination of Choice” for Money Laundering – Says Serena Lilywhite
Weak, outdated money laundering and terrorist financing laws are creating havoc in the real estat...
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AMLC Proposing Strict Monitoring Measures for FX Trading To Tackle Money Laundering
The AMLChas increased the monitoring process on FX declarations. All the inbound and outbound cha...
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A Three-fold Rise in AML Penalties in China in 2020
China’s banks and financial institutions have faced an increase in penalties in the year 2020 due...
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MGA to Introduce Detailed Player Protection Guidelines for Responsible Gambling
Malta Gaming Authority is set to introduce player protection guidelines after being placed on the...
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Mishcon de Reya fined £232,500 for AML Failures
London’s leading firm, Mishcon De Reya has been fined EUR 232,500 over failing Anti-Money Launder...
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More Crypto Regulations on Their Way, Says Head of Turkish Central Bank
A few days ago, the Turkish Central Bank imposed a complete ban on cryptocurrency payments. Now,...
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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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MAS Imposed a Fine of $375,000 on UOB Kay Hian For Business Conduct Compliance Failures
The Monetary Authority of Singapore (MAS) imposed a fine of S$375,000 on UOB Kay Hian, a brokerag...
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FIU to Audit Crypto Exchanges, Aiming to Reduce Money Laundering
Financial Intelligence Unit under Financial Services Commission to audit Korea’s cryptocurrency e...
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Crypto Providers at Risk of Money Laundering & Terror Financing, Says FMA
The Crypto industry was rated high-risk in the latest sector risk assessment (SRA) of the FMA, wh...
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Beware of Puppy Scams This Holiday Season – BBB
The Better Business Bureau (BBB) has warned people to be cautious of online puppy scams, especial...
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US Officials allege student defrauded Apple as part of SIM swap attack
Richard Yuan Li, a student at the University of California-San Diego, is charged with plotting to...
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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...
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Colombia Releases New Regulations For Crypto Firms Operating in the Country
The Colombian government passed new drafts for the local crypto organisations to continue operati...
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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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FATF Withdraws Switzerland From AML Enhanced Measures List
The Financial Action Task Force (FATF) removed Switzerland from the enhanced money-laundering com...
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Indonesia to Pass Regulations to Control Money Laundering
Indonesia is looking to develop a strong regulatory framework to curb money laundering and terror...
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Namibia Launches Cyber Security Council to Curb e-Fraud
Namibia has established a cyber security council that would act as a useful forum for discussions...
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Germany and Austria to Adopt Digital KYC for Customer Onboarding
Banks and financial institutions are always searching for ways to impress the customers and the d...
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Two More Crypto Firms to Shut Down Over EU Money Laundering Regulations
Two more cryptocurrency firms – mining pool Simplecoin and bitcoin gaming platform Chopcoin...
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Janet Yellen, US Treasury Secretary to be, Prioritizes AML Regulations
Janet Yellen, incoming Secretary of the US Treasury has announced that AML legislation is the mos...
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£23.8 Million Fined to MT Global for AML Non-Compliance
A Money Service Business (MSB) firm, MT Global, penalized by HM Revenue and Customs for breaching...
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UK’s Financial Watchdog Goes Real-time to Catch Online Criminals
The FCA is sweeping the internet on a day-to-day basis to pull out cybercriminals, as the number ...
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Amazon Sued Over Illegal Storage of Employee Biometric Data
Lawyers from the firm of McGuire Law P.C. of Chicago filed a class action complaint on November 1...
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SEC Strengthens the Scrutiny on Money Laundering Activities in Malaya
SEC (Securities and Exchange Commission) said financial institutions and lenders are now obligate...
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The Netherlands To House an EU-based Anti-Money Laundering Agency in the Hague
The Netherlands is aiming to create a new anti-money laundering agency with the principles of the...
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Gaming & Investment Firms in Malta Penalised with €4.6M for AML Failures
The financial intelligence Analysis Unit has issued an annual report that shows that the total fi...
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Adobe, Twitter and NYT Team Up Against Deepfakes
Deepfakes, whether synthetic or manipulated, are rising at an alarming rate. They can cause immen...
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G20 Summit Agrees to Establish a Unified Global Crypto Framework to Prevent Digital Money Laundering
The G20 Summit signed to establish a global unified regulations framework to regulate digital tra...
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FATF Issues New Guidance on Mitigating Proliferation Financing Risk
The new guidance puts a spotlight on the need for effective onboarding processes, ongoing monitor...
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Monetary System of Nation-States at Systematic Risk due to Stablecoins, Says FSB
With the introduction of global stablecoin like Facebook’s Libra, G20’s watchdog, the Financial S...
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Ransomware gang failed to deploy an attack against 30 US firms
A ransomware attack was blocked by a group by the Cybersecurity firm Symantec known for demanding...
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US Infrastructure Bill Eyes on Introducing Stringent Crypto Provisions
The infrastructure bill proposed in the US Congress aims at revamping how crypto exchanges perfor...
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AI-based voice cloning induces new scams
Vijay Balasubramaniyan, the CEO, CTO, and Co-founder of Pindrop Security, warns the world about a...
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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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AUSTRAC Throws in Hands in their Fight Against Money Laundering through Casino Junk Operators
Australian regulatory bodies to fight financial crimes have known for quite a time that casino ju...
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CBN Adds Cameroon, Croatia, Korea, and Vietnam to Money Laundering Watchlist
A circular issued to Deposit Money Banks (DMBs) states the Central Bank of Nigeria has added Came...
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Reddit follows Facebook suit and bans impersonation on its platform
Earlier this week, Facebook announced its new policy to ban manipulated pictures and videos known...
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Central Banks of UAE and Saudi Arabia Released a Joint Report on CBDC
A joint report published by the central banks of UAE and Saudi Arabia, two countries with the mos...
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Danske Bank Revamps Compliance Measures After Money-Laundering Scandal
Danske Bank A/S was engulfed by a money-laundering scandal in 2018 among other banks in the Nordi...
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11 Jailed in Saudi Arabia for Laundering $2.7 Billion
Saudi Arabia has jailed and fined 11 individuals SR62.5 million for money laundering. The group l...
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US Treasury Launches New Financial Force to Combat Illegal Fentanyl Trade
The US Treasury Department has announced the launch of the Counter-Fentanyl Strike Force to comba...
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