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Kuwait’s Largest Money Laundering Lawsuit, The Malaysian Fund Case Comes to An End
Kuwait’s criminal court has put an end to the largest money laundering case by ruling the family ...
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Taiwan and Singapore Strengthen AML Regulations for Virtual Asset Providers and Banks
Taiwan and Singapore enhance Anti-Money Laundering (AML) regulations for virtual asset service pr...
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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...
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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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Philippines: Banks Reminded to Closely Monitor and Report Suspicious Transactions
Philippines ramps up efforts to step out of the FATF’s grey list and reminds banks to monitor and...
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Experts Warn that Scammers are Exploiting EU Users on Meta’s Threads
Meta’s Threads app has become the newest platform for cyber scammers to commit identity theft, cr...
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Turkey Set to Toughen AML Laws on Crypto Asset Platforms
Turkey is designing new and stricter obligations to prevent crypto-asset platforms from money lau...
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Expanding Fraud in Digital Space—Florida’s Government Raises Awareness
The Florida Department of Agriculture and Consumer Services issued a newsletter to alert people r...
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Lawyers in Malta Lag Behind in Complying with AML Measures
Malta obliged the various sectors to comply with risk assessment measures. According to the Finan...
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WhatsApp Receives Fine Worth $267m for Breaching EU’s Data Privacy Law
Ireland’s Data Protection Commission has stated that WhatsApp failed to inform EU citizens suffic...
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Fed Board Issues Directives Restricting Member Banks Holding Crypto as Principal
The US Federal Reserve rule cemented the Central bank’s caution about crypto asset activities, pr...
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The US Treasury Department OFAC Enforces Whistleblower Programmes
According to the US Treasury’s Department Office of Foreign Assets Control (OFAC), companies must...
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Jamaica Passes a New Bill to Counter Money Laundering
The Senate has approved the Company (Amendment) Act 2023, which will enable Jamaica to meet inter...
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NGOs Advised on Due Diligence to Tackle Terrorism Financing
The Financial Crimes Commission’s SCUML has advised Non-Governmental Organizations (NGOs) to cond...
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US Crypto Industry Faces Pushback on Implementation of Crypto-Friendly Legislation
The US crypto firms visited Capitol Hill to push their industry-friendly regulations however, thi...
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Bank of Ghana Proposed Guidelines to Strengthen AML/CFT Regulation
The Bank of Ghana proposed guidelines for banks to enhance the Anti-Money Laundering and Combatin...
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Europe Bolsters Fight Against Financial Crime with AMLA Formation
The European Parliament (EP) and European Union (EU) council teams have agreed to create the Euro...
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Enhanced AML/CFT Framework Pays Off – Mauritius Off FATF’s Grey List
Implementing an enhanced AML/CFT framework brings terrific news for Mauritius as they are off FAT...
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FATF Calls for Tighter Regulations to Fill Voids in Virtual Asset Compliance
The Financial Action Task Force (FATF) highlighted a regulatory gap in the compliance system for ...
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FIAU Imposes €60,000 Fine on Audit Firm for AML Failings
€60,000 fine imposed on an audit company, for failing to report money laundering and suspected ta...
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Cyprus to Test UBO Registration System for AML Compliance
The government of Cyprus has indicated it will test a system for registering ultimate beneficial ...
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SFC Imposed a HK$9 Fine on RIFA Future for KYC Failings
RIFA Limited was charged by the domestic regulatory authority of Hong Kong, the Securities and Fu...
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FTX Customers File Class Action Against Bankrupt Crypto Exchange
FTX customers had filed a class action against the bankrupt crypto exchange and its ex-CEO Sam Ba...
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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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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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China Tackles Money Laundering in Wild Species Trade
China’s Wildlife Protection Department, TRAFFIC organised training sessions for the anti-money la...
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Hacker Group Profited $7M in Crypto by Selling Stolen Credit Cards
A hacker group “Keeper” developed an interconnected network of over 570 eCommerce sites to steal ...
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China’s Law Enforcement Authorities Issue Warning Against NFTs to Curb Financial Crimes
China’s three major banking regulators have issued a warning against non-fungible tokens (NFTs) w...
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UAE to be Removed from FATF Gray List in 2024
The UAE’s Minister of State for Foreign Trade and chairman of the Emirates Bullion Committee hope...
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$9.8 Million Lost, 40 Arrested in Twitch Money Laundering Scheme
On Tuesday, 4th January, Turkish police took 40 suspects into custody from 11 provinces for alleg...
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Reports Reveal NAB Contract Workers Received Little to No AML Training
The disclosure follows AUSTRAC’s recent launch of a formal investigation into NAB earlier this mo...
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Central Banks of UAE and Saudi Arabia Released a Joint Report on CBDC
A joint report published by the central banks of UAE and Saudi Arabia, two countries with the mos...
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Shufti beats 26 global competitors in the Video KYC challenge at MEFTECH KSA
Yesterday, February 26, Shufti was announced the winner of the Lulu money’s Video KYC for Cus...
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Cambridge University Hospital Breach Exposes Data of Cancer and Pregnancy Patients
The Cambridge University Hospital admitted they mistakenly leaked over 22,000 pregnant women and ...
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Hong Kong regulators looking into possible overcharging by brokers
HONG KONG – Hong Kong’s financial regulators announced on Monday that they would analyze th...
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The United Kingdom implements new Anti-Money Laundering regulations
The United Kingdom’s finance and economics department has announced the incorporation of new Anti...
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Cybercriminals demanded $3 million ransom from Travelex
The hackers behind a cyber attack on a foreign exchange firm Travelex ordered to pay $3 million r...
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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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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...
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Regulators Criticise Deutsche Bank over Forex Mis-selling Probe
ECB and BaFin have told Deutsche Bank that they are “not satisfied” with its probe into mis-selli...
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Court Filing Reveals that Hundreds of Roblox users Are Laundering Money Using In-Game Currency
Roblox, one of the popular video game platforms having over 58 million users, is being used to la...
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Enhanced AML/CFT Framework Pays Off – Mauritius Off FATF’s Grey List
Implementing an enhanced AML/CFT framework brings terrific news for Mauritius as they are off FAT...
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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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Latin America’s Private Investment Funds at Risk of Money Laundering
Private investment funds are exposed to money laundering as they contain a number of structural r...
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CFTC Fines CHS Hedging for AML and Other Violations
The Commodity Futures Trading Commission (CFTC) has fined CHS Hedging a civil monetary penalty of...
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The UK’s NCA Establishes New Unit to Clamp Down on Corrupt Elites & Money Launderers
The UK’s National Crime Agency (NCA) created a new unit with the aim to target and investigate co...
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Beware: Vaccine-phishing scams have risen by 500 percent
Vaccine-phishing scams have increased by 530 per cent, as stated by a new study by Unit 42, the P...
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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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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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Ransomware attacks rise as criminals target remote working
Ransomware attacks are getting bigger and bolder at a time where many organisations are implement...
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Nepal’s Foreign Employment Sector Witnesses a Surge in Fraudulent Cases
The number of individuals seeking international employment from Nepal has increased, and so do th...
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455 Social Media Accounts Flagged for Rolling Out Fake IDs – Europol Reports
455 social media accounts flagged by Europol, which were providing fake identity documents to ill...
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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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UK’s Financial Watchdog Goes Real-time to Catch Online Criminals
The FCA is sweeping the internet on a day-to-day basis to pull out cybercriminals, as the number ...
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Crypto firms Halt Business in China After an Intense Government Crackdown
Cryptocurrency businesses have stopped their operations after the government led an intense inves...
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Swedbank cuts former CEO’s Golden Parachute over Money-Laundering
STOCKHOLM – Swedbank has canceled the severance pay of former CEO, Birgitte Bonnesen after ...
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The IRS Issues Last Minute-Warning To Avoid Tax Penalties
A new warning has been issued by the IRS with the introduction of an identity protection pin that...
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US Treasury Holds Back AML Reforms Despite Money Laundering Through Art Industry
The US Treasury Department has found the country’s art market to be vulnerable to financial crime...
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FCA Fines ADM Investors for Violating Anti-Money Laundering Regulations
The UK regulatory department Financial Conduct Authority (FCA) fined $7.9 million to the commodit...
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More Crypto Regulations on Their Way, Says Head of Turkish Central Bank
A few days ago, the Turkish Central Bank imposed a complete ban on cryptocurrency payments. Now,...
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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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Google to Improve its Compliance Program After BTC-e Data Loss
Google has committed to strengthening its legal compliance program after losing data linked with ...
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FinTech Market Gaining Traction in Asia, Slowing Down in US
The Financial Technology (FinTech) market is booming in Asia, especially in China according to a ...
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Italy Launches Money Laundering Investigations into Qatargate Associates
Italian prosecutors have launched a probe related to the EU parliament Qatargate affair as a new ...
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Financial Watchdogs Flags Crypto Mixer Stoking as a Potential Risk For Money Laundering
Cryptocurrencies are highly criticized by financial watchdogs and governments for potential risk ...
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China’s securities watchdog commits to clean up financial markets
SHANGHAI – China’s security watchdog vowed a number of measures to clean up its financial m...
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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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MAS Imposes Capital Requirements on OCBC for Inadequate Scam Response
Additional capital requirements have been imposed on the OCBC bank by the Monetary Authority of S...
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5 Billion Unique Credentials Circulating on Darknet
According to the report released by security firm Digital Shadows, a total of 15 billion user cre...
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Wellington Real Estate Company Fails to Report Suspicious Activity on Properties
Mills Gibbon and Co, a Wellington-based real estate company, has been warned by the Department of...
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HEDA Calls for Professional Regulatory Bodies to Sanction Corruption Enablers
The Human and Environmental Development Agenda (HEDA), the leading civic society organization on ...
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Cloudflare Discloses Another huge DDoS Attack
Amid the COVID-19 outbreak, a surf in internet traffic can be seen and thus, an increase in cyber...
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