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EU Proposes New AML Agency For Addressing Money Laundering
The EU document has been proposed to introduce tough action against money laundering in the regio...
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China’s Central Bank Fines ICBC & Bank of Chongqing for AML Shortcomings
Chinese banks including industrial and commercial banks of Chongqing have been fined by regulator...
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FATF Report Highlights Weaknesses in South Africa’s AML Systems
South Africa has a solid legal framework to combat money laundering and terrorist financing but h...
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Crypto Exchange Binance Banned by UK’s Financial Watchdog
Britain’s financial regulator, the FCA (Financial Conduct Authority) has said that Binance is no ...
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Singapore replaces passwords and ID documents with facial recognition systems
As reported by Strait Times, Singapore plans to replace passwords and identity documents with bio...
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Japan: FSA Sets a Firm Deadline For FI to Ensure Full AML/CFT Compliance
Japan’s Financial Services Agency (FSA) has strictly directed financial institutions to devise a ...
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Californian man apprehended in Moorpark ID theft case
A 37-year-old man in the Californian city of Bakersfield was arrested on Wednesday on suspicion o...
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COJ Organizes Anti-Money Laundering Unit to Meet FATF Standards
The Companies Office of Jamaica (COJ) has established an AML and CFT unit to comply with FATF req...
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EU Lawmakers to Initiate Discussions on AML Laws for Bitcoin, Ethereum & More
The EU’s parliament, commission, and council are set to initiate discussions on the issue of anti...
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FATF Publishes Two New Updates on Global ML/TF Risks
FATF, the international group that makes global Anti-Money Laundering and Countering Terrorism Fi...
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FinTech and InsureTech Booms in Israel as $120M Raised for Investments
FinTLV, a fund based in Tel Aviv, has announced that it has collected $120 million worth of funds...
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Money Laundering Cases Doubled in the Past Six Years – Eurojust Report
Eurojust has recorded around 3000 cases of cross-border money laundering over the last six years....
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Philippines AML Council Adds POGO to its Non-Compliance List
In its efforts to fight money laundering and terrorist financing, AMLC has added third POGO to th...
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Signature Bank under Criminal Investigation
US prosecutors are investigating the relation of Signature Bank with crypto clients as regulators...
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Westpac Proven Guilty of Breaching Money Laundering Laws after Commonwealth Bank
Westpac was accused of violating the money laundering laws and counter-terrorism financial allega...
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Britain’s FCA Fines Ghanaian Bank for Insufficient AML Regulations
The Financial Conduct Authority of the UK has imposed fines of £5.8 million on Ghana Internationa...
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Zoom improves user security by incorporating 2FA for all users
Zoom confirmed adding 2-factor authentication (2FA) for all the users of the platform. This marks...
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South Korea Unlikely to Legislate Crypto Regulations Before the U.S – Says FSC
South Korea’s Financial Services Commission focuses the cryptocurrency legislation. According to ...
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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...
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Financial regulators assure further assistance to the industry during COVID-19
Global financial regulators guarantee to provide ease in the regulations to deal with the COVID-1...
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EGBA Introduces New Guidelines to Prevent Money Laundering in Gaming Industry
EGBA (European Gaming and Betting Association) has announced new guidelines to improve the anti-m...
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Banks Introduce Confirmation of Payee to Tackle Fraud
The Confirmation of Payee (CoP) system was launched in October 2018 but implementation was delaye...
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Phishing Scam affects thousands of Banking App users
Thousands of customers have been exploited by a fake mobile banking app. The customers were sent ...
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US Rated as The Most Secretive Financial Jurisdiction in the World
The US has been ranked the most secretive financial jurisdiction in the world due to deterioratio...
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Conveyancers Used for Laundering Millions of Pounds across the UK
Government warns that hundreds of millions of pounds are being laundered by criminals across the ...
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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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Formal Warning Issued to Westpac Over AML Failures, RBNZ Discloses
The bank underreported 8000 corporate transactions made overseas between July 2018 and February 2...
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FCA Warns Against Unregistered Crypto ATM Use
The Financial Conduct Authority (FCA) has begun taking action against unauthorised crypto ATMs in...
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Electronics Giant Samsung Confirms a Data Breach Affecting Personal Information of Customers
Samsung announced a data breach involving customers’ personal information, assuring that so...
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UAE Authorities to Coordinate Efforts Against ML/TF Among NPOs
The UAE’s Ministry of Community Development and the Financial Intelligence Unit have established ...
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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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Hong Kong to Implement Background Checks for Accounting Students
Police will carry out a detailed background check of the students that plan on pursuing accountin...
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US Financial Authority Removes Provisional Crypto AML Regulations
The United States government removed two provisions from the National Defence Authorisation Act (...
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RBI Allows Multinational Banks to Retain Limited Data Abroad for AML Screening
KYC data can be retained in offshore bank branches for the purpose of sanctions and AML screening...
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France to Consider Amendment Obliging Crypto Firms to Obtain Licenses
In January 2023, the French Parliament will consider the amendment to cancel the favorable treatm...
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Rules for AMLC Inquiry for Bank Accounts Released by the Court of Appeals (CA)
On Sunday, the Court of Appeals (CA) issued its rule of process for assessing the deposit or inve...
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US Takes Steps to Regulate Digital Currency Amid Russian Sanction
President Biden signed an executive order on Wednesday wherein the federal government was urged t...
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Financial gain surpasses espionage as a top motivator in cyber attacks
NEW YORK – According to Verizon’s annual report on cybercrimes, money surpassed spying as t...
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Interpol Launches New Center to Combat Financial Crime
Interpol has launched a Financial Crime and Anti-Corruption Center (IFCACC) as part of efforts to...
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European Banking Authority Issues Latest Regulations on Crypto Travel Rules
The European Banking Authority (EBA) announced the new consultation process to implement the cryp...
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Unlisted Crypto Exchange, JPEX, Investigated for Criminal Charges by SFC
The Hong Kong Security and Futures Commission (SFC) warned an unlisted crypto exchange platform, ...
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Nigeria Remains on FATF Gray List Due to Compliance Failures
Nigeria failed to pass a full-scale AML system review conducted by the global regulatory authorit...
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Increasing Use of Cryptocurrency for Money Laundering Causes Concern in the Philippines
The use of cryptocurrency in money laundering is raising alarm for the Philippine Central Cank. T...
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FCA Says Bankman-Fried FTX Cryptocurrency Exchange Not Regulated in the UK
FCA warned crypto exchange FTX due to their unauthorized operations. The financial regulator clea...
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Georgia Ramps Up AML Measures to Combat Financial Crime
A new report released by the Council of Europe’s AML body has highlighted Georgia’s progress in c...
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Israel Enforces New Regulations for the Transfer of Digital Currency
The new digital currency regulations will allow Israeli banks to profit from cryptocurrency tradi...
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UK to Propose Regulatory Protocols for Stablecoins
The government of the UK has declared incoming regulations for stable coins currency. It has also...
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USAA Fined $140 Million for Inadequate Anti-Money Laundering Measures
Two federal regulatory authorities have fined USAA a collective $140 million for failure to imple...
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New York State Department Fines Robinhood $30m for Inadequate AML Compliance Measures
New York’s top financial regulator has fined Robinhood $30 million for failures and shortcomings ...
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UK’s Victoria Gate Casino Fined $613K over AML Failings
The Source of funds for 10 customers were left unidentified by UK’s Victoria Gate Casino, resulti...
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Binance Fined $3.4 million by Dutch Central Bank For Violating Regulatory Laws
The De Nederlandsche Bank (DNB) fined Binance with $3.4 million for failing to get regulatory ap...
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South Africa links fintech startups with financial regulators
South Africa’s financial regulators have initiated the Inter-governmental Fintech Working Group (...
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Germany to Establish New Regulatory Body to Combat Money Laundering
It has been reported that the German government will create a new regulatory body to combat money...
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South Korea FSC Identifies 14 ‘Fake’ Crypto Accounts Held by VASPs
All crypto accounts in South Korea are directed to register under their real names. Third-party b...
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FinCEN Extends the Comment Period of Virtual Currency Regulations
FinCEN– Financial Crimes Enforcement has finally agreed to reopen the comment period of reg...
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Prevailing Financial Crimes Make London a Safe Haven for Money Launderer
The UK’s capital is exposed to multiple financial crimes including money laundering and thefts wi...
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Regulatory Authorities to File a New Bill to Secure the Citizens from Cyber Criminal Activities
Senator Estrada filed a bill to protect senior citizens unfamiliar with modern technology from cy...
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Iran’s President Has Called for Legal Framework For Crypto Trading
Hassan Rouhani, the Iranian President, wants to legalize crypto trading and safeguard national in...
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Internet fraud complaints went up by 30% last year
As per Economic Affairs Minister Nathalie Muylle, Belgium’s Economic Inspection Unit received 29%...
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European Commission Lists Online Gambling a High-Risk Sector for Money Laundering
The European Commission has listed online gambling as a high-risk avenue for money laundering aft...
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AFSA Amends AML/CFT Rules for Compliance with FATF Recommendations
AFSA has introduced amendments to the AIFC Anti-Money Laundering and Counter-Terrorist Financing ...
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US Court Declares Bitcoin and ETH as Commodities, Dismissing Uniswap Lawsuit
A US court dismissed the Security Exchange Commission (SEC) lawsuit against the Uniswap protocols...
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UAE Freezes Assets of Irish Crime Syndicate for Laundering Money Through Dubai
The UAE has frozen the assets of Ireland’s Kinahan Crime Syndicate, mounting the pressure on an o...
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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...
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China Postpones New AML Rules Amid Privacy Concerns and Pushbacks
China has delayed the introduction of new rules for due diligence as financial institutions requi...
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Fintrac Warns Casinos of Gamers Paying with Bank Drafts
Canada’s anti-money laundering agency is warning casinos to be cautious of customers who pay for ...
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Ransomware attack exposes 1.5TB of stolen aerospace data
ST Engineering Aerospace’s US subsidiary experienced a ransomware attack that extracted about 1.5...
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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...
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China’s Top Leaders Indicate the Further Tightening of Financial Regulations
Chinese leaders have indicated that the country will move to further strengthening of financial r...
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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...
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DC lawyers can now accept crypto for legal fees
According to a report by Bloomberg Law, cryptocurrency can now be used to pay for legal services ...
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Shufti Nominated for Yalla Fintech 2020 Award
Shufti, an identity verification service provider offering KYC verification and AML screening...
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