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The SEC Uncovers a Pyramid Scheme and Charges Multiple Individuals
The U.S. regulatory authority SEC uncovered a crypto pyramid scheme that stole approximately US$2...
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IRS Criminal Investigation Uncovers Approx. $10 Billion Worth of FinCrime
IRS-CI FY 2021 highlighted $2.19 billion in tax fraud, $8.18 billion in financial crimes, 1497 wa...
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14 Arrested in Money-Laundering Crackdown, Over HK$300 Million Seized
Hong Kong police carried out a crackdown on money laundering groups, 14 arrested and HK$300 milli...
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Westpac to Pay Penalties Totalling $113 Million for “Poor Compliance Culture”
Australian corporate watchdog imposed $113 million fine on Westpac bank for charging dead people ...
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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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Bitcoin ATMs face stricter regulations over money laundering
According to experts, Bitcoin ATMs (BATMs) will face stern regulations globally, with countries s...
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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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Kazakhstan has Improved to Achieve the Lowest Risk Score for ML/TF
According to the annual report of Basel Index 2020, among the 141 countries, Kazakhstan is at 73r...
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Swiss Regulator FINMA Issues DLT Act for Digital Securities Market
The Financial Market Supervisory Authority (FINMA) introduced regulatory amendments for digital s...
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Federal Prosecutors to End Criminal Investigations on Gambling Site ‘5Dimes’
5Dimes is a Costa Rica-based online gambling site that took bets from the US clients illegally. P...
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Japan Considers Facial Recognition to Trace Contact at Large Scale Events
According to the Japan Times report, the country is planning to introduce facial recognition at l...
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NYDFS Reminds BitLicense Holders to Follow Rules
NYDFS (New York Department of Financial Service) has restated custody and disclosure requirements...
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UAE Central Bank Imposes Financial Sanctions on Six Banks for CDD Failures
Six banks in the UAE have been issued financial sanctions by the UAE Central Bank for not complyi...
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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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AFP Investigates Money Laundering Tactics Employed by Criminals in 2021
The Australian Federal Police is highlighting the hidden channels used by money launderers in 202...
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New Zealand’s FMA Issues New ID Verification Guideline
A new explanatory note has been issued by New Zealand identifying the sources of information that...
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Oman’s CMA Initiates Efforts to Improve Anti-Money Laundering Measures
Oman’s Capital Market Authority is sharpening its focus on improving its anti-money laundering an...
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Medical Testing Postpones Money Launderer’s Sentencing
The conviction of Mark Scott, a licensed advocate involved in laundering $400 million for the unp...
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China Strengthens Anti-Money Laundering Rules for Financial Institutions
China has taken steps to improve financial institutions’ measures to combat money laundering by p...
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Bank of Israel (BoI) Pushes Banks to Accept Crypto Profits
The Central Bank of Israel pushes local banks to un-restrict the cryptocurrency transaction gener...
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Bank of Spain Issues New Cryptocurrency Regulations
Virtual asset service providers, banks, and other financial institutions are now required to regi...
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Facebook’s New AI Can Help You Circumvent Facial Recognition
Facial recognition technology is primarily used to detect and identify people but in a turn of ev...
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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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FINMA, SFC, and MAS Fine Multiple Financial Institutions Over $1.5 Billion For Money Laundering Activities
FINMA, SFC, and MAS fined multiple financial institutions over $1.5 billion for not complying wit...
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Actor Behind $650M Ponzi Scheme Set to Face 20-Year Jail Time
The actor was arrested on account of wire fraud, identity theft, securities fraud, and executing ...
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Rapstar Captured for His Role in Wire Fraud Scheme
A famous rapper from Chicago with his crew members was caught and charged in court for using the ...
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Compliance Institute of Nigeria (CIN) to Up its Game in Addressing AML/CTF Gaps
With threats of financial fraud emerging across the globe, the Compliance Institute of Nigeria (C...
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Netflix ‘Update your payment” phishing scam is bypassing email spam filters
Phishing scams are taking a new turn as more and more people are using streaming services during ...
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Hong Kong Authorities Warn Unregistered Virtual Assets Platforms May Face Large Fines and Imprisonment
On August 7th, the Hong Kong Securities and Futures Commission (SFC) warned all platforms working...
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China Warns of Money Laundering Risks Arising from NFTs
China has warned of the financial risks associated with non-fungible tokens (NFTs) as three indus...
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UAE Receives Observer Status at APG For Money Laundering
UAE becomes the first Arab country receive an observer status at the Asia/Pacific Group of Money ...
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Victor Fredung Warns Businesses about the Rising Cybercrimes During Halloween
Halloween is one of the most awaited festivals throughout the year. While people plan different t...
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Large Korean bank to pay a huge fine for violating AML law
NEW YORK, April 20 (Reuters) – Industrial Bank of Korea 024110.KS, one of South Korea’...
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Action Fraud alerts shoppers about COVID-19 scams
Retail stores and other non-essential shops are recommencing across the United Kingdom, but many ...
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WHO launches blockchain platform to fight COVID-19
On March 28 the World Health Organization (WHO) collaborated with major blockchain and technology...
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EBRD and Central Bank of Jordan Raise Awareness Against Financial Crime
EBRD and the Central bank of Jordan join hands in running campaigns to raise awareness for the tr...
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Sri Lankan Regulatory Authorities Enforce AML/CFT Measures to Avoid FATF Grey and Black List
The Financial Action Task Force (FATF) started cracking down on Sri Lanka’s financial institutes ...
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Egypt Government to Establish Central Bank Unit for AML and CFT
On Wednesday the cabinet approved a draft law amending some regulations within the Anti-Money Lau...
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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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EU to Introduce Sixth ‘Anti-Money Laundering Authority’ for Crypto Oversight
The European Union is planning to introduce the sixth “Anti Money Laundering Authority” to look u...
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New Bitcoin scam hits Canada
According to a report, a supposed Bitcoin (BTC) scam is now targeting residents of Winnipeg, Cana...
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Instagram is Adding Age Verification to Protect Minors
Instagram is adding age verification in order to provide a safer online community to the minors. ...
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Myanmar Promises Improvements after FATF’s Blacklisting
Myanmar’s central bank has made promises of reforms and issued a warning against currency m...
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The third man involved in ID theft scheme and money laundering is sentenced to jail
Minnesota man among the three criminals involved ID theft scheme and money laundering has finally...
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Man arrested for money laundering offenses related to COVID-19
A 39-year-old Singaporean man has been apprehended for his suspected involvement in money launder...
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Amazon Warns UK Customers Over Rising Threat of Impersonation Scams
Amazon has cautioned UK customers about the rising threat of impersonation scams via phone calls,...
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Taiwanese Crypto Exchange Platform Under Investigation for Money Laundering
Taiwanese crypto exchange platform and a member of the Virtual Asset Service Provider (VASP), Bit...
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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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Germany to Form a new Anti-Money Laundering Agency
Germany is reportedly forming a new AML agency that aims to regulate sanction efforts and money l...
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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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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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MGA Issues 10 Warnings and Revokes 6 Licenses of Gaming Operators
MGA issued ten warnings and revoked six gambling licences in 2022. According to the report, the M...
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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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The US Treasury Department OFAC Enforces Whistleblower Programmes
According to the US Treasury’s Department Office of Foreign Assets Control (OFAC), companies must...
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Identity Thieves on the Hunt for Universal Credit Payments
The UK’s Department for Work and Pension (DWP) has been warning people for not repaying for the b...
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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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Louisiana Approves First Regulation Requiring Age Verification to Access Pornography Sites
Louisiana’s House of Representatives passed the bill against age verification in the porn industr...
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The Biggest Software Company in the US under Ransomware Attack on Election Night
Tyler Technologies in Plano, Texas, was under a ransomware attack last week. The company sells so...
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Cambodia and China Strengthen Ties to Combat Illegal Online Gambling and Scams
China’s Premier Li Keqiang and Cambodia’s PM Hun Sen have given a green signal to strengthen thei...
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South Korea’s Telecom Giant to Introduce Blockchain Wallets for Official Documents
SK Telecom, a South Korean telecom giant, has announced its first e-wallet for digitally storing ...
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ICAIE Issues Report on Trade-Based Money Laundering in Free Trade Zones, Ports, & Safe Havens
The ICAIE released a new report called “The Dark Side of Illicit Economies and TBML: Free T...
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The United Kingdom implements new Anti-Money Laundering regulations
The United Kingdom’s finance and economics department has announced the incorporation of new Anti...
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The UK plans to levy on banks to prevent money laundering
According to Reuters, Britain plans to announce a new levy on banks and other financial instituti...
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Libra taps another former FinCEN official as general counsel
Robert Werner, former director of FinCEN and OFAC regulatory authorities, has recently joined the...
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Surge in Identity Theft Frauds During Covid-19
According to new data from the Federal Trade Commission (FTC), identity theft has risen to the nu...
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AML and Crypto Fines Surge to £4bn in Regulatory Crackdown
The global AML fines surged 53% in 2022, while crypto fines rose over 90% as regulators cracked d...
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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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British Government Prepares Task Force to Halt Financial Crimes
After observing a 70% increase in push-payment fraud, the UK’s government has devised a tas...
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Online Gaming Used by Criminals to Groom Minors into Drug Mules
Criminal networks are now applying the use of online video game, Fortnite, to groom minors around...
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UK MPs Call for Improved Crypto Regulations to Prevent Losses
Ministers of the UK Parliament are calling for more rigid cryptocurrency regulations from the ASA...
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Personal Privacy Concerns Raised over FinCEN’s Proposed Crypto Rules
The advocacy group in their latest comment has disregarded the proposed regulatory requirements b...
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UAE Adopts Facial Recognition for ID Verification Instead of Emirates ID Card Readers
Facial recognition instead of Emirates ID card readers will now verify identity.
The Federal Auth...
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