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FATF Updates on South Africa’s AML Compliance Progress
A report on South Africa’s progress in implementing AML procedures to prevent money launder...
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Florida House Speaker Votes to Restrict Minors’ Access to Social Media Platforms Via Age Verification Checks
Florida House votes to mandate social media platforms to implement rigid age verification checks,...
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2020 Election is coming up! Facebook bans deepfakes
2020 is up and the United States’ presidential election campaign is underway. Prior to these elec...
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China Pledges “Zero Tolerance” for Financial Fraud
Top financial regulators in China pledged to introduce stricter controls following the recent dis...
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Nigerian Parliament Strengthens AML/CTF Laws for Real Estate Industry
Nigerian real estate regulatory authority to mandate businesses to comply with AML/CTF compliance...
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Cybercrime to Surge in Cryptocurrency Even in Post COVID-19 Economy
According to a report by Kaspersky Lab about cybersecurity and antivirus, in the post-COVID-19 wo...
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CBUAE Cancels Registration of Insurance Broker for AML Non-compliance
The Central Bank of the UAE (CBUAE) has cancelled Al Fazaa’s registration as an insurance a...
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UAE Firms Must Disclose UBO’s to Avoid Dirty Money Watch List
500,000+ firms in the UAE (United Arab Emirates) face disclosure of their Ultimate Beneficial Own...
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New Zealand to Introduce Digital IDs to Foster Trust in Online Transactions
New Zealand is working towards a national law that would bring consistency to the country’s effor...
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Sebi Releases New Anti-Money Laundering Guidelines
The capital markets regulatory authority, the Securities Exchange Board of India (Sebi), publishe...
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Westpac CEO Brian Hertzer Resigns Amid Money-Laundering Scandal
The chief executive of Westpac Banking Corporation, Brian Hartzer, has resigned and the chairman ...
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Hacker steals $250K by exploiting Bitcoin exchange Bisq
A hacker identified a significant software flaw on the decentralized Bitcoin exchange, Bisq, to s...
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EU Money Laundering Overhaul Should Include NFT Platforms, Lawmakers Say
The two crypto legislation adopted last week did not include unhosted wallets and decentralised f...
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Coincheck customers fall victim to a data breach
In 2018, Coincheck, the Japanese firm, fell victim to probably the largest cryptocurrency hack in...
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RBI Allows Multinational Banks to Retain Limited Data Abroad for AML Screening
KYC data can be retained in offshore bank branches for the purpose of sanctions and AML screening...
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Morocco’s Parliament Unanimously Approves the Bill to Amend AML Regulations
The House of Representatives of Morocco has unanimously agreed to pass the bill to amend the anti...
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Abu Dhabi to Establish Executive Office to Combat Illicit Financial Flow
A specialised court in Abu Dhabi will be developed to oversee the measures to fight financial cri...
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China’s cyberspace regulators approve 224 blockchain ventures
China’s Office of the Central Cyberspace Affairs Commission (OCCAC) has recently announced a new ...
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EU’s decision to ban Facial Recognition for five years divides the tech giants
Facial recognition is emerging as a conflicting technology causing key disagreement among the wor...
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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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“Student” Occupation Flagged for Money Laundering in Canadian Real Estate
Son of “wanted for defrauding 60,000 investors” Chinese parents laundered millions of dollars int...
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A Brussel Led Crackdown to be Held in Britain if EU Demands are not Met
MEPs have ordered Brussels to black-list the city of London if it does not comply with the EU’s D...
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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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Fintech funding dwindles amidst Coronavirus pandemic
Fintech funding reduced at the beginning of 2020 because the COVID-19 outbreak began to hit late ...
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New York Federal Reserve Sued by Puerto Rican Bank For Blocking Service in Venezuela
A Puerto Rican bank has sued the New York Federal Reserve on 25th July for suspending their acces...
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New White House Standards Strategy May Affect Crypto Industry KYC Regulations
President Biden’s administration unveiled a national standards strategy on May 4, outlining eight...
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Delta county bank president guilty of bank fraud
SHERMAN Texas – According to U.S. Attorney Stephen J. Cox, A 57-year-old former bank presid...
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FATF Upgrades Guidelines on Risk-Based Approach for VA/VASPs
FATF (Financial Action Task Force) is upgrading the regulations regarding the risk-based approach...
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IMF Warns Nigeria on Risks Arising from Central Digital Currency eNaira
The IMF has warned the Central Bank of Nigeria (CBN) about the risks of money laundering and terr...
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Anonymous Report Reveals Indian Indiscriminate Targeting Against NGOs
According to the shadow report, India has been indiscriminately targeting non-governmental organi...
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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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Hackers Steal $625 Million from Ronin Network in Largest-Ever Crypto Theft
Hackers stole approximately $625 million in crypto from the Ronin blockchain and the video game n...
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El Salvador Must Address Bitcoin’s Risks, Demands IMF
The IMF has urged El Salvador to address the risk associated with the adoption of bitcoin as a le...
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Central Bank of Bangladesh Concerns Over Data Submission Delays and Abnormalities
The Central Bank of Bangladesh has raised concerns over licensed bank dealers for late submission...
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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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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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Joint US-Spanish Operation Broke a Multi-Million Euro Credit Card Scam
The US Secret Service and Spanish police were working together on an operation when they shut dow...
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Signature Bank under Criminal Investigation
US prosecutors are investigating the relation of Signature Bank with crypto clients as regulators...
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Crypto exchange owner admits laundering $1.8M in online auctions fraud
Vlad-Calin Nistor and 14 other accused, including the owner of a car wash, have all entered guilt...
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Facial Recognition Market to Grow 12.5% Annually Through 2024
According to a new report by Mordor Intelligence, the facial recognition market is expected to gr...
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AML investigation results in NZ police freezing $140 million
Police have collected $140 million from the Canton Business Corporation and its owner Alexander V...
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European Commission Removes Morocco From High-Risk Money Laundering Watchlist
On Wednesday, the European Commission disclosed that Morocco was no longer listed on its high-ris...
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CSIR Reports Surge in Cybercrimes Pertaining to Work-from-home Culture
The Council for Scientific and Industrial Research (CSIR) has reported that cyberattacks have inc...
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Bahrain sentences three money-laundering suspects to prison
Bahrain fined three suspects of $9 million and sentenced them to prison in the Future Bank case. ...
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Financial Intelligence Center Says SA Car Dealers Are at High Risk of Money Laundering
The Financial Intelligence Centre (FIC) has said that SA’s motor vehicle dealers are at a high ri...
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AUSTRAC to Audit Three Bell Financial Group Entities to Evaluate AML/CFT Compliance
AUSTRAC has called for the audit of three entities under the Bell Financial Group, including Bell...
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Biden’s Administration Announces New Timeline for AML Initiative and Beneficial Ownership Rules
FACT’s anti-money laundering efforts are updated in the Biden Administration’s Spring 2023 Regula...
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Crown Casinos Fined $450 Million for AML Failures
Casino operator Crown should pay a fine of $450 million for 546 violations of anti-money launderi...
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Amazon Sued Over Illegal Storage of Employee Biometric Data
Lawyers from the firm of McGuire Law P.C. of Chicago filed a class action complaint on November 1...
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Research and Data are Key to Developing Fair Crypto Regulations, Say Blockchain Experts
As global regulators are looking to have control over crypto, blockchain analysts say that lawmak...
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National Assembly Passes Revised AML Law and Thrift Practice Resolution
The National Assembly (NA) has passed the revised law on Money Laundering Prevention and Control ...
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Swedish Bank SEB Accused of Money Laundering
Investigations done by the news agency TT and broadcaster SVT revealed that 25 SEB clients record...
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German Customs to Strengthen Fight Against Organised Crime and Money Laundering
Christian Lindner, German Finance Minister, announced at the weekly cabinet meeting held at the C...
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China’s Central Bank Fines ICBC & Bank of Chongqing for AML Shortcomings
Chinese banks including industrial and commercial banks of Chongqing have been fined by regulator...
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FATF: US largely complacent with virtual currency regulations
The Financial Action Task Force (FATF) has rated the U.S. “largely compliant” with its revised cr...
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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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Clubs to Adopt Digital Wallets as NSW Reveals Money Laundering Via Machines
The clubs in Australia are to adopt the digital wallet for poker machines as the regulators disco...
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China’s Central Bank Fines ICBC & Bank of Chongqing for AML Shortcomings
Chinese banks including industrial and commercial banks of Chongqing have been fined by regulator...
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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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US Ambassador Highlights how Liberia can Improve its AML/CFT Laws
Monrovian embassy of the United States’s ambassador, Micheal A. McCarthy, supports the National R...
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Governor Bank of France to Propose Licencing for Crypto Firms
François Villeroy de Galhau, the Governor Bank of France, has passed more stringent regulatory pr...
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A Treasury Unit to Enforce New Anti-Money Laundering Laws in the US
A small bureau of the U.S Treasury Department will take a lead, over the next year, in filling ou...
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Prosecutors Raise Questions About KYC/AML Against Cryptocurrency Mixers
According to the prosecutors and financial regulators, cryptocurrency mixers are reportedly being...
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Japan Launches a Three-Step Plan for Introducing Digital Yen
After the announcement of the Bank of Japan to introduce digital Yen by 2021, the statement by Ko...
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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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Japan’s Airports Run Face Verification Trials for Passenger Onboarding
Tokyo’s Narita airport is running trials for a face recognition system for international travelle...
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European parliament imposes ban on facial recognition technology
Following a public outcry after the leak of an internal memorandum discussing the utilization of ...
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Central Bank of Nigeria Lifts Limit on $10k Deposits for Domestic Account Holders
Domestic account holders of Nigeria will be able to access the funds in their accounts without hi...
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WhatsApp Introduces Fingerprint Authentication For Android
WhatsApp has recently announced that its app can be locked with a fingerprint, now available on A...
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Governor Bank of France to Propose Licencing for Crypto Firms
François Villeroy de Galhau, the Governor Bank of France, has passed more stringent regulatory pr...
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Ghost Coin deployed as payment for vending machines in Hong Kong
Ghost Coin, the privacy coin headed by John McAfee, can now be installed in vending machines in H...
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FinCEN Calls in Bankers to Assess AML/CFT Risks in DeFi
The Financial Crimes Enforcement Network (FinCEN) is focusing on DeFi oversight as government bod...
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