The Top 10  Most Difficult Countries for Identity Verification

The Top 10  Most Difficult Countries for Identity Verification

Download Report

Oklahoma Takes Strict Legislative Measures to Prevent Child Identity Theft

strict

The Senate of Oklahoma has approved a bill to take strict measures against those involved in the identity theft of a child. Now harsher penalties will be applied to those found stealing the identity of a victim who is less than 18 years of age. 

A child identity theft study was conducted in 2018 which revealed that up to one million children in the U.S have been a victim of identity theft. This resulted in a loss of $2.67 billion. $540 million were lost in the family’s out-of-pocket expenses.

The study suggests that almost two-thirds of the victims were younger than 7 years of age. 

Senator of Oklahoma, George Burns, says, “Identity theft is a widespread issue, but very few people realize how prevalent child identity theft is in our society. Oftentimes, the theft isn’t discovered until the child reaches adulthood and attempts to open loans or credit accounts in their own name. It’s even more unfortunate when the perpetrator is the child’s own parent or family member. We must crackdown on this type of theft.”

The Child Identity Theft Resource Center revealed that various parents have found that their child’s identity was compromised when they were refused stimulus checks. This happened as the child’s social security number was already in use. 

Senator Burns also says: “Studies have shown that nearly two-thirds of child identity theft victims are under the age of seven. Unfortunately, I’ve even heard the tragic stories of the perpetrator being in the victim’s immediate family. We must hold these criminals accountable for their actions.”

Senate Bill 312 has been created by Senator George Burns and according to the bill, criminals involved in child identity theft will have to face harsher penalties. The penalty for child identity theft mentioned by the proposed bill is either two to ten years in prison or a fine of $100,000, or both prison time and fine. 

The current law penalizes the identity thief or fraudsters with one to five years in prison or with a fine that does not exceed $100,000. The proposed bill has been passed to the full Oklahoma House of Representatives for further implementation requirements. 

Related Posts

News

Canada’s Federal Agencies to Consult on Anti-Money Laundering and Counter-Terrorism Measures

The Canadian government has launched a public consultation to strengthen the country’s anti...

Canada’s Federal Agencies to Consult on Anti-Money Laundering and Counter-Terrorism Measures Explore More

News

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...

MGA Issues 10 Warnings and Revokes 6 Licenses of Gaming Operators Explore More

News

Homeland Security expects to have biometric data on nearly 260 million people

The US Department of Homeland Security (DHS) will soon have face, fingerprint and iris scans of a...

Homeland Security expects to have biometric data on nearly 260 million people Explore More

News

Amazon Sued Over Illegal Storage of Employee Biometric Data

Lawyers from the firm of McGuire Law P.C. of Chicago filed a class action complaint on November 1...

Amazon Sued Over Illegal Storage of Employee Biometric Data Explore More

News

Money Laundering & VAT Fraud Acquisition Against Lycamobile

A trial for money laundering and value-added tax (VAT) fraud between 2014 and 2016 started on Jun...

Money Laundering & VAT Fraud Acquisition Against Lycamobile Explore More

News

EU Parliament Committee Backs MiCA Deal to Effectively Manage Crypto

The MiCA deal has been approved by the economic committee of the EU Parliament. The committee has...

EU Parliament Committee Backs MiCA Deal to Effectively Manage Crypto Explore More

News

The Cayman Islands Lead Overseas Delegations Discussing Actions to be Removed from FATF’s Gray List

The Attorney General of Cayman, Samuel Bulgin, KC, and the Minister for Financial Services and Co...

The Cayman Islands Lead Overseas Delegations Discussing Actions to be Removed from FATF’s Gray List Explore More

News

US Authorities Seize Bahamas Bank for Laundering $58 Million

It’s rumoured that Deltec, a Bahamas-based bank popular with crypto clients, is linked to a...

US Authorities Seize Bahamas Bank for Laundering $58 Million Explore More

News

$196M Lost in BitMart Hack, Crypto Analysts Warn More Will Come

BitMart, one of the world’s largest cryptocurrency exchanges, lost $196 million in a recent...

$196M Lost in BitMart Hack, Crypto Analysts Warn More Will Come Explore More

News

EU to Disclose the Names of the Non-Compliant Banks

EBA, The European Banking Authority is setting up a database to highlight the names of banks and ...

EU to Disclose the Names of the Non-Compliant Banks Explore More

News

Real Estate is Becoming a Primary Target for Money Launderers in the UK

According to a government report, Luxury London homes are a new method to launder illicit funds. ...

Real Estate is Becoming a Primary Target for Money Launderers in the UK Explore More

News

The Cayman Islands Lead Overseas Delegations Discussing Actions to be Removed from FATF’s Gray List

The Attorney General of Cayman, Samuel Bulgin, KC, and the Minister for Financial Services and Co...

The Cayman Islands Lead Overseas Delegations Discussing Actions to be Removed from FATF’s Gray List Explore More

News

Britain Court Urges Binance for Better Financial Crime Prevention

The Court of London in an order emphasised that Binance should develop policies and procedures to...

Britain Court Urges Binance for Better Financial Crime Prevention Explore More

News

Better Business Bureau of North America Warns of Increased Scams & Fraud

On April 11, Marilyn Mott, director of the Better Business Bureau’s Prescott office, addressed a ...

Better Business Bureau of North America Warns of Increased Scams & Fraud Explore More

News

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...

UK Customers Losse £580m to Identity Scammers in First Half of 2023 Explore More

News

Saudi Arabia Takes New Measures to Tackle Financial Crime

Saudi Authorities have approved a new legislative measure designed to enhance their efforts in fi...

Saudi Arabia Takes New Measures to Tackle Financial Crime Explore More

News

MFSA, SEC, Along with FCA Introduces New AML Guidelines for Money Laundering Officers and Virtual Asset Service Providers

The Malta Financial Services Authority (MFSA), Securities and Exchange Commission (SEC), and Fina...

MFSA, SEC, Along with FCA Introduces New AML Guidelines for Money Laundering Officers and Virtual Asset Service Providers Explore More

News

Facial Recognition Market to Grow 12.5% Annually Through 2024

According to a new report by Mordor Intelligence, the facial recognition market is expected to gr...

Facial Recognition Market to Grow 12.5% Annually Through 2024 Explore More

News

Estonian Government to Strengthen AML Framework to Lift Crypto Ban

The Estonian Finance Ministry drafted AML amendments that will affect virtual asset service provi...

Estonian Government to Strengthen AML Framework to Lift Crypto Ban Explore More

News

The Cayman Islands Pleads to be Removed from the FATF’s ‘Gray List’ of Jurisdictions Suspected of Money Laundering

An initiative by the Cayman Islands in France, on June 19th, asked the Financial Authority Task F...

The Cayman Islands Pleads to be Removed from the FATF’s ‘Gray List’ of Jurisdictions Suspected of Money Laundering Explore More

News

Japanese Govt. to Enshrine FATF Crypto AML Standards into National Law

The Japanese government is getting ready to incorporate the Financial Action Task Force (FATF) cr...

Japanese Govt. to Enshrine FATF Crypto AML Standards into National Law Explore More

News

Bank of Lithuania Revokes License of UK Payments Firm for AML Failures

Transactive Systems Ltd., which processed more than €1 billion of payments every month, has had i...

Bank of Lithuania Revokes License of UK Payments Firm for AML Failures Explore More

News

Phishing Scam affects thousands of Banking App users

Thousands of customers have been exploited by a fake mobile banking app. The customers were sent ...

Phishing Scam affects thousands of Banking App users Explore More

News

China Announces Anti-foreign Sanctions Law

Under the new law, China has introduced countermeasures against senior managers and actual contro...

China Announces Anti-foreign Sanctions Law Explore More

News

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...

FATF Highlights the Increasing Risk of Trade-Based Money Laundering Explore More

News

European parliament imposes ban on facial recognition technology

Following a public outcry after the leak of an internal memorandum discussing the utilization of ...

European parliament imposes ban on facial recognition technology Explore More

News

EU Endorses New Crypto Tax Data Sharing Rules

Strict obligations are set to be implemented in the EU’s digital assets industry. Tax authorities...

EU Endorses New Crypto Tax Data Sharing Rules Explore More

News

Pacific Financial Intelligence Unit Collaborates to Combat Money Laundering

The Financial Intelligence Unit of the Pacific region arranged the meeting last week to enhance t...

Pacific Financial Intelligence Unit Collaborates to Combat Money Laundering Explore More

News

Central Bank Of China Tightens Financial Regulations to Curb Money Laundering

The Central Bank of China is tightening financial regulation to put limits on transactions, aimin...

Central Bank Of China Tightens Financial Regulations to Curb Money Laundering Explore More

News

Increasing Financial Crimes Call to Establish a European Center of Excellence For AML Compliance

EU financial and anti-financial crime regulations are more complicated than before and they reinf...

Increasing Financial Crimes Call to Establish a European Center of Excellence For AML Compliance Explore More

News

Cryptocurrency Fraud Reports to UK Action Fraud More Than Double in 2021

The study advises financial regulators to place more pressure on cryptocurrency institutions to c...

Cryptocurrency Fraud Reports to UK Action Fraud More Than Double in 2021 Explore More

News

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...

Australia Risks Damage To Economy Unless Money Laundering Laws are Improved Explore More

News

$6.1 Million Seized As US Treasury Sanctions Another Crypto Exchange

The US Department of the Treasury has sanctioned Chatex crypto exchange “for facilitating financi...

$6.1 Million Seized As US Treasury Sanctions Another Crypto Exchange Explore More

News

Singapore sees 300% yearly spike in Q1 cryptojacking attacks amid Coronavirus

Data published by Russian cybersecurity firm Kaspersky depicts that Singapore has witnessed a sud...

Singapore sees 300% yearly spike in Q1 cryptojacking attacks amid Coronavirus Explore More

News

FATF Warns Many Countries Continue to Face Challenges in Meeting Virtual Asset Regulations

Approximately 75% of FATF member countries fail to adhere to or only partially comply with Recomm...

FATF Warns Many Countries Continue to Face Challenges in Meeting Virtual Asset Regulations Explore More

News

Ripple CEO urges US Regulators to embrace Crypto

Brad Garlinghouse, CEO Ripple has encouraged the US regulator “to step up and lean into digital c...

Ripple CEO urges US Regulators to embrace Crypto Explore More

News

Crime on the Rise, Mutual Fund Investments Need KYC

Know Your Customer (KYC) is to be implemented on all financial market-related investments. In ord...

Crime on the Rise, Mutual Fund Investments Need KYC Explore More

News

US Courtrooms Ponder Over the Photo ID Requirement for Voters

The US courtrooms are again facing the debate over the use of photo identification for voters. A ...

US Courtrooms Ponder Over the Photo ID Requirement for Voters Explore More

News

El Salvador Must Address Bitcoin’s Risks, Demands IMF

The IMF has urged El Salvador to address the risk associated with the adoption of bitcoin as a le...

El Salvador Must Address Bitcoin’s Risks, Demands IMF Explore More

News

FINMA Allows Chip Scanning and Geolocation for Digital Customer Onboarding

The FINMA now enables the scanning of microchips inserted in biometric ID documents as an element...

FINMA Allows Chip Scanning and Geolocation for Digital Customer Onboarding Explore More

News

Fintech funding dwindles amidst Coronavirus pandemic

Fintech funding reduced at the beginning of 2020 because the COVID-19 outbreak began to hit late ...

Fintech funding dwindles amidst Coronavirus pandemic Explore More

News

“The Community” Fined $120M for Multi-million Cryptocurrency Theft Scheme

A sixth member of “The Community” was sentenced to 10-month imprisonment and over $120,000 fine f...

“The Community” Fined $120M for Multi-million Cryptocurrency Theft Scheme Explore More

News

Consumers Lost €15.6M to Impersonation, Investment, and Romance Scams

Approximately 70% of Irish consumers have been targeted by some form of identity scam, according ...

Consumers Lost €15.6M to Impersonation, Investment, and Romance Scams Explore More

News

Growing List of Countries are Introducing Regulations on Crypto

Ukraine’s Parliament officially adopted the Draft Law On Virtual Assets. Prior to this, cryptocur...

Growing List of Countries are Introducing Regulations on Crypto Explore More

News

Crypto and Forex Scams Cost Belgian Investors $12 Million

According to the Belgian financial watchdog, fraudsters stole approximately $12 million from the ...

Crypto and Forex Scams Cost Belgian Investors $12 Million Explore More

News

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...

UK has Suffered Fraud and Cyber Crime Losses Worth £1.3 Billion in 2021 Explore More

News

FCA Cracks Down on Various Operators Hosting Illegal Crypto Cash Machines Around Leed

The FCA (Financial Conduct Authority) suspects many sites around Leeds of hosting illegally opera...

FCA Cracks Down on Various Operators Hosting Illegal Crypto Cash Machines Around Leed Explore More

News

Brazilian Police Confiscates $33 M in Crypto Money Laundering Probe

Brazilian authorities have seized R$172 million from an investigation carried out into money laun...

Brazilian Police Confiscates $33 M in Crypto Money Laundering Probe Explore More

News

Fraudsters Target UK’s £400 Energy Bill Support Scheme through Scam Texts

Fraudsters are taking advantage of the support program initiated for people to lessen the burden ...

Fraudsters Target UK’s £400 Energy Bill Support Scheme through Scam Texts Explore More

News

Philippines Extends Registration Period for Amended AML Regulations

The Anti-Money Laundering Council in the Philippines has revisited the guidelines of the Anti-mon...

Philippines Extends Registration Period for Amended AML Regulations Explore More

News

Malta-based Pilatus Bank Fined €5m Over AML & Terrorism Breaches

Pilatus Bank failed on various accounts, including identity verification of customer businesses, ...

Malta-based Pilatus Bank Fined €5m Over AML & Terrorism Breaches Explore More

News

£2 Million of Suspected Money Laundering Assets Seized by Royal Gibraltar Police

Following information from a Spanish law enforcement agency, the Royal Gibraltar Police have init...

£2 Million of Suspected Money Laundering Assets Seized by Royal Gibraltar Police Explore More

News

Financial Intelligence Center Says SA Car Dealers Are at High Risk of Money Laundering

The Financial Intelligence Centre (FIC) has said that SA’s motor vehicle dealers are at a high ri...

Financial Intelligence Center Says SA Car Dealers Are at High Risk of Money Laundering Explore More

News

MAS Finalises New Data-sharing Platforms for the Banking Sector

MAS has developed a new platform that will allow banks to securely share information and warn eac...

MAS Finalises New Data-sharing Platforms for the Banking Sector Explore More

News

SkyCity Entertainment Earmarks $29m for Anticipated AML/CFT Regulations Fine

Australian gaming company, SkyCity Entertainment, has provisioned $29m in anticipation of a civil...

SkyCity Entertainment Earmarks $29m for Anticipated AML/CFT Regulations Fine Explore More

News

Sydney’s ‘Mini Casino’ Venues Suspected for Money Laundering

Sydney’s 10 “mini-casino” poker venues have been suspected of money laundering activities. Accord...

Sydney’s ‘Mini Casino’ Venues  Suspected for Money Laundering Explore More

News

FATF Finalizes Key Working Areas in its Fifth Plenary Meeting

FATF’s fifth plenary meeting consisting of 206 members of the Global Network and Observer organiz...

FATF Finalizes Key Working Areas in its Fifth Plenary Meeting Explore More

News

Tesla Data Breach Leaks Personal Information of 75,000 Customers

Confidential data of approximately 75,735 people, including names, cell phone numbers, and addres...

Tesla Data Breach Leaks Personal Information of 75,000 Customers Explore More

News

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...

Singapore replaces passwords and ID documents with facial recognition systems Explore More

News

Danish Gaming Regulator to Support the Ministry of Justice’s National AML Strategy

Denmark promises to crackdown on money laundering activities across the nation with a new AML str...

Danish Gaming Regulator to Support the Ministry of Justice’s National AML Strategy Explore More

News

Australia sues Facebook for $525 billion

A lawsuit was filed against Facebook by Australia’s privacy regulator, blaming the social media p...

Australia sues Facebook for $525 billion Explore More

News

Ghana Records $4.33m Financial Losses to Cyber Fraud in Q1’23

Ghana suffered direct financial losses of US $4.33 million due to cyber fraud activities between ...

Ghana Records $4.33m Financial Losses to Cyber Fraud in Q1’23 Explore More

News

WhatsApp accounts hacked to acquire bank card details

Recently a new scam has emerged in Singapore where hackers are found to take-over WhatsApp accoun...

WhatsApp accounts hacked to acquire bank card details Explore More

News

Amendments in Thailand’s Money Laundering Act to Include New Offenses

A proposed amendment in Thailand’s Money Laundering Act was approved by the cabinet to include ad...

Amendments in Thailand’s Money Laundering Act to Include New Offenses Explore More

News

Real Estate is Becoming a Primary Target for Money Launderers in the UK

According to a government report, Luxury London homes are a new method to launder illicit funds. ...

Real Estate is Becoming a Primary Target for Money Launderers in the UK Explore More

News

Peru’s Former and Current President under Investigation for Alleged Money Laundering

Peru’s former and current presidents are under investigation for alleged money laundering a...

Peru’s Former and Current President under Investigation for Alleged Money Laundering Explore More

News

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...

FATF Calls for Urgent Implementation of Crypto Information Sharing Mechanisms Explore More

News

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...

UK and UAE Take Steps in Joint Efforts to Combat Money Laundering Explore More

News

AMLC Freezes Assets of 16 Groups Labeled as Terrorist Organizations

The Anti-Money Laundering Council in the Philippines has frozen the accounts of 16 organizations ...

AMLC Freezes Assets of 16 Groups Labeled as Terrorist Organizations Explore More

News

Oklahoma Takes Strict Legislative Measures to Prevent Child Identity Theft

The Senate of Oklahoma has approved a bill to take strict measures against those involved in the ...

Oklahoma Takes Strict Legislative Measures to Prevent Child Identity Theft Explore More

News

AML Council to Impose Sanctions on Property Dealers for Non-compliance

The Philippines’s Anti-Money Laundering Council (AMLC) is all set to impose sanctions and fines o...

AML Council to Impose Sanctions on Property Dealers for Non-compliance Explore More

News

South Africa Earmarked R265 Million to Get Off FATF’s Greylist

Finance Minister Enoch Godongwana announced on Tuesday that allocating R265 Million is one of sev...

South Africa Earmarked R265 Million to Get Off FATF’s Greylist Explore More

Take the next steps to better security.

Contact us

Get in touch with our experts. We'll help you find the perfect solution for your compliance and security needs.

Contact us

Request demo

Get free access to our platform and try our products today.

Get started