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The UK plans to levy on banks to prevent money laundering
According to Reuters, Britain plans to announce a new levy on banks and other financial instituti...
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FATF to Blacklist Myanmar Over Money Laundering Concerns
Myanmar faces a blacklisting threat by a FATF because of AML compliance failure and weak regulati...
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El Salvador’s Adoption of Bitcoin as Legal Tender Raises ML/TF Risks
El Salvador has become the first country to accept Bitcoin as a legal tender.
On 8 June 2021, El...
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Estonian Government to Strengthen AML Framework to Lift Crypto Ban
The Estonian Finance Ministry drafted AML amendments that will affect virtual asset service provi...
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FCA Declares £147m Fine on Credit Suisse for Due Diligence Failings
Credit Suisse was fined £147,190,200 for breaching FCA’s Principle 2 and 3 for Businesses as it f...
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UK Fines Dixons Carphone for Massive Breach
Dixons Carphone is one of the largest electronics and phone retailers in the UK. Recently British...
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IAMAI To Set Up A Board To Ensure Voluntary Compliance With AML & KYC
New Delhi: On Tuesday, June 1st, the Internet and Mobile Association of India (IAMAI), announced ...
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Star Casino’s Share Tumbles 21% Following Money Laundering Allegations
Individuals banned from gambling at the Star casino in Sydney had been permitted to gamble at Sta...
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Swiss Watchdog FINMA Mandates AML Policies on Crypto
The new legislation is trying to combat money-laundering following a series of major scandals in ...
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Amended Secrecy Law to Help Philippines Exit the Grey-List
The Philippines has proposed amendments to the Banking Secrecy Law to regulate financial accounts...
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$196M Lost in BitMart Hack, Crypto Analysts Warn More Will Come
BitMart, one of the world’s largest cryptocurrency exchanges, lost $196 million in a recent...
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GBA to Organize Two-day Training Workshop for Addressing AML and CFT Concerns
GBA concluded a workshop on AML and terrorist financing concerns to avoid any possible threats of...
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Deutsche Bank to Revise its Compliance and Risk Management Functions
Deutsche Bank is working on reforming its compliance function and risk management measures. The b...
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MAS Ramps Up Efforts Against Financial Crimes With the Help of Data Analytics
Singapore’s central bank has revealed in a report on Wednesday that financial criminals will be p...
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SRA, India’s FIU, and the ACMA Issue Non-Compliance Fines Exceeding $2 Million
The Solicitors Regulation Authority [SRA], India’s Financial Intelligence Unit [FIU], and t...
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Hong-Kong Police Crack money-laundering Cartel of Processing HK$119 Million in 2 months
Hong Kong police have rounded up 11 men in a crackdown on a cross-border syndicate with a suspect...
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RBI Gives Stark Warning Against Emerging KYC Fraud
RBI states that sensitive details should not be disclosed via unverified or unauthorised channels...
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MAS Ramps Up Efforts Against Financial Crimes With the Help of Data Analytics
Singapore’s central bank has revealed in a report on Wednesday that financial criminals will be p...
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SEC Enforces Srilankan Compliance Officers To Conduct Adequate AML Measures
The Security Exchange Commission of Sri Lanka (SECS) and Colombo Stock Exchange (CSE) recently ar...
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Isle of Man Urged to Take Further Steps to Counter Money Laundering
The Council of Europe’s anti-money laundering committee has again called for an extension in the ...
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Hong Kong Custom Busts Money Laundering Ring Accused of Smuggling HK$170M
Investigators suspect that the criminal gang laundered part of the cash through casinos in Macau....
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Google Warns 12,000 Victims of Government Hacks
In just three months, from July to September 2019, Google sent out 12,000 warnings to people who ...
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Hong Kong Amends AML/CTF Laws to Include Crypto Exchanges
Hong Kong’s legislative council has amended its Anti Money Laundering and Countering Terrorist F...
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$196M Lost in BitMart Hack, Crypto Analysts Warn More Will Come
BitMart, one of the world’s largest cryptocurrency exchanges, lost $196 million in a recent...
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ACRA to Impose Stricter Rules to Combat Money Laundering & Terrorist Financing
ACRA has proposed stricter rules for professionals and firms that assist businesses with corporat...
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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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Fraudulent crypto exchange shut down by UK High Court
The UK High Court has designated the Official Receiver as liquidator of GPay Ltd, the cryptocurre...
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Lloyds Bank Charged with £500K Fine for Breach of Financial Regulatory Standards
Lloyds Bank corporate markets jersey received a fine of £498,000 in relation to the dealings with...
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UAE: Virtual Asset Fraudsters to Face Imprisonment, Dh 1M Fine
Residents in the UAE have been advised to perform due diligence procedures prior to investing in ...
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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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Ransomware attack targets Victoria Beckham’s personal data
Maze, the Ransomware gang strikes again. It seems that the victim this time is a US-based indepen...
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Danske Bank Under Fire Over AML Shortcomings
The FSA has reprimanded Sweden’s Danske Bank over ‘shortcomings’ in its anti-money laundering con...
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Biden Going After Crypto Tax Evaders with Data Sharing Initiative
President Biden’s administration is proposing global cooperation to curb the threat of crypto-rel...
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China’s Digital Currency Could Be Launched ‘Quite Soon’
Within the next 6 to 12 months, China could launch its own digital currency which may become a ch...
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Deutsche Bank to Revise its Compliance and Risk Management Functions
Deutsche Bank is working on reforming its compliance function and risk management measures. The b...
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US Treasury Department Discloses Latest Beneficial Ownership Information (BOI) Guide
The Money Laundering Bureau of the US Treasury Department issued the latest guide to assist small...
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Moroccan Charity, Najiba Foundation, Faces Account Termination by ING Bank for AML Failures
Internationale Nederlanden Groep (ING) wants to terminate one of the largest Moroccan charity fou...
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Few Hours Left! Was Mail-in-Ballots Successful?
The US elections 2020 have been exhilarating yet stressful for all the residents. The coronavirus...
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ECB Will Be Launching Digital Euro Project
An electronic equivalent of banknotes and coins, the digital euro will likely be a digital wallet...
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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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AUD 10 Billion Money Laundering Ring Caught in Australia, Further Highlighting the Country’s AML Failures
AUD 10 billion ($6.5 billion) in global money laundering was allegedly uncovered in Sydney by the...
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FATF Publishes 35 New Indicators Against Trade-based Money Laundering
Financial Action Task Force (FATF) and Egmont group has published a new report on risk-indicators...
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Artist Sues AI Generators for Alleged Industrial-Level Identity Theft
Artist, Karla Ortiz, has sued two artificial intelligence firms for generating images that mimic ...
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Crypto-Supporting Digital Cards to be Launched Soon in China and Korea
UnionPay, an analogue for Visa and Mastercard service providers, has partnered with Danal, a Kore...
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Austrac Warns of Money Laundering Risks Unless More Prosecutions are Conducted
Austrac has warned the law enforcement agencies in Australia that they must conduct more money la...
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EU Regulators Say Crypto Exchange Licenses Should be Revoked for Money Laundering
EU regulators have proposed that the licenses of crypto exchanges should be revoked in case of se...
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Art Dealers Urged to Intensify Regulatory Actions Against Money Launderers
The Department of Justice is establishing new rules to combat financial crimes via the art market...
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Lebanon Central Bank Denies Money Laundering Allegations and Embezzlement Charges
The governor of the Lebanese central bank appeared in the first court hearing on the premise of s...
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FCA Under Pressure for Compliance and Authorisation Delays
The FCA is being approached by regulatory experts due to backlogs in the provision of regulatory ...
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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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Ransomware attacks three US universities
A ransomware group has successfully stricken three universities within the week. They claim that ...
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President of Argentina Open to CBDC Adoption but Central Bank Says No
Alberto Fernandez, President of Argentina showed openness to adoption of Bitcoin and Central Bank...
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FCA Hints Why only 15% of Crypto Firms Received Regulatory Approval
The UK financial watchdog has approved only 41 registration applications of crypto firms out of 3...
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Nepal at Risk of ‘Graylisting’ for Allowing Money Laundering
Nepal could be added to FATF’s greylist as the global AML watchdog has found a number of deficie...
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Cambodia and China Strengthen Ties to Combat Illegal Online Gambling and Scams
China’s Premier Li Keqiang and Cambodia’s PM Hun Sen have given a green signal to strengthen thei...
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US Imposes First-Ever Sanctions on Bitcoin Mixer for Money Laundering
The US Treasury recently announced that it has imposed the first-ever sanctions on a bitcoin mixe...
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Singapore Central Bank to Utilize AI Technology to Combat Money Laundering
The Monetary Authority Singapore (MAS) seeks to utilise AI technology to bolster the security of ...
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Egypt Government to Establish Central Bank Unit for AML and CFT
On Wednesday the cabinet approved a draft law amending some regulations within the Anti-Money Lau...
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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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1.6M Unemployment Claim Filers Exposed Due to Data Breach
The Washington State Auditor’s Office has investigated an incident that has exposed the personal ...
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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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CBUAE Issues New AML/CTF Guidelines for the Insurance Sector
The Central Bank of the UAE (CBUAE) has announced new Anti Money Laundering and Countering Terror...
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Oman’s CMA Initiates Efforts to Improve Anti-Money Laundering Measures
Oman’s Capital Market Authority is sharpening its focus on improving its anti-money laundering an...
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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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CBA Fails to Disclose AML Non-Compliance to Investors, A Court Hears
A court has heard that the CBA should have informed the market that it may have engaged in “law-b...
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U.K Accelerates New Plans to Crack Down on Foreign Money Laundering Activities
The U.K plans to crack down on money laundering activities, legislate new laws to register foreig...
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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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Social Media Firms May Face Parallel Regulation – Says Data Protection Authority
Social media platforms approached the I&B ministry citing apprehension that they may face par...
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Hong Kong Looking to Legitimize Crypto Trading for Retail Investors
The government of Hong Kong has been looking at whether to legitimize crypto trading for retail i...
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Gambling Commission Imposed a £6.1 Million Fine on Touch Games for Money Laundering Failings
The Touch Games, a gambling firm that operates 11 websites, has been fined £6.1 million over fail...
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Taiwan Finalise New Regulations for Offshore Crypto Exchanges
Taiwan is set to disclose new obligations for offshore crypto exchange companies, with rigid Anti...
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Crown Resorts Accused of ‘Serious and Systemic’ Money-Laundering Breaches
AUSTRAC has brought Crown Resorts to court as the casino breached anti-money laundering regulatio...
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