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HKMA Reveals Phishing Fraud Went Up by 145% in 2021
Statistics revealed by HKMA show that phishing fraud rose by 145% in the first half of 2021.
Hon...
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FATF Publishes Two New Updates on Global ML/TF Risks
FATF, the international group that makes global Anti-Money Laundering and Countering Terrorism Fi...
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UAE Regulatory Authority Enforces Import Invoice Verification to Fight Trade-Based Money Laundering
United Arab Emirates (UAE) has implemented the latest compliance regulations for importing commod...
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Department of Finance Announces Commencement of South Africa’s New AML/CTF Laws
Department of Finance has announced the start date for South Africa’s new Anti Money Laundering a...
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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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Beware of Puppy Scams This Holiday Season – BBB
The Better Business Bureau (BBB) has warned people to be cautious of online puppy scams, especial...
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Cayman Island Businesses Urged to Maintain Beneficial Ownership Information
Cayman companies are urged to maintain beneficial ownership information in accordance with intern...
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Half of Anti-malware Products fail to Recognize Notable Threats
According to a new report by SE labs, Most popular, well-established cybersecurity solutions do n...
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Department of Justice Charges Russian Oligarch with Violating US Sanctions
The Justice Department reportedly charged a Russian oligarch with violating US sanctions and reve...
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FATF to Reassess Morocco’s AML Measures for Possible Removal from Gray List
The Financial Action Task Force (FATF) is all ready to reevaluate Morocco’s Anti Money Laundering...
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Dubai KYC consortium to enhance UAE bank profits
According to Moody’s Investors Service, the recently formed Know Your Customer (KYC) consortium i...
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US Crypto Firms Reluctant Towards New KYC/AML Proposal by FinCEN
The US crypto firm, Coinbase, sent a letter to FinCEN with a clear message, “There is no emergenc...
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HMRC Fines Real Estate Agencies £500,000 for Anti-Money Laundering Violations
HMRC has issued a total of £519,645 in fines to 68 estate agents that failed to comply with rule...
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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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Social Media Firms May Face Parallel Regulation – Says Data Protection Authority
Social media platforms approached the I&B ministry citing apprehension that they may face par...
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The Bahamas to Launch a Payment Card for Central Bank Digital Currency
Bahamas’ Central Bank has joined hands with Mastercard and digital payment startup Island Pay to ...
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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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DFSA and Financial Intelligence Collaborate to Combat Financial Crime in UAE
Memorandum of Understanding (MoU) between the Dubai Financial Services Authority (DFSA) and the F...
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Hungary Becomes “Largely Compliant” with FATF Standards After Improving AML/CFT Measures
The Anti-Money Laundering Body of the Council of Europe has stated that Hungary has improved its ...
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Australia sues Facebook for $525 billion
A lawsuit was filed against Facebook by Australia’s privacy regulator, blaming the social media p...
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UK’s AML Regulations for Art Market Excludes Art Creators
The UK to implement new Anti-Money Laundering regulation to cover the art market from 10th June 2...
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11 Arrested for Illegal Offshore and Cross-Border Gambling Activities in Macau
11 people arrested along with businessman Alvin Chau in an investigation of bogus gambling scheme...
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US State joins international task force targeting COVID-19 investment scams
The Oregon Division of Financial Regulation has recently joined an international enforcement task...
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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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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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Guyana Joins Sister Caribbean Countries to Stop Money Laundering
“Guyana has joined the Caribbean network to counter money laundering and introduced a global fina...
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Monetary Authority of Singapore (MAS) Fines Four Financial Institutions for Breaching AML Laws
A fine of S$3.8 million (Singapore dollar) was handed down by the Monetary Authority of Singapore...
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“Student” Occupation Flagged for Money Laundering in Canadian Real Estate
Son of “wanted for defrauding 60,000 investors” Chinese parents laundered millions of dollars int...
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US Treasury Hits Bittrex with $53 Million Fine Over Sanctions Violations
The US Treasury Department has imposed a $53 million fine on Bittrex for violating sanctions and ...
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FATF Highlights the Increasing Risk of Trade-Based Money Laundering
FATF- Financial Action Task Force is warning businesses of the risk they face regarding trade-bas...
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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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The number of Bitcoin ATMs has increased to 8,000
The total number of Bitcoin ATMs across the world have crossed 8,000.
The United States has more...
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China’s Law Enforcement Authorities Issue Warning Against NFTs to Curb Financial Crimes
China’s three major banking regulators have issued a warning against non-fungible tokens (NFTs) w...
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Central Bank of Morocco to Introduce a Comprehensive Crypto Regulation Bill
Morocco’s Central Bank is drafting a set of comprehensive cryptocurrency laws as the digital asse...
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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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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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New South Wales (NSW) Government to Make Poker Machine Reforms after Victoria Introduces Strict Anti-Money Laundering Restrictions
The New South Wales (NSW) government of Australia continues to pressure gambling companies to str...
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Hong Kong Provides Guidance to Fight Financial Crimes Emerging from COVID-19
The Monetary Authority in Hong Kong (HKMA) has issued new guidelines for the banks on merging ext...
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Chinese Banks Promise To Step Up Cryptocurrency Ban
Some of the biggest banks in China have promised to refuse help to customers that trade with Bitc...
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Binance Expands Footprint in Europe as it Acquires License to Operate in Sweden
The Swedish financial supervisory authority (FSA) allowed Binance to operate in the country, whic...
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California university pays a million-dollar crypto ransom
As per reports, the University of California reportedly paid a huge ransom of $1.14 million in cr...
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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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NY Lawmakers Approve Legislation Against Financial Fraud
Michael Gianaris, Deputy Leader of the Senate, recently announced his legislative measures to pro...
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Manchester Police Retrieves & Returns $23 Million Stolen Crypto Assets to Scam Victims
Manchester police have confiscated over $25 million worth of crypto that were stolen globally in ...
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Ireland embraces the EU’s Anti-Money Laundering (AML) directive
EU’s anti-money laundering directive has been actively embraced by countries all across the globe...
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MBSB Bank to Implement BNM’s Requirements for Combating Financial Crimes
Bank Negara Malaysia announced additional security measures for financial institutions to strengt...
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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 Proposes New AML Agency For Addressing Money Laundering
The EU document has been proposed to introduce tough action against money laundering in the regio...
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Real Estate Firm LeHomes Realty Fined $282K for AML Compliance Failure
Real Estate Firm LeHomes Realty has been fined $282K for AML compliance failure. The brokerage co...
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Social Media Firms May Face Parallel Regulation – Says Data Protection Authority
Social media platforms approached the I&B ministry citing apprehension that they may face par...
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US Treasury Department Introduces Beneficial Ownership Reporting Form to Enhance AML Measures
The US Treasury Department designed a beneficial ownership report form to strengthen the security...
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Colombian Financial Crime Unit Detects $20 Billion Potentially Linked to Money Laundering
Colombia’s Financial Crimes Unit has detected $20 billion in financial operations that are potent...
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UK has Suffered Fraud and Cyber Crime Losses Worth £1.3 Billion in 2021
London incurred the highest amount of losses to cybercrime and fraud in the first half of 2021, a...
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Germany to Establish New Regulatory Body to Combat Money Laundering
It has been reported that the German government will create a new regulatory body to combat money...
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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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Few Hours Left! Was Mail-in-Ballots Successful?
The US elections 2020 have been exhilarating yet stressful for all the residents. The coronavirus...
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US Senator Challenges the Proposed Crypto Regulations of FinCEN & FATF
Pat Toomey, the US Senator, has requested Treasury Secretary Janet Yellen to “make significant re...
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EU Sets a New Limit on Cash Transactions to Curb Financial Crimes
The EU countries have signed an agreement according to which the crypto-service providers must co...
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Swiss FinTech Firm LeonTeq ‘Strongly Refutes’ Allegations of Suspicious Transactions
Swiss FinTech firm LeonTeq has rejected allegations of suspicious transactions with possible link...
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Hong Kong Police Seizes $65 Million From Triad Controlled Money Laundering Ring
Hong Kong police detained 458 people and seized $65 million in connection with an extensive crim...
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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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455 Social Media Accounts Flagged for Rolling Out Fake IDs – Europol Reports
455 social media accounts flagged by Europol, which were providing fake identity documents to ill...
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NFT Market Skyrockets to $44 Billion as Money Laundering Increases
The non-fungible token (NFT) market value has increased from $106 million in 2020 to $44 billion ...
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Australia Risks Damage To Economy Unless Money Laundering Laws are Improved
A Senate committee says that Australia is at risk of damaging its economy if money laundering law...
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Singapore Authorities Investigates Bank’s Role in $1.8B Money Laundering Case
Singapore’s central bank started an investigation against banks involved in a $1.8b global wealth...
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Over Dh3 billion Confiscated from Firms violating AML Laws in UAE
The UAE has plans to take a strict stance on firms operating in the region over money laundering ...
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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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Cybercriminals demanded $3 million ransom from Travelex
The hackers behind a cyber attack on a foreign exchange firm Travelex ordered to pay $3 million r...
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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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Turkey to Face FATF’s Gray List Over Inadequate AML Practices
FATF is set to grey list Turkey over AML shortcomings, a move that is likely to affect the countr...
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The UAE Has Taken ‘Significant Steps’ in Fighting Financial Crime
UAE authorities have taken “significant steps” to prevent money laundering and other financial cr...
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China’s Financial Watchdogs All Set to Regulate FinTech Sector
China’s four years regime to clear all risks from the financial system have been extended to the ...
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