News
IMF Urges El Salvador to Restrict Cryptocurrencies as Legal Tender Amid Money Laundering Risks
The International Monetary Fund (IMF) is persuading El Salvador to revoke the initiative of makin...
Explore More
News
Hong Kong Custom Busts Money Laundering Ring Accused of Smuggling HK$170M
Investigators suspect that the criminal gang laundered part of the cash through casinos in Macau....
Explore More
News
Switzerland Ill-Equipped in Fight Against White Collar Crimes: SFAO Report
The Swiss Federal Audit Office investigated Switzerland’s meager protocols against white-co...
Explore More
News
Business Registry and FIAU Join Hands to Get Malta Off FATF Grey List
The Financial Intelligence Analysis Unit (FIAU) and Malta Business Registry (MBR) have signed an ...
Explore More
News
UK Approves New Age Verification Laws to Protect Children
The UK government approved the “Online Safety Bill,” which contains measures to protect children ...
Explore More
News
Cyber Attacks are More Frequent During the Holiday Season: CISA
The holiday season is always accompanied by deals, discounts, special offers and countless shoppi...
Explore More
News
Shufti Unveils New Product NFC Verification for NFC Based Identity Verification
Shufti has launched a new product, NFC Verification, that uses Near Field Communication techn...
Explore More
News
Travel to Restart as Several Countries Roll out Their Version of Vaccine Passports
Japan is planning on introducing a vaccine passport to make travelling easy for people. Internati...
Explore More
News
Philippine Plans to Introduce New Regulations on Beneficial Ownership
The Securities and Exchange Commission in Philippine has laid out new regulations that require tr...
Explore More
News
Reports Reveal NAB Contract Workers Received Little to No AML Training
The disclosure follows AUSTRAC’s recent launch of a formal investigation into NAB earlier this mo...
Explore More
News
Vietnam Collaborates with UK to Enhance AML Law Enforcement
The Vietnam Ministry of Public Security delegation, led by Deputy Minister Lieutenant General, Le...
Explore More
News
Star Entertainment Group Experiences $1.26B Loss after Money Laundering Investigation
Star Entertainment Group experienced a major loss of $1.26 billion during the first half of 2023,...
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...
Explore More
News
American Gaming Association Updates Best Practices for AML
The American Gaming Association (AGA) has released updated “Best Practices for Anti-Money Launder...
Explore More
News
FinCEN May Release a YouTube Video to Outreach Latest BOI Rules
The Financial Crimes Enforcement Network (FinCEN) director stated they are creating awareness cam...
Explore More
News
Norway to Revive Travel by Introducing Vaccine Passports
By the Summer of 2021, Norway plans to revive travel to and from the country as it joins the list...
Explore More
News
Senate Reveals a 12-Year-Old Loophole Targeted by Americans to Cheat IRS
Offshore tax loopholes are safe havens for wealthy Americans to cheat the Internal Revenue Servic...
Explore More
News
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...
Explore More
News
EU’s decision to ban Facial Recognition for five years divides the tech giants
Facial recognition is emerging as a conflicting technology causing key disagreement among the wor...
Explore More
News
Fraudsters are all set to exploit Black Friday sales. Beware!
Criminals are aware that at this time of the year, shoppers are looking for discounted deals and ...
Explore More
News
India to Introduce Physical Cryptocurrency Bank Branches
India has been rapidly adopting the changes in the digital world and introducing physical banks f...
Explore More
News
The Ringleader of a Crypto-Ponzi Scheme Arrested After a Flee Attempt
Mathew Piercey, a Ponzi scheme leader who defrauded $35 million for crypto mining and other inves...
Explore More
News
Deutsche Bank AG Settles Money Laundering Probe Worth $7.1 Million
Deutsche Bank AG settled a money laundering case of $7.1 million over the probe by Frankfurt pros...
Explore More
News
EU Urges the UK to Push Harder on Tax Avoidance and AML Regulations
The European Union has shown concerns regarding legal permits which allow financial services prov...
Explore More
News
NGOs Advised on Due Diligence to Tackle Terrorism Financing
The Financial Crimes Commission’s SCUML has advised Non-Governmental Organizations (NGOs) to cond...
Explore More
News
Germany and Austria to Adopt Digital KYC for Customer Onboarding
Banks and financial institutions are always searching for ways to impress the customers and the d...
Explore More
News
6 members charged with Fraud in China for involvement in Multi-billion Dollar Plustoken Scam
Six alleged members of Plustokem scam were prosecuted according to the court filing submitted on ...
Explore More
News
Bithumb, Coinone and Korbit Team Up for FATF Travel Rule Compliance
Bithumb, Coinone and Korbit have founded a joint venture to facilitate all efforts for maintainin...
Explore More
News
A Trust Company Penalised for Opening a Doorway to Money Laundering
A team of accountants and economists have been fined by a court in Channel Island for neglecting ...
Explore More
News
Client Sues Credit Suisse for Losing $607 Million in Fraud Scheme
A Georgian billionaire, Bidzina Ivanishvili, has sued the Swiss bank, Credit Suisse over a Fraud ...
Explore More
News
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...
Explore More
News
UK Exposed to Significant Trade-based Money Laundering Risks Post-Brexit
Risks related to trade-based money laundering in the UK are expected in the upcoming years, accor...
Explore More
News
US Government Looking to Develop Vaccine Passports as Proof of Vaccination
The US government is looking to develop a system that would manage the credentials and verify the...
Explore More
News
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 ...
Explore More
News
Türkiye Removed From Gray List, India Recognized for Its AML Efforts, and Kuwait Urged to Have Better Money Laundering Control Measures: FATF Updates
On Friday, an international financial watchdog committed to securing the global economic system a...
Explore More
News
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...
Explore More
News
Coinbase Agrees to $100Million Settlement with NYDFS for AML Violations
Coinbase, The American cryptocurrency exchange platform, has agreed to pay $100 million in a sett...
Explore More
News
ACRA Cancels Registration of Company for AML/CFT Failures
The Accounting and Corporate Regulatory Authority (ACRA) has revoked the registration of a compan...
Explore More
News
Namibia Enhances its National Crypto Strategy with New Legislation
Namibia raises the bar with new legislation in the National Crypto Strategy to combat crypto scam...
Explore More
News
“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...
Explore More
News
MP Calls in For UK’s Defences in Opposition to “Dirty Money” Overrun
The cross-party group of MP declares UK defences in becoming the “jurisdiction of choice for dirt...
Explore More
News
Turkey Remains on the FATF Gray List for AML Regulations Failures
Turkey’s government has failed to comply with Anti-Money Laundering (AML) and Counter-Financing T...
Explore More
News
Kazakhstan to Regulate Local Cryptocurrency Businesses
Kazakhstan is tightening its KYC and AML regulations for cryptocurrency exchanges to combat money...
Explore More
News
EU Freezes $130 Million Worth of Assets Linked to Money Laundering in Lebanon
France, Germany, and Luxembourg have seized the properties and frozen assets worth $130 million l...
Explore More
News
FCA Takes NatWest to Court over Money Laundering Charges
The National Westminster Bank has been accused of neglecting the anti-money laundering regulation...
Explore More
News
China’s Digital Currency Could Be Launched ‘Quite Soon’
Within the next 6 to 12 months, China could launch its own digital currency which may become a ch...
Explore More
News
Crypto Adoption on the Rise, PayPal will Offer Crypto Payments in 2021
In the digital era, companies are shifting toward digital means of communication. Banks have plan...
Explore More
News
UAE: Virtual Asset Fraudsters to Face Imprisonment, Dh 1M Fine
Residents in the UAE have been advised to perform due diligence procedures prior to investing in ...
Explore More
News
Singapore Under High Scrutiny Amid Money Laundering Scandal
Singapore, an immaculate business hub, is under fire for one of the largest money laundering case...
Explore More
News
Westpac Freezes Executive’s Bonuses Amid Money Laundering Scandal
Westpac’s board will withhold bonuses of all of its senior executives as an ‘interim’ step follow...
Explore More
News
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...
Explore More
News
FinCEN and FDIC to Test the Effectiveness of Digital ID Verification Tools
Two federal regulators – the FinCEN and FDIC have called for a ‘tech sprint’ to assess the ...
Explore More
News
Bank of Valletta Fined EUR 2.6 Million for UBOs Reporting Failure
FIAU imposed a penalty of EUR 2.6 million on the Bank of Valletta for failing to report Beneficia...
Explore More
News
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,...
Explore More
News
FMA Blacklists Krypto Security, Bay Exchange, and CTRL Investments Limited
New Zealand’s FMA has warned investors against services and products being offered by unauthorize...
Explore More
News
IRS Highlights Potential Risk of Fraud in NFTs and Cryptocurrencies
IRS highlights Non-Fungible Token (NFTs) and crypto as the potential risk of financial crimes, in...
Explore More
News
Owner of RGCoins Rosen Iossifov Guilty of Crypto Money Laundering
Iossifov was accused of two conspiracy counts; racketeering and money laundering. After a two-wee...
Explore More
News
NY’s Attorney General Warns the Crypto Industry Against Illicit Activities
Letitia James, Newyork’s Attorney General, has sent a clear message to the entire crypto industry...
Explore More
News
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...
Explore More
News
Crypto-Supporting Digital Cards to be Launched Soon in China and Korea
UnionPay, an analogue for Visa and Mastercard service providers, has partnered with Danal, a Kore...
Explore More
News
Financial Fraud Alerts in the UK are Most Prevalent in Crypto Firms, Reports FCA
FCA has labeled crypto as the top sector for financial scam warnings in the UK. As of now, there...
Explore More
News
HEDA Calls for Professional Regulatory Bodies to Sanction Corruption Enablers
The Human and Environmental Development Agenda (HEDA), the leading civic society organization on ...
Explore More
News
Biden’s Administration Announces New Timeline for AML Initiative and Beneficial Ownership Rules
FACT’s anti-money laundering efforts are updated in the Biden Administration’s Spring 2023 Regula...
Explore More
News
Uber joins lawsuits to exempt itself from California law
California law effective from today, i.e. Jan 1 is all set to give equal protection to independen...
Explore More
News
Ireland’s Central Bank Found Gaps in Anti-Money Laundering Compliance Practices
Ireland’s Central bank has found that certain financial firms are lacking in regards to anti-mone...
Explore More
News
Hong Kong regulators looking into possible overcharging by brokers
HONG KONG – Hong Kong’s financial regulators announced on Monday that they would analyze th...
Explore More
News
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 ...
Explore More
News
EU Contemplates New Anti-Money Laundering Body in the Wake of Scandals
Brussels plans to pursue the strengthening of powers of the EU agencies to combat money launderin...
Explore More
News
Saudi Bank Warns Citizens Against Financial Fraud Schemes Circulating via Fake News Websites
The Saudi Ministry of Commerce is reiterating warnings about fake news websites looting people by...
Explore More
News
UAE Central Bank Issues AML/CFT Guidance For Exchange Houses
The Central Bank of UAE (CBUAE) has issued guidance for Licensed Exchange Houses (LEH), keeping F...
Explore More
News
Facebook’s Calibra rebrands to Novi wallet
Facebook subsidiary and Libra wallet provider Calibra, has recently been rebranded to Novi. The n...
Explore More
News
Sebi Releases New Anti-Money Laundering Guidelines
The capital markets regulatory authority, the Securities Exchange Board of India (Sebi), publishe...
Explore More