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Banks in the UK Face Customer Frustration for Digital Identity Checks
The global analytics software service provider FICO has reported that the banks in the United Kin...
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FBI Seizes $1.7M During 3-Month Crypto Operation
During a 3-month operation from March to May, the FBI seized $1.7m worth of cryptocurrencies, inc...
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China Makes Facial Recognition Mandatory For Smartphone Users
China is making it mandatory for all smartphone users who register new SIM cards to submit to fac...
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SEC Unfolds Strict Regulations to Prevent Financial Crimes in Stock Market
SEC (Securities Exchange Commission) is to implement tough regulations to prevent money launderin...
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India to Introduce Physical Cryptocurrency Bank Branches
India has been rapidly adopting the changes in the digital world and introducing physical banks f...
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FATF to Blacklist Myanmar Over Money Laundering Concerns
Myanmar faces a blacklisting threat by a FATF because of AML compliance failure and weak regulati...
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Google Pay Transactions Just Got More Secure
Previously, when you used Google Pay for transactions, it would only ask you to enter your PIN. A...
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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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AUSTRAC Has Published a New Guidance For Detecting “Cuckoo Smurfing”
AUSTRAC’s guidance offers indicators for financial institutions, to allow them to detect suspicio...
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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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Singapore, Cyprus, and the US Expedite Efforts to Combat Financial Crimes Effectively
Singapore, Cyprus, and the US are stepping up their efforts to curb financial crimes while aiming...
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KYC Alliance between Dubai Economy and six banks
As reported by Gulf News, Dubai Economy along with Emirates NBD, Emirates Islamic, HSBC, RAKBANK,...
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$8 Million Worth of Crypto Stolen From BitKeep Wallets
Cryptocurrencies worth $8 Million, including Binance Coin, Tether, Dai, and Ether, were stolen fr...
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US Regulates Art Market as it is at High Risk of Money Laundering
Law enforcement agencies across the globe have turned their attention to the use of high-value ar...
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US Crypto Industry Faces Pushback on Implementation of Crypto-Friendly Legislation
The US crypto firms visited Capitol Hill to push their industry-friendly regulations however, thi...
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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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FATF Urges Member Countries To Lead by Example in Implementing Travel Rule
The global financial watchdog FATF has urged countries to implement the travel rule in the legisl...
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UAE Firms Must Disclose UBO’s to Avoid Dirty Money Watch List
500,000+ firms in the UAE (United Arab Emirates) face disclosure of their Ultimate Beneficial Own...
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DC lawyers can now accept crypto for legal fees
According to a report by Bloomberg Law, cryptocurrency can now be used to pay for legal services ...
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European Central Bank’s President Calls for Strict Bitcoin Regulations
The president of the European Central Bank, Christine Lagarde, says that bitcoin is a “funny busi...
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Criminal Group in KSA Jailed 24 Years Over Money Laundering Offence
Criminals in Saudi Arabia sentenced to 25 years imprisonment after getting caught in money launde...
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Facebook affirms Libra commitment with new job openings
According to the Irish Times. Facebook is planning to hire 50 people for its payment app Calibra ...
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Interpol Seizes $130M Worth of Virtual Assets from Cybercriminals Worldwide
The International Criminal Police Organization Interpol has seized $130 million worth of virtual ...
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Irish Businessmen lost More than €10 Million in Invoice Redirect Fraud
Sophisticated invoice redirect fraud in Ireland has resulted in the loss of €10 Million for busin...
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Nigerian House of Representatives Pledges Strict Regulations Against Money Laundering and Terrorism Financing
The Nigerian House of Representatives Committee on Financial Crimes stated they would design stri...
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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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FIU Imposes a Fine of L$21 Million on Insurance Companies for AML Failings
The Liberian financial intelligence unit (FIU) has imposed a L$21 million fine against all the in...
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Taiwan FSC to Ease Authentication Rules through Biometric Verification
According to new rules, banks will be using biometric authentication methods to fulfil ID authent...
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OCBC Fines Money Laundering Suspect $19.7million
The Oversea-Chinese Banking Corporation (OCBC) has fined the individuals involved in Singapore’s ...
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Latvia’s Bank Rietumu Fined EUR 5.85M Over Money Laundering Failures
The Financial and Capital Market Commission has fined Bank Rietumu EUR 5.85 million over failures...
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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...
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Ramon Abbas, Nigerian Instagram Influencer Pleads Guilty to Million-dollar Fraud
Nigerian instagram influencer, Ramon Abbas (Hushpuppi), admitted that he was involved in a conspi...
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Biden Increases 50% Budget for FinCEN to Omit Financial Crimes
President Joe Biden of the USA is pushing a plan for a 50% increase in the budget set aside for t...
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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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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 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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Zipmex Crypto Trading Platform Suspends All Activities in Thailand
Zipmex cryptocurrency exchange firm withdrew all activities in Thailand until 31st January 2024 t...
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International Student Sues Commonwealth Bank for Money Laundering Scam
An Indonesian student and her family sued the Commonwealth Bank as they lost millions of dollars ...
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AUSTRAC Hits Military Bank with Enforcement Action to Ensure AML Compliance
The financial regulator in Australia has hit the Australian Military Bank with implementation act...
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Nearly $30 Billion Laundered Through Canada’s Real Estate – Says TIC
A joint study by Transparency International Canada and the End Snow Washing Coalition highlighted...
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Uganda Remains on FATF Graylist for Failing to Curb Money Laundering
Uganda is still under the scrutiny of AML/CFT agencies after failing to enforce regulations in NG...
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Leading MSB Industry Associations Introduce Best Practices For Anti-Money Laundering
The introduction of the best practices for anti-money laundering by leading MSB industry associat...
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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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Australian Regulators Seeking to Implement Travel Rules for Cryptocurrency
Australia is looking at the laws that would require cryptocurrency providers to record the inform...
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Thousands of NSW driver’s licenses exposed online in a data breach
Last week, tens of thousands of NSW driver’s licenses were left exposed online. The breach was ac...
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FCA Raises Major Concerns about Investing in Non-Fungible Tokens (NFTs)
The FCA highlighted the significant risk associated with the Non-Fungible Tokens (NFTS) which may...
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Europol Warns Trade-Based Money Laundering Poses Substantial Threat to Financial Institutions
Financial institutions faced trade-based money laundering as a new threat since the digitalisatio...
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Global Drug, Money Laundering Hub Busted in Las Vegas
Federal law enforcement officials in Las Vegas have dismantled an international money laundering ...
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Govt assists Struggling Swiss Crypto Valley
Switzerland’s “Crypto Valley” is in talks with the federal government for fixing a 100 million Sw...
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Criminal Group in KSA Jailed 24 Years Over Money Laundering Offence
Criminals in Saudi Arabia sentenced to 25 years imprisonment after getting caught in money launde...
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Central Bank of Nigeria (CBN) Raises Concerns Over KYC and AML Protocols
The Central Bank of Nigeria (CBN) has intensified pressure on financial institutions (FIs) to imp...
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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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HKMA Issues Guide for Regtech Adoption in Customer Monitoring
The second guide published by the HKMA will allow banks to test their internal measures and infra...
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UK Customers Losse £580m to Identity Scammers in First Half of 2023
UK Finance disclosed that identity theft is a proliferating scam, and they recorded 1.4m fraud ca...
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Regulators in Hong Kong Urge Banks to Accept Cryptocurrencies
Hong Kong banks are worried about regulatory repercussions for their crypto clients if money laun...
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Russians Turn To Crypto As the West Imposes Financial Sanctions
Data has shown that Russians are turning towards transactions in cryptocurrency as a result of we...
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National Audit Office Plans to Review FCA’s Responsibilities
The National Audit Office (NAO) plans to assess the Financial Conduct Authority (FCA)’s growing r...
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7 UAE Law Firms Penalized in Anti-money Laundering Violations
Around 100,000 dirhams have been fined to 7 law firms in UAE for disregarding anti-money launderi...
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United Kingdom watchdog puts pressure on Deutsche bank
According to the Financial Times, the United Kingdom financial regulator has censured the Deutsch...
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EU and British Financial Watchdogs to Investigate Digital Stock Tokens
The German and British regulators are reportedly investigating the stock token trading, recently ...
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California to Reopen its Economy with COVID Vaccine and Testing Requirements
After more than a year of COVID-19 restrictions, the State of California to finally reopen its ec...
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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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FinCEN Alerts FIs of Sanction Evasion by Russian Entities Implicated in U.S. Commercial Property Investments
FinCEN alerted all the Financial Institutions warning about the risk of investment from sanctione...
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Philippine Banks Struggle to Comply with AML Regulations
Philippian banks and financial institutions are struggling with compliances regarding the anti-mo...
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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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FBI Reveals North Korea’s Lazarus Group Involvement in $41 Million Stake Hack
US Federal Bureau Investigation (FBI) has revealed that the North Korean hacking group, Lazarus, ...
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OSCE Hosts Regional Conference on Combating Money Laundering and Terrorist Financing in South-Eastern Europe
The chairperson of the OSCE for North Macedonia addressed issues of corruption, money laundering,...
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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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Council of Europe Urges Montenegro to Step Up AML Measures
The Council of Europe stated in a recent report that Montenegro lacks sufficient measures to inve...
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Fintech funding dwindles amidst Coronavirus pandemic
Fintech funding reduced at the beginning of 2020 because the COVID-19 outbreak began to hit late ...
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Bulgaria Must Strengthen its Measures Against Money Laundering & Terrorist Financing – Moneyval
Moneyval called on Bulgaria to improve the regulatory standards for the domestic framework consis...
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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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