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Tech Giant Olympus Hit by Ransomware Attack from ‘BlackMatter’, Successor of DarkSide
More than 40 ransomware attacks have been attributed to BlackMatter, a ransomware-as-a-service gr...
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Philippines Extends Registration Period for Amended AML Regulations
The Anti-Money Laundering Council in the Philippines has revisited the guidelines of the Anti-mon...
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MENAFATF Adopts Abu Dhabi Recommendations to Counter Money Laundering and Terrorism Financing
An international group based on the FATF format, MENAFATF, has adopted the Abu Dhabi recommendati...
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Phase One of the Crypto Regulatory Framework in Switzerland Begins
As of today, phase one of the regulatory framework regarding the cryptocurrency and blockchain in...
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UK Amends Corporate Act to Combat Economic Crimes
The UK government reformed the Economic Crime and Corporate Transparency Act to expand regulation...
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Personal Privacy Concerns Raised over FinCEN’s Proposed Crypto Rules
The advocacy group in their latest comment has disregarded the proposed regulatory requirements b...
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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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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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U.S. Schools and Colleges Witness a Rise in Data Breaches
Data breaches and cyberattacks continue to grow and now targeting the education sector. Amid the ...
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Failure to Join FATF Will Increase Economic Pressure
According to a top diplomat, Iran’s refusal to comply with the requirements of the Financial Acti...
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Filipino crypto scammers are impersonating government officials for profit
A Filipino finance entity warns against the supposed crypto Ponzi scheme Bitcoin Revolution, blam...
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Netflix users targetted by scammers during COVID-19 outbreak
According to a security company, Scammers are increasingly using the likeness of online streaming...
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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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Australia sues Facebook for $525 billion
A lawsuit was filed against Facebook by Australia’s privacy regulator, blaming the social media p...
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Credit Union Identity Theft Investigation Handed Over to Federal Prosecutors
NY Police have handed over the investigation of a $100,000 ID theft ring allegedly involving a fo...
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OFAC Sanctions Cryptocurrency Mixing Service for Allegedly Sourcing Money Laundering
OFAC has imposed economic sanctions on cryptocurrency mixing service Tornado Cash for allowing cu...
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HKMA Fines Cathay United Bank’s Hong Kong Branch with HK$11m
HKMA investigated CUBHK for violating the Anti-Money Laundering and Counter-Terrorist Financing O...
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SMEs Decry Registration Hurdles Owing to SCUML Certificate
SMEs have decried hurdles in opening business/corporate accounts due to the Anti Money Laundering...
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UAE Imposes Dh65 Million Worth of AML Fines on 137 Companies
After examining 840 companies, 137 companies failed to comply with anti-money laundering and comb...
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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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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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SEC Updates Regulatory Disclosures for Chinese Issuers Amid Crackdown
Chinese businesses, as per a ruling by the SEC, are directed to present additional disclosures re...
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FinCEN Hires First-Ever Chief Digital Currency Advisor to Curb Crypto Crime
To eliminate the misuse of cryptocurrencies, Michele Korver has been appointed by FinCEN as the C...
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Regulators Express Concerns on TD Bank’s AML Practices Leading to Merger Termination to Acquire First Horizon Bank
TD Bank was being examined by the Office of the Federal Reserve and the Comptroller of the Curren...
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UAE Starts to Scrutinize Businesses to Ensure KYC/AML Compliance
The UAE’s Ministry of Economy now starts the inspections of Designated Non-Financial Businesses a...
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Regulators Seize First Republic Bank and Sell a Portion of Assets to JPMorgan
Regulators seized First Republic Bank and sold a portion of its assets to JPMorgan Chase. This is...
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Kansas Reports Highest Number of Identity Theft Cases in 2020
New research conducted reveals that Kansas State has been ranked at number one for having the mos...
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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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Internet infrastructure industry plans on ensuring internet trust amidst COVID-19 outbreak
As a global crisis emerges due to the Coronavirus outbreak, and global population practices socia...
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Cambodian Minister of Justice Addresses AML Action Plan to Escape FATF’s Gray List
The Minister of Justice Koeut Rith has advised all financial institutions to continue their coope...
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RoC of the Cayman Fines Companies failing to Reveal Beneficial Owner’s Name
Cayman Island’s Registrar of Companies has begun penalizing the financial firms for not disclosin...
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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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Pandemic Fraud Crackdown: US Bank Employees Indicted Over Document Fraud
Bank employees and tax preparers fraudulently applied for $3M+ in pandemic relief loans through f...
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UAE talks about developments in combatting the financing of terrorism
The NAMLCFTC inaugurated its second discussion on March 4 2021 and approved countermeasures that ...
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Guyana Holds US-Sponsored Conference to Examine Asset Recovery and Money Laundering Issues
The Judiciary of Guyana organised a two-day conference in collaboration with the US Department of...
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Philippine Senator Files an Anti-Online Gambling Bill Aiming to Curb Financial Crimes
Philippine Senator Joel Villanueva filed a bill imposing a ban on online gambling to prevent fina...
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AMLC Continues to Address AML Deficiencies as per FATF Guidelines
The AMLC has reported continued efforts to address the deficiencies specified by the FATF to tack...
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Biden Increases 50% Budget for FinCEN to Omit Financial Crimes
President Joe Biden of the USA is pushing a plan for a 50% increase in the budget set aside for t...
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US Launches First Criminal Prosecution for Alleged Cryptocurrency Sanctions Case
Criminal charges are issued by the US Justice Department for the first time for transmitting more...
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Hacker attempts to steal crypto via fake Google Chrome extensions
A hacker is exploiting trust in renowned brands by creating fake cryptocurrency wallet extensions...
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The UK Introduces New Bill to Combat Identity Fraud and Financial Crime
The UK government has launched a bill to prevent the flow of dirty money through its economy by c...
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Money Laundering Investigation Leads to Seizure of Canberra Properties, Vehicles, and Cash
Assets worth over $10 million have been seized after an international investigation into money la...
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FATF applauds Korea’s AML and CFT efforts
According to the FATF, Korea features a sound legal framework to tackle money concealment and ter...
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Uruguay Faces 3 Obstacles in the Fight Against Money Laundering
Uruguay’s national secretariat unit, SENACLAFT, revealed three obstacles in fighting money launde...
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Cambodian Minister of Justice Addresses AML Action Plan to Escape FATF’s Gray List
The Minister of Justice Koeut Rith has advised all financial institutions to continue their coope...
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HSBC reports money laundering violations in Australia
LONDON – According to Reuters, HSBC bank (HSBA.L) has reported itself to the Australian fin...
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Namibia Enhances its National Crypto Strategy with New Legislation
Namibia raises the bar with new legislation in the National Crypto Strategy to combat crypto scam...
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United Nations Ranks Kenya at Position 24 in the Dirty Money Business
Every year, the United Nations conducts surveys on how the countries are performing. One of the U...
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GIABA to Release Liberia’s AML and CFT Compliance Evaluation Report
The GIABA has finally released its findings about Liberia’s gains and challenges in the fight aga...
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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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UAE to Demonstrate Effective Financial Crime Prevention to be Removed From FATF Gray List
The economic secretary of the UK recently stated (April 25th, 2023) that the United Arab Emirates...
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Colombian Financial Crime Unit Detects $20 Billion Potentially Linked to Money Laundering
Colombia’s Financial Crimes Unit has detected $20 billion in financial operations that are potent...
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Estonia’s New AML/CFT Regulatory Regime Sparks 80% Downfall in Licensed Crypto Firms
Since May 2023, Estonia’s updated crypto AML/CFT regulations have resulted in an 80% reduction in...
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Blockchain officially becomes part of China’s tech strategy
According to the National Development and Reform Commission (NDRC), China will use Blockchain to ...
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Vietnam Enhances Anti-Money Laundering Laws to Prevent Financial Crimes
Vietnam regulatory departments are redefining their AML compliance measures to supervise cryptocu...
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China Announces New Office To Combat Money Laundering
An office devoted to combating money laundering and ensuring financial institutes comply with Ant...
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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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South Africa Introduces Biometric Child Registration To Stop ID Theft
The Department of Home Affairs (DHA) in South Africa recently introduced a new method of biometri...
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IPEC to Collaborate With FIU to Improve AML Framework
IPEC to collaborate with FIU to identify terrorist financing and money laundering risks that are ...
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MGA Issues 10 Warnings and Revokes 6 Licenses of Gaming Operators
MGA issued ten warnings and revoked six gambling licences in 2022. According to the report, the M...
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HKMA Issues Mandate to Encourage Innovation in AML/CFT
Hong Kong’s Monetary Authority is set to launch interactive lab sessions to experiment with innov...
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Atomic Wallet Hack Results in $35 Million Loss as Investigation Continues
Atomic Wallet users have reported losing millions of dollars worth of cryptocurrency. It was anno...
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AFP to Crack Down on Italian Money Laundering Syndicates Operating in Australia
The AFP is set to crack down on Italian organised crime and money laundering syndicates flowing b...
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Increasing Incidents of Fraud Becoming a Threat to UK’s National Security: UK Finance
Automated systems prevented approximately 736 million pounds ($1 billion) from being stolen throu...
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Nigerian House of Representatives Pledges Strict Regulations Against Money Laundering and Terrorism Financing
The Nigerian House of Representatives Committee on Financial Crimes stated they would design stri...
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Buy Now Pay Later Service Openpay Warned for AML Violations
Te Tari Taiwhenua, the Department of Internal Affairs, has issued a warning to an Australian Buy ...
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ECB Releases Paper Revealing Financial Crime Risks in Cross-border Payments
ECB has released a paper that reveals the financial risks associated with cross-border payments, ...
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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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Australian Federal Police to Establish a Cryptocurrency Unit to Combat Money Laundering
AFP rolled out a dedicated crypto unit to combat monetary scams by fraudsters. According to AFP, ...
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Switzerland Introduces New Regulations To Clamp Down on Money Laundering
Switzerland proposed new Anti-Money Laundering (AML) regulations to crack down on money launderin...
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US Senators Urge CISA to Incorporate Rules for Ransomware Reporting
US senators have urged the CISA to enforce new ransomware reporting rules amid a sharp increase i...
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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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