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EU Legislation Bans On-cash Deals Over €10,000 Due to Money Laundering Threats
The European Union’s ban on cash payments over €10,000 for transactions such as car payments is e...
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SEC & NYDFS Oppose Binance $1 Billion Voyager Deal
The Securities and Exchange Commission and the New York Department of Financial Services have spo...
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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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UAE Regulatory Authority Enforces Import Invoice Verification to Fight Trade-Based Money Laundering
United Arab Emirates (UAE) has implemented the latest compliance regulations for importing commod...
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Singapore Authorities Investigates Bank’s Role in $1.8B Money Laundering Case
Singapore’s central bank started an investigation against banks involved in a $1.8b global wealth...
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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...
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‘EU Has Fragmented Approach to Combat FinCrime’, Says ECA
The European Court of Auditors (ECA) has identified weaknesses in the Anti-Money Laundering polic...
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FATF to Reassess Morocco’s AML Measures for Possible Removal from Gray List
The Financial Action Task Force (FATF) is all ready to reevaluate Morocco’s Anti Money Laundering...
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Phishing Scams Spike As Holiday Season 2021 Approaches
64% of the top courier companies have insufficient protection against phishing scams and other fr...
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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...
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Global Payments Industry At Risk Due to Cryptocurrencies, Says FinTech Boss
According to the boss of New York based investment banking company, Goldman Sachs, Cryptocurrenci...
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IRS And Foreign Tax Enforcers Warn of Increasing Money Laundering Risks in NFTs
The IRS and foreign tax enforcers have issued a warning of the increasing risks of money launderi...
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AUSTRAC Outlines Common Reporting Mistakes at Industry Outreach Event
Australian regulator, AUSTRAC, highlighted important reporting errors in AML/CFT programmes of re...
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FATF to Publish Revised Guidelines For Virtual Assets Service Providers
The Financial Action Task Force is all set to publish updated guidelines on virtual assets on Oct...
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AUSTRAC Has Published a New Guidance For Detecting “Cuckoo Smurfing”
AUSTRAC’s guidance offers indicators for financial institutions, to allow them to detect suspicio...
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Australian Payment Network Reports 9.2% Increase in Payment Card Fraud
AusPayNet reports that the e-commerce industry experienced a 9.2% rise in payment card fraud due ...
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Japan to Form Specialized AML/CFT Team in Response to FATF Review
Japan has been advised by the FATF to enhance cross-agency coordination and overcome barriers of ...
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Canada’s MP Introduces Private Member’s Bill to Amend Criminal Code
The members of parliament of Simcoe North, including the deputy minister of finance, have introdu...
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FinCEN Alerts FIs of Sanction Evasion by Russian Entities Implicated in U.S. Commercial Property Investments
FinCEN alerted all the Financial Institutions warning about the risk of investment from sanctione...
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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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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’,...
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US Regulators Worried about the Rise in Synthetic Identity Fraud
Synthetic identity fraud, a financial crime in the USA, is on the rise. This has concerned the Un...
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National Audit Office Plans to Review FCA’s Responsibilities
The National Audit Office (NAO) plans to assess the Financial Conduct Authority (FCA)’s growing r...
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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...
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Ireland Seizes More than €1m Cryptocurrency from Money Laundering Syndicate
Ireland seized over €1m in cryptocurrency as a part of an investigation against national and inte...
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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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‘Businesses need to brace for Iranian Cyberattacks’ – warns Homeland Security
The news of the assassination of Iranian military commander, Qaem Soleimani, is all over the medi...
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KYC Alliance between Dubai Economy and six banks
As reported by Gulf News, Dubai Economy along with Emirates NBD, Emirates Islamic, HSBC, RAKBANK,...
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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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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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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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FInTech solutions to be incorporated by Chinese banks
According to International Data Corporation (IDC), an international market intelligence firm, as ...
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Brazil to Become a Part of OECD and Plans to Launch IPO for Its Digital Bank
During a virtual event on Tuesday, Paulo Guedes, Brazil’s Minister of Economy, announced that the...
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Economic & Financial Crime Bureau Gets Legal Powers as an Independent Authority
The Economic & Financial Crime Bureau and Financial Intelligence Unit [Bailiwick of Guernsey]...
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Aussies Lost Record-breaking $851 million During COVID-19: ACCC Reports
Amid the pandemic, Australians lost a record-breaking amount of $851 million in 2020. According t...
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Myanmar Promises Improvements after FATF’s Blacklisting
Myanmar’s central bank has made promises of reforms and issued a warning against currency m...
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Remarkable Progress in Facial Recognition Revealed by a New Study
Could you have imagined a few years ago that you could be identified from your brain scan? The id...
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CSSF Imposed a €226,000 Fine on Maitland Over AML Compliance Failure
Maitland Luxembourg SA received a penalty of €226,000 over anti-money laundering and customer due...
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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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FinCEN May Release a YouTube Video to Outreach Latest BOI Rules
The Financial Crimes Enforcement Network (FinCEN) director stated they are creating awareness cam...
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The US publishes a list of North Korea’s supposed Crypto crimes
The US government, on Wednesday, outlined an aggressive set of countermeasures it said could hamp...
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OSCE – Eurasian Forum Combines to Counter Money Laundering and Terrorism Financing
The Organisation for Security and Co-operation in Europe (OSCE) supported the joint efforts with ...
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Crypto Adoption on the Rise, PayPal will Offer Crypto Payments in 2021
In the digital era, companies are shifting toward digital means of communication. Banks have plan...
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Standard Chartered Is Fined $13.6 Million by India’s AML agency
Standard Chartered Bank is fined $13.6 million by India’s anti-money laundering agency for 2007 d...
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Banks Ordered by BSP to Enhance the Filing of Suspicious Reports
MANILA, Philippines – In an attempt to ramp up its fight against financial crimes, the Bang...
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Anonymous Report Reveals Indian Indiscriminate Targeting Against NGOs
According to the shadow report, India has been indiscriminately targeting non-governmental organi...
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UAE Issues Guidance to Registered Unlicensed Crypto Firms
UAE’s regulatory authorities stated all unlicensed Virtual Service Providers (VASPs) companies wi...
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Japan FSA, Central Bank to Assess FI’s AML, Anti-fraud Measures
Reports have revealed that Japan’s FSA and BOJ are seeking to better understand whether the curre...
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Nepal Approves Anti-Money Laundering Bill to Comply with International Standards
Nepal endorsed an anti-money laundering bill as the initial step to combat financial crime and en...
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Investment Bank Fined by FCA for Failing with Due Diligence Requirements
An Investment Bank in London, Sapien Captial, has been penalised by the financial regulator, Fina...
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US Task Force Seizes Another Superyacht in the Battle Against Russian Oligarchs’ Corruption
A new US task force has partnered with the IRS and global entities to take down Russian oligarchs...
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Canada Seeks to Digitize ID-Documents for Enhanced Security Measures
Canada, Ontario’s government is working towards digitizing the identity documents and seeks publi...
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California’s EDD is Falling Behind in Legitimate Unemployment Claims
According to a report by Calmatters, California’s Employment Development Department is lacking be...
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N26 Fined $5M by German Watchdog for Delayed SAR
German regulator BaFin imposes a hefty $5 million penalty on digital banking company, N26, for un...
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Westpac CEO Brian Hertzer Resigns Amid Money-Laundering Scandal
The chief executive of Westpac Banking Corporation, Brian Hartzer, has resigned and the chairman ...
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EU Lawmakers Propose New Bill to Combat Money Laundering through NFTs
Members of the European Parliament have proposed a new bill to increase scrutiny of the NFT and D...
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Iran’s Finance Ministry Releases List of Individuals Suspected of Money Laundering
The Finance Ministry of Iran has released its first list of individuals suspected of having links...
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FATF Issues New BO Requirements to Address Pandora Papers
While addressing the Pandora Papers, the Paris-based global financial watchdog, FATF, has issued ...
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SRA Receives Fewer AML Violation Reports from England & Wales Despite Sanctions Drive
Anti Money Laundering (AML) violations in England & Wales reported to the Solicitors Regulati...
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Giaba Trains BDC Operators for Money Laundering & Terrorist Financing
GIABA (Inter-Governmental Action Group against Money Laundering in West Africa) has started a thr...
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Kount integrates AI software for immediate identity verification
Kount, a fraud prevention firm is planning on introducing the Identity Trust Global Network for t...
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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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Bank of Ireland Warns Customers of Rise in Phone Call and Text Scams
Bank of Ireland has warned clients of a surge in phone calls and text message scams. As per the f...
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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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Macau Police Arrests Cross-border Money Laundering Group for Illicit Financing of HK1.1 Billion
A group of 22 individuals were arrested by authorities in Macau and HK for suspicions of being in...
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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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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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PBOC Issues New Financial Rules to Curb Money Laundering Risks
The People’s Bank of China (PBOC), The China Banking and Insurance Regulatory Commission, a...
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DIA Warns Auckland Real Estate for Lax Money Laundering Prevention
The department of Internal Affairs has issued a formal warning to Auckland’s real estate company ...
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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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CBN, NFIU to Monitor Illicit Crypto Transactions in Centralized Exchanges
The CBN and NFIU have been urged to track illicit transactions in cryptocurrency by engaging with...
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£78 Million Stolen in Investment Scams, Warns FCA
FCA- Financial Conductive Authority has given out a warning as the investment scams regarding ‘cl...
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