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Pinterest Enhances Age Verification Measures to Protect Users Under 16
Pinterest reveals a new series of security features to make its platforms secure for teens. These...
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Federal Prosecutors Investigate Trump’s Social Media Company for Money Laundering
Trump’s social media company is reportedly under investigation by federal prosecutors in New York...
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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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UK’s Regulatory Agencies not Coming Slow Against Money Laundering
HM Revenue & Customs carried out an extensive investigation on the UK’s real-estate agencies ...
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EU Court of Justice Passes Judgement Against Provision of AMLD5
EU Court of Justice has passed a judgment against the provision of the AMLD5, concluding that pub...
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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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CBN Issues AML/CFT/CPF Guidelines for Licencing Banks and other Financial Institutions
The Central Bank of Nigeria (CBN) has issued guidelines to assist promoters of banks and other fi...
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UAE Receives Observer Status at APG For Money Laundering
UAE becomes the first Arab country receive an observer status at the Asia/Pacific Group of Money ...
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NGOs Advised on Due Diligence to Tackle Terrorism Financing
The Financial Crimes Commission’s SCUML has advised Non-Governmental Organizations (NGOs) to cond...
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Vietnam Govt to Introduce Crypto Research Group to Evaluate Policy
Vietnam’s Ministry of Finance has plans of establishing a research group with the aim of studying...
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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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With Rising Fintech Adoption, FI’s are Investing in AI for AML Compliance: Report
Reduced rates of false positives and the resulting decline in operational costs have caused an in...
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FinCEN Warns Banks of Potential Russian Sanctions Evasion
The Financial Crimes Enforcement Network (FinCEN) has warned banks of possible suspicious practic...
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Two Bank Workers Banned by Central Bank in the Philippines for Wirecard Fraud
Two bank workers, involved in issuing fake documents, have been banned by the Central Bank. The a...
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CIBC Fined C$1.3M by Canadian Anti-Money Laundering Authority
Canadian regulatory authorities imposed a $1.3m penalty on the Canadian Imperial Bank of Commerce...
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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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Hong Kong Sees 20-fold Spike in Investment Scam Losses – Report
According to the Police, 725 cases of investment scams occurred within the first seven months of ...
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24 scammers arrested on money laundering charges
Government officials have arrested over 24 money laundering suspects due to an online fraud opera...
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Nigerian Central Bank Announces Latest Guidelines to Combat Money Laundering
The Central Bank of Nigeria ordered all customers to link their Bank Verification Number (BVN) an...
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Google to Improve its Compliance Program After BTC-e Data Loss
Google has committed to strengthening its legal compliance program after losing data linked with ...
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Businesses at Risk Due to 6AMLD by the European Union
The European Union imposed the fifth anti-money laundering directive in January 2020, which enhan...
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EBA Restricts Diamantaires from Banking Services to Curb ML/TF Risk
Financial institutions restricting diamond dealers from banking services to comply with EU’s 2015...
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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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Macau to Introduce Digital Currency to Combat AML Threats in Casinos
Macau is moving towards introducing digital currency to fight money laundering and tax evasion in...
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NY Lawmakers Approve Legislation Against Financial Fraud
Michael Gianaris, Deputy Leader of the Senate, recently announced his legislative measures to pro...
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FCA Declares £147m Fine on Credit Suisse for Due Diligence Failings
Credit Suisse was fined £147,190,200 for breaching FCA’s Principle 2 and 3 for Businesses as it f...
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Texans to be Among the Most Affected Nations in Global Cybercrime Operation, Warns FBI
According to the Federal Bureau of Investigation (FBI), Texans are likely to be among nations tha...
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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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Canada loses millions in online scams
According to CBC News, 6492 incidents of fraud were reported to Edmonton Police last year, result...
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Natwest Caps Transfer Limit to Binance Over Fraud Concerns
Natwest bank is scrutinizing cryptocurrency transactions, including Binance transactions, due to ...
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MALACAÑANG Orders Relevant Government Agencies to Implement Anti-Money Laundering Plans and Programs
Aiming to exit the Financial Action Task Force’s (FATF) grey list by January 2024, MALACAÑANG Pal...
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Indonesia Becomes Member of International Watchdog, FATF
The international money laundering watchdog, FATF, includes Indonesia as its member state, in a g...
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US Attorney’s Office Charges New York’s Oldest Mafia Clans for Money Laundering Scheme
The US Attorney’s office has accused the two of New York’s oldest mafia clans for laundering mone...
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Bank of Lithuania Revokes License of UK Payments Firm for AML Failures
Transactive Systems Ltd., which processed more than €1 billion of payments every month, has had i...
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Indian Brokers Under Investigation for Alleged Money Laundering and Identity Theft
Three of the most prominent brokers in the country have come under scrutiny from numerous regulat...
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Supreme People’s Court of China to Impose Severe Penalties for Financial Crimes
China’s top courts are set to impose heavier punishments to prevent financial crimes and mitigate...
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MBSB Bank to Implement BNM’s Requirements for Combating Financial Crimes
Bank Negara Malaysia announced additional security measures for financial institutions to strengt...
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HKMA Issues Guide for Regtech Adoption in Customer Monitoring
The second guide published by the HKMA will allow banks to test their internal measures and infra...
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MENAFATF Adopts Abu Dhabi Recommendations to Counter Money Laundering and Terrorism Financing
An international group based on the FATF format, MENAFATF, has adopted the Abu Dhabi recommendati...
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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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South Korea Demands Crypto Exchange Data from Banks for Tighter Regulations
The financial regulators in South Korea are seeking crypto exchange data from the banks in order ...
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Shufti is nominated for ‘Oustanding Product/ Service’
Global business excellence awards nominated Shufti for the category of outstanding product/ s...
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South Kesteven Council Strengthens AML Controls for Right to Buy Scheme
South Kesteven council tightened the anti-money laundering controls over questions raised by buye...
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FIAU Charges ECCM Bank €310,000 for Weak AML Controls
FIAU charged Silema-based ECCM Bank €310,000 over failings in money laundering controls, revealin...
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MAS Imposes Capital Requirements on OCBC for Inadequate Scam Response
Additional capital requirements have been imposed on the OCBC bank by the Monetary Authority of S...
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Dubai Jails 9 and Fines Over Dh15 Million for Money Laundering
Dubai courts have issued prison sentences to 9 offenders for money laundering. The Emirates conti...
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UAE to Step Up AML Measures to Avoid FATF’s Gray List
After FATF’s warning to grey list the UAE for AML failures, the region is set to step up complian...
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Over $1 Billion Laundered Through Australia’s Pubs and Clubs Annually
A joint report by media outlets has shown evidence of over AU$1 billion being laundered throughou...
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IMF Advocates CBDC and Global Crypto Regulations for Financial Stability
The new policies advocated by the IMF seek to minimize financial risks associated with the global...
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SRA Fines Oxfordshire Law Firm over Weak AML Controls
The SRA (Solicitors Regulation Authority) has charged £20,000 to an Oxfordshire law firm after id...
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7 UAE Law Firms Penalized in Anti-money Laundering Violations
Around 100,000 dirhams have been fined to 7 law firms in UAE for disregarding anti-money launderi...
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FINRA Issues Notice to Remind Firms of Nation-wide AML/CFT Priorities
FINRA has issued a notice reminding all member firms to comply with AML/CFT priorities as mandate...
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Taiwan Initiates Industry Association to Regulate Cryptocurrency Sector
Nine crypto exchange platforms formed a group to create an industry association to regulate Taiwa...
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FCA Issues Report on Progress of Professional Body AML Supervision (OPBAS)
The report has highlighted key areas of improvement, including effective implementation of a risk...
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Over a Million T-Mobile Customers Affected By a Data Breach
T-mobile suffered a data breach earlier this month, the company confirmed this on their website t...
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Australia introduces new rules to tackle mobile identity theft
Acma (Australian Communications and Media Authority) has introduced a new regulation to fight ide...
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Newsman arrested for credit card theft
A Newport Newsman was arrested due to credit card and identity theft allegations.
The arrest was...
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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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Latvia Struggles with Flow of Illicit Money Despite Regulatory Crackdown
Latvia continues to face illicit financial flow despite the regulatory crackdown that shut down t...
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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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Non-compliant Crypto Accounts will Face Immediate Closure from Banks – Says CBN
Nigerian banks are ordered to track and freeze non-compliant crypto accounts, while banks that fa...
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ICAIE Issues Report on Trade-Based Money Laundering in Free Trade Zones, Ports, & Safe Havens
The ICAIE released a new report called “The Dark Side of Illicit Economies and TBML: Free T...
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BBB Warns About the Potential Scams Fuelled by the COVID Vaccine Passports
As people around the world are increasingly becoming vaccinated, the concern about the vaccine pa...
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HM Treasury Consults UK Government on AML Supervision Reforms
HM Treasury announced that a consultation would be conducted concerning AML/CFT supervision refor...
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Central Bank of Bahamas Calls for Stringent Due Diligence in the Wake of FTX Collapse
The Bahamas’ Central Bank has called for stricter due diligence while moving funds in the w...
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Japan Revises Six Laws to Tackle Money Laundering in Cryptocurrency
The Japanese government is pondering enacting a new law. The “bundling bill” proposed...
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Australian Police Launch Avarus, a Multi-task Force to fight Money Laundering
Australian Federal Police has set up a new multi-agency task force to fight prevailing financial ...
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UAE to Step Up AML Measures to Avoid FATF’s Gray List
After FATF’s warning to grey list the UAE for AML failures, the region is set to step up complian...
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Govt assists Struggling Swiss Crypto Valley
Switzerland’s “Crypto Valley” is in talks with the federal government for fixing a 100 million Sw...
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Two foreign nationals charged with Cryptocurrency laundering
The United States Department of Justice has charged two Chinese nationals with laundering $100 mi...
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FATF Calls for Urgent Implementation of Crypto Information Sharing Mechanisms
FATF has published a report to call on the countries to the implementation of travel rules to und...
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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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