The Top 10  Most Difficult Countries for Identity Verification

The Top 10  Most Difficult Countries for Identity Verification

Download Report

    n-img-roi-cross

    Before You Go, Schedule Your Free Demo Today

    Valid Invalid number


    Note: Fields marked with an asterisk(*) are mandatory.

    n-exit-img-roi-cross

    Thank you for your demo request

    We appreciate your interest and look forward to discussing how our solution can meet your needs. Expect to hear from us shortly with scheduling details.

    Close

    us

    2a03:2880:f800:c::

    Nepal at Risk of ‘Graylisting’ for Allowing Money Laundering

    n-img-nepal

    Nepal could be added to FATF’s greylist as the global AML watchdog has found a  number of deficiencies in the countries’ Anti Money Laundering and Countering Terrorism Financing (AML/CTF) standards.

    The Asia Pacific Group on Money Laundering recently visited Nepal to do its mutual analysis, however, the only progress that has been made as of December 16th will be included in the assessment report.

    Nepal was placed on the FATF’s “greylist” from 2008 to 2014, however, changes in its AML regulations allowed the country to be removed from the list in 2014.

    The government currently needs to amend 15 laws in order to comply with AML requirements; the process started but wasn’t finished before the term of the country’s House of Representatives ended.

    The effects of a greylisting include the potential for future blacklisting, which would result in the nation losing access to the top banks of the world and the rest of its legal international trade.

    Despite returning to compliance in 2014, Nepal had just avoided being blacklisted in 2012 after last-minute diplomatic efforts.

    There were a number of deficiencies in Nepal including insufficient oversight of non-financial industries including real estate and gaming.

    The Katmandu Post was informed by the secretary for the Prime Minister’s Office that “they have identified the biggest risk in the casinos […] these sectors are poorly regulated and suspicious transactions there are hardly reported”.

    Suggested Reads: 

    FATF Publishes Two New Updates on Global ML/TF Risks

    Nepal’s Foreign Employment Sector Witnesses a Surge in Fraudulent Cases

    EU Limits Use of Cash and Cryptocurrency to Curb Financial Fraud

    Related Posts

    News

    Homeland Security expects to have biometric data on nearly 260 million people

    The US Department of Homeland Security (DHS) will soon have face, fingerprint and iris scans of a...

    Homeland Security expects to have biometric data on nearly 260 million people Explore More

    News

    Liberian Ministers Allegedly Laundering Money Using Foreign Lobbying Contracts, Investigation Reveals

    Liberia, one of the poorest countries in the world, is said to spend an enormous and highly suspi...

    Liberian Ministers Allegedly Laundering Money Using Foreign Lobbying Contracts, Investigation Reveals Explore More

    News

    Nigerian Central Bank Announces Latest Guidelines to Combat Money Laundering

    The Central Bank of Nigeria ordered all customers to link their Bank Verification Number (BVN) an...

    Nigerian Central Bank Announces Latest Guidelines to Combat Money Laundering Explore More

    News

    TSA to test self-service facial recognition technology in the pilot program

    The Transportation Security Administration (TSA) is now testing self-service facial recognition t...

    TSA to test self-service facial recognition technology in the pilot program Explore More

    News

    Manitoba Expands Criminal Property Forfeiture Branch to Counter Money Laundering

    The Manitoba government is expanding the Criminal Property Forfeiture (CPF) branch as part of its...

    Manitoba Expands Criminal Property Forfeiture Branch to Counter Money Laundering Explore More

    News

    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...

    Vietnam’s Deputy PM Approves National Action Plan for the Prevention of Financial Crime Explore More

    News

    NSW Government Introduces New Money Laundering Laws To Combat Organised Crimes

    The New South Wales government  add new laws to increase the security against the criminal gangs ...

    NSW Government Introduces New Money Laundering Laws To Combat Organised Crimes Explore More

    News

    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...

    Founders of BitMEX Penalised for Their Inefficacy in Preventing Money Laundering Explore More

    News

    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...

    Investment Bank Fined by FCA for Failing with Due Diligence Requirements Explore More

    News

    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...

    Ransomware Attack Exposes 5.8 Million Pharmaceutical Records of PharMerica Corporation Explore More

    News

    The FATF Gives The Philippines 2-3 Months to Address Remaining Deficiencies

    Chuchi G. Fonacier, Deputy Governor of the BSP, said 4 of the 8 remaining Financial Action Task F...

    The FATF Gives The Philippines 2-3 Months to Address Remaining Deficiencies Explore More

    News

    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...

    Amazon Sued Over Illegal Storage of Employee Biometric Data Explore More

    News

    Anonymous Report Reveals Indian Indiscriminate Targeting Against NGOs

    According to the shadow report, India has been indiscriminately targeting non-governmental organi...

    Anonymous Report Reveals Indian Indiscriminate Targeting Against NGOs Explore More

    News

    Kazakhstan to Regulate Local Cryptocurrency Businesses

    Kazakhstan is tightening its KYC and AML regulations for cryptocurrency exchanges to combat money...

    Kazakhstan to Regulate Local Cryptocurrency Businesses Explore More

    News

    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...

    Britain’s FCA Fines Ghanaian Bank for Insufficient AML Regulations Explore More

    News

    FCA Probe into Barclays for Anti-Money Laundering Failings

    The Financial Conduct Authority opened a probe into Barclays for suspected failings in compliance...

    FCA Probe into Barclays for Anti-Money Laundering Failings Explore More

    News

    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 ...

    Arizona Bank Used to Funnel 11 Million USD in a Money Laundering Scheme Explore More

    News

    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...

    Ukraine to Scale-up Fight Against Financial Crimes Explore More

    News

    DFSA and Financial Intelligence Collaborate to Combat Financial Crime in UAE

    Memorandum of Understanding (MoU) between the Dubai Financial Services Authority (DFSA) and the F...

    DFSA and Financial Intelligence Collaborate to Combat Financial Crime in UAE Explore More

    News

    California university pays a million-dollar crypto ransom

    As per reports, the University of California reportedly paid a huge ransom of $1.14 million in cr...

    California university pays a million-dollar crypto ransom Explore More

    News

    Brazil to Introduce Facial Recognition to Verify People Wearing Masks at Airports

    Countries across the globe are taking necessary steps to introduce facial recognition at the airp...

    Brazil to Introduce Facial Recognition to Verify People Wearing Masks at Airports Explore More

    News

    59 Arrested in Vietnam Crackdown on Illegal Crypto Gambling Group

    Law enforcement bodies arrested 59 Vietnamese in illicit gambling schemes and were suspected of $...

    59 Arrested in Vietnam Crackdown on Illegal Crypto Gambling Group Explore More

    News

    New Variations in Business Email Compromise Accounted for Losses of $43 Billion, Says FBI

    Introduction of new variations in Business Email Compromise scams netted $43 Billion in losses ca...

    New Variations in Business Email Compromise Accounted for Losses of $43 Billion, Says FBI Explore More

    News

    Artist Sues AI Generators for Alleged Industrial-Level Identity Theft

    Artist, Karla Ortiz, has sued two artificial intelligence firms for generating images that mimic ...

    Artist Sues AI Generators for Alleged Industrial-Level Identity Theft Explore More

    News

    COJ Organizes Anti-Money Laundering Unit to Meet FATF Standards

    The Companies Office of Jamaica (COJ) has established an AML and CFT unit to comply with FATF req...

    COJ Organizes Anti-Money Laundering Unit to Meet FATF Standards Explore More

    News

    Coincheck customers fall victim to a data breach

    In 2018, Coincheck, the Japanese firm, fell victim to probably the largest cryptocurrency hack in...

    Coincheck customers fall victim to a data breach Explore More

    News

    European Banking Authority Issues Latest Regulations on Crypto Travel Rules

    The European Banking Authority (EBA) announced the new consultation process to implement the cryp...

    European Banking Authority Issues Latest Regulations on Crypto Travel Rules Explore More

    News

    South Kesteven Council Strengthens AML Controls for Right to Buy Scheme

    South Kesteven council tightened the anti-money laundering controls over questions raised by buye...

    South Kesteven Council Strengthens AML Controls for Right to Buy Scheme Explore More

    News

    Abu Dhabi Regulatory Authority Fines Pyypl $486,000 for Violating Money Laundering Laws

    Abu Dhabi Global Market (ADGM) financial regulatory authority fined $486,000 to digital UAE bank ...

    Abu Dhabi Regulatory Authority Fines Pyypl $486,000 for Violating Money Laundering Laws Explore More

    News

    Ireland embraces the EU’s Anti-Money Laundering (AML) directive

    EU’s anti-money laundering directive has been actively embraced by countries all across the globe...

    Ireland embraces the EU’s Anti-Money Laundering (AML) directive Explore More

    News

    European Banking Authority Publishes Final Guidelines on Remote Customer Onboarding

    The European Banking Authority (EBA) has issued its final policies on remote customer onboarding ...

    European Banking Authority Publishes Final Guidelines on Remote Customer Onboarding Explore More

    News

    Research for Implications of CBDC on the Rise in Australia

    As of the November 2 announcement of the Reserve Bank of Australia, the country has partnered wit...

    Research for Implications of CBDC on the Rise in Australia Explore More

    News

    NYDFS States Signature Bank’s Closure Was Not Linked to Crypto

    According to the head of NYDFS, the decision to close Signature Bank last month had nothing to do...

    NYDFS States Signature Bank’s Closure Was Not Linked to Crypto Explore More

    News

    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...

    Clubs to Adopt Digital Wallets as NSW Reveals Money Laundering Via Machines Explore More

    News

    London’s Mayor Assures of the Strong Regulations Despite Brexit

    Bankers in the UK are looking towards the leniency in regulations and tax cuts due to Brexit. How...

    London’s Mayor Assures of the Strong Regulations Despite Brexit Explore More

    News

    Kuwait’s Ministry of Social Affairs to Amend the Executive Law to Fight Money Laundering and Terrorism

    Kuwait’s Ministry of Social Affairs is currently reviewing a proposal to amend the executive regu...

    Kuwait’s Ministry of Social Affairs to Amend the Executive Law to Fight Money Laundering and Terrorism Explore More

    News

    SkyCity Entertainment Earmarks $29m for Anticipated AML/CFT Regulations Fine

    Australian gaming company, SkyCity Entertainment, has provisioned $29m in anticipation of a civil...

    SkyCity Entertainment Earmarks $29m for Anticipated AML/CFT Regulations Fine Explore More

    News

    FBI Warns About the Emerging Fraud Related to COVID-19 Vaccine

    The Office of Inspector General, U.S Department of Health and Human Services, FBI, and Centers fo...

    FBI Warns About the Emerging Fraud Related to COVID-19 Vaccine Explore More

    News

    US DOJ Stresses Disclosure of Beneficial Ownership Information to Curb Illicit Finance

    The US says that it is important for countries and governments to embrace a policy of disclosing ...

    US DOJ Stresses Disclosure of Beneficial Ownership Information to Curb Illicit Finance Explore More

    News

    Southern District of New York Alleges Danske Bank against Serious AML Scandal

    SDNY sentences Danske Bank with three years of probation on the tale of whistleblowing and mislea...

    Southern District of New York Alleges Danske Bank against Serious AML Scandal Explore More

    News

    FATF Votes to Graylist Malta

    Malta’s Prime Minister announced the news at a conference on Wednesday after local media reported...

    FATF Votes to Graylist Malta Explore More

    News

    New York’s Attorney General Bent on Shutting Fraudulent Crypto Platform

    New York’s attorney general has filed a lawsuit against a cryptocurrency platform, known as Coins...

    New York’s Attorney General Bent on Shutting Fraudulent Crypto Platform Explore More

    News

    Ransomware gang strikes three companies in the US and Canada

    The well-known ransomware group REvil has initiated another series of attacks targeting three com...

    Ransomware gang strikes three companies in the US and Canada Explore More

    News

    SEC & NYDFS Oppose Binance $1 Billion Voyager Deal

    The Securities and Exchange Commission and the New York Department of Financial Services have spo...

    SEC & NYDFS Oppose Binance $1 Billion Voyager Deal Explore More

    News

    Canadian Anti-Money Laundering Agency Fines RBC $7.4M

    Canada’s anti-money laundering regulatory body imposed a C$7.4 million penalty on the Royal Bank ...

    Canadian Anti-Money Laundering Agency Fines RBC $7.4M Explore More

    News

    A Ponzi Scheme of $2.7 Million Unleashed

    According to the U.S Department of Justice, a former attorney from Allentown was sentenced to six...

    A Ponzi Scheme of $2.7 Million Unleashed Explore More

    News

    Shufti Introduces AI-Based OCR for Better Customer Verification

    Verifying customers is the goal of our clients and we believe in providing the best solutions. Th...

    Shufti Introduces AI-Based OCR for Better Customer Verification Explore More

    News

    French Magazine XXI to Reveal ICIJ’s Take on Tax Havens

    In an interview with ICIJ, XXI editor David Servenay says that the offshore world is more powerfu...

    French Magazine XXI to Reveal ICIJ’s Take on Tax Havens Explore More

    News

    PBOC Issues New Financial Rules to Curb Money Laundering Risks

    The People’s Bank of China (PBOC), The China Banking and Insurance Regulatory Commission, a...

    PBOC Issues New Financial Rules to Curb Money Laundering Risks Explore More

    News

    Dubai KYC consortium to enhance UAE bank profits

    According to Moody’s Investors Service, the recently formed Know Your Customer (KYC) consortium i...

    Dubai KYC consortium to enhance UAE bank profits Explore More

    News

    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...

    UAE Levies Charges Over DH115 Million to Combat Money Laundering Explore More

    News

    Malta-based Pilatus Bank Fined €5m Over AML & Terrorism Breaches

    Pilatus Bank failed on various accounts, including identity verification of customer businesses, ...

    Malta-based Pilatus Bank Fined €5m Over AML & Terrorism Breaches Explore More

    News

    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...

    Hackers Steal $625 Million from Ronin Network in Largest-Ever Crypto Theft Explore More

    News

    Interpol Warns of the Rise in Romance Scams as Valentine’s Day Approaches

    According to the Interpol, there is a new investment scam on the rise that is targeting the datin...

    Interpol Warns of the Rise in Romance Scams as Valentine’s Day Approaches Explore More

    News

    Iranian President Calls for National Crypto Mining Strategy

    The Iranian President, Rouhani, recently informed the officials from the Central Bank of Iran (CB...

    Iranian President Calls for National Crypto Mining Strategy Explore More

    News

    Paramount and Forever 21 Data Breach Exposes Thousands of Customer’s Personal Details

    The significant media house Paramount Global and the renowned fashion supplier, Forever 21, have ...

    Paramount and Forever 21 Data Breach Exposes Thousands of Customer’s Personal Details Explore More

    News

    EU Removes Iraq From List of High-Risk Money Laundering Countries

    Iraq has been de-listed from the EU’s list of high-risk countries for money laundering and terror...

    EU Removes Iraq From List of High-Risk Money Laundering Countries Explore More

    News

    Canada to Establish Beneficial Ownership Registry to Fight Financial Crimes

    The Candian Federal budget has brought good news for the supporters of anti-money laundering. The...

    Canada to Establish Beneficial Ownership Registry to Fight Financial Crimes Explore More

    News

    Ukraine Passes Anti-Money Laundering Law based on FATF

    The Government of Ukraine has passed the final version of a money laundering law based on the gui...

    Ukraine Passes Anti-Money Laundering Law based on FATF Explore More

    News

    Non-Compliant Banks Can End Up In FATF’s Gray list – Warns Governor of the South African Reserve Bank

    Lesetja Kganyago, Governor SARB confirms to the Parliament’s standing committee about the i...

    Non-Compliant Banks Can End Up In FATF’s Gray list – Warns Governor of the South African Reserve Bank Explore More

    News

    FINTRAC Issues Alert on Money Laundering from Illegal Wildlife Trade

    FINTRAC, in collaboration with the Project Anton team, issues an alert on money laundering procee...

    FINTRAC Issues Alert on Money Laundering from Illegal Wildlife Trade Explore More

    News

    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...

    Amazon Sued Over Illegal Storage of Employee Biometric Data Explore More

    News

    Colombia Releases New Regulations For Crypto Firms Operating in the Country

    The Colombian government passed new drafts for the local crypto organisations to continue operati...

    Colombia Releases New Regulations For Crypto Firms Operating in the Country Explore More

    News

    $9.8 Million Lost, 40 Arrested in Twitch Money Laundering Scheme

    On Tuesday, 4th January, Turkish police took 40 suspects into custody from 11 provinces for alleg...

    $9.8 Million Lost, 40 Arrested in Twitch Money Laundering Scheme Explore More

    News

    SEC Orders Finance, Lending Companies to Submit AML Plans by 21 June

    Philippine’s SEC has ordered all financing and lending companies to submit their plans for the im...

    SEC Orders Finance, Lending Companies to Submit AML Plans by 21 June Explore More

    News

    Anti-Money Laundering Rules Hit Backpacker Bank Accounts

    Working holiday visa holders have been reported to have difficulty obtaining bank accounts due to...

    Anti-Money Laundering Rules Hit Backpacker Bank Accounts Explore More

    News

    65,000 Australian Credit Cards Discovered on Dark Web

    A significant proportion of stolen credit cards contained private information such as addresses, ...

    65,000 Australian Credit Cards Discovered on Dark Web Explore More

    News

    Sam Bankman-Fried Charged with Fraud and Money Laundering, Makes Headlines Again

    A federal indictment accusing FTX Co-Founder Sam Bankman-Fried of committing widespread fraud has...

    Sam Bankman-Fried Charged with Fraud and Money Laundering, Makes Headlines Again Explore More

    News

    Europol and EU Member States Launch Operation Targeting Assets of Sanctioned Entities

    Europol and EU member states along with Eurojust and Frontex have launched Operation Oscar to ass...

    Europol and EU Member States Launch Operation Targeting Assets of Sanctioned Entities Explore More

    News

    Jamaican Senate Approves Order to Combat Money Laundering

    The Jamaican Senate recently approved the Proceeds of Crime (DNFBPs)(TCSPs) Order, 2022, which is...

    Jamaican Senate Approves Order to Combat Money Laundering Explore More

    News

    IMF Joins Hands with Philippines on Wholesale CBDC Project

    IMF has announced the collaboration with BSP (Bangko Sentral ng Pilipinas) for the development of...

    IMF Joins Hands with Philippines on Wholesale CBDC Project Explore More

    News

    ABA House of Delegates Amends the AML Model Rule to Curb Financial Crimes

    The House of Delegates amended the ABA Model Rule of Professional Conduct 1.16, which covers decl...

    ABA House of Delegates Amends the AML Model Rule to Curb Financial Crimes Explore More

    Take the next steps to better security.

    Contact us

    Get in touch with our experts. We'll help you find the perfect solution for your compliance and security needs.

    Contact us

    Request demo

    Get free access to our platform and try our products today.

    Get started