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

    34.194.95.99

    Macau to Introduce Digital Currency to Combat AML Threats in Casinos

    macau

    Macau is moving towards introducing digital currency to fight money laundering and tax evasion in the gambling sector. The government is seeking to amend the laws by regulating the issuance of virtual legal tender. The government plans on working with the Central Bank of China to understand the practicality of issuing a digital currency

    There is yet to be a formal announcement on how the digital currency rules will be implemented but the casino junkets are already concerned that the traceable and government-linked currency enforcement will be an end of the industry that is already struck with the stricter regulations regarding the high-stakes gambling and the COVID-19 pandemic. 

    Macau’s regulators have approached many casino operators to discuss how feasible it would be to buy the casino chips from the digital yuan. The main purpose of introducing digital currency for the gambling sector is to minimize money laundering, tax evasion, and terrorism financing. 

    This plan comes during the slow revival from the fall in casino revenue. The pandemic has led to a drop in travel which has further kept the Chinese gamblers away. 

    However, casino analysts are still working to gather more details to assess the effects of the introduction of digital yuan. If digital currency is mandated as the only option for buying, gambling chips would end up being a disadvantage for casinos of Macau by eventually eliminating the system of junkets. However, if seen for long-term effects, the digital currency would have a positive impact as it can become an option for offering easier access to money. 

    The People’s Bank of China introduced digital currency in many cities becoming the first major bank to authorise a virtual currency. This has raised concerns for the USA about the potential threat to the dollar from being the reserve currency for the world in the long term. 

    Related Posts

    News

    Philippine Senator Files an Anti-Online Gambling Bill Aiming to Curb Financial Crimes

    Philippine Senator Joel Villanueva filed a bill imposing a ban on online gambling to prevent fina...

    Philippine Senator Files an Anti-Online Gambling Bill Aiming to Curb Financial Crimes Explore More

    News

    Sri Lanka removed from the high-risk money-laundering list

    COLOMBO – Sri Lanka was recently removed from the list of high-risk countries for money lau...

    Sri Lanka removed from the high-risk money-laundering list Explore More

    News

    New fake ad alert system launched to fight online scams

    According to ITV, the UK Scam Ad Alert tool – developed by the Advertising Standards Authority (A...

    New fake ad alert system launched to fight online scams Explore More

    News

    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...

    11 Jailed in Saudi Arabia for Laundering $2.7 Billion Explore More

    News

    Increasing Financial Crimes Call to Establish a European Center of Excellence For AML Compliance

    EU financial and anti-financial crime regulations are more complicated than before and they reinf...

    Increasing Financial Crimes Call to Establish a European Center of Excellence For AML Compliance Explore More

    News

    Seattle Airport Resists Federal Push for Facial Recognition

    Facial recognition technology won’t be installed at the boarding gates of the Seattle-Tacoma Inte...

    Seattle Airport Resists Federal Push for Facial Recognition Explore More

    News

    Central Bank of China Issues Warning of DC/EP Fraud

    China’s Central bank, the People’s Bank of China along with two other regulatory authorities has ...

    Central Bank of China Issues Warning of DC/EP Fraud Explore More

    News

    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...

    UAE Central Bank Imposes Dh352k Fine on Currency Exchange Explore More

    News

    Cybercriminals Targeting Bitcoin ATMs to Launder Money – Says FBI

    The Federal Investigation Bureau (FBI) revealed gaps in financial regulations as money laundering...

    Cybercriminals Targeting Bitcoin ATMs to Launder Money – Says FBI Explore More

    News

    Media Industry Suffer Huge Increase in Cyber-Attacks

    The media industry is increasingly under the threat of cyberattacks. It suffered 17 billion crede...

    Media Industry Suffer Huge Increase in Cyber-Attacks Explore More

    News

    Albania Fails to Take Strict AML/CFT Measures

    According to MONEYVAL, Albania has failed to take the necessary steps to improve measures on figh...

    Albania Fails to Take Strict AML/CFT Measures Explore More

    News

    FCA Fines Ghana International Bank Over £5 million for Money Laundering Failings

    The Financial Conduct Authority (FCA) has imposed a £5,829,900 financial penalty on Ghana Interna...

    FCA Fines Ghana International Bank Over £5 million for Money Laundering Failings Explore More

    News

    Turkey Set to Toughen AML Laws on Crypto Asset Platforms

    Turkey is designing new and stricter obligations to prevent crypto-asset platforms from money lau...

    Turkey Set to Toughen AML Laws on Crypto Asset Platforms Explore More

    News

    China’s securities watchdog commits to clean up financial markets

    SHANGHAI – China’s security watchdog vowed a number of measures to clean up its financial m...

    China’s securities watchdog commits to clean up financial markets Explore More

    News

    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...

    Clubs to Adopt Digital Wallets as NSW Reveals Money Laundering Via Machines Explore More

    News

    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...

    Former NFL Player Guilty of Identity Theft, COVID-19 Relief Fraud Explore More

    News

    Bithumb, Coinone and Korbit Team Up for FATF Travel Rule Compliance

    Bithumb, Coinone and Korbit have founded a joint venture to facilitate all efforts for maintainin...

    Bithumb, Coinone and Korbit Team Up for FATF Travel Rule Compliance Explore More

    News

    Global AML Watchdog FATF Puts UAE on the Grey List

    The Paris-based Financial Action Task Force placed the UAE on the grey list for “strategic defici...

    Global AML Watchdog FATF Puts UAE on the Grey List Explore More

    News

    FATF Highlights the Gaps in New Zealand’s AML Measures

    Financial Action Task Force (FATF) has issued a report on New Zealand’s measures to combat money ...

    FATF Highlights the Gaps in New Zealand’s AML Measures Explore More

    News

    Australians Lost a Record Amount of Over $3 Billion to Scams in 2022

    The Australian Competition and Consumer Commission (ACCC) revealed that Aussies lost more than $3...

    Australians Lost a Record Amount of Over $3 Billion to Scams in 2022 Explore More

    News

    Singapore Seizes $2 Billion Worth of Assets in Money Laundering Investigation

    Singaporean regulatory authorities officials accused lax immigration policies of large inflows of...

    Singapore Seizes $2 Billion Worth of Assets in Money Laundering Investigation Explore More

    News

    Ransomware attacks rise as criminals target remote working

    Ransomware attacks are getting bigger and bolder at a time where many organisations are implement...

    Ransomware attacks rise as criminals target remote working Explore More

    News

    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...

    Internet infrastructure industry plans on ensuring internet trust amidst COVID-19 outbreak Explore More

    News

    Chinese Firms to Test Crypto Opportunities in Hong Kong

    Chinese Security companies and banks are attracted by Hong Kong’s retail trading in Bitcoin and E...

    Chinese Firms to Test Crypto Opportunities in Hong Kong Explore More

    News

    EU Lawmakers to Decide Ban on Large Crypto Transfers from Self-Hosted Wallets

    European Union lawmakers will vote on limiting crypto transfers from self-hosted wallets on March...

    EU Lawmakers to Decide Ban on Large Crypto Transfers from Self-Hosted Wallets Explore More

    News

    UK Customers Losse £580m to Identity Scammers in First Half of 2023

    UK Finance disclosed that identity theft is a proliferating scam, and they recorded 1.4m fraud ca...

    UK Customers Losse £580m to Identity Scammers in First Half of 2023 Explore More

    News

    FATF Issues Guidance for AML/CFT Digitization of FIUs

    FATF published a report in collaboration with the Egmont group discussing why and how FIUs should...

    FATF Issues Guidance for AML/CFT Digitization of FIUs Explore More

    News

    US Financial Committee to Investigate Crypto to Combat Terrorist Financing

    The US House of Financial Service Committee (FSC)  is set to conduct an in-depth investigation of...

    US Financial Committee to Investigate Crypto to Combat Terrorist Financing Explore More

    News

    AUSTRAC Has Published a New Guidance For Detecting “Cuckoo Smurfing”

    AUSTRAC’s guidance offers indicators for financial institutions, to allow them to detect suspicio...

    AUSTRAC Has Published a New Guidance For Detecting “Cuckoo Smurfing” Explore More

    News

    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...

    US Treasury Launches New Financial Force to Combat Illegal Fentanyl Trade Explore More

    News

    Amazon patents block chain-based product authenticator

    The U.S. Patent and Trademark Office approved Amazon’s three-year-old “Distributed ledger certifi...

    Amazon patents block chain-based product authenticator Explore More

    News

    Florida Man Charged $784 Million in Massive Healthcare Fraud

    Creaghan Harry, a man from Florida was indicted of $784 million for committing healthcare fraud a...

    Florida Man Charged $784 Million in Massive Healthcare Fraud Explore More

    News

    UAE Judges Discuss Steps Taken by Authorities to Strengthen AML Controls

    UAE’s senior judges outline the legal actions taken by authorities to strengthen anti-money laund...

    UAE Judges Discuss Steps Taken by Authorities to Strengthen AML Controls Explore More

    News

    Financial Inclusion Group Proposes User-centric Digital ID, Biometric KYC Policy Model

    According to the AFI model, digital IDs and biometric KYC verification must be deployed by busine...

    Financial Inclusion Group Proposes User-centric Digital ID, Biometric KYC Policy Model Explore More

    News

    Westpac CEO Brian Hertzer Resigns Amid Money-Laundering Scandal

    The chief executive of Westpac Banking Corporation, Brian Hartzer, has resigned and the chairman ...

    Westpac CEO Brian Hertzer Resigns Amid Money-Laundering Scandal Explore More

    News

    South Africa Gets the Green Signal for New AML/CTF Laws

    South Africa has finally gotten a green signal for new finance laws to address shortcomings ident...

    South Africa Gets the Green Signal for New AML/CTF Laws Explore More

    News

    Kuwait’s Ministry of Social Affairs to Amend the Executive Law to Fight Money Laundering and Terrorism

    Kuwait’s Ministry of Social Affairs is currently reviewing a proposal to amend the executive regu...

    Kuwait’s Ministry of Social Affairs to Amend the Executive Law to Fight Money Laundering and Terrorism Explore More

    News

    Over £1 Million Lost to Covid Business Support Fraud in Leeds

    Leeds City Council papers have shown 74 cases of Covid business support fraud where more than £1 ...

    Over £1 Million Lost to Covid Business Support Fraud in Leeds Explore More

    News

    Indiana Witnesses a Spike in Identity Theft and Data Breaches

    Covid19’s outburst has resulted in exponential growth in online banking, purchasing, and eC...

    Indiana Witnesses a Spike in Identity Theft and Data Breaches Explore More

    News

    “Money Mule Crimes Double in Cork, Students are an Easy Target”, Says the Police

    According to police investigations, the number of money mule activities in Cork city has doubled ...

    “Money Mule Crimes Double in Cork, Students are an Easy Target”, Says the Police Explore More

    News

    SMS Phishing Scams are Impersonating State Agencies – FTC Warns

    FTC issues warning against SMS phishing attacks that are impersonating state workforce agencies t...

    SMS Phishing Scams are Impersonating State Agencies – FTC Warns Explore More

    News

    Turkey Remains on the FATF Gray List for AML Regulations Failures

    Turkey’s government has failed to comply with Anti-Money Laundering (AML) and Counter-Financing T...

    Turkey Remains on the FATF Gray List for AML Regulations Failures Explore More

    News

    Irish Police warns about the latest internet fraud

    The local Irish police (Gardai) is persuading people not to fall prey to the recent online bankin...

    Irish Police warns about the latest internet fraud Explore More

    News

    Sri Lankan Regulatory Authorities Enforce AML/CFT Measures to Avoid FATF Grey and Black List

    The Financial Action Task Force (FATF) started cracking down on Sri Lanka’s financial institutes ...

    Sri Lankan Regulatory Authorities Enforce AML/CFT Measures to Avoid FATF Grey and Black List Explore More

    News

    USD 10.4 Billion Paid by Financial Groups in 2020 in Regulatory Fines

    Know Your Customer and Anti-money Laundering non-compliance penalties rose 26% this year. Many pr...

    USD 10.4 Billion Paid by Financial Groups in 2020 in Regulatory Fines Explore More

    News

    Fake NFT Sold for £244k from Artist “Banksy’s” Website

    A fake link directed bidders to an online auction for Banksy’s NFT, which was posted on the now-d...

    Fake NFT Sold for £244k from Artist “Banksy’s” Website Explore More

    News

    US to Rigorously Implement Anti-Money Laundering in Crypto

    A rule requiring cryptocurrency firms to share data about their customers will be strictly implem...

    US to Rigorously Implement Anti-Money Laundering in Crypto Explore More

    News

    COVID at EURO 2020 Reinforced the Need for Digital COVID Pass

    With 2 infected players infiltrating the entire stadium, many are fearing the spread of COVID-19 ...

    COVID at EURO 2020 Reinforced the Need for Digital COVID Pass Explore More

    News

    US Court Sentences Nigerian FinTech Executives for Money Laundering Worth $167 Million

    The US Court jails the Fintech Executives of Nigeria over a Money Laundering Case comprising $167...

    US Court Sentences Nigerian FinTech Executives for Money Laundering Worth $167 Million Explore More

    News

    Dutch Court Rules Out Duties Imposed by National Bank on Crypto Platforms

    The Dutch District Court ruled out all National Bank’s duties on the crypto platforms by stating ...

    Dutch Court Rules Out Duties Imposed by National Bank on Crypto Platforms Explore More

    News

    Natwest Caps Transfer Limit to Binance Over Fraud Concerns

    Natwest bank is scrutinizing cryptocurrency transactions, including Binance transactions, due to ...

    Natwest Caps Transfer Limit to Binance Over Fraud Concerns Explore More

    News

    Bulgaria Must Strengthen its Measures Against Money Laundering & Terrorist Financing – Moneyval

    Moneyval called on Bulgaria to improve the regulatory standards for the domestic framework consis...

    Bulgaria Must Strengthen its Measures Against Money Laundering & Terrorist Financing – Moneyval Explore More

    News

    EMLCU Reviews Egypts Efforts to Fight Financial Crime

    Chairman of EMLCU (Egyptian Money Laundering and Terrorist Financing Combating Unit) Ahmed Saeed ...

    EMLCU Reviews Egypts Efforts to Fight Financial Crime Explore More

    News

    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 ...

    Online fraud attempts increase during COVID-19 catastrophe Explore More

    News

    FATF Warns Many Countries Continue to Face Challenges in Meeting Virtual Asset Regulations

    Approximately 75% of FATF member countries fail to adhere to or only partially comply with Recomm...

    FATF Warns Many Countries Continue to Face Challenges in Meeting Virtual Asset Regulations Explore More

    News

    RBI Gives Stark Warning Against Emerging KYC Fraud

    RBI states that sensitive details should not be disclosed via unverified or unauthorised channels...

    RBI Gives Stark Warning Against Emerging KYC Fraud Explore More

    News

    Russian Government to Fight Cybercrimes for Digital Economy

    A report by TASS news agency states that the Russian government plans to develop a center to figh...

    Russian Government to Fight Cybercrimes for Digital Economy Explore More

    News

    Global Plight: Australia Paves the Way for Money Laundering in the Property

    Australia facilitates money laundering through the property, causing a global plight and perpetua...

    Global Plight: Australia Paves the Way for Money Laundering in the Property Explore More

    News

    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...

    11 Jailed in Saudi Arabia for Laundering $2.7 Billion Explore More

    News

    Standard Chartered Is Fined $13.6 Million by India’s AML agency

    Standard Chartered Bank is fined $13.6 million by India’s anti-money laundering agency for 2007 d...

    Standard Chartered Is Fined $13.6 Million by India’s AML agency Explore More

    News

    HKMA Fines Four Banks with $5.7 Million for AML Failings

    Hong Kong’s financial regulator has imposed fines on four banks with a combined amount of $5.7 mi...

    HKMA Fines Four Banks with $5.7 Million for AML Failings Explore More

    News

    Major Law Enforcement Operation Seizes 300 Crime Rings, Millions In Crypto Recovered

    Millions in crypto seized, 300 criminal syndicates raided and arrested.  In today’s financial cri...

    Major Law Enforcement Operation Seizes 300 Crime Rings, Millions In Crypto Recovered Explore More

    News

    US Accuses Crypto Firms for Serving as Money Laundering Hub

    The US Treasury’s department targeted the crypto mixers to combat internationally operated financ...

    US Accuses Crypto Firms for Serving as Money Laundering Hub Explore More

    News

    Sri Lanka removed from the high-risk money-laundering list

    COLOMBO – Sri Lanka was recently removed from the list of high-risk countries for money lau...

    Sri Lanka removed from the high-risk money-laundering list Explore More

    News

    China’s Financial Watchdogs All Set to Regulate FinTech Sector

    China’s four years regime to clear all risks from the financial system have been extended to the ...

    China’s Financial Watchdogs All Set to Regulate FinTech Sector Explore More

    News

    Comparitech Report Ranks Biometric Data Use: China Tops the List

    Comparitech, a pro-consumer technology website, conducted a study including 50 countries and thei...

    Comparitech Report Ranks Biometric Data Use: China Tops the List 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

    Labor Party Victim of a Second Cyber-Attack

    Britain’s Labour Party has informed that it had been a victim of a large-scale cyberattack on its...

    Labor Party Victim of a Second Cyber-Attack Explore More

    News

    IMF Urges Central Bank of Seychelles to Upgrade Transparency and AML Controls

    The Central Bank of Seychelles (CBS) has been advised by the International Monetary Fund (IMF) to...

    IMF Urges Central Bank of Seychelles to Upgrade Transparency and AML Controls Explore More

    News

    Filipino crypto scammers are impersonating government officials for profit

    A Filipino finance entity warns against the supposed crypto Ponzi scheme Bitcoin Revolution, blam...

    Filipino crypto scammers are impersonating government officials for profit Explore More

    News

    Central Bank of Nigeria (CBN) Raises Concerns Over KYC and AML Protocols

    The Central Bank of Nigeria (CBN) has intensified pressure on financial institutions (FIs) to imp...

    Central Bank of Nigeria (CBN) Raises Concerns Over KYC and AML Protocols Explore More

    News

    Bank of Valletta Fined EUR 2.6 Million for UBOs Reporting Failure

    FIAU imposed a penalty of EUR 2.6 million on the Bank of Valletta for failing to report Beneficia...

    Bank of Valletta Fined EUR 2.6 Million for UBOs Reporting Failure 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