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IRS Highlights Potential Risk of Fraud in NFTs and Cryptocurrencies
IRS highlights Non-Fungible Token (NFTs) and crypto as the potential risk of financial crimes, in...
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Zipmex Crypto Trading Platform Suspends All Activities in Thailand
Zipmex cryptocurrency exchange firm withdrew all activities in Thailand until 31st January 2024 t...
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German Customs to Strengthen Fight Against Organised Crime and Money Laundering
Christian Lindner, German Finance Minister, announced at the weekly cabinet meeting held at the C...
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The number of Bitcoin ATMs has increased to 8,000
The total number of Bitcoin ATMs across the world have crossed 8,000.
The United States has more...
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Japan’s regulator verifies 2 new digital currency alliances
Financial regulators in Japan have approved two organizations to act as digital currency associat...
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New Zealand Forces Banks To Strengthen Their Security Measures
New Zealand’s parliamentary committee has urged banks and financial institutes to bolster their s...
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William Hill to Pay £19M for Social Responsibility and AML Failings
The Gambling Commission has fined William Hill Group Businesses £19 million for failing to uphold...
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RBI to Strengthen KYC Guidelines for the Crypto Industry
IndiaTech has suggested enhancing the KYC guidelines and obligating the cryptocurrency industry t...
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US Imposes First-Ever Sanctions on Bitcoin Mixer for Money Laundering
The US Treasury recently announced that it has imposed the first-ever sanctions on a bitcoin mixe...
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FIAU Fines Crypto Firm €460,000 for Anti-Money Laundering Violations
FIAU (Financial Intelligence Analysis Unit) charged a crypto exchange and broker with a €463,235 ...
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UAE Making ‘Strong Progress’ in Efforts to Prevent Financial Crimes
The Minister of Foreign Affairs said that the UAE is making “strong progress” to prevent illicit ...
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Danske Bank Under Fire Over AML Shortcomings
The FSA has reprimanded Sweden’s Danske Bank over ‘shortcomings’ in its anti-money laundering con...
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FCA Fines TJM Partnership Limited £2 Million for Money Laundering
The Financial Conduct Authority has fined the investment firm TJM Partnership Limited £2m for ser...
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EU to Investigate Google and Facebook’s Data Collection Practices
The European Union has begun preliminary investigations into the data collection practices of Goo...
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MAS Imposed a Fine of $375,000 on UOB Kay Hian For Business Conduct Compliance Failures
The Monetary Authority of Singapore (MAS) imposed a fine of S$375,000 on UOB Kay Hian, a brokerag...
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CBUAE Revokes Dollar Exchange’s Licence over Regulatory Misconduct
The UAE Central Bank has revoked the licence of a dollar exchange house after it failed to keep a...
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Hong Kong Licenses Crypto Exchanges, Limiting Services to Professional Investors
Digital currency exchanges in Hong Kong will be obliged to apply for a license prior to offering ...
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UAE Issues $1.048 Billion Worth of Fines for Money Laundering & Terrorism Financing
UAE’s Executive Office to Combat Money Laundering and Terrorist Financing has claimed to collect ...
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Ireland embraces the EU’s Anti-Money Laundering (AML) directive
EU’s anti-money laundering directive has been actively embraced by countries all across the globe...
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ACRA to Impose Stricter Rules to Combat Money Laundering & Terrorist Financing
ACRA has proposed stricter rules for professionals and firms that assist businesses with corporat...
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“Cryptocurrency Could Become Worthless in Future”, Warns Bank of England
Due to anonymity and the potential risks associated with cryptocurrency, the Bank of England warn...
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Singapore Monetary Authority to Review Rising Card Scam Cases
The Monetary Authority of Singapore (MAS) is reviewing the liability framework for card scams, gi...
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Canada’s Federal Government Announces Public Consultation Regarding a New Framework for Digital Identity
Canada’s government announces public consultation for creating a federally regulated digital iden...
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AUSTRAC to Update Guidance for Threshold Transaction Reporting
AUSTRAC has made it mandatory for reporting entities to include a threshold transaction report (T...
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Saudi Arabia Takes New Measures to Tackle Financial Crime
Saudi Authorities have approved a new legislative measure designed to enhance their efforts in fi...
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Philippine Banks Struggle to Comply with AML Regulations
Philippian banks and financial institutions are struggling with compliances regarding the anti-mo...
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US Attorney General Warns about the Identity Theft this Holiday Season
The Federal Trade Commission states that more than 650,000 citizens’ identities have been comprom...
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Ledger Owners Scammed worth 1.1 Million XRP
Earlier this year Legsdger customers faced a leak of email and personal information. Now they are...
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UK Approves New Bill to Enhance Security in the Cryptocurrency Sector
The UK government has approved a bill to grant power to the authorities to seize cryptocurrency p...
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UAE to Include Crypto Framework in their 2021 Business Agenda
The financial watchdogs in the UAE are looking towards developing a detailed crypto framework in ...
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Singapore’s Public Warned Against the Highly Volatile Crypto World
Singapore’s financial regulators once again warn their public about the risks of the cryptocurren...
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Medical Testing Postpones Money Launderer’s Sentencing
The conviction of Mark Scott, a licensed advocate involved in laundering $400 million for the unp...
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Europol Convicts Israel-France Gang on $40 Million Money Laundering Plot
Europol’s joint investigation with French authorities has led to the dismantling of a Franco-Isra...
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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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Central Bank of UAE Issues Updated Guidance For Licensed Financial Institutions
CBUAE issues updated guidance for licenced financial institutions on growing risks of money laund...
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UAE Charges Six Companies with Dh3.2 Million for AML/CTF Violations
The UAE has fined six companies Dh3.2 million for failing to comply with Anti-Money Laundering an...
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UAE Starts to Scrutinize Businesses to Ensure KYC/AML Compliance
The UAE’s Ministry of Economy now starts the inspections of Designated Non-Financial Businesses a...
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Crypto Exchange BKEX Freezes Withdrawals Under Money Laundering Investigation
BKEX withdrawals were suspended after funds on its platform were used to launder money, according...
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Sri Lanka’s blockchain KYC platform to initiate ‘Shortly’: Central Bank
According to Daily Mirror Online, the Monetary Board has now finalized three software development...
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UAE Banks Asked to Strengthen their AML/CFT Measures
UAE financial institutions and the banks are required to prioritize eliminating money laundering ...
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Adelaide Casino to Face Court Action Over AML/CTF Violations
AUSTRAC has revealed the beginning of civil penalty proceedings in the Federal Court against SkyC...
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Money Mule Initiative Results Announced by the US Department of Justice
As a part of the Money Mule Initiative, the law enforcement depart of the USA has taken action ag...
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UK’s National Audit Claims FCA Takes Slow Crypto Enforcement Actions
The UK’s National Audit stated that the Financial Conduct Authority (FCA) has all the rights to c...
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SkyCity Entertainment Earmarks $29m for Anticipated AML/CFT Regulations Fine
Australian gaming company, SkyCity Entertainment, has provisioned $29m in anticipation of a civil...
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ODJFS Makes Efforts Against Fraud Schemes, Calling for Improved Safeguards
The Ohio Department of Jobs and Family Services (ODJFS) has estimated that approximately $506 mil...
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Turkey’s Regulatory Authorities Oblige Rigid Crypto Licensing Measures
Turkey’s Regulatory Authorities stated they will develop rigid regulations for crypto service pla...
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AFM Fines Robeco €2 Million for AML Compliance Failure
The Netherlands’ financial regulator AFM has fined Robeco €2 million for failing to implement ade...
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UAE Praises Singapore’s S$2.8b Financial Crime Bust
The director-general of UAE anti-money laundering and counter-terrorism financing commends Singap...
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BPI Crackdowns on Money Mules to Secure Financial Institutions
The Bank of Philippine Islands (BPI) was flagged on Wednesday as it was suspected to be involved ...
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IMF Seeks Tighter Checks on Kenyan Banks Amid Money Laundering Concerns
The International Monetary Fund (IMF) is tightening the checks to prevent money laundering and wa...
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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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UK FCA Orders Illegal Crypto Service Providers to Shut Down ATMs
The UK’s Financial Conduct Authority has ordered crypto firms operating illegally in the country ...
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American Gaming Association Updates Best Practices for AML
The American Gaming Association (AGA) has released updated “Best Practices for Anti-Money Launder...
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Abu Dhabi to Establish Executive Office to Combat Illicit Financial Flow
A specialised court in Abu Dhabi will be developed to oversee the measures to fight financial cri...
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Half of Anti-malware Products fail to Recognize Notable Threats
According to a new report by SE labs, Most popular, well-established cybersecurity solutions do n...
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Russian Financial Authorities Reach Consensus on Crypto Mining Regulation
Russian financial authorities have adopted a common ground on cryptocurrency mining regulation. T...
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US Army to Adopt Facial Recognition Technology for Securing Military Base
United States Army is looking to apply face recognition technology on their military base to imme...
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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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Cryptocurrencies marked as top AML and CFT Priority by FinCEN
FinCEN will soon be publishing regulations on how financial institutions can incorporate cryptocu...
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AUSTRAC Made to Take Back Seat as Australia Defies Global AML Regulations
Australian Transaction Reports and Analysis Centre has taken Australia’s largest business to cons...
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The EU and UK Announce Major Regulatory Reforms to Safeguard Crypto-Assets
EU implements unified crypto-asset regulations, MiCA, and incorporates Travel Rule to secure cryp...
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Major US Twitter accounts hacked in Bitcoin scam
Billionaires Elon Musk, Jeff Bezos, Barack Obama, Joe Biden and Bill Gates are among the many US ...
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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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US Treasury Department Discloses Latest Beneficial Ownership Information (BOI) Guide
The Money Laundering Bureau of the US Treasury Department issued the latest guide to assist small...
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FCA Probe into Barclays for Anti-Money Laundering Failings
The Financial Conduct Authority opened a probe into Barclays for suspected failings in compliance...
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Japan Remains Distrustful of Digital Yen Despite its CBDC Research
Japan’s Central Bank Launches research on the Central Bank Digital Currency but still remains uns...
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Uganda at Risk of Getting Blacklisted by FATF Unless it Addresses 16 Issues
Uganda is facing the risk of being added to a global blacklist for money laundering and terrorism...
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US Set to Disclose New Real Estate Regulations to Combat Money Laundering
The US Treasury Department is ready to introduce rigid regulations to close security loopholes in...
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US Crypto Firms Reluctant Towards New KYC/AML Proposal by FinCEN
The US crypto firm, Coinbase, sent a letter to FinCEN with a clear message, “There is no emergenc...
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FATF to “Gray List” UAE for AML Failings
The Financial Action Task Force (FATF) is considering adding the United Arab Emirates to its gray...
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Swiss FinTech Firm LeonTeq ‘Strongly Refutes’ Allegations of Suspicious Transactions
Swiss FinTech firm LeonTeq has rejected allegations of suspicious transactions with possible link...
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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...
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