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Australian Federal Police Issues Warning on Valentine’s Day Financial Scams
Australian authorities have warned the public of new Valentine’s Day scams aimed at singles...
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Largest Banking Cooperation in Columbia Busted for Violating Anti-money Laundering Regulations
Banco de Occidente, Columbia’s largest banking cooperation Grupo Aval owned by one of the richest...
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Korea FSC Confirms Plans for Crypto-focused Bureau at KoFIU
According to the FSC, the crypto-focused bureau will improve the transparency in virtual asset tr...
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Data Security at Risk Due to the Fake Lending Apps
Gained network access, pictures, and contact information are at threat due to the fake lending ap...
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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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US Officials allege student defrauded Apple as part of SIM swap attack
Richard Yuan Li, a student at the University of California-San Diego, is charged with plotting to...
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Australia DTA Consults on Upcoming “Trusted Digital Identity Bill”
The consultation will facilitate the Trusted Digital Identity Bill, making digital identity syste...
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Australian Federal Police Issues Warning on Valentine’s Day Financial Scams
Australian authorities have warned the public of new Valentine’s Day scams aimed at singles...
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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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EU Watchdog Takes Deep Dive Into Banks’ Use of Technology
EU’s banking watchdog has recognized the need for RegTech solutions and proper regulatory standar...
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ECOWAS Partners with Interpol to Tackle Money Laundering
ECOWAS (Economic Community of West African States) partners with INTERPOL (International Criminal...
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Online Gaming Company Fined €386,000 for AML Failings
Online Amusement Solution Limited, a gaming company, was fined more than €386,000 by the FIAU for...
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UAE Arrests Gupta Brothers As Part of Efforts to Combat Money Laundering
The UAE has arrested the internationally wanted Gupta brothers who were charged for money launder...
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Melbourne Casino Crown Faces New Money Laundering Scandal
Crown’s licence for its Sydney casino has been suspended after an investigation revealed it facil...
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FATF Calls for Urgent Implementation of Crypto Information Sharing Mechanisms
FATF has published a report to call on the countries to the implementation of travel rules to und...
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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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Australia’s Money Laundering Failures Increase Risk of Russia Sanctions
Australia is facing embarrassment on the possibility of being placed on the FATF’s “grey list” fo...
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EFCC Warns Financial Crime is Thriving in Real Estate
According to the Economic and Financial Crimes Commission, EFCC, real estate companies are requir...
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FinTech Market Gaining Traction in Asia, Slowing Down in US
The Financial Technology (FinTech) market is booming in Asia, especially in China according to a ...
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Hong Kong Police Arrests 19 Criminals and Halts a US $40.5M Money-Laundering Operation
Hong Kong Police arrested 19 syndicate members pertaining to money laundering operations, involve...
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The Philippines Introduces Crypto Guidelines Against Financial Crimes
The Philippines Monetary Board (MB) has approved the guidelines regarding the virtual assets serv...
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Credit Cards are Risky for Crypto Transactions, Says Taiwan’s Financial Watchdog
Credit cards should not be used for crypto-related transactions, as stated by Taiwan’s financial ...
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FCA Probe into Barclays for Anti-Money Laundering Failings
The Financial Conduct Authority opened a probe into Barclays for suspected failings in compliance...
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Latvian State Police Bust a Major Money Laundering Ring
Latvian State Police has identified and busted a huge criminal gang involved in money laundering....
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Lebanon Central Bank Denies Money Laundering Allegations and Embezzlement Charges
The governor of the Lebanese central bank appeared in the first court hearing on the premise of s...
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UAE to be Removed from FATF Gray List in 2024
The UAE’s Minister of State for Foreign Trade and chairman of the Emirates Bullion Committee hope...
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Mass Stablecoin Adoption Could Assist Financial Crime – Says FATF
FATF suggests nations and financial service providers should identify potential risks of cryptocu...
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EU Plans for New Anti-Money Laundering Agency
European Union’s anti-money laundering agency plans are being developed in detail. A memo dated M...
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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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Home Office Reveals 20% of UK Businesses are Affected by Fraud
An extensive survey of thousands of businesses between 2018 and 2022 determined that one in five ...
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Amazon patents block chain-based product authenticator
The U.S. Patent and Trademark Office approved Amazon’s three-year-old “Distributed ledger certifi...
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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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Singapore replaces passwords and ID documents with facial recognition systems
As reported by Strait Times, Singapore plans to replace passwords and identity documents with bio...
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FIAU Imposes €60,000 Fine on Audit Firm for AML Failings
€60,000 fine imposed on an audit company, for failing to report money laundering and suspected ta...
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Anti-Money Laundering Initiative in Ireland Extended to Bitcoin
Cryptocurrency buyers and sellers in Ireland, under the new anti-money laundering regime, will no...
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Vietnam Enhances Anti-Money Laundering Laws to Prevent Financial Crimes
Vietnam regulatory departments are redefining their AML compliance measures to supervise cryptocu...
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UK Mandates Enhanced Due Diligence on High-Risk Jurisdiction
Authorities in the UK rolls our new regulatory measures to perform enhanced due diligence for hig...
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California to Legislate Stronger Children’s Online Safety Bill
Assembly Bill 2273 for children’s online safety and privacy was approved by lawmakers in Ca...
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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...
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ACRA to Impose Stricter Rules to Combat Money Laundering & Terrorist Financing
ACRA has proposed stricter rules for professionals and firms that assist businesses with corporat...
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European Banking Authority Issues Latest Regulations on Crypto Travel Rules
The European Banking Authority (EBA) announced the new consultation process to implement the cryp...
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FCA Alerts Crypto Firms to prepare for Advertising Rule Change
The UK Financial Watchdog has alerted all Crypto firms to be prepared for advertising rule change...
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FATF Publishes 35 New Indicators Against Trade-based Money Laundering
Financial Action Task Force (FATF) and Egmont group has published a new report on risk-indicators...
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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...
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FSA Imposed £247,324 Fine on Standard Bank for “Serious Regulatory Failings”
The Isle of Man Financial Services Authority (IOMFSA) has imposed EUR 247,324 fine on Standard Li...
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CFTC Fines CHS Hedging for AML and Other Violations
The Commodity Futures Trading Commission (CFTC) has fined CHS Hedging a civil monetary penalty of...
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Kuwait Bans Crypto-Related Activities to Combat Money Laundering
The government of Kuwait banned all crypto-related activities on July 18th, including mining, tra...
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FCA Fines £642K to Sunrise Brokers for AML Failings
FCA imposed a £642K fine on Sunrise broker for facilitating fraudster trading and having an inade...
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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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UAE Imposes Strict Penalties for AML and CFT Failings
The UAE is set to be removed from the FATF’s Gray List in the upcoming year as it substantially i...
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Australian Gold Company, The Perth Mint, Accepts Voluntary Undertaking to Avoid AML Fines
The Australian gold corporation, the Perth Mint, escaped penalties for inadequate compliance syst...
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Denmark’s Gambling Authority Issues Reminder for AML Duties
All licensed businesses are reminded to report suspicious transactions that may be indicative of ...
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Former NFL Player Guilty of Identity Theft, COVID-19 Relief Fraud
Ex NFL player has been found guilty to one count of unauthorized access device fraud and one coun...
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Rise in Fraud from COVID-19 Bounce Back Loan Scheme
Fraudsters are stealing the money around £400M from taxpayers in the UK through the support loans...
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FINTRAC Fines Two B.C. Real Estate Brokerage Firms for AML Violations
The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) has recently fined two...
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The Bicycle Hotel & Casino Fined $500K For Violating AML Laws
The Bicycle Hotel and Casino will be paying $500K in fine as it failed to report Currency Transac...
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EBA Report Uncovers Risks of Money Laundering & Terrorist Financing Associated With Payment Institutions
The European Banking Authority (EBA) published findings on money laundering and terrorism financi...
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Nigeria: Senate Bans Establishment and Operations of Shell Banks
The Senate is banning the establishment and operations of shell banks in Nigeria as an attempt to...
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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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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...
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EU Regulators Say Crypto Exchange Licenses Should be Revoked for Money Laundering
EU regulators have proposed that the licenses of crypto exchanges should be revoked in case of se...
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Binance Resorts to Shady Crypto Firms as Authorised Options Run Short
Binance, the global crypto exchange leader, retract to shady asset companies as authorised option...
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UK Watchdog Fines Al Rayan Bank 4M Pounds Over AML Control Failures
FCA, Britain’s financial watchdog, revealed on Wednesday, 11th Jan 2023 that it had imposed...
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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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US Attorney’s Office Charges New York’s Oldest Mafia Clans for Money Laundering Scheme
The US Attorney’s office has accused the two of New York’s oldest mafia clans for laundering mone...
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Indiana Witnesses a Spike in Identity Theft and Data Breaches
Covid19’s outburst has resulted in exponential growth in online banking, purchasing, and eC...
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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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Regulatory Authorities to File a New Bill to Secure the Citizens from Cyber Criminal Activities
Senator Estrada filed a bill to protect senior citizens unfamiliar with modern technology from cy...
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Corrupt Countries Tend to Have a Higher Number of Crypto Users, Says IMF
A recent International Monetary Fund (IMF) study shows that counties that have more corruption ha...
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Visa, Mastercard Face FTC Inquiry Over Debit Card Transactions
Visa Inc. and Mastercard Inc. are once again facing inquiries by the Federal Trade Commission ove...
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FATF applauds Korea’s AML and CFT efforts
According to the FATF, Korea features a sound legal framework to tackle money concealment and ter...
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UAE Charges Six Companies with Dh3.2 Million for AML/CTF Violations
The UAE has fined six companies Dh3.2 million for failing to comply with Anti-Money Laundering an...
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