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UAE Freezes Assets of Irish Crime Syndicate for Laundering Money Through Dubai
The UAE has frozen the assets of Ireland’s Kinahan Crime Syndicate, mounting the pressure on an o...
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Shufti picks up two business awards
October has been an amazing month for Shufti. In September it was nominated for outstanding p...
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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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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...
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New York man charged with trafficking credit card details
According to a federal indictment, Vitalii Antonenko, 28, was alleged in the U.S District Court f...
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SRA Fines Scarborough Law Firm for Long-term AML Compliance Failures
The Solicitors Regulation Authority (SRA) has fined Scarborough law firm Pinkney Grunwells Lawyer...
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American Gaming Association Updates Best Practices for AML
The American Gaming Association (AGA) has released updated “Best Practices for Anti-Money Launder...
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Colombian Money Laundering Watchdog Delays Crypto Transaction Reporting Regime
The UIAF has postponed the date for crypto exchanges and individuals to start reporting their tra...
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HSBC Fined £64m for “Unacceptable AML Failings”
HSBC was fined by the UK’s financial regulator for ‘deficient transaction monitoring controls’. W...
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AFM Fines Robeco €2 Million for AML Compliance Failure
The Netherlands’ financial regulator AFM has fined Robeco €2 million for failing to implement ade...
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Roll-out of vital banking fraud check postponed again due to Coronavirus
A crucial banking security check that could avert the loss of millions of pounds to internet frau...
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5 Billion Unique Credentials Circulating on Darknet
According to the report released by security firm Digital Shadows, a total of 15 billion user cre...
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FATF Issues Guidance Paper For Incorporating Digital ID
The Financial Action Task Force (FATF) has issued a guidance paper, last week, that outlines a ri...
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DISA is Working on a Digital Identity, Credential, and Access Management Tool
According to Nextgov reports, the Defense Information System Agency (DISA) in the US has announce...
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Nigeria Employs New BOR Initiative to be Removed from FATF’s Gray List
A Beneficial Ownership Register (BOR) has been inaugurated by the Corporate Affairs Commission (C...
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Cybercriminals Targeting Bitcoin ATMs to Launder Money – Says FBI
The Federal Investigation Bureau (FBI) revealed gaps in financial regulations as money laundering...
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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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FBI and the U.S. Marshals Service Warn of Prevailing Telephone Scams
FBI and the U.S. Marshals Service have warned of prevailing telephone fraud in which callers act ...
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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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HSBC Bank SMS Phishing Scam Targets UK Victims
A new phishing scam, designed to lure victims into handing over their HSBC bank account details, ...
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UK to Apply Digital Identity Verification Across Government Services
Michael Gove, Cabinet Office Minister has written to Whitehall departments about obligating the u...
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Banks warned against profiteering from UK coronavirus crisis
British institutions, including banks, have been urged to avoid profiteering from the Coronavirus...
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FATF puts South Africa and Nigeria on Anti Money Laundering Gray list
The global financial watchdog puts Africa’s two biggest economies on Anti-money laundering grey l...
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Czech Republic Ramps Up Efforts to Combat Financial Crimes
According to a Moneyval report, the Czech Republic is showing progress in improving its complianc...
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Philippines AML Council Adds POGO to its Non-Compliance List
In its efforts to fight money laundering and terrorist financing, AMLC has added third POGO to th...
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FATF Urges Japan to Implement Stronger AML Measures
The FATF mutual evaluation report on Japan proposes the formation of a joint-agency body to enhan...
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Singapore to Strengthen Security Measures Against Phishing Scams
Singapore is taking steps to introduce additional security measures to detect suspicious transact...
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Tech Analysts Say Elgin Data Breach May Prove “Devastating” for Those Vulnerable to Identity Fraud
Technology experts raise questions about the lack of transparency of the municipality in dealing ...
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AUD 10 Billion Money Laundering Ring Caught in Australia, Further Highlighting the Country’s AML Failures
AUD 10 billion ($6.5 billion) in global money laundering was allegedly uncovered in Sydney by the...
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China’s Top Leaders Indicate the Further Tightening of Financial Regulations
Chinese leaders have indicated that the country will move to further strengthening of financial r...
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Increasing Financial Crimes Call to Establish a European Center of Excellence For AML Compliance
EU financial and anti-financial crime regulations are more complicated than before and they reinf...
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SataBank is Set to be Formally Liquidated Over Money Laundering Concerns
The liquidation of Satabank has affected prominent names with a massive due amount. The infirm se...
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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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Despite the Concerns, Arizona Bans Vaccine Passports for Government
Governor of Arizona, Doug Ducey has restricted the local and state government agencies from askin...
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Crypto Providers at Risk of Money Laundering & Terror Financing, Says FMA
The Crypto industry was rated high-risk in the latest sector risk assessment (SRA) of the FMA, wh...
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Financial Watchdogs in South Korea Add Guidelines for Crypto Transactions
Financial Watchdogs in South Korea will now oversee the activities regarding crypto in the countr...
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SRA Receives Fewer AML Violation Reports from England & Wales Despite Sanctions Drive
Anti Money Laundering (AML) violations in England & Wales reported to the Solicitors Regulati...
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CSSF Imposed a €226,000 Fine on Maitland Over AML Compliance Failure
Maitland Luxembourg SA received a penalty of €226,000 over anti-money laundering and customer due...
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Australian Bank, Westpac, Accused of 23 Million Money Laundering Breaches
Australia’s financial intelligence agency, The Australian Transaction Reports and Analysis Centre...
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£23.8 Million Fined to MT Global for AML Non-Compliance
A Money Service Business (MSB) firm, MT Global, penalized by HM Revenue and Customs for breaching...
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UAE Extends the Deadline for DNFBPs to Register for AML Regulations
The Ministry of Economy (MoE) in Abu Dhabi has announced the deadline extension for the registrat...
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AUSTRAC Made to Take Back Seat as Australia Defies Global AML Regulations
Australian Transaction Reports and Analysis Centre has taken Australia’s largest business to cons...
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FinCEN and OCC Fine Texas Bank $9 Million for BSA-AML Violations
A Texas community bank was fined by the Financial Crimes Enforcement Network (FinCEN) and the Off...
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US Justice Department Helps Brazilian Government to Seize $24 Million in Crypto Fraud
An official request from the Brazilian government was made to the US government for helping to se...
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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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Canada’s Anti-Money Laundering Crackdown Gets Support From Coalition
The Canadian government has swiftly responded to a call for action from an alliance of organizati...
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Online fraud attempts increase during COVID-19 catastrophe
According to ACI Worldwide, the rate of fraud attempts have increased to 4.3% in April, slightly ...
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Hong Kong Arrests 13 in HK$53 million Money Laundering Case
13 people in Hong Kong have been arrested for money laundering and operating illegal gambling sit...
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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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The US Securities and Exchange Commission Identifies AML Failures of US Brokerage Firms
The Securities and Exchange Commission (SEC) has reported that compliance reviews of US brokerage...
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11 Jailed in Saudi Arabia for Laundering $2.7 Billion
Saudi Arabia has jailed and fined 11 individuals SR62.5 million for money laundering. The group l...
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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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AML/KYC Non-compliance Penalties Drop by 40% in the Second Half of 2021
KYC/AML non-compliance penalties have dropped by 40% in the second half of 2021. However, this do...
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SEC Partners with Government Agencies and Philippines Police to Combat Money Laundering
The SEC signed a data-sharing agreement with the Philippines police and other government agencies...
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SEC Warns Wall Street to Enhance AML Systems
US regulatory authority, the Security and Exchange Commission (SEC), warns Wall Street brokers of...
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Saudi Central Bank Instruct Banks to Combat Financial Crimes
According to the Central Bank of Saudi Arab, the fraudulent operations are linked with the money ...
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$2 Shell company laundered hundreds of millions at Crown Casino Perth
International organizations are believed to be using Crown Perth to launder hundreds through $2 s...
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Japan FSA, Central Bank to Assess FI’s AML, Anti-fraud Measures
Reports have revealed that Japan’s FSA and BOJ are seeking to better understand whether the curre...
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Cyprus Aligns with EU Regulations by Adopting Strong AML/CFT Measures
Cyprus has established a new digital registry and requires the businesses to identify their true ...
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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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UAE and UK Initiate Large-Scale Crackdowns Against Money Laundering
The UAE has set up an AML task force that is currently pursuing hundreds of cases, and Cambridges...
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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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Vietnam’s New Legislation on E-Transactions Will Take Effect on July 2024
The National Assembly of Vietnam passed the new e-Transaction law replacing the previous one, No....
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Ransomeware gang demands $42M or it releases Trumps ‘Dirty Laundry’
A ransomware gang stole about 1TB of legal secrets from the most important names in the entertain...
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Lithuanian Government Approves Amendment to Strengthen Digital Currency Regulations
Lithuania is on the verge of becoming the first country in Europe to pass strict laws on digital ...
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“Online Trading Platforms to Become a New Hub for Investment Scams” Warns FCA
FCA warns that investment scams are increasing in the UK via online means of trading platforms an...
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Joint ATO Operation Busts $137m Fraud Ring
The Australian Border Force (ABF) and the Serious Financial Crime Taskforce (SFCT) have jointly i...
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Macau to Introduce Digital Currency to Combat AML Threats in Casinos
Macau is moving towards introducing digital currency to fight money laundering and tax evasion in...
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SEC Enforces Srilankan Compliance Officers To Conduct Adequate AML Measures
The Security Exchange Commission of Sri Lanka (SECS) and Colombo Stock Exchange (CSE) recently ar...
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More than HK$8 Billion has been Laundered through Hong Kong Banks in 2020
Victims of online, phone and investment scams have been conned out of more than HK$8 billion (1.0...
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Natwest Caps Transfer Limit to Binance Over Fraud Concerns
Natwest bank is scrutinizing cryptocurrency transactions, including Binance transactions, due to ...
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Increasing Money Laundering Fines for Banks After Lockdown
Despite the delays in enforcement activities due to lockdown, the globally issued money launderin...
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