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Indonesia to Pass Regulations to Control Money Laundering
Indonesia is looking to develop a strong regulatory framework to curb money laundering and terror...
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ACCC Calls for Heavy Penalties to Make Tech Giants Scam-free
The Australian Competition and Consumer Commission (ACCC) has demanded severe penalties linked to...
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NAB, Largest Casinos Operators Caught in AUSTRAC’s Wrath
National Australia Bank (NAB) and the two largest casino operators in Australia are under investi...
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SRA Fines a Law Firm £14,000 for Breaching ID Verification Regulation
A business organization is being penalized £14,000 by the Solicitors Regulation Authority (SRA) f...
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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...
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Bithumb, Coinone and Korbit Team Up for FATF Travel Rule Compliance
Bithumb, Coinone and Korbit have founded a joint venture to facilitate all efforts for maintainin...
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BSP Warns Banks Against Auto Loan Fraud
According to BSP, organized crime groups are using fake identities to sell vehicles under fake li...
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Global AML Watchdog FATF Puts UAE on the Grey List
The Paris-based Financial Action Task Force placed the UAE on the grey list for “strategic defici...
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Crypto and Forex Scams Cost Belgian Investors $12 Million
According to the Belgian financial watchdog, fraudsters stole approximately $12 million from the ...
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FATF says governments ineffective in stopping money-laundering
According to David Lewis, Executive Secretary, Financial Action Task Force (FATF), governments ar...
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Americans ‘work from home’ strategy present new targets for hackers
Coronavirus outbreak has forced organizations to let their employees work from home during the ou...
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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...
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U.S. SEC chair nominated to regulate crypto oversight
William Barr, United States Attorney General announced that President Trump is likely to task Jay...
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SA Banks at High Risk of Money Laundering & Terrorist Financing, Says Prudential Authority Report
South African banks have moved up into the high-risk category in the new report from the Prudenti...
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Switzerland Ill-Equipped in Fight Against White Collar Crimes: SFAO Report
The Swiss Federal Audit Office investigated Switzerland’s meager protocols against white-co...
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Binance Pulls Out its Rival Exchange Huobi from Money Laundering Attempt
Binance helped its rival crypto exchange, Huobi Global, recover the amount taken in a bridge expl...
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BaFin Threatens Deutsche Bank of Fines Over Weak AML Controls
Germany’s Financial Watchdog BaFin is not satisfied with the efforts of Deutsche Bank AG to contr...
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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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More than HK$8 Billion has been Laundered through Hong Kong Banks in 2020
Victims of online, phone and investment scams have been conned out of more than HK$8 billion (1.0...
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Instagram is Adding Age Verification to Protect Minors
Instagram is adding age verification in order to provide a safer online community to the minors. ...
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Austrian Gamblers Struggle to Recoup Money from Illegal Betting Sites
Austrian gamblers struggle to recoup money from illegal betting sites after gambling groups face ...
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The Brussels Threatens Emirates with Sanctions for Illicit Financial Flow
Think tank has ranked emirates to be the top destination for illicit financial activities. Brusse...
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New York’s Attorney General Bent on Shutting Fraudulent Crypto Platform
New York’s attorney general has filed a lawsuit against a cryptocurrency platform, known as Coins...
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Hong Kong Customs Commissioner Urges to Enhance Supervision in Crypto Exchange
Hong Kong’s Commissioner of Customs and Excise, Louise Ho Pul-shan, has urged to enhance the secu...
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Financial Intelligence Center Says SA Car Dealers Are at High Risk of Money Laundering
The Financial Intelligence Centre (FIC) has said that SA’s motor vehicle dealers are at a high ri...
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SEC Charges $79 Million Penalties on Broker Companies for Deficiencies in Recordkeeping
The Security and Exchange Commission (SEC) has imposed $79 million worth of penalties on brokerag...
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IMF Advocates CBDC and Global Crypto Regulations for Financial Stability
The new policies advocated by the IMF seek to minimize financial risks associated with the global...
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Monetary Authority of Singapore to Take Tougher Action Against Data Breaches
To address the data privacy concern, MAS has recommended that data privacy offences should be mad...
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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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Uganda Remains Greylisted by FATF for Money Laundering
There will be no change to Uganda’s status on the “grey list” due to the countr...
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WhatsApp Introduces Fingerprint Authentication For Android
WhatsApp has recently announced that its app can be locked with a fingerprint, now available on A...
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South Korea Seizes $47M Worth of Crypto from Tax Evaders
South Korean officials have seized $47 million in cryptocurrency from 12,000 individuals accused ...
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UAE Central Bank: AML Guidelines Issued for Licensed Financial Institutes
The UAE Central Bank has issued guidance for financial institutes to fight money laundering, terr...
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HKMA imposed a HK$6 million fine on Commerzbank for AML Failure
HKMA imposed a HK$6 million fine on Commerzbank for anti-money laundering failure. The bank has b...
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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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Vietnam’s Deputy PM Approves National Action Plan for the Prevention of Financial Crime
Vietnam’s Deputy Prime Minister Signed a National Action Plan for the control and prevention of M...
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Elon Musk proposes regulations on artificial intelligence
”Organizations developing artificial intelligence must be regulated”, says Elon Musk. This is not...
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The Corporate Transparency Act is Set to be Implemented in January 2024 Across the Country
The Corporate Transparency Act passed in 2021 is going into enforcement in a few days and will im...
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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...
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FIAU Fines iGaming Company Approximately €236,789 for Money Laundering
The Financial Intelligence Analysis Unit has ordered a Malta-based remote gaming operator to pay ...
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Nigerian Central Bank Announces Latest Guidelines to Combat Money Laundering
The Central Bank of Nigeria ordered all customers to link their Bank Verification Number (BVN) an...
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Chinese Watchdog Taking Action Against Many in the Massive Bank Fraud
The biggest bank fraud in China pushed the government to arrest hundreds of suspects. Regulators ...
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US Accuses Crypto Firms for Serving as Money Laundering Hub
The US Treasury’s department targeted the crypto mixers to combat internationally operated financ...
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SA Banks at High Risk of Money Laundering & Terrorist Financing, Says Prudential Authority Report
South African banks have moved up into the high-risk category in the new report from the Prudenti...
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Fake NFT Sold for £244k from Artist “Banksy’s” Website
A fake link directed bidders to an online auction for Banksy’s NFT, which was posted on the now-d...
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Wealthy Americans Targeted by U.S. in Panama Tax-fraud Probe
Financial authorities in the US obtained a legal mandate to acquire information about wealthy cit...
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Identity Thieves on the Hunt for Universal Credit Payments
The UK’s Department for Work and Pension (DWP) has been warning people for not repaying for the b...
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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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FCA Fines £642K to Sunrise Brokers for AML Failings
FCA imposed a £642K fine on Sunrise broker for facilitating fraudster trading and having an inade...
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Fake Zoom Invite Collapsed Australian Hedge Fund with a CyberAttack
A fake zoom invite has taken out $8.7 million in fraudulent invoices by the trustee and administr...
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Croatian Finance Ministry Proposes New Bill to Combat Money Laundering
The Croatian Finance Ministry has introduced a new bill for state institutions to monitor the ban...
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EU, UK and US Blame Russia for Cyberattacks on Internet Service Providers
Accusations were imposed on Russia due to the recent disastrous cyberattacks on the European sate...
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Coronavirus affects challenger banks as app downloads decline
According to Finbold, top challenger banks in the United Kingdom have noticed a sudden decline in...
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Law firm Clyde & Co. fined $635K for Breaching UK Money Laundering Laws
Global law firm Clyde & Co. was fined £500,000 ($635,613) on 11 January for multiple breaches...
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Four Biggest Irish Banks Join Forces for Enhanced Security Measures
Four biggest banks in Ireland, AIB, Bank of Ireland, PTSB, and KBC, have collaborated on the meas...
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Philippines’ Anti-Money Laundering Counsel Increases AML Measures for Casino Junkets
The Philippines’ Anti-Money Laundering Counsel (AMLC) has stated that it is currently impro...
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Singapore Introduces Face Verification for National ID Service
Not just authentication, but facial verification is mandatory for anyone who is using the nationa...
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UAE adopts digital identity and blockchain to fight COVID-19
Taking into account the recent Coronavirus outbreak, UAE’s Ministry of Community Development (MOC...
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Data Security at Risk Due to the Fake Lending Apps
Gained network access, pictures, and contact information are at threat due to the fake lending ap...
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GFI Study Reveals Weak AML/CFT Measures in Latin America and the Caribbean
The latest study by Global Financial Integrity (GFI) revealed that the Caribbean and Latin Americ...
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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...
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Central Bank of Morocco to Introduce a Comprehensive Crypto Regulation Bill
Morocco’s Central Bank is drafting a set of comprehensive cryptocurrency laws as the digital asse...
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ACCC Calls for Heavy Penalties to Make Tech Giants Scam-free
The Australian Competition and Consumer Commission (ACCC) has demanded severe penalties linked to...
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New Variations in Business Email Compromise Accounted for Losses of $43 Billion, Says FBI
Introduction of new variations in Business Email Compromise scams netted $43 Billion in losses ca...
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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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Gambling Commission Fines Entain £17m for Social Responsibility & Anti-Money Laundering Failures
Ladbrokes owner Entain has been fined £17m by the Gambling Commission for social responsibility a...
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Australian Police Launch Avarus, a Multi-task Force to fight Money Laundering
Australian Federal Police has set up a new multi-agency task force to fight prevailing financial ...
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BitMEX Founders Admit Violating Anti-Money Laundering Regulations
Two of the co-founders of crypto exchange BitMEX Arthur Hayes and Benjamin Delo have pleaded guil...
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CFTC Charges South African Pool Operator for BTC Fraud Worth $1.7 Billion
CTFC charges a South African pool operator Steynberg for the largest fraud case in the region inv...
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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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EU to Introduce Sixth ‘Anti-Money Laundering Authority’ for Crypto Oversight
The European Union is planning to introduce the sixth “Anti Money Laundering Authority” to look u...
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Google CEO voices his concerns regarding AI and its potential harmful damages in the future
Sundar Pichai, Google CEO gave a statement on Monday regarding Artificial Intelligence and its in...
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