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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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California to Legislate Stronger Children’s Online Safety Bill
Assembly Bill 2273 for children’s online safety and privacy was approved by lawmakers in Ca...
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Governor Bank of France to Propose Licencing for Crypto Firms
François Villeroy de Galhau, the Governor Bank of France, has passed more stringent regulatory pr...
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AML/KYC Non-compliance Penalties Drop by 40% in the Second Half of 2021
KYC/AML non-compliance penalties have dropped by 40% in the second half of 2021. However, this do...
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Cambodian Minister of Justice Addresses AML Action Plan to Escape FATF’s Gray List
The Minister of Justice Koeut Rith has advised all financial institutions to continue their coope...
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Banks Creating Regulations for the Cannabis Merchants for Better Compliance
Growing and dealing in cannabis was illegal a few years back. However, the medical benefits of ma...
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Nepal at Risk of ‘Graylisting’ for Allowing Money Laundering
Nepal could be added to FATF’s greylist as the global AML watchdog has found a number of deficie...
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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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Iran’s Finance Ministry Releases List of Individuals Suspected of Money Laundering
The Finance Ministry of Iran has released its first list of individuals suspected of having links...
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FCA Puts its Foot Down Against Money laundering in Banking Sector
Financial Conduct Authority, FCA, is taking action against money laundering in the banking and fi...
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FCA Unveils Three-Year Anti-Money Laundering Strategy to Curb Financial Crime
The FCA unveiled in its new report a three-year anti-money laundering strategy which includes a n...
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The Financial Intelligence Analysis Unit Levies Fines Worth €2.2 Million in the First Half of 2023
The Financial Intelligence Analysis Unit fined €2.2 million in the first half of 2023. A constitu...
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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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The UK’s Financial Services Minister States Banks Should Not Close Accounts Based on Political Views of Their Customers
The financial services minister, Andrew Griffith, commented on July 4th that banks should be requ...
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AFSA Amends AML/CFT Rules for Compliance with FATF Recommendations
AFSA has introduced amendments to the AIFC Anti-Money Laundering and Counter-Terrorist Financing ...
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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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NFIU Increases Efforts to Remove Nigeria from FATF Gray List
The Nigerian Financial Intelligence Unit (NFIU) has stated that it is working towards removing th...
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UK Announces New Legislation to Regulate Crypto Assets Industry
The UK’s government has developed its first legal framework for cryptocurrency trading and ...
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UK Government Issues New Guidance On Data Collection Related To Self Custody Crypto Wallets
The government of the United Kingdom is issuing new rules on the collection of data for the crypt...
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Former NFL Player Guilty of Identity Theft, COVID-19 Relief Fraud
Ex NFL player has been found guilty to one count of unauthorized access device fraud and one coun...
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Japan’s regulator verifies 2 new digital currency alliances
Financial regulators in Japan have approved two organizations to act as digital currency associat...
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Shufti Introduces AI-Based OCR for Better Customer Verification
Verifying customers is the goal of our clients and we believe in providing the best solutions. Th...
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US Officials Visit Iraq to Lessen Currency Crisis, Says Central Bank Governor
Iraq’s currency may get uplifted after the meeting between the US top treasury officer and the he...
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SEC Orders Finance, Lending Companies to Submit AML Plans by 21 June
Philippine’s SEC has ordered all financing and lending companies to submit their plans for the im...
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Shanghai police warn citizens to beware of online romance frauds
Shanghai police are warning people to be aware of Romantic Internet scams in which victims lose a...
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Livestreaming Helps Shanghai Police Crack Money Laundering Case
There has been an arrest of a live streamer by Shanghai police who had been tipped off by a live ...
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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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“Illicit Actors are Turning to E-commerce as a Money Laundering Tool” UAE Central Bank Discloses
The United Arab Emirates central bank sees increased risks of illicit financial flows emerging fr...
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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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Financial Regulators in China Ban Bitcoin Trading for Financial Security
China imposed a fresh ban on the cryptocurrency sector making the price of bitcoin fall below $34...
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UAE Charges Six Companies with Dh3.2 Million for AML/CTF Violations
The UAE has fined six companies Dh3.2 million for failing to comply with Anti-Money Laundering an...
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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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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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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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Congress to Pass Urgently Needed AML & Whistleblower Protections Against Russian Oligarchs
Congress is close to passing urgently required AML and whistleblower protections targeting Russia...
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Indonesia to Pass Regulations to Control Money Laundering
Indonesia is looking to develop a strong regulatory framework to curb money laundering and terror...
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Albanian Financial Supervision Authority Approves Crypto Licensing Regime
Albanian Financial Supervision Authority has approved a licensing regime for crypto exchanges for...
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FCMC Fines AS PrivatBank Worth €768K for AML Non-Compliance
The FCMC fined PrivatBank for AML/CTPF compliance breaches and instructed the bank to address its...
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FATF Updates on South Africa’s AML Compliance Progress
A report on South Africa’s progress in implementing AML procedures to prevent money launder...
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US Seizes 18 Crypto ATMs Bought With Fraudulent Loans
US law enforcement has seized 18 cryptocurrency automated teller machines previously purchased vi...
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COVID-19 Vaccines at the Risk of being Illegally Obtained by Fraudsters
There is nothing more awaited than the coronavirus vaccine this year. The international agencies ...
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Turkish President Announces New Crypto Bill to Legalize Virtual Assets
Turkey’s Parliament to announce the cryptocurrency bill in the coming weeks. Legal framework will...
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Guyana Completes Money Laundering and Terrorist Financing Report Afore CFATF Assessment
Guyana has completed its second money laundering and terrorist financing National Risk Assessment...
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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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Ransomware attack exposes 1.5TB of stolen aerospace data
ST Engineering Aerospace’s US subsidiary experienced a ransomware attack that extracted about 1.5...
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Denmark’s Gambling Authority Issues Reminder for AML Duties
All licensed businesses are reminded to report suspicious transactions that may be indicative of ...
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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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Danish Gambling Operator Reports Tipwin to the Police for AML Failings
Then danish gambling operator Spillemyndigheden has reported Tipwin to the police for violating t...
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Business Email Compromise Scam Taking a Toll on Businesses
BEC, Business Email Compromise scams are on the rise and they continue to impact businesses. Ther...
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Fintrac Warns Casinos of Gamers Paying with Bank Drafts
Canada’s anti-money laundering agency is warning casinos to be cautious of customers who pay for ...
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After Targeting 30 People, the “Major Identity Theft Player” Got Arrested by MPD
Roseanna Russell, who the police call ‘mega player’, got caught by the Mobile police. The reports...
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FATF Examines Technology use in Making AML/CFT More Effective
FATF has recognized the importance of combining human input and manual review with automation for...
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AUSTRAC Throws in Hands in their Fight Against Money Laundering through Casino Junk Operators
Australian regulatory bodies to fight financial crimes have known for quite a time that casino ju...
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FinCEN and OCC Fine Texas Bank $9 Million for BSA-AML Violations
A Texas community bank was fined by the Financial Crimes Enforcement Network (FinCEN) and the Off...
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UAE Praises Singapore’s S$2.8b Financial Crime Bust
The director-general of UAE anti-money laundering and counter-terrorism financing commends Singap...
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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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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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SEC Partners with Government Agencies and Philippines Police to Combat Money Laundering
The SEC signed a data-sharing agreement with the Philippines police and other government agencies...
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Hackers Leak Stolen Patient Data After Ransomware Attack on Medibank
Medibank has warned its customers to be extra cautious after hackers started disclosing private m...
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UAE Extends the Deadline for DNFBPs to Register for AML Regulations
The Ministry of Economy (MoE) in Abu Dhabi has announced the deadline extension for the registrat...
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Shufti Introduces Digital COVID Pass for COVID Test Verification
Shufti has launched a Digital Covid Pass solution to promptly verify the COVID PCR-test repor...
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Czech Republic Ramps Up Efforts to Combat Financial Crimes
According to a Moneyval report, the Czech Republic is showing progress in improving its complianc...
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Bank of England fines Citigroup £44m Over Poor Financial Information
The Bank of England has fined the UK branch of the US bank, Citigroup, a record £44m because the ...
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SFMS Reports Blocking Russian Crypto Exchanges
Ukraine’s financial monitoring agency has restricted access to several online crypto exchan...
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Australian Gold Company, The Perth Mint, Accepts Voluntary Undertaking to Avoid AML Fines
The Australian gold corporation, the Perth Mint, escaped penalties for inadequate compliance syst...
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Investment Bank Fined by FCA for Failing with Due Diligence Requirements
An Investment Bank in London, Sapien Captial, has been penalised by the financial regulator, Fina...
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Indian Brokers Under Investigation for Alleged Money Laundering and Identity Theft
Three of the most prominent brokers in the country have come under scrutiny from numerous regulat...
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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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US Launches First Criminal Prosecution for Alleged Cryptocurrency Sanctions Case
Criminal charges are issued by the US Justice Department for the first time for transmitting more...
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Japan to Enforce Strict Anti-Money Laundering Laws on Cryptocurrency
A stringent set of anti-money laundering measures will be implemented in Japan starting June 1st,...
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Officials Concerned about the Russian Money Laundering Done Through the UK
The top officials in the UK have shown their concerns about the disturbing regularity of the Russ...
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US Senators Urge CISA to Incorporate Rules for Ransomware Reporting
US senators have urged the CISA to enforce new ransomware reporting rules amid a sharp increase i...
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