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Hong Kong Looking to Legitimize Crypto Trading for Retail Investors
The government of Hong Kong has been looking at whether to legitimize crypto trading for retail i...
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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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Data Breach Exposes 515,000 IDs, More Cases of Synthetic ID Fraud to be Expected?
Hackers broke into the servers at the International Committee of the Red Cross and accessed perso...
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New fake ad alert system launched to fight online scams
According to ITV, the UK Scam Ad Alert tool – developed by the Advertising Standards Authority (A...
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Japanese Govt. to Enshrine FATF Crypto AML Standards into National Law
The Japanese government is getting ready to incorporate the Financial Action Task Force (FATF) cr...
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Westpac Freezes Executive’s Bonuses Amid Money Laundering Scandal
Westpac’s board will withhold bonuses of all of its senior executives as an ‘interim’ step follow...
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Indonesia Becomes Member of International Watchdog, FATF
The international money laundering watchdog, FATF, includes Indonesia as its member state, in a g...
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SA’s Healthcare Organizations Become the Latest Prey for Cybercriminals
COVID-19 pandemic has paved the way for cybercriminals to target South Africa’s healthcare organi...
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Georgia’s Voting Infrastructure Becomes the First Ransomware Target in 2020 Elections
The US voting system was under a ransomware attack earlier in October. The rumours are true and G...
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Nonprofit Guam Shrine Club Under Fire for Alleged Illegal Gambling and Money Laundering
Seven people, three GSC officers and four other individuals from Guam Shrine Club, a nonprofit or...
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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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China’s digital yuan to be tested by 19 firms including McDonald’s and Starbucks
Starbucks and McDonald’s are among 19 businesses that will test China’s new digital c...
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Iranian President Calls for National Crypto Mining Strategy
The Iranian President, Rouhani, recently informed the officials from the Central Bank of Iran (CB...
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SuperCare Health Faces Lawsuit for Having “Incompetent Security Measures” to Stop Data Breach
Plaintiff filed a lawsuit against SuperCare Health in the US Central District of California and a...
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TSB Fined $3.5M on Account of Four AML Breaches
New Zealand’s High Court has fined Trustee Savings Bank (TSB) Ltd NZD 3.5 million following the b...
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Hong Kong regulators looking into possible overcharging by brokers
HONG KONG – Hong Kong’s financial regulators announced on Monday that they would analyze th...
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Nigeria’s Senate Passes Bill to Tighten Money Laundering Rules
Nigeria’s Senate has passed a bill that is aimed at improving the country’s money laundering regu...
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Shufti’s Age Verification Solution Approved by KJM
Germany’s Commission for media, Kommission für Jugendmedienschutz (KJM), has approved Shufti’...
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Experts Warn that Scammers are Exploiting EU Users on Meta’s Threads
Meta’s Threads app has become the newest platform for cyber scammers to commit identity theft, cr...
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BSP Seeks to Tighten Rules on Reporting ML/TF Threats
The Bangko Sentral ng Pilipinas (BSP) is seeking to tighten guidelines on reporting threats relat...
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Cyberhack Discloses Data on Over 600,000 Medicare Beneficiaries
A data breach in May 2023 exposed the personal information of 612,000 Medicare beneficiaries, inc...
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California’s EDD is Falling Behind in Legitimate Unemployment Claims
According to a report by Calmatters, California’s Employment Development Department is lacking be...
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Iranian Banks in Bahrain to be Prosecuted for Breaching AML Sanctions
Bahrain’s public prosecutor declared that the 13 Iranian banks, including the Central Bank of Ira...
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FIAU Fines Maltese Investment Fund €300,000 for ‘disregard’ of AML Rules
The FIAU said that Southern Cross Sicav showed ‘disregard’ for its anti-money laundering obligati...
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Congress to Pass Urgently Needed AML & Whistleblower Protections Against Russian Oligarchs
Congress is close to passing urgently required AML and whistleblower protections targeting Russia...
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Lawrence man indicted of identity theft found guilty
BOSTON (AP) — A man charged with using another person’s Social Security number to illegally obtai...
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Global regulators propose stricter scrutiny of derivatives clearers amidst deadlock with banks
LONDON – Global regulators have suggested greater scrutiny of clearinghouses managing trill...
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Britain Court Urges Binance for Better Financial Crime Prevention
The Court of London in an order emphasised that Binance should develop policies and procedures to...
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US Government Looking to Develop Vaccine Passports as Proof of Vaccination
The US government is looking to develop a system that would manage the credentials and verify the...
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UK’s National Crime Agency Builds a Specialised Crypto Investigation Team
The United Kingdom’s National Crime Agency (NCA) is planning to establish a professional team to ...
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Finance Minister Şimşek States Turkey will Devote Itself to the Prevention of Money Laundering
Deputy Treasury and Finance Minister Mehmet Şimşek stated that Türkiye would counter terrorist fi...
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UK Launches New Crypto Asset Promotion Rules
The UK’s latest obligations on the promotions of the crypto service providers came into force thi...
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Crypto Scams Reach New Heights in 2020 With $24M Stolen So Far
Whale Alert alleges that crypto scams are skyrocketing so far in 2020.
A report revealed,scammer...
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NDAA Passed to Strengthen the Financial Crime Monitoring in the USA
The House of Representatives has passed the National Defense Authorization Act to strengthen the ...
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Congress to Pass Urgently Needed AML & Whistleblower Protections Against Russian Oligarchs
Congress is close to passing urgently required AML and whistleblower protections targeting Russia...
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Twitter Breach – Bitcoin Scams to the Next Level
A massive attack is reported on Twitter accounts of high-profile and well-recognized brands. Hack...
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Supreme People’s Court of China to Impose Severe Penalties for Financial Crimes
China’s top courts are set to impose heavier punishments to prevent financial crimes and mitigate...
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South Korean merchants open to accepting digital yuan
According to the South Korean media, the local merchants could accept the upcoming digital yuan a...
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FINMA Penalizes Swiss Bank over Money Laundering of $78 Million
The Swiss regulatory authority, FINMA, initiated a lawsuit against the senior management at Juliu...
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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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CBUAE Revokes Dollar Exchange’s Licence over Regulatory Misconduct
The UAE Central Bank has revoked the licence of a dollar exchange house after it failed to keep a...
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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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Fraudsters are all set to exploit Black Friday sales. Beware!
Criminals are aware that at this time of the year, shoppers are looking for discounted deals and ...
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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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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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Signature Bank under Criminal Investigation
US prosecutors are investigating the relation of Signature Bank with crypto clients as regulators...
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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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UK Approves New Age Verification Laws to Protect Children
The UK government approved the “Online Safety Bill,” which contains measures to protect children ...
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The Czech Republic Government Amends Beneficial Ownership Law to Meet AML Obligations
The Czech Republic government revised Beneficial Ownership Law upon the European Commission’...
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Job Seekers Face Concerns of Identity Theft Through Fake Employment Scams
Fake employment advertisements defrauded many job seekers with theft of money and personal detail...
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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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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...
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South Korea Seizes $47M Worth of Crypto from Tax Evaders
South Korean officials have seized $47 million in cryptocurrency from 12,000 individuals accused ...
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UAE Central Bank Issues New AML/CFT Guidelines for Licensed Financial Institutions
CBUAE (Central Bank of UAE) has administered new AML/CFT guidance for Licensed Financial Institut...
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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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Indonesia Becomes Member of International Watchdog, FATF
The international money laundering watchdog, FATF, includes Indonesia as its member state, in a g...
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U.S. SEC chair nominated to regulate crypto oversight
William Barr, United States Attorney General announced that President Trump is likely to task Jay...
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Star Casino Faces Class Action for Anti-Money Laundering Failures
The Star casino has been hit with a shareholder class action for its alleged non-compliance with ...
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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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US Imposes First-Ever Sanctions on Bitcoin Mixer for Money Laundering
The US Treasury recently announced that it has imposed the first-ever sanctions on a bitcoin mixe...
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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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FATF Examines Technology use in Making AML/CFT More Effective
FATF has recognized the importance of combining human input and manual review with automation for...
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US Set to Disclose New Real Estate Regulations to Combat Money Laundering
The US Treasury Department is ready to introduce rigid regulations to close security loopholes in...
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CBN Fines GTBank N128M for Failing to Meet AML and CTF Requirements
The Central Bank of Nigeria (CBN) has charged Guaranty Trust Bank (GTBank) with N128 million for ...
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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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COVID-19: Banks and mobile companies join to block texting scams
The banking and mobile phone industries are declaring advancement in the face of a rise in so-cal...
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Internet fraud complaints went up by 30% last year
As per Economic Affairs Minister Nathalie Muylle, Belgium’s Economic Inspection Unit received 29%...
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European Parliament Members Adopt New Recommendations to fight Tax Fraud and Money Laundering
The parliament members adopted a comprehensive set of regulations stemming from the previous reco...
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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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FATF Warns Many Countries Continue to Face Challenges in Meeting Virtual Asset Regulations
Approximately 75% of FATF member countries fail to adhere to or only partially comply with Recomm...
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UK Government to Crackdown Corruption Under New AML laws
Overseas firms owning land in the UK need to publicly declare the owners, under the new UK laws t...
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UAE Praises Singapore’s S$2.8b Financial Crime Bust
The director-general of UAE anti-money laundering and counter-terrorism financing commends Singap...
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