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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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Amendments in Thailand’s Money Laundering Act to Include New Offenses
A proposed amendment in Thailand’s Money Laundering Act was approved by the cabinet to include ad...
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Court Convicts Defendant of Defalcation of Public Funds in Abu Dhabi
A defendant was convicted of money laundering and tax evasion by Abu Dhabi Criminal Court and sen...
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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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AML Council to Impose Sanctions on Property Dealers for Non-compliance
The Philippines’s Anti-Money Laundering Council (AMLC) is all set to impose sanctions and fines o...
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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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Iran’s Finance Ministry Releases List of Individuals Suspected of Money Laundering
The Finance Ministry of Iran has released its first list of individuals suspected of having links...
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Britain’s FCA Fines Ghanaian Bank for Insufficient AML Regulations
The Financial Conduct Authority of the UK has imposed fines of £5.8 million on Ghana Internationa...
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Ransomware Attack Exposes 5.8 Million Pharmaceutical Records of PharMerica Corporation
A breach notification was filed with the Maine Attorney General’s Office for the first time, reve...
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Treasury to Require Car Dealers to Reveal the Identities and Sources of Income of Buyers
The Treasury of Kenya will require car dealers to provide the identities and sources of their inc...
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US Financial Committee to Investigate Crypto to Combat Terrorist Financing
The US House of Financial Service Committee (FSC) is set to conduct an in-depth investigation of...
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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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Swiss Prosecutor Identifies Trail to Credit Suisse Money Laundering Case
A Swiss Prosecutor has identified the trail leading to the Credit Suisse money laundering case wo...
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UAE Issues Deadline for Businesses to Register for AML System
The Ministry of Economy has highlighted the businesses that must register for the AML system. All...
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Austria- The Growing Hub of Cryptocurrency Approves 18 Operating License
Financial Supervisory Authority like FMA of Austria received requests from forty digital asset pr...
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Founders of BitMEX Penalised for Their Inefficacy in Preventing Money Laundering
Arthur Hayes, Benjamin, Delo, and Samuel Reed – the co-founders of BitMEX charged for viola...
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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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EU Proposes New AML Agency For Addressing Money Laundering
The EU document has been proposed to introduce tough action against money laundering in the regio...
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Ransomware Attack Exposes 5.8 Million Pharmaceutical Records of PharMerica Corporation
A breach notification was filed with the Maine Attorney General’s Office for the first time, reve...
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US Task Force Seizes Another Superyacht in the Battle Against Russian Oligarchs’ Corruption
A new US task force has partnered with the IRS and global entities to take down Russian oligarchs...
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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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‘Businesses need to brace for Iranian Cyberattacks’ – warns Homeland Security
The news of the assassination of Iranian military commander, Qaem Soleimani, is all over the medi...
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Philippines AMLC Releases New Study for Suspicious Transactions Linked to Casino Junkets
The Philippines AMLC has officially published the latest study on suspicious transactions linked ...
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FMA Sues Tiger Brokers for AML/CTF Breaches
The Financial Markets Authority (FMA) has filed court proceedings against Tiger Brokers for alleg...
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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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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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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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Central Bank of UAE Penalized Exchange House Dhs504,000 for AML/CFT Breach
UAE’s exchange house has weak measures to fight money laundering and terrorism financing and requ...
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Garmin Online Services Reportedly Hit With Ransomware Attack in demand for $10 Million
Ransomware attacks are on the rise, and Garmin is the latest big name to take a hit.
A hacker gro...
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Ontario’s Casinos Need to Strengthen Efforts to Curb Money Laundering
According to Auditor General Bonnie Lysyk, Ontario’s casinos need to strengthen efforts in order ...
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Germany and Austria to Adopt Digital KYC for Customer Onboarding
Banks and financial institutions are always searching for ways to impress the customers and the d...
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US Blocks Tornado Cash Investors for Money Laundering Risks & Links to Korean Hackers
The United States has frozen the assets of crypto investors from Tornado Cash Service, saying it ...
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United Kingdom watchdog puts pressure on Deutsche bank
According to the Financial Times, the United Kingdom financial regulator has censured the Deutsch...
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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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Updated AML Regulation for Australian Digital Currency Exchange
The attorney-General proposed changes to AML/CTF frameworks in April 2023. The Australian Governm...
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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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Exchanges in Nigeria to Take Measures Against Crypto Scams
Nigerian cryptocurrency industry is to take strong measures to guarantee a safe trading environme...
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N26 Fined $5M by German Watchdog for Delayed SAR
German regulator BaFin imposes a hefty $5 million penalty on digital banking company, N26, for un...
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EFCC Enforces Real Estate Agents to Comply with Anti-Money Laundering (AML) Regulations
The Economic and Financial Crimes Commission (EFCC) urges real estate agents to strengthen their ...
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U.S. Takes the Lead in Combating Illegal Financial Activities Through Updated AML Timelines
The Biden Administration released a new fact sheet highlighting the administration’s progre...
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The Anti-Money Laundering (AML) Whistleblower Program is Set to Fortify US Anti-Corruption Efforts in 2024
The Anti-Money Laundering (AML) Whistleblower Program is projected to be a leading U.S. anti-corr...
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US Seizes 18 Crypto ATMs Bought With Fraudulent Loans
US law enforcement has seized 18 cryptocurrency automated teller machines previously purchased vi...
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UAE Issues $1.048 Billion Worth of Fines for Money Laundering & Terrorism Financing
UAE’s Executive Office to Combat Money Laundering and Terrorist Financing has claimed to collect ...
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BANGKO SENTRAL ng Pilipinas (BSP) Cancels Licences of Two Firms
THE BANGKO SENTRAL ng Pilipinas (BSP) has cancelled two virtual asset service provider (VASP) fir...
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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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UK and UAE Take Steps in Joint Efforts to Combat Money Laundering
In the UAE-UK Partnership to Tackle Illicit Financial Flows, the two countries are in talks about...
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Ukraine to Scale-up Fight Against Financial Crimes
Ukraine’s Cabinet of Ministers has approved a plan that will strengthen the measures to prevent f...
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International CBI Sharpen Focus on Due Diligence Procedures in Light of Global Risks
Discussion by renowned experts of major due diligence agencies in the PWM virtual panel highlight...
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2021 to Set New Record for Most Data Breaches in a Year
Studies have shown a staggering 1,291 data breaches till the end of September this year, exceedin...
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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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ABLV Asset Management Fined with €57,217 for AML/CFT Violations
FCMC (Financial and Capital Market Commission) has enforced a fine of €57,217 on ABLV Asset Manag...
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US to Rigorously Implement Anti-Money Laundering in Crypto
A rule requiring cryptocurrency firms to share data about their customers will be strictly implem...
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Philippines Directs Efforts & Demonstrates Progress in Resolving AML Concerns
The Asia Pacific Group on Money Laundering (APG) has raised the Philippines’ rating from pa...
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Nevada Takes Measures to Combat Unemployment Insurance Fraud
District of Nevada’s Office of U.S Attorney has shown concerns about the rise in unemployment ins...
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EBRD and Central Bank of Jordan Raise Awareness Against Financial Crime
EBRD and the Central bank of Jordan join hands in running campaigns to raise awareness for the tr...
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US Government Announces Reward for Identifying Sanctioned Russian Assets
The US government has announced financial rewards of up to $5 million for information leading to ...
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AML Program Risks Highlighted by the Pandora Papers Scandal
Experts have advised compliance officers to divert their focus on EDD, CDD, and UBO verification ...
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Another Step Taken by the EU to Harmonize AML Rules
The European Banking Authority has proposed new guidance for compliance officers. The attempt is ...
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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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UAE Levies Charges Over DH115 Million to Combat Money Laundering
A total of Dh115 million ($31.3 million) has been fined by the UAE in its efforts to impede money...
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The Chinese central bank confirms digital Yuan mobile app trials
According to a statement, the People’s Bank of China (PBoC) conducts internal tests for the natio...
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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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Tether Executives to Face DOJ Bank Fraud Probe
Since its inception in 2014, Tether has become the third-largest cryptocurrency platform in the w...
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EU Suggests Blacklisting UAE Following “Dubai Uncovered” Leaks
The EU has suggested blacklisting UAE under the “Dubai Uncovered” leaks depicting how sanctioned ...
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Financial Watchdogs in Thailand Issue Strict KYC for New Crypto Accounts
The government in Thailand plans to eliminate anonymity in the new crypto account creation by enf...
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China plans on introducing digital yuan
China’s central bank has sent one of its strongest signals yet of a commitment to creating ...
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Giaba Trains BDC Operators for Money Laundering & Terrorist Financing
GIABA (Inter-Governmental Action Group against Money Laundering in West Africa) has started a thr...
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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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FMA Sues Tiger Brokers for AML/CTF Breaches
The Financial Markets Authority (FMA) has filed court proceedings against Tiger Brokers for alleg...
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FCA Bans Crypto-Related Investments in the UK
Financial Conduct Authority- FCA had proposed a ban on crypto-related investments in October 2020...
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FATF Issues Guidance for AML/CFT Digitization of FIUs
FATF published a report in collaboration with the Egmont group discussing why and how FIUs should...
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Homeland Security Takes Back Its Plans of Facial Recognition for US Citizens
The Department of Homeland Security (DHS) is taking back its decision to implement a policy that ...
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