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UAE Central Bank Imposes Financial Sanctions on Six Banks for CDD Failures
Six banks in the UAE have been issued financial sanctions by the UAE Central Bank for not complyi...
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Money Remittance in Singapore at the Highest Risk of TF
The money remittance sector and banking sector in Singapore has become the highest target for cri...
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Pokies are Safe Havens for Criminals to Clean Dirty Money – Says NSW Crime Commission
According to findings of a multi-agency investigation released by the NSW Crime Commission, pubs ...
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NAB and CBA Exposed Over PNG Money Laundering Case
NAB and CBA have been given a “formal warning” instead of criminal charges, as the PNG regulator ...
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Cambodia Under FATF’s Tight Monitoring Over Weak AML Measures
Cambodia is under the tight monitoring of FATF over weak AML measures. According to Transparency ...
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Vietnam’s Ministry Concerned About the Risks Attached to Crypto Trading
The Finance Ministry in Vietnam has declared that cryptocurrencies have no legal framework in the...
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Cambodian Minister of Justice Addresses AML Action Plan to Escape FATF’s Gray List
The Minister of Justice Koeut Rith has advised all financial institutions to continue their coope...
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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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ASIC Expands its Team to Enhance Cryptocurrency Regulations
Australia’s financial regulator has enhanced the size of its crypto team. The crypto regula...
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Swiss Prosecutor Identifies Trail to Credit Suisse Money Laundering Case
A Swiss Prosecutor has identified the trail leading to the Credit Suisse money laundering case wo...
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IRS Deploys Effective Filters to Detect and Prevent Tax Evasion
The Treasury Inspector General for Tax Administration released an interim filing season report on...
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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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Credit Suisse Settles French Tax Fraud & Money Laundering Probes for €238 Million
Credit Suisse accepted a settlement of 238 million euros to resolve a tax scam and money launderi...
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HSBC reports money laundering violations in Australia
LONDON – According to Reuters, HSBC bank (HSBA.L) has reported itself to the Australian fin...
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FCA Advises Firms to Embed Data and Technology to Combat Financial Crimes
Sarah Pritchard, the FCA executive director of markets, spoke at the Financial Crime Summit in Lo...
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AUSTRAC Warns Banks Against Closing Accounts of Crypto Traders
AUSTRAC shows full support for the Australian crypto industry and is issuing warnings to banks ag...
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Drug Trade Proceeds Laundered Through Digital Currency ATMs, Says DEA
According to the U.S Drug Enforcement Administration’s report, digital currency ATMs are growingl...
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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 ...
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Effective Measures are Needed to Tackle Money Laundering and Terrorist Financing, Says EMLCU’s Head
The Union of Arab Banks arranged the three-day anti-money laundering and terrorist financing even...
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Australia Risks Damage To Economy Unless Money Laundering Laws are Improved
A Senate committee says that Australia is at risk of damaging its economy if money laundering law...
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Brazil to Adopt Tougher Penalties to Curb Money Laundering via Digital Currencies
The fine for digital currency money laundering in Brazil is set to be raised to two-thirds of the...
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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...
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EU Money Laundering Overhaul Should Include NFT Platforms, Lawmakers Say
The two crypto legislation adopted last week did not include unhosted wallets and decentralised f...
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Singapore Under High Scrutiny Amid Money Laundering Scandal
Singapore, an immaculate business hub, is under fire for one of the largest money laundering case...
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Hong Kong Looking to Legitimize Crypto Trading for Retail Investors
The government of Hong Kong has been looking at whether to legitimize crypto trading for retail i...
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US Seizes 18 Crypto ATMs Bought With Fraudulent Loans
US law enforcement has seized 18 cryptocurrency automated teller machines previously purchased vi...
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Belgian financial sector launches campaign to help consumers avoid online fraud
The financial sector’s federation, Fibelfin, is initiating a campaign to respond to the sense of ...
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Nepal’s Foreign Employment Sector Witnesses a Surge in Fraudulent Cases
The number of individuals seeking international employment from Nepal has increased, and so do th...
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UAE Convenes Summit on Curbing Money Laundering and Terrorism Financing
The UAE convened an international summit on money laundering and terrorist financing prevention i...
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LifeLabs Hit By a Data Breach Affecting Personal Information of 15 Million People
Canadian laboratory testing company, LifeLabs, disclosed on Tuesday that it had been a victim of ...
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Dubai Police Monitors Cryptocurrencies for Prevention of Money Laundering
The cybercrime unit of Dubai Police has started monitoring cryptocurrencies to ensure that digita...
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Danske Bank Fined €1.82m Over AML and CTF Breaches
Danske Bank was accused of AML compliance failings and fined €1.82m by the Central Bank, revealin...
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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 ...
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OCC Warns Federal Banking System of Crypto & Cybersecurity Risks
The OCC has warned the federal banking associations, branches and agencies on crypto-asset and cy...
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DC lawyers can now accept crypto for legal fees
According to a report by Bloomberg Law, cryptocurrency can now be used to pay for legal services ...
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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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New York man charged with trafficking credit card details
According to a federal indictment, Vitalii Antonenko, 28, was alleged in the U.S District Court f...
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FATF to Blacklist Uganda Over Money Laundering
The Executive Director of the Finance Intelligence Authority, Sydney Asubo stated that the FATF h...
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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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MEPs Disclose Plans To Crack Down On Money Laundering – AMLA Reports
The civil liberties and economic affairs committees discussed the plan to establish an EU Authori...
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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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DBS Bank in Singapore Entering the Crypto Sector with Three New Offerings
Singapore’s largest commercial and retail bank, DBS, is likely to enter the cryptocurrency sector...
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South Africa Earmarked R265 Million to Get Off FATF’s Greylist
Finance Minister Enoch Godongwana announced on Tuesday that allocating R265 Million is one of sev...
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Council of Europe Urges Montenegro to Step Up AML Measures
The Council of Europe stated in a recent report that Montenegro lacks sufficient measures to inve...
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EDD Fraud Scandal in California – 87 Suspects Arrested
Within two weeks, the Beverly Hills Police have arrested 87 people that are suspected to be invol...
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Facebook Built a Facial Recognition App To Identify Employees
Facebook is again under fire for its controversial facial recognition technology. The tool used f...
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Russians Turn To Crypto As the West Imposes Financial Sanctions
Data has shown that Russians are turning towards transactions in cryptocurrency as a result of we...
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Japanese Gaming Giant Capcom Fell Victim to Cyberattacks
The famous gaming giant, Capcom, is being blackmailed by cyberattackers to pay $11 million bitcoi...
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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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Internet fraud complaints went up by 30% last year
As per Economic Affairs Minister Nathalie Muylle, Belgium’s Economic Inspection Unit received 29%...
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Credit Union Identity Theft Investigation Handed Over to Federal Prosecutors
NY Police have handed over the investigation of a $100,000 ID theft ring allegedly involving a fo...
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BaFin Imposes $10M Fine on Deutsche Bank for Euribor Control Failing
Deutsche Bank faces challenges as BaFin imposes a 10-million dollar fine for Euribor control fail...
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AML investigation results in NZ police freezing $140 million
Police have collected $140 million from the Canton Business Corporation and its owner Alexander V...
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Electronics Giant Samsung Confirms a Data Breach Affecting Personal Information of Customers
Samsung announced a data breach involving customers’ personal information, assuring that so...
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DOJ Arrested Three Individuals In A $722 Million Cryptocurrency Ponzi Scheme
The Department of Justice arrested three men on Tuesday, December 10, on charges of running an el...
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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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Canadian financial watchdog geared up for FATF compliance
The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) plans on closely regul...
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The US and UK Strengthen Ties Regarding Crypto Regulations, Says British Regulator
The Top British regulator FCA reported that the US and UK are strengthening ties on crypto regula...
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NYDFS Reminds BitLicense Holders to Follow Rules
NYDFS (New York Department of Financial Service) has restated custody and disclosure requirements...
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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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Leaked Draft: EU Plans to Ban Privacy Enhancing Crypto Coins
CoinDesk has received a leaked draft of the money laundering bill, disclosing plans of the Europe...
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Transparency International Declares South Sudan Second Most Corrupt Country
In the East African region, South Sudan has been ranked as the most corrupt country in the world....
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US Sanctions Crypto Mixer Sinbad Over Connections to North Korea
The FBI and the Dutch Financial Intelligence and Investigation Service have a crackdown on virtua...
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Georgia Ramps Up AML Measures to Combat Financial Crime
A new report released by the Council of Europe’s AML body has highlighted Georgia’s progress in c...
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Swiss Prosecutor Identifies Trail to Credit Suisse Money Laundering Case
A Swiss Prosecutor has identified the trail leading to the Credit Suisse money laundering case wo...
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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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Kenya Takes First Step to Regulate Virtual Asset Market
The Kenyan government is all set to take the first step to regulate a vast $20 Billion crypto mar...
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Banks Warned about Cryptocurrency Risk Exposure by FinCEN Director
During a virtual anti-money laundering conference by ACAMS in Las Vegas earlier this week, FinCEN...
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PBOC Issues Risk-Based Account Opening Guidelines for SMEs
The PBOC has issued guidance on Oct 14, 2021, for SMEs to adopt a Risk-Based Approach (RBA) when ...
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A Brussel Led Crackdown to be Held in Britain if EU Demands are not Met
MEPs have ordered Brussels to black-list the city of London if it does not comply with the EU’s D...
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Singapore offers $70M to aid the fintech industry during COVID-19
Singapore has allocated SG$125 million ($70.89 million) to assist its financial services industry...
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Shufti Introduces AI-Based OCR for Better Customer Verification
Verifying customers is the goal of our clients and we believe in providing the best solutions. Th...
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