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

    3.144.28.166

    Man Sentenced to 5 Years in Jail for Laundering $2.6M Through BTC ATMs

    MAN SENTENCED

    UK law enforcement authorities recently sentenced a 22-year-old man named Bazyli Rymarz to 5 years in jail for laundering almost $2.6 million through BTC ATMs.

    Rymarz was previously arrested in January 2020 at the port of Dover with a Bentley Bentayga worth £130,000 ($172,000) and €6,500 ($7,300 cash) in a bag.

    UK law enforcement authorities have found Rymarz guilty of money laundering between September 2018 and January 2020. 

    According to the authorities, about £2 million ($2.6 million) was laundered through criminal associates using a network of cryptocurrency ATMs in a fraud scheme. The criminal group is said to operate by convincing individuals that they need to pay the UK authorities. This is followed by luring them into paying through BTC ATMs.

    In a press release, Kent police stated, “No evidence was found that Rymarz was personally involved in these frauds, but investigations showed the extent of his involvement in the group which laundered the criminal money.

    Furthermore, Rymarz was also found to be linked to Wedso Ltd, a UK-registered entity. Wedso Ltd was never registered for VAT and did not pay any corporation tax. The 22-year-old has been repeatedly arrested by the police over the years.

    In March 2019, he was arrested with £10,500 ($14,000) cash at Luton Airport. The same year in October, Rymarz was arrested for speeding and had separate amounts of £38,000 ($50,600) and €13,600 ($15,300) in his car. After he was arrested in Dover, Police found £5,400 ($7,100) and €8,200 ($9,200) cash at his home in Watford.

    According to the FBI, fraudsters have been using cryptocurrency ATMs to scam people. BTC ATMs provide a convenient method due to the anonymity of crypto transactions, allowing fraudsters to carry out money laundering, drug trafficking, and other heinous crimes.

    Suggested read: Crypto Providers at Risk of Money Laundering & Terror Financing, Says FMA

    Related Posts

    News

    Identity Theft Pushed to New Records with Buy-Now-Pay-Later Boom in Australia

    BNPL (Buy-Now-Pay-Later) policy in Australia has given a rise to identity theft and has doubled t...

    Identity Theft Pushed to New Records with Buy-Now-Pay-Later Boom in Australia Explore More

    News

    China Enhances AML Obligations to Combat Money Laundering

    Chinese authorities have released the latest guidelines to enhance security in the financial sect...

    China Enhances AML Obligations to Combat Money Laundering 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

    “Pension Fraud Hits £1.8 Million so far in 2021”, National Reporting Centre

    National Reporting Centre for fraud and cybercrime has reported £1.8 million has already been los...

    “Pension Fraud Hits £1.8 Million so far in 2021”, National Reporting Centre Explore More

    News

    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 ...

    Abu Dhabi Regulatory Authority Fines Pyypl $486,000 for Violating Money Laundering Laws Explore More

    News

    Joint US-Spanish Operation Broke a Multi-Million Euro Credit Card Scam

    The US Secret Service and Spanish police were working together on an operation when they shut dow...

    Joint US-Spanish Operation Broke a Multi-Million Euro Credit Card Scam Explore More

    News

    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...

    North Korean bankers charged in $2.5 billion money-laundering scheme Explore More

    News

    CFTC Fines CHS Hedging for AML and Other Violations

    The Commodity Futures Trading Commission (CFTC) has fined CHS Hedging a civil monetary penalty of...

    CFTC Fines CHS Hedging for AML and Other Violations Explore More

    News

    Hong Kong Police Seizes $65 Million From Triad Controlled Money Laundering Ring

     Hong Kong police detained 458 people and seized $65 million in connection with an extensive crim...

    Hong Kong Police Seizes $65 Million From Triad Controlled Money Laundering Ring Explore More

    News

    ‘Left in Limbo’: Cryptocurrency Exchanges React to FCA Registration Deadline

    Today is the deadline for the digital currency firms to be registered with the UK’s financial reg...

    ‘Left in Limbo’: Cryptocurrency Exchanges React to FCA Registration Deadline Explore More

    News

    Consumers Lost €15.6M to Impersonation, Investment, and Romance Scams

    Approximately 70% of Irish consumers have been targeted by some form of identity scam, according ...

    Consumers Lost €15.6M to Impersonation, Investment, and Romance 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

    Digital Payment Providers Collaborate with UBA to Combat Scams in the Financial Sector

    The National Payment Systems Services Association has collaborated with Uganda Bankers Associatio...

    Digital Payment Providers Collaborate with UBA to Combat Scams in the Financial Sector Explore More

    News

    Europol and EU Member States Launch Operation Targeting Assets of Sanctioned Entities

    Europol and EU member states along with Eurojust and Frontex have launched Operation Oscar to ass...

    Europol and EU Member States Launch Operation Targeting Assets of Sanctioned Entities Explore More

    News

    Jamaica Passes a New Bill to Counter Money Laundering

    The Senate has approved the Company (Amendment) Act 2023, which will enable Jamaica to meet inter...

    Jamaica Passes a New Bill to Counter Money Laundering Explore More

    News

    FinCEN Says Russia Cannot Evade Sanctions with Crypto

    Global lawmakers are taking a closer look at digital assets and how they can or cannot be used to...

    FinCEN Says Russia Cannot Evade Sanctions with Crypto Explore More

    News

    FINRA Issues its Examination and Risk Monitoring Program Report 2023

    FINRA published its 2023 report on its Examination and Risk Monitoring Program, covering all the ...

    FINRA Issues its Examination and Risk Monitoring Program Report 2023 Explore More

    News

    Australia DTA Consults on Upcoming “Trusted Digital Identity Bill”

    The consultation will facilitate the Trusted Digital Identity Bill, making digital identity syste...

    Australia DTA Consults on Upcoming “Trusted Digital Identity Bill” Explore More

    News

    UAE central bank alerts about fraud attempts related to Coronavirus epidemic

    Bank customers are warned of potential fraud by the UAE Central Bank. According to the bank, “Fra...

    UAE central bank alerts about fraud attempts related to Coronavirus epidemic Explore More

    News

    Russians Approach UAE’s Crypto Firms in Search of Safe Havens

    The UAE’s crypto firms and real estate sector are being used by Russians as safe havens to liquid...

    Russians Approach UAE’s Crypto Firms in Search of Safe Havens Explore More

    News

    US government favours a hands-off approach to AI’s regulation

    The white house listed 10 principles that federal agencies should consider when drafting laws and...

    US government favours a hands-off approach to AI’s regulation Explore More

    News

    Council of Europe Shows Support to Serbian Authorities For Combating Money Laundering

    The Council of Europe stays dedicated to showing support to authorities for fighting money-launde...

    Council of Europe Shows Support to Serbian Authorities For Combating Money Laundering Explore More

    News

    EFCC Urges DNFBPs to Align Operations with Newly Enacted Money Laundering Prohibition and Prevention Act 2022

    EFCC has called on designated non-financial businesses and professions to conduct their dealings ...

    EFCC Urges DNFBPs to Align Operations with Newly Enacted Money Laundering Prohibition and Prevention Act 2022 Explore More

    News

    Amended Secrecy Law to Help Philippines Exit the Grey-List

    The Philippines has proposed amendments to the Banking Secrecy Law to regulate financial accounts...

    Amended Secrecy Law to Help Philippines Exit the Grey-List Explore More

    News

    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...

    FCA Issues Report on Progress of Professional Body AML Supervision (OPBAS) Explore More

    News

    Crypto Under Threat – UK Banks are Blocking Payments

    Due to rising financial crimes related to cryptos, banks in the UK are blocking payments to crypt...

    Crypto Under Threat – UK Banks are Blocking Payments Explore More

    News

    AMLA Adds New Protections and Financial Incentives for US Whistleblowers

    Anti Money Laundering Act 2020, has amended the recently enacted AML whistleblower improvement ac...

    AMLA Adds New Protections and Financial Incentives for US Whistleblowers Explore More

    News

    Star Casino’s Share Tumbles 21% Following Money Laundering Allegations

    Individuals banned from gambling at the Star casino in Sydney had been permitted to gamble at Sta...

    Star Casino’s Share Tumbles 21% Following Money Laundering Allegations Explore More

    News

    After China, Japanese Officials Considering to Introduce Digital Currency too

    China has begun trials for its digital assets and issued 10 million yuan last week. The efforts o...

    After China, Japanese Officials Considering to Introduce Digital Currency too Explore More

    News

    Swedish Legislators Propose an Increase in Money Laundering Penalties for the Gambling Industry

    Legislators in Sweden will consider increasing penalties for gambling operators who violate the n...

    Swedish Legislators Propose an Increase in Money Laundering Penalties for the Gambling Industry Explore More

    News

    South Korean merchants open to accepting digital yuan

    According to the South Korean media, the local merchants could accept the upcoming digital yuan a...

    South Korean merchants open to accepting digital yuan Explore More

    News

    Zipmex Crypto Trading Platform Suspends All Activities in Thailand

    Zipmex cryptocurrency exchange firm withdrew all activities in Thailand until 31st January 2024 t...

    Zipmex Crypto Trading Platform Suspends All Activities in Thailand Explore More

    News

    FATF warns Turkey over Lapses in Money Laundering and Terror Financing

    Turkey has been warned by Financial Action Taskforce (FATF) because of its ‘serious shortcomings’...

    FATF warns Turkey over Lapses in Money Laundering and Terror Financing Explore More

    News

    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...

    HM Revenue & Customs (HMRC) Fines Property Firms Over £1 Million for Money Laundering Violations Explore More

    News

    Homeland Security Wants Facial Recognition For All Entering or Leaving US

    The federal government is considering changing airport security in a major way. Facial recognitio...

    Homeland Security Wants Facial Recognition For All Entering or Leaving US Explore More

    News

    Russian Central Bank Still Saying “No to Use of Crypto in Settlements”

    Russia’s Central Bank has put another wrench in the pro-business Ministry of Finance’...

    Russian Central Bank Still Saying “No to Use of Crypto in Settlements” Explore More

    News

    European Banking Authority Publishes Final Guidelines on Remote Customer Onboarding

    The European Banking Authority (EBA) has issued its final policies on remote customer onboarding ...

    European Banking Authority Publishes Final Guidelines on Remote Customer Onboarding Explore More

    News

    Financial Fraud Alerts in the UK are Most Prevalent in Crypto Firms, Reports FCA

    FCA has labeled crypto as the top sector for financial scam warnings in the UK.  As of now, there...

    Financial Fraud Alerts in the UK are Most Prevalent in Crypto Firms, Reports FCA Explore More

    News

    Philippine Plans to Introduce New Regulations on Beneficial Ownership

    The Securities and Exchange Commission in Philippine has laid out new regulations that require tr...

    Philippine Plans to Introduce New Regulations on Beneficial Ownership Explore More

    News

    Malaysia Leads Southeast Asian Peers in Implementing Anti-Money Laundering and Counter-Terrorism Financing Regulations

    Malaysian financial institutes are leading other South Asian countries in complying with anti-mon...

    Malaysia Leads Southeast Asian Peers in Implementing Anti-Money Laundering and Counter-Terrorism Financing Regulations Explore More

    News

    The market for Digital Identity Solutions expected to double by 2024

    The market for Digital Identity Solutions is predicted to double between 2019 and 2024, as report...

    The market for Digital Identity Solutions expected to double by 2024 Explore More

    News

    G-20 impels countries to adopt tough FATF Regulations on Cryptocurrencies

    Bankers and finance ministers in the G-20 (Group of Twenty) are urging for greater acceptance of ...

    G-20 impels countries to adopt tough FATF Regulations on Cryptocurrencies Explore More

    News

    US Treasury Hits Bittrex with $53 Million Fine Over Sanctions Violations

    The US Treasury Department has imposed a $53 million fine on Bittrex for violating sanctions and ...

    US Treasury Hits Bittrex with $53 Million Fine Over Sanctions Violations Explore More

    News

    Ransomware attacks increase as more people work from home

    According to a study published by the cybersecurity firm, Proofpoint, there has been an increase ...

    Ransomware attacks increase as more people work from home Explore More

    News

    Cambodia and China Strengthen Ties to Combat Illegal Online Gambling and Scams

    China’s Premier Li Keqiang and Cambodia’s PM Hun Sen have given a green signal to strengthen thei...

    Cambodia and China Strengthen Ties to Combat Illegal Online Gambling and Scams Explore More

    News

    Deutsche Bank AG Settles Money Laundering Probe Worth $7.1 Million

    Deutsche Bank AG settled a money laundering case of $7.1 million over the probe by Frankfurt pros...

    Deutsche Bank AG Settles Money Laundering Probe Worth $7.1 Million Explore More

    News

    AML Council Warns Financial Institutions to Strengthen Systems for Effective Money Laundering Prevention

    Banks and financial institutions should implement a strengthened anti-money laundering system to ...

    AML Council Warns Financial Institutions to Strengthen Systems for Effective Money Laundering Prevention Explore More

    News

    Tech Giant Olympus Hit by Ransomware Attack from ‘BlackMatter’, Successor of DarkSide

    More than 40 ransomware attacks have been attributed to BlackMatter, a ransomware-as-a-service gr...

    Tech Giant Olympus Hit by Ransomware Attack from ‘BlackMatter’, Successor of DarkSide Explore More

    News

    US government favours a hands-off approach to AI’s regulation

    The white house listed 10 principles that federal agencies should consider when drafting laws and...

    US government favours a hands-off approach to AI’s regulation Explore More

    News

    UK Parliament Legislates New Digital Identity Verification Services Bill

    On Wednesday, in the King’s Speech, the UK government presented a new Digital Identity Verificati...

    UK Parliament Legislates New Digital Identity Verification Services Bill 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

    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

    FIU Highlights the Risks of Money Laundering in Estonia Due to VASPs

    FIU has highlighted in its annual report the risk of money laundering and terrorist financing in ...

    FIU Highlights the Risks of Money Laundering in Estonia Due to VASPs Explore More

    News

    KYC/AML and Sanctions fines reach $5.6 billion mid-year for global financial institutions

    The leading provider of digital transformation and client lifecycle management (CLM) solution, Fe...

    KYC/AML and Sanctions fines reach $5.6 billion mid-year for global financial institutions Explore More

    News

    Banks warned against profiteering from UK coronavirus crisis

    British institutions, including banks, have been urged to avoid profiteering from the Coronavirus...

    Banks warned against profiteering from UK coronavirus crisis Explore More

    News

    Hong Kong Amends AML/CTF Laws to Include Crypto Exchanges

    Hong Kong’s legislative council has amended its Anti Money Laundering and  Countering Terrorist F...

    Hong Kong Amends AML/CTF Laws to Include Crypto Exchanges Explore More

    News

    FMA Blacklists Krypto Security, Bay Exchange, and CTRL Investments Limited

    New Zealand’s FMA has warned investors against services and products being offered by unauthorize...

    FMA Blacklists Krypto Security, Bay Exchange, and CTRL Investments Limited Explore More

    News

    EU Confirms its Firm Stance on All Digital Currencies

    The EU has confirmed its firm stance on all the digital currencies until the associated risks hav...

    EU Confirms its Firm Stance on All Digital Currencies Explore More

    News

    B.C. Real Estate Company Fined $230K for Multiple AML Violations

    Nu Stream Realty Inc. has been fined $230,423 for failure to comply with federal Anti-Money Laund...

    B.C. Real Estate Company Fined $230K for Multiple AML Violations Explore More

    News

    AUSTRAC, Home Affairs Say Tech Capability Not There Yet for Crypto Travel Rule

    While it is understood that the crypto Travel Rule will prove to be a ‘game changer’,...

    AUSTRAC, Home Affairs Say Tech Capability Not There Yet for Crypto Travel Rule Explore More

    News

    Increasing Incidents of Fraud Becoming a Threat to UK’s National Security: UK Finance

    Automated systems prevented approximately 736 million pounds ($1 billion) from being stolen throu...

    Increasing Incidents of Fraud Becoming a Threat to UK’s National Security: UK Finance Explore More

    News

    Australian Bank, Westpac, Accused of 23 Million Money Laundering Breaches

    Australia’s financial intelligence agency, The Australian Transaction Reports and Analysis Centre...

    Australian Bank, Westpac, Accused of 23 Million Money Laundering Breaches Explore More

    News

    Liberian Ministers Allegedly Laundering Money Using Foreign Lobbying Contracts, Investigation Reveals

    Liberia, one of the poorest countries in the world, is said to spend an enormous and highly suspi...

    Liberian Ministers Allegedly Laundering Money Using Foreign Lobbying Contracts, Investigation Reveals Explore More

    News

    Founders of US Crypto Firm Charged with Assisting North Korean Hacking Group in Laundering Money

    Two co-founders of the cryptocurrency firm Tornado Cash, Roman Semenov and Roman Storm, were char...

    Founders of US Crypto Firm Charged with Assisting North Korean Hacking Group in Laundering Money Explore More

    News

    Digital IDs Becoming Useful for Fighting Financial Crimes

    The use of digital IDs has proved to be advantageous for fighting financial crimes. Research has ...

    Digital IDs Becoming Useful for Fighting Financial Crimes Explore More

    News

    Ukraine Issues 14 Million Biometric Passports

    According to Ukrinform, more than 14 million biometric passports have been issued in Ukraine so f...

    Ukraine Issues 14 Million Biometric Passports Explore More

    News

    EFCC Urges DNFBPs to Align Operations with Newly Enacted Money Laundering Prohibition and Prevention Act 2022

    EFCC has called on designated non-financial businesses and professions to conduct their dealings ...

    EFCC Urges DNFBPs to Align Operations with Newly Enacted Money Laundering Prohibition and Prevention Act 2022 Explore More

    News

    The FATF Gives The Philippines 2-3 Months to Address Remaining Deficiencies

    Chuchi G. Fonacier, Deputy Governor of the BSP, said 4 of the 8 remaining Financial Action Task F...

    The FATF Gives The Philippines 2-3 Months to Address Remaining Deficiencies Explore More

    News

    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...

    MAS Imposes Capital Requirements on OCBC for Inadequate Scam Response Explore More

    News

    South Korea Extends AML Compliance Deadline for Crypto Sector

    The deadline has been extended to ensure regulators are able to process all the applications subm...

    South Korea Extends AML Compliance Deadline for Crypto Sector Explore More

    News

    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...

    US Officials allege student defrauded Apple as part of SIM swap attack Explore More

    News

    FinCEN Extends the Comment Period of Virtual Currency Regulations

    FinCEN– Financial Crimes Enforcement has finally agreed to reopen the comment period of reg...

    FinCEN Extends the Comment Period of Virtual Currency Regulations 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