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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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Swiss Court Seeks $45m Compensation in Credit Suisse Money Laundering Case
Federal prosecutors in Switzerland are seeking compensation of $45 million in the Credit Suisse m...
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Central Bank of UAE Issues Updated Guidance For Licensed Financial Institutions
CBUAE issues updated guidance for licenced financial institutions on growing risks of money laund...
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UAE Banks Asked to Strengthen their AML/CFT Measures
UAE financial institutions and the banks are required to prioritize eliminating money laundering ...
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€18 Million of Illicit Cash Flows Undetected Across 25 EU States in Two Weeks
A major customs operation, BELENOS, by the French Customs authorities, has unveiled an illicit fl...
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FATF Removes Cayman Islands and Panama From Increased AML Monitoring List
In the last plenary meeting of the Financial Action Task Force (FATF) on October 27th, the Cayman...
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FCIU Uncovers Money Laundering Patterns Through Social Media Scams
South Yorkshire law enforcement authority has seized EUR 70,000 placed in the illicit gambling ac...
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The Anti-Money Laundering Solution Market is Expected to Double by 2025
According to the latest AML solution market report 2020-2026, the post coronavirus pandemic had a...
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Central banks urged to introduce digital alternatives to cash
According to a recent report from Positive Money, Central banks across the globe should issue a d...
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FINMA, SFC, and MAS Fine Multiple Financial Institutions Over $1.5 Billion For Money Laundering Activities
FINMA, SFC, and MAS fined multiple financial institutions over $1.5 billion for not complying wit...
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ProtonMail added an encrypted calendar to its encrypted Gmail competitor
Previous year Google faced a hefty fine of $170 million by the Federal Trade Commission following...
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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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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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The EU and UK Announce Major Regulatory Reforms to Safeguard Crypto-Assets
EU implements unified crypto-asset regulations, MiCA, and incorporates Travel Rule to secure cryp...
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Russian Central Bank Still Saying “No to Use of Crypto in Settlements”
Russia’s Central Bank has put another wrench in the pro-business Ministry of Finance’...
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Taiwan’s Ministry of Justice Proposes Amendments in AML Laws to Strengthen Fraud Measures
The Ministry of Justice (MOJ) called for adequate measures in AML compliance and a streamlined sy...
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Real Estate Money Laundering Rises, KCB Dragged to Court for AML Breach
Real Estate development and construction company Tirupati Development Limited has dragged KCB Ban...
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Qatar to Develop National Strategies for Combating Financial Crimes
Qatar has developed vigorous strategies to combat expected financial crimes during the FIFA World...
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Scotland Police Give Warnings Due to the Rise in Cybercrime
Highland Police is taking a major initiative to warn the businesses of a spike in cybercrime and ...
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Arizona Bank Used to Funnel 11 Million USD in a Money Laundering Scheme
According to Federal prosecutors, a money-laundering scheme has been successful in funneling $11 ...
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Hong Kong Authorities Warn Unregistered Virtual Assets Platforms May Face Large Fines and Imprisonment
On August 7th, the Hong Kong Securities and Futures Commission (SFC) warned all platforms working...
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Gamers Must Be Aware of long-Scale Click Fraud Campaign- Says Microsoft
Microsoft alerted gamers regarding wide-spreading click fraud. Cybersecurity personals said that ...
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FCA Alerts Crypto Firms to prepare for Advertising Rule Change
The UK Financial Watchdog has alerted all Crypto firms to be prepared for advertising rule change...
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UK watchdog allows credit card and loan payment holidays to customers
The Financial Conduct Authority (FCA) has instructed top banks to offer three-month payment holid...
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Philippine Gaming Watchdog to Make Every Effort to Remove From FATF’s Gray List
The Philippine Amusement and Gaming Corporation (PAGCOR) has stated that it will make every effor...
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ICAEW and B20 Task Force to Introduce Recommendations For Combating Financial Crimes
Policies for anti-money laundering and terrorist financing compliance will be introduced to comba...
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Danish Financial Regulatory Authority Orders Betfair to Address Money Laundering Violations
A subsidiary of Flutter Entertainment, Betfair International, has been sanctioned by the Danish f...
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Luxembourg Updates AML Laws for Verification of Beneficial Ownership
Luxembourg has amended its Anti-Money Laundering regulation requiring practitioners to identify b...
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Canada Financial Crimes Agency Questioned on Effectiveness of Anti-Fraud Measures
Anti-fraud experts are reporting concerns regarding the Liberals’ newly announced Canada Financia...
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Bulgarian Prosecutors Investigate Crypto Lender Nexo for Alleged Illegal Activities
Bulgarian officers have launched an investigation against Nexo as the crypto Lender was involved ...
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Foxconn Becomes the Victim of Ransomware Attack
A ransomware attack has impacted an electronic manufacturer, Foxconn, very badly. This attack was...
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Online Gaming Company Fined €386,000 for AML Failings
Online Amusement Solution Limited, a gaming company, was fined more than €386,000 by the FIAU for...
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Ireland’s Central Bank Found Gaps in Anti-Money Laundering Compliance Practices
Ireland’s Central bank has found that certain financial firms are lacking in regards to anti-mone...
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Europol Arrests 106 Suspects in Money Laundering, Online Fraud Case
The organised crime operation involved phishing scams and numerous business email compromise atta...
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FEMA Confirms Seizure of 288 Crore Funds of Chinese-owned NBFC
The FEMA has confirmed the seizure of 288 crores worth of funds of a “Chinese-owned” ...
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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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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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Crypto Exchange BKEX Freezes Withdrawals Under Money Laundering Investigation
BKEX withdrawals were suspended after funds on its platform were used to launder money, according...
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US Infrastructure Bill Eyes on Introducing Stringent Crypto Provisions
The infrastructure bill proposed in the US Congress aims at revamping how crypto exchanges perfor...
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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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FATF International Cooperation Review Group Meet in Mauritius to Discuss UAE’s Position on the Gray List
Despite ongoing financial crime, the US and several other Western countries have paid no heed to ...
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Founders of US Crypto Firm Charged with Assisting North Korean Hacking Group in Laundering Money
Two co-founders of the cryptocurrency firm Tornado Cash, Roman Semenov and Roman Storm, were char...
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Silly Season Scams to Rise as AFP Forewarns Fake Delivery Texts
The Australian Federal Police (AFP) has warned of fake delivery texts. Scammers use legitimate-lo...
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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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FCMC Fines AS PrivatBank Worth €768K for AML Non-Compliance
The FCMC fined PrivatBank for AML/CTPF compliance breaches and instructed the bank to address its...
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Cyprus Adopts Transparency in Registration of Company Owners
Cyprus has planned to introduce a register in the coming weeks to unveil the identity of thousand...
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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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US Army to Adopt Facial Recognition Technology for Securing Military Base
United States Army is looking to apply face recognition technology on their military base to imme...
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Amendments to ‘Trust Property Control Act’ May Still Require Revisions
FISA (Fiduciary Institute of Southern Africa) and other notable trust law experts have expressed ...
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Lloyds Banking Group Initiates “Pilot Scheme” to Combat Frauds
Lloyds bank initiates a “pilot scheme” with the London police to counter criminal act...
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FirstBank of Nigeria Continues Commitment to Combating Money Laundering
Chief Executive Officer of the First Bank Group of Nigeria Limited, Dr. Adesola Adeduntan, noted ...
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China’s Financial Watchdogs All Set to Regulate FinTech Sector
China’s four years regime to clear all risks from the financial system have been extended to the ...
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Silly Season Scams to Rise as AFP Forewarns Fake Delivery Texts
The Australian Federal Police (AFP) has warned of fake delivery texts. Scammers use legitimate-lo...
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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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Australian Government Announces Development of Gambling Regulations Commission
Australian spokespersons for Gambling and Harm Reduction forced the New South Wales (NSW) governm...
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Australian Senate to Examine the Scope & Impact of AML/CFT on DNFBPs
The Australian Senate’s inquiry will be examining the impact of bringing DNFBPs under the AML/CFT...
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Scammers Stealing Kids’ Identities By Offering ‘Free Child Safety Kids”
The Better Business Bureau (BBB) is warning parents to be aware of ‘free child safety kits’ as sc...
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UK’s Regulatory Agencies not Coming Slow Against Money Laundering
HM Revenue & Customs carried out an extensive investigation on the UK’s real-estate agencies ...
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Singapore Passes Stringent Regulations to Clamp Down on Money Mules
Singapore has passed stringent regulations to clamp down on money mules and those who give contro...
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UAE to Issue Federal Licenses to VASPs in Efforts to Embrace Crypto
The UAE is gearing up to issue federal licenses to virtual asset providers (VASPs) within a matte...
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EU Watchdog Takes Deep Dive Into Banks’ Use of Technology
EU’s banking watchdog has recognized the need for RegTech solutions and proper regulatory standar...
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Bank of Spain Issues New Cryptocurrency Regulations
Virtual asset service providers, banks, and other financial institutions are now required to regi...
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Swiss Regulator FINMA Issues DLT Act for Digital Securities Market
The Financial Market Supervisory Authority (FINMA) introduced regulatory amendments for digital s...
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EUR 27 Million Worth Crypto Assets Seized by the NCA in Money Laundering Crackdown
NCA seizes crypto assets worth £27m last year in a major money laundering crackdown
Although inst...
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FCA Takes NatWest to Court over Money Laundering Charges
The National Westminster Bank has been accused of neglecting the anti-money laundering regulation...
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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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Business Registry and FIAU Join Hands to Get Malta Off FATF Grey List
The Financial Intelligence Analysis Unit (FIAU) and Malta Business Registry (MBR) have signed an ...
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UAE Central Bank Fines Firm $490,000 for Violating AML/CFT laws
The UAE’s Central Bank has charged a financial firm Dh1.8 million ($490,000) over breaching the c...
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EUR 27 Million Worth Crypto Assets Seized by the NCA in Money Laundering Crackdown
NCA seizes crypto assets worth £27m last year in a major money laundering crackdown
Although inst...
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Google launches a new website to educate people about online scams
Hackers are more active during the COVID-19 outbreak than normal routine, considering which Googl...
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Irish Police warns about the latest internet fraud
The local Irish police (Gardai) is persuading people not to fall prey to the recent online bankin...
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UAE Struggles to Shade Off Grey-List Status as it Continues to Attract More Crypto Firms
The UAE is keen on regaining a good reputation by clearing its name from FATF’s grey list while t...
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