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FINTRAC Warns of Online Gambling Platforms Being Utilized for Money Laundering
Canada’s financial intelligence unit warns that illicit cash is being laundered through online ga...
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Uganda at Risk of Getting Blacklisted by FATF Unless it Addresses 16 Issues
Uganda is facing the risk of being added to a global blacklist for money laundering and terrorism...
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US Authorities Government Announce Limitations to Crypto Industry to Combat Money Laundering
The US officials stated they will limit cryptocurrency firms’ operation in the country if t...
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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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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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Phase One of the Crypto Regulatory Framework in Switzerland Begins
As of today, phase one of the regulatory framework regarding the cryptocurrency and blockchain in...
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DC is the Latest State to Sue Juul over Targeting Minors
The District of Columbia is now the latest state to sue c-cigarette maker, Juul Labs, saying the ...
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Dubai Court Sentences Gang of 18 for Charges of Money Laundering
The Dubai Criminal Court has convicted a gang of 18 individuals belonging to different countries ...
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“Crypto Should Be Regulated, Not Prohibited”, Says ECB Vice President
After his statement in May that declared cryptocurrencies as a risky investment, the Vice Preside...
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Major Law Enforcement Operation Seizes 300 Crime Rings, Millions In Crypto Recovered
Millions in crypto seized, 300 criminal syndicates raided and arrested.
In today’s financial cri...
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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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Over a Million T-Mobile Customers Affected By a Data Breach
T-mobile suffered a data breach earlier this month, the company confirmed this on their website t...
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Sberbank Warns Russians; Cybercrime Cost the Nation $49bn in 2020
According to Russia’s largest state-owned bank, Sberbank, the total amount the citizens along wit...
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House Bill Passed in Philippine to Enforce AML LAW
House of Representatives has approved legal amendments to regulate the developers, metal dealers,...
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France Ranked Among Countries with Effective Measures to Tackle Financial Fraud
The latest FATF report ranks France among countries that have effective measures in combating fin...
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UAE Central Bank Fines Firm $490,000 for Violating AML/CFT laws
The UAE’s Central Bank has charged a financial firm Dh1.8 million ($490,000) over breaching the c...
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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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Crypto Scams Reach New Heights in 2020 With $24M Stolen So Far
Whale Alert alleges that crypto scams are skyrocketing so far in 2020.
A report revealed,scammer...
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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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Experts Warn that Scammers are Exploiting EU Users on Meta’s Threads
Meta’s Threads app has become the newest platform for cyber scammers to commit identity theft, cr...
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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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UK to Mandate the Declaration of Crypto Holdings in Self-Assessment Tax Return Forms
The UK government is looking to mandate the declaration of crypto holding in Self Assessment tax ...
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FINTRAC Issues Alert on Money Laundering from Illegal Wildlife Trade
FINTRAC, in collaboration with the Project Anton team, issues an alert on money laundering procee...
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“Real Estate Is Critical To Money Laundering”, Says BSP
The Governor of BSP bank emphasized the urgent need for brokers to guard real estate against mone...
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FCA Fines Gatehouse Bank £1.58mn for Breaching Money Laundering Regulations
The Financial Conduct Authority (FCA) has fined Gatehouse Bank £1.58 million. The regulator disco...
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Gibraltar financial watchdog issues warnings for four crypto sites
The Gibraltar Financial Services Commission, or GFSC, on June 5th, issued four public warnings to...
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UN Warns of Money Laundering Risks Arising from Mekong Region Casinos
According to the U.N. Office on Drugs and Crime, the bond of China and Thailand with Myanmar is g...
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Financial gain surpasses espionage as a top motivator in cyber attacks
NEW YORK – According to Verizon’s annual report on cybercrimes, money surpassed spying as t...
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Legal Challenges Against TikTok for Breaching Child Privacy Policy
TikTok, the most trending social media application in the present times is facing legal actions f...
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Following an FCA Crackdown, Cryptocurrency Investors to Wait 24 Hours Before Completing Their Transactions in the UK
The Financial Conduct Authority (FCA) crackdown forces new crypto investors in the UK to wait 24 ...
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US to Rigorously Implement Anti-Money Laundering in Crypto
A rule requiring cryptocurrency firms to share data about their customers will be strictly implem...
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Updated Crypto AML Rule in South Korea Set to Take Effect from 25th March
South Korea’s official financial regulatory body, the Financial Services Commission (FSC), announ...
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Binance’s Regulatory Setback in Singapore Shifts Attention to Middle East
Binance, the world’s largest cryptocurrency exchange, withdrew its application for licence in Sin...
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FINMA Penalizes Swiss Bank over Money Laundering of $78 Million
The Swiss regulatory authority, FINMA, initiated a lawsuit against the senior management at Juliu...
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Rabobank Fined EUR 500K for Ineffective KYC Compliance
The Dutch Central Bank (DNB) instructed Rabobank to enhance their CDD, transaction monitoring, an...
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FATF to Conduct Checks & ‘Gray List’ Countries to Enforce Crypto AML Regulations
Global financial watchdog FATF has planned to perform checks and ‘grey list’ countries to ensure ...
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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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UAE Imposes Fines Exceeding Dh115 Million to Combat Money Laundering in Q1 of 2023
The UAE has imposed a monetary penalty of Dh115 million ($31.3M) in the first quarter (Q1) of 202...
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UK Parliament Legislates New Digital Identity Verification Services Bill
On Wednesday, in the King’s Speech, the UK government presented a new Digital Identity Verificati...
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EU Suggests Blacklisting UAE Following “Dubai Uncovered” Leaks
The EU has suggested blacklisting UAE under the “Dubai Uncovered” leaks depicting how sanctioned ...
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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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Fake NFT Sold for £244k from Artist “Banksy’s” Website
A fake link directed bidders to an online auction for Banksy’s NFT, which was posted on the now-d...
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Swiss Prosecutors Open Probe Against “Suisse Secrets” Whistleblower
The Swiss Prosecutors have launched an investigation, not after the bank but against the Suisse S...
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Kinahan Cartel Under Pressure as European Union Places UAE on ‘Blacklist’
The Kinahan Cartel is under great pressure after the European Union (EU) places the UAE on the ‘b...
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Bank of Queensland Commits to Anti Money Laundering Laws and Risk Management
Bank of Queensland Ltd (BOQ.AX) disclosed that separate agreements had been reached with the coun...
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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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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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Macau Police Arrests Cross-border Money Laundering Group for Illicit Financing of HK1.1 Billion
A group of 22 individuals were arrested by authorities in Macau and HK for suspicions of being in...
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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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Guyana Holds US-Sponsored Conference to Examine Asset Recovery and Money Laundering Issues
The Judiciary of Guyana organised a two-day conference in collaboration with the US Department of...
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Croatian Finance Ministry Proposes New Bill to Combat Money Laundering
The Croatian Finance Ministry has introduced a new bill for state institutions to monitor the ban...
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NAB, CBA Under Money Laundering Probe Yet Again
Australia’s CBA and NAB are under regulatory scrutiny for providing correspondent banking service...
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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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FinTech in Malaysia is Improving Due to Friendly Regulations
Malaysia has taken a user-friendly approach to adapt to financial regulations as it is working to...
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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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UAE Issues Guidance to Registered Unlicensed Crypto Firms
UAE’s regulatory authorities stated all unlicensed Virtual Service Providers (VASPs) companies wi...
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Pakistan’s State Bank unveils new AML/CFT regulations for Forex Firms
State Bank of Pakistan on Tuesday amended Anti-money laundering (AML) and Counter Financing of te...
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Albania Fails to Take Strict AML/CFT Measures
According to MONEYVAL, Albania has failed to take the necessary steps to improve measures on figh...
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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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EU Takes First Step to Set Up Anti-Money Laundering Supervisor
The European Union should contemplate creating an independent agency to supervise anti-money laun...
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Insurance and Pension Sector in Zimbabwe Progressing in Anti-Money Laundering Efforts
Both sectors in Zimbabwe are prone to money laundering, and the first target of the authorities i...
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Saudi’s SAMA Warns Clients of Upsurge in Financial Fraud
SAMA urges clients to practice the highest degree of caution and prevents exposing any confidenti...
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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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Adobe, Twitter and NYT Team Up Against Deepfakes
Deepfakes, whether synthetic or manipulated, are rising at an alarming rate. They can cause immen...
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Financial Crimes Surged Amid COVID-19, Says FATF
Financial Action Task Force (FATF) speaks up about the adverse effects of COVID-19 on financial r...
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FINRA Issues Notice to Remind Firms of Nation-wide AML/CFT Priorities
FINRA has issued a notice reminding all member firms to comply with AML/CFT priorities as mandate...
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UK Convicts 11 Couriers for Conspiring to Launder $124 Million in Cash to Dubai
An investigation conducted by the UK’s National Crime Agency led to the conviction of 11 co...
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Dutch Rabobank Under Investigation Over Suspected AML/CTF Violations
According to the Netherlands’ second largest money lender, Dutch prosecutors are investigating Ra...
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UAE Central Bank Issues New Anti-Money Laundering Guidelines
The Central Bank stated that all financial institutions have a month to comply with the new AML g...
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The Corporate Transparency Act is Set to be Implemented in January 2024 Across the Country
The Corporate Transparency Act passed in 2021 is going into enforcement in a few days and will im...
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Betting and Gambling Council Host AML Training for Gambling Industry
During the Gambling Anti-Money Laundering Group (GAMLG) training day on September 6th, the Bettin...
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Binance Fined $3.4 million by Dutch Central Bank For Violating Regulatory Laws
The De Nederlandsche Bank (DNB) fined Binance with $3.4 million for failing to get regulatory ap...
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