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The Age Verification Software Market to Experience Tremendous Growth by 2025
The increasing number of scams in today’s virtual world needs a better verification system. Prote...
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US Treasury Department Introduces Beneficial Ownership Reporting Form to Enhance AML Measures
The US Treasury Department designed a beneficial ownership report form to strengthen the security...
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Non-Compliant Banks Can End Up In FATF’s Gray list – Warns Governor of the South African Reserve Bank
Lesetja Kganyago, Governor SARB confirms to the Parliament’s standing committee about the i...
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Bipartisan Senators Propose Amendment of the National Defense Authorization Act to Prevent Crypto Money Laundering
Bipartisan lawmakers in the US amended the obligations of anti-money laundering and updated the N...
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Singapore Police Warn Citizens of Prevailing SMS Phishing Scams
The Singapore Police Force has warned citizens about SMS fraud targeting people with similar send...
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Ontario Labeled ‘Highly Vulnerable’ to Money Laundering Activities in Cullen Report
The Canadian gambling sector is on its toes after Commissioner Austin Cullen’s report revealed in...
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Jamaica Plans Digital Marketplace to Trigger CBDC Adoption
Jamaica Observer reported that the CBDC project would improve performance metrics related to JAM-...
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U.K. Parliament Introduces New Online Safety Bill to Curb Push Payment Fraud
The UK Parliament introduces a new Online Safety Bill, to mitigate push payment fraud and increas...
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FBI and the U.S. Marshals Service Warn of Prevailing Telephone Scams
FBI and the U.S. Marshals Service have warned of prevailing telephone fraud in which callers act ...
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NCA Seizes Gold Bars Worth £650,000 from Money Laundering Network
The National Crime Agency has found a forfeiture order for 15 gold bars that are worth £650,000. ...
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FATF Discloses Outcomes of October Plenary Meeting
The international regulatory authority, Financial Action Task Force (FATF), concluded its fourth ...
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Kenya Accuses Two Leading African FinTech Firms of Operating Without Licenses
Two of Africa’s top FinTech companies have been accused by the Kenyan central bank of alleg...
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Moroccan Charity, Najiba Foundation, Faces Account Termination by ING Bank for AML Failures
Internationale Nederlanden Groep (ING) wants to terminate one of the largest Moroccan charity fou...
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US Government Announces Reward for Identifying Sanctioned Russian Assets
The US government has announced financial rewards of up to $5 million for information leading to ...
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Expanding Fraud in Digital Space—Florida’s Government Raises Awareness
The Florida Department of Agriculture and Consumer Services issued a newsletter to alert people r...
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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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SEC Orders Finance, Lending Companies to Submit AML Plans by 21 June
Philippine’s SEC has ordered all financing and lending companies to submit their plans for the im...
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Lloyds Banking Group Initiates “Pilot Scheme” to Combat Frauds
Lloyds bank initiates a “pilot scheme” with the London police to counter criminal act...
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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...
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New York’s Attorney General Bent on Shutting Fraudulent Crypto Platform
New York’s attorney general has filed a lawsuit against a cryptocurrency platform, known as Coins...
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HM Revenue & Customs (HMRC) Fines Property Firms Over £1 Million for Money Laundering Violations
HM Revenue & Customs has fined property firms more than £1 million for not complying with ant...
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Hong Kong’s New Crypto Regulations may Attract Web3 Firms Back
Hong Kong’s new proposed crypto regulation received Huobi Global’s, a Chinese crypto platform, pl...
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FMA Sues Tiger Brokers for AML/CTF Breaches
The Financial Markets Authority (FMA) has filed court proceedings against Tiger Brokers for alleg...
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Netflix ‘Update your payment” phishing scam is bypassing email spam filters
Phishing scams are taking a new turn as more and more people are using streaming services during ...
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Clubs to Adopt Digital Wallets as NSW Reveals Money Laundering Via Machines
The clubs in Australia are to adopt the digital wallet for poker machines as the regulators disco...
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Combating COVID-19: Dubai warns of $10 million loan scheme fraud
A recent scam has emerged in Dubai which involves a $10 million loan for young entrepreneurs and ...
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Mauritius to Step Out of FATF Gray List Following Key Regulatory Changes
Mauritius, which was previously known for being a tax haven, might be out of the FATF’s grey list...
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Research for Implications of CBDC on the Rise in Australia
As of the November 2 announcement of the Reserve Bank of Australia, the country has partnered wit...
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Another Step Taken by the EU to Harmonize AML Rules
The European Banking Authority has proposed new guidance for compliance officers. The attempt is ...
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Brazil to Introduce Facial Recognition to Verify People Wearing Masks at Airports
Countries across the globe are taking necessary steps to introduce facial recognition at the airp...
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China Postpones New AML Rules Amid Privacy Concerns and Pushbacks
China has delayed the introduction of new rules for due diligence as financial institutions requi...
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New Guidelines for Workers Will Deter Fraud in Nigeria’s Financial Sector – Says ASSBIFI
As per the Association of Senior Staff of Banks, Insurance, and Financial Institutions (ASSBIFI),...
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Crypto-Supporting Digital Cards to be Launched Soon in China and Korea
UnionPay, an analogue for Visa and Mastercard service providers, has partnered with Danal, a Kore...
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SFC Finalizes Consultation Conclusions on AML Guidelines
Updated AML/CFT guidelines are expected to come into effect from 30 September 2021, except for th...
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Kenya Accuses Two Leading African FinTech Firms of Operating Without Licenses
Two of Africa’s top FinTech companies have been accused by the Kenyan central bank of alleg...
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Financial Regulators in Uganda Demands Government to Set Crypto Regulations
Uganda’s financia regulators, Financial Intelligence Authority (FIA), want the government to take...
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ICAEW Calls for Professional Scepticism to Mitigate Money Laundering in UAE
The Institute of Chartered Accountants in England and Wales (ICAEW) and the UAE’s Accountants &am...
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Hong Kong Customs Commissioner Urges to Enhance Supervision in Crypto Exchange
Hong Kong’s Commissioner of Customs and Excise, Louise Ho Pul-shan, has urged to enhance the secu...
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Westpac Freezes Executive’s Bonuses Amid Money Laundering Scandal
Westpac’s board will withhold bonuses of all of its senior executives as an ‘interim’ step follow...
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$320 Million Worth of Cryptocurrency Stolen in Wormhole Hack
A recent hack on one of the most popular blockchain bridges linking Ethereum and Solana led to th...
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UK Regulators Obligates Crypto Firms to Submit Financial Crime Report
The UK’s financial watchdog, Financial Conduct Authority (FCA) has expanded financial regulations...
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Australia Lags Behind in Extending FATF’s AML/CFT Recommendations to DNFBPs
Australia is sending a signal to welcome global financial criminals for business in its lawyers, ...
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Abu Dhabi Regulatory Authority Fines Pyypl $486,000 for Violating Money Laundering Laws
Abu Dhabi Global Market (ADGM) financial regulatory authority fined $486,000 to digital UAE bank ...
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Singapore Now Requires Developers to Comply with New AML/TF Regulations
The Singaporean government will implement a new anti-money laundering and anti-terrorism financin...
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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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New Zealand Encounters Spike in Online Identity Theft
Recent research of New Zealand’s financial market has shown a spike of 86 percent in identity fra...
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UK to Apply Digital Identity Verification Across Government Services
Michael Gove, Cabinet Office Minister has written to Whitehall departments about obligating the u...
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Real Estate Money Laundering Rises, KCB Dragged to Court for AML Breach
Real Estate development and construction company Tirupati Development Limited has dragged KCB Ban...
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WhatsApp Receives Fine Worth $267m for Breaching EU’s Data Privacy Law
Ireland’s Data Protection Commission has stated that WhatsApp failed to inform EU citizens suffic...
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European Commission Lists Online Gambling a High-Risk Sector for Money Laundering
The European Commission has listed online gambling as a high-risk avenue for money laundering aft...
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UK to Set up CBDC Taskforce to Analyze the Possibility of ‘Britcoin’
The Bank of England along with the British Government plans to set up a task force to create digi...
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Atomic Wallet Hack Results in $35 Million Loss as Investigation Continues
Atomic Wallet users have reported losing millions of dollars worth of cryptocurrency. It was anno...
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Skyrocketing NFT Sales Raise Concerns for Tax, Law Enforcement
Last month, the sales for a digital art piece was surprisingly high and raised many questions for...
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FinCEN Launches Regulatory Process For AML Regulation on Antiquities
The ANPRM discusses how antiquities trade can be exploited by money launderers and terrorist fina...
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FATF to Publish Revised Guidelines For Virtual Assets Service Providers
The Financial Action Task Force is all set to publish updated guidelines on virtual assets on Oct...
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Defendants plead guilty of allegations in Medicare Fraud in U.S. District Court
Two defendants, Jessica Jones from Colorado, and Elizabeth Putulin from Florida pleaded guilty to...
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MFSA Tightens Financial Regulations for Lawyers, Auditors, and Accountants
Professionals in Malta, lawyers, accountants, and auditors, etc. are resisting the new rules that...
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Singapore: MAS Preparing Data Sharing Platforms to Combat FinCrime
The Monetary Authority of Singapore (MAS) is creating a digital platform named Cosmic that will a...
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The third man involved in ID theft scheme and money laundering is sentenced to jail
Minnesota man among the three criminals involved ID theft scheme and money laundering has finally...
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Internet infrastructure industry plans on ensuring internet trust amidst COVID-19 outbreak
As a global crisis emerges due to the Coronavirus outbreak, and global population practices socia...
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Google Warns 12,000 Victims of Government Hacks
In just three months, from July to September 2019, Google sent out 12,000 warnings to people who ...
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Elon Musk proposes regulations on artificial intelligence
”Organizations developing artificial intelligence must be regulated”, says Elon Musk. This is not...
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UAE Central Bank: AML Guidelines Issued for Licensed Financial Institutes
The UAE Central Bank has issued guidance for financial institutes to fight money laundering, terr...
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UN Warns of Money Laundering Risks Arising from Mekong Region Casinos
According to the U.N. Office on Drugs and Crime, the bond of China and Thailand with Myanmar is g...
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Federal Prosecutors to End Criminal Investigations on Gambling Site ‘5Dimes’
5Dimes is a Costa Rica-based online gambling site that took bets from the US clients illegally. P...
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CAMLMAC and UAE Financial Intelligence Unit Join Hands to Fight FinCrime
UAE and China have signed an MoU on August 03, 2021 to combat money laundering and terror financi...
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$9.8 Million Lost, 40 Arrested in Twitch Money Laundering Scheme
On Tuesday, 4th January, Turkish police took 40 suspects into custody from 11 provinces for alleg...
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Cayman Island Businesses Urged to Maintain Beneficial Ownership Information
Cayman companies are urged to maintain beneficial ownership information in accordance with intern...
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FATF Finalizes Key Working Areas in its Fifth Plenary Meeting
FATF’s fifth plenary meeting consisting of 206 members of the Global Network and Observer organiz...
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FinCEN and OCC Fine Texas Bank $9 Million for BSA-AML Violations
A Texas community bank was fined by the Financial Crimes Enforcement Network (FinCEN) and the Off...
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UK Approves New Age Verification Laws to Protect Children
The UK government approved the “Online Safety Bill,” which contains measures to protect children ...
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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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