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

    216.73.216.68

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

    money mule cries

    According to police investigations, the number of money mule activities in Cork city has doubled in the past year, with one account utilized to transfer EUR 50,000.

    Analysis of the 34 incidents that happened to date this year shows that almost half of the money mules under investigation were aged between 17 and 23 years.

    Sergeant Brian McSweeney, the crime prevention officer for Cork city garda division, said that there were 18 such cases last year, a significant spike from three in 2019. However, the smallest sum of money transferred this year was EUR 500 and the biggest was EUR 50,000.

    Money mules permit criminals to utilize their bank accounts for money laundering. The money is usually gained from illicit activities. While mules are often not aware of the criminals using their accounts, Gardai said money mules are complicit by assisting money launderers. 

    Sergeant McSweeney said: “Students are often targeted by organized crime gangs to act as money mules, laundering thousands of euros through their accounts in exchange for a few hundred euros. Anti-money laundering legislation is designed to prevent Organized Crime Gang members from opening up accounts so they need money mules to launder their money. Students are an easy target for these ‘money herders’. They are often approached online, on campus, or while out socializing”.

    He advised: “If you agree to allow your account to be used in this way you are committing the offense of money laundering. Money laundering is a serious offense which on conviction carries a maximum penalty of 14 years imprisonment and/or an unlimited fine.” 

    Gardai cooperated with the financial firms to curb money mules, and a special operation called Adverb is currently in action. Under this, the banking sector will be obliged to notify law enforcement bodies about money laundering activities or suspicious transitions.

    Sergeant McSweeney said: “If you do partake in this type of criminal activity you will be apprehended and the consequences could be life-changing for any young person who is thinking they are making an easy few euros by getting involved. Do not be that money mule.” 

    Last week, David Sheehan, a 23-year-old student was sentenced to six months in prison after she was found guilty under Section 7 of Criminal Justice (Money Laundering and Terrorist Financing) Act 2010. 

    Suggested Read: Money Mule Initiative Results Announced by the US Department of Justice

    Related Posts

    News

    FATF Publishes Two New Updates on Global ML/TF Risks

    FATF, the international group that makes global Anti-Money Laundering and Countering Terrorism Fi...

    FATF Publishes Two New Updates on Global ML/TF Risks Explore More

    News

    Philippines AMLC Releases New Study for Suspicious Transactions Linked to Casino Junkets

    The Philippines AMLC has officially published the latest study on suspicious transactions linked ...

    Philippines AMLC Releases New Study for Suspicious Transactions Linked to Casino Junkets Explore More

    News

    Central Bank of Nigeria Speaks About the Terrorism Fuelled by Cryptocurrency

    The Central Bank of Nigeria, comments on why it does not favour the means of digital currency and...

    Central Bank of Nigeria Speaks About the Terrorism Fuelled by Cryptocurrency Explore More

    News

    US Senator Warns ‘a Run on Crypto’ May Need Federal Bailout

    Elizabeth Warren, US Senator and a longtime bitcoin skeptic has shared her views about the upside...

    US Senator Warns ‘a Run on Crypto’ May Need Federal Bailout Explore More

    News

    Personal Privacy Concerns Raised over FinCEN’s Proposed Crypto Rules

    The advocacy group in their latest comment has disregarded the proposed regulatory requirements b...

    Personal Privacy Concerns Raised over FinCEN’s Proposed Crypto Rules 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

    CSIR Reports Surge in Cybercrimes Pertaining to Work-from-home Culture

    The Council for Scientific and Industrial Research (CSIR) has reported that cyberattacks have inc...

    CSIR Reports Surge in Cybercrimes Pertaining to Work-from-home Culture Explore More

    News

    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...

    IRS Highlights Potential Risk of Fraud in NFTs and Cryptocurrencies Explore More

    News

    China’s digital yuan to be tested by 19 firms including McDonald’s and Starbucks

    Starbucks and McDonald’s are among 19 businesses that will test China’s new digital c...

    China’s digital yuan to be tested by 19 firms including McDonald’s and Starbucks Explore More

    News

    SataBank is Set to be Formally Liquidated Over Money Laundering Concerns

    The liquidation of Satabank has affected prominent names with a massive due amount. The infirm se...

    SataBank is Set to be Formally Liquidated Over Money Laundering Concerns Explore More

    News

    HSBC Fined £64m for “Unacceptable AML Failings”

    HSBC was fined by the UK’s financial regulator for ‘deficient transaction monitoring controls’. W...

    HSBC Fined £64m for “Unacceptable AML Failings” Explore More

    News

    Coronavirus: UK economy recovering gradually, says Bank of England

    Bank of England (BOE) governor, Andrew Bailey, stated that there are signs of the UK economy grad...

    Coronavirus: UK economy recovering gradually, says Bank of England Explore More

    News

    Louisiana Approves First Regulation Requiring Age Verification to Access Pornography Sites

    Louisiana’s House of Representatives passed the bill against age verification in the porn industr...

    Louisiana Approves First Regulation Requiring Age Verification to Access Pornography Sites Explore More

    News

    Cyberattack Prompts Dallas Firefighter and Police Associations to Demand Identity Theft Protection

    It has been three weeks since Dallas’ operations were affected by a municipal network outage. Som...

    Cyberattack Prompts Dallas Firefighter and Police Associations to Demand Identity Theft Protection Explore More

    News

    FEMA Confirms Seizure of 288 Crore Funds of Chinese-owned NBFC

    The FEMA has confirmed the seizure of 288 crores worth of funds of a “Chinese-owned” ...

    FEMA Confirms Seizure of 288 Crore Funds of Chinese-owned NBFC Explore More

    News

    Central banks urged to introduce digital alternatives to cash

    According to a recent report from Positive Money, Central banks across the globe should issue a d...

    Central banks urged to introduce digital alternatives to cash Explore More

    News

    Over $700M Embezzled From Iraq’s Public Fundings – Anti Corruption Commission

    The Iraq Anti-corruption commission has pointed out the illegal use of people’s funding fro...

    Over $700M Embezzled From Iraq’s Public Fundings – Anti Corruption Commission Explore More

    News

    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...

    Regulators Express Concerns on TD Bank’s AML Practices Leading to Merger Termination to Acquire First Horizon Bank Explore More

    News

    Singaporean Banks Enhance Security to Combat Financial Crime

    The Monetary Authority of Singapore (MAS) stated that the country’s banks are enhancing security ...

    Singaporean Banks Enhance Security to Combat Financial Crime Explore More

    News

    US Infrastructure Bill Eyes on Introducing Stringent Crypto Provisions

    The infrastructure bill proposed in the US Congress aims at revamping how crypto exchanges perfor...

    US Infrastructure Bill Eyes on Introducing Stringent Crypto Provisions Explore More

    News

    Hong Kong Arrests 13 in HK$53 million Money Laundering Case

    13 people in Hong Kong have been arrested for money laundering and operating illegal gambling sit...

    Hong Kong Arrests 13 in HK$53 million Money Laundering Case Explore More

    News

    The Next Big Step- Blockchain-Based E-voting

    A Japanese firm, Layer X labs, has decided to work on the development of voting electronically by...

    The Next Big Step- Blockchain-Based E-voting Explore More

    News

    Hong Kong Police Arrests 19 Criminals and Halts a US $40.5M Money-Laundering Operation

    Hong Kong Police arrested 19 syndicate members pertaining to money laundering operations, involve...

    Hong Kong Police Arrests 19 Criminals and Halts a US $40.5M Money-Laundering Operation Explore More

    News

    France to Implement Stringent Regulations on Cryptocurrency

    France is planning on regulations that abolish the anonymity in cryptocurrency. Financial authori...

    France to Implement Stringent Regulations on Cryptocurrency Explore More

    News

    Central banks urged to introduce digital alternatives to cash

    According to a recent report from Positive Money, Central banks across the globe should issue a d...

    Central banks urged to introduce digital alternatives to cash Explore More

    News

    SriLankan Government to Enforce Money Laundering Law to Restrict Illicit Flow of Money

    The current scenario of the Sri Lankan currency’s downfall has become a reason for money la...

    SriLankan Government to Enforce Money Laundering Law to Restrict Illicit Flow of Money Explore More

    News

    French Magazine XXI to Reveal ICIJ’s Take on Tax Havens

    In an interview with ICIJ, XXI editor David Servenay says that the offshore world is more powerfu...

    French Magazine XXI to Reveal ICIJ’s Take on Tax Havens Explore More

    News

    “Student” Occupation Flagged for Money Laundering in Canadian Real Estate

    Son of “wanted for defrauding 60,000 investors” Chinese parents laundered millions of dollars int...

    “Student” Occupation Flagged for Money Laundering in Canadian Real Estate Explore More

    News

    MFSA, SEC, Along with FCA Introduces New AML Guidelines for Money Laundering Officers and Virtual Asset Service Providers

    The Malta Financial Services Authority (MFSA), Securities and Exchange Commission (SEC), and Fina...

    MFSA, SEC, Along with FCA Introduces New AML Guidelines for Money Laundering Officers and Virtual Asset Service Providers Explore More

    News

    Binance to Strengthen KYC Measures & Sanctions Enforcement with New Partnerships

    The global crypto exchange Binance has announced that it will strengthen its KYC controls & s...

    Binance to Strengthen KYC Measures & Sanctions Enforcement with New Partnerships Explore More

    News

    US Attorneys Probe into Binance Money Laundering Violations

    US federal prosecutors have reportedly issued subpoenas to several hedge funds connected with Bin...

    US Attorneys Probe into Binance Money Laundering Violations Explore More

    News

    Nigeria, Myanmar, and Türkiye Take Effective Steps to Meet FATF Recommendations

    Myanmar, Nigeria, and Türkiye are implementing effective measures to level up anti-money launderi...

    Nigeria, Myanmar, and  Türkiye Take Effective Steps to Meet FATF Recommendations 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

    Police busted a massive £215m money laundering ring in the Northern Ireland

    PSNI police arrested 7 individuals following one of the biggest money-laundering investigations i...

    Police busted a massive £215m money laundering ring in the Northern Ireland Explore More

    News

    New Jersey Hospital System Hit By a Ransomware Attack

    One of the largest hospital systems of New Jersey has reported that it was hit by a ransomware at...

    New Jersey Hospital System Hit By a Ransomware Attack Explore More

    News

    ICO Warns Public Bodies Over Failure to Respond FOI Requests

    ICO warned public bodies regarding Freedom of Information (FOI) requests failure. Different depar...

    ICO Warns Public Bodies Over Failure to Respond FOI Requests Explore More

    News

    China Warns of Money Laundering Risks Arising from NFTs

    China has warned of the financial risks associated with non-fungible tokens (NFTs) as three indus...

    China Warns of Money Laundering Risks Arising from NFTs Explore More

    News

    BC Law Society Holds Honorary Consul of Ukraine Accountable for Failure to Prevent Money Laundering

    BC Law Society holds Ukraine’s Honorary Consul accountable for failing to prevent money launderin...

    BC Law Society Holds Honorary Consul of Ukraine Accountable for Failure to Prevent Money Laundering Explore More

    News

    Latvia’s Bank Rietumu Fined EUR 5.85M Over Money Laundering Failures

    The Financial and Capital Market Commission has fined Bank Rietumu EUR 5.85 million over failures...

    Latvia’s Bank Rietumu Fined EUR 5.85M Over Money Laundering Failures Explore More

    News

    Singapore Plans to Amend Laws to Arrest Money Mules Facilitating Scams

    Singapore authorities have decided to amend laws for prosecuting money mules facilitating financi...

    Singapore Plans to Amend Laws to Arrest Money Mules Facilitating Scams Explore More

    News

    Fraudsters exploiting Coronavirus panic have scammed £1.6 million

    United Kingdom investigators have reported more than 500 COVID-19 associated scams and over 2,000...

    Fraudsters exploiting Coronavirus panic have scammed £1.6 million Explore More

    News

    DFSA and Financial Intelligence Collaborate to Combat Financial Crime in UAE

    Memorandum of Understanding (MoU) between the Dubai Financial Services Authority (DFSA) and the F...

    DFSA and Financial Intelligence Collaborate to Combat Financial Crime in UAE Explore More

    News

    The UAE Central Bank Revokes Dirham Exchange’s Licence for AML Misconduct

    Dirham Exchange, an exchange house based in the UAE, has had its licence revoked by The UAE Centr...

    The UAE Central Bank Revokes Dirham Exchange’s Licence for AML Misconduct Explore More

    News

    Federal Court Fines Digitex Futures $15M for KYC and AML Failings

    The Commodity Futures Trading Commission (CFTC) has made it public that the US District Court has...

    Federal Court Fines Digitex Futures $15M for KYC and AML Failings Explore More

    News

    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...

    The Age Verification Software Market to Experience Tremendous Growth by 2025 Explore More

    News

    UAE Banks Asked to Strengthen their AML/CFT Measures

    UAE financial institutions and the banks are required to prioritize eliminating money laundering ...

    UAE Banks Asked to Strengthen their AML/CFT Measures Explore More

    News

    UKGC Imposes EUR 780K Fine on Buzz Bingo for AML Failure

    Buzz Bingo has been fined £780,000 by the UK Gambling Commission (UKGC) for social responsibility...

    UKGC Imposes EUR 780K Fine on Buzz Bingo for AML Failure Explore More

    News

    Hong Kong Launches Meta Verse to Combat Crypto Crime

    CyberDefender Metaverse is the first metaverse platform launched by Hong Kong Police to combat cr...

    Hong Kong Launches Meta Verse to Combat Crypto Crime Explore More

    News

    London’s Bank Sees Rise in Crypto Scams Supposedly Backed By Celebrities

    An alarming surge in reports on crypto scams backed by celebrities is being seen by a major finan...

    London’s Bank Sees Rise in Crypto Scams Supposedly Backed By Celebrities Explore More

    News

    International Student Sues Commonwealth Bank for Money Laundering Scam

    An Indonesian student and her family sued the Commonwealth Bank as they lost millions of dollars ...

    International Student Sues Commonwealth Bank for Money Laundering Scam Explore More

    News

    Australia introduces new rules to tackle mobile identity theft

    Acma (Australian Communications and Media Authority) has introduced a new regulation to fight ide...

    Australia introduces new rules to tackle mobile identity theft Explore More

    News

    Poloniex Agrees to Pay $7.6M in Settlement of Sanctions Violations

    In a settlement with the Office of Foreign Asset Control (OFAC), Poloniex LLC, a former subsidiar...

    Poloniex Agrees to Pay $7.6M in Settlement of Sanctions Violations Explore More

    News

    EU Parliament Approves More Stringent Rules to Combat Money Laundering and Terrorist Financing

    The latest EU Parliament vote approves the formation of a new anti-money laundering authority and...

    EU Parliament Approves More Stringent Rules to Combat Money Laundering and Terrorist Financing Explore More

    News

    AUSTRAC Sues Star Casino for Alleged Anti-Money Laundering Breaches

    AUSTRAC has sued Star casino group with more civil penalties for doing business with ‘high-risk c...

    AUSTRAC Sues Star Casino for Alleged Anti-Money Laundering Breaches Explore More

    News

    CBN Introduces New Anti-Money Laundering Rules for Microfinance Banks

    The Central Bank of Nigeria has issued a guidance note that is aimed to prevent money laundering ...

    CBN Introduces New Anti-Money Laundering Rules for Microfinance Banks Explore More

    News

    EBA Issues Draft to Set up Central Database for AML and CFT

    On December 20, 2021, the European Banking Authority (EBA) issued its draft Regulatory Technical ...

    EBA Issues Draft to Set up Central Database for AML and CFT Explore More

    News

    European Commission Warns of Trade Laws Violation as EU Bans Tax-Haven Crypto Firms

    The European Commission has issued a new warning on breaching global trade laws as the EU bans ta...

    European Commission Warns of Trade Laws Violation as EU Bans Tax-Haven Crypto Firms 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

    FCA Reviews UK Small Trade Finance Lenders to Ensure Compliance

    FCA is reviewing UK’s small trade finance lenders to assess their due diligence, risk assessment,...

    FCA Reviews UK Small Trade Finance Lenders to Ensure Compliance Explore More

    News

    Video KYC: The New Normal in the Insurance Industry

    Since everything is moving to digital platforms, the Insurance Regulatory and Development Authori...

    Video KYC: The New Normal in the Insurance Industry Explore More

    News

    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...

    Dubai Jails 9 and Fines Over Dh15 Million for Money Laundering Explore More

    News

    Global Banks Slapped with a Total of $14.21 Billion Fines in 2020

    Finbold released a report on the global banks that were fined in 2020. According to the report, a...

    Global Banks Slapped with a Total of $14.21 Billion Fines in 2020 Explore More

    News

    FinCEN Hires First-Ever Chief Digital Currency Advisor to Curb Crypto Crime

    To eliminate the misuse of cryptocurrencies, Michele Korver has been appointed by FinCEN as the C...

    FinCEN Hires First-Ever Chief Digital Currency Advisor to Curb Crypto Crime Explore More

    News

    Barclays Prohibits UK Clients from Sending Debit and Credit Payments to Binance

    Barclays has stopped UK customers from transferring funds to Binance after the Financial Conduct ...

    Barclays Prohibits UK Clients from Sending Debit and Credit Payments to Binance Explore More

    News

    GIABA to Release Liberia’s AML and CFT Compliance Evaluation Report

    The GIABA has finally released its findings about Liberia’s gains and challenges in the fight aga...

    GIABA to Release Liberia’s AML and CFT Compliance Evaluation Report Explore More

    News

    Job Seekers Face Concerns of Identity Theft Through Fake Employment Scams

    Fake employment advertisements defrauded many job seekers with theft of money and personal detail...

    Job Seekers Face Concerns of Identity Theft Through Fake Employment Scams Explore More

    News

    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...

    FIAU Charges ECCM Bank €310,000 for Weak AML Controls 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

    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...

    Money Mule Initiative Results Announced by the US Department of Justice 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

    Star Entertainment Group Experiences $1.26B Loss after Money Laundering Investigation

    Star Entertainment Group experienced a major loss of $1.26 billion during the first half of 2023,...

    Star Entertainment Group Experiences $1.26B Loss after Money Laundering Investigation Explore More

    News

    Lloyds Bank of UK Issues Warning Over Increasing Threat of Crypto Scams

    Lloyds Bank revealed a rise in cryptocurrency investment scams and reported a 23% increase compar...

    Lloyds Bank of UK Issues Warning Over Increasing Threat of Crypto Scams 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