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Money Laundering Becomes Another Cause of Poverty, Says UN
According to the latest UN’s report, over 10% of the world’s wealth could be hidden in overseas b...
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Scottish Firm Blacklisted by the World Bank for Fraudulent Practices
An anonymously owned Scottish firm has been blacklisted by the World Bank for being involved in f...
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Singapore Seizes $2 Billion Worth of Assets in Money Laundering Investigation
Singaporean regulatory authorities officials accused lax immigration policies of large inflows of...
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US Attorney’s Office Charges New York’s Oldest Mafia Clans for Money Laundering Scheme
The US Attorney’s office has accused the two of New York’s oldest mafia clans for laundering mone...
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UAE Central Bank Imposes Financial Sanctions on Six Banks for CDD Failures
Six banks in the UAE have been issued financial sanctions by the UAE Central Bank for not complyi...
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Council of Europe Shows Support to Serbian Authorities For Combating Money Laundering
The Council of Europe stays dedicated to showing support to authorities for fighting money-launde...
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Economic uncertainty ‘a breeding ground for fraud and financial crime
The FATF has warned that the Coronavirus outbreak has caused unparalleled challenges in the econo...
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Philippines anti-money laundering council demands strict POGO regulations
The Philippines Anti-Money Laundering Council (AMLC) has advised of an “increasing level of threa...
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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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The UK Law Firms Approve the Use of AI in AML Armoury
The Legal Sector Affinity Group is the governing body of all the UK’s legal regulatory and repres...
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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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Economic uncertainty ‘a breeding ground for fraud and financial crime
The FATF has warned that the Coronavirus outbreak has caused unparalleled challenges in the econo...
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Estonian Government to Strengthen AML Framework to Lift Crypto Ban
The Estonian Finance Ministry drafted AML amendments that will affect virtual asset service provi...
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FATF Publishes 35 New Indicators Against Trade-based Money Laundering
Financial Action Task Force (FATF) and Egmont group has published a new report on risk-indicators...
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Local Election Officials’ Emails Could be at risk for phishing attempts
Cybersecurity firm Area 1 found 666 of 10,000 election workers used personal email accounts
Accor...
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Credit Suisse Settles French Tax Fraud & Money Laundering Probes for €238 Million
Credit Suisse accepted a settlement of 238 million euros to resolve a tax scam and money launderi...
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US Treasury Department Discloses Latest Beneficial Ownership Information (BOI) Guide
The Money Laundering Bureau of the US Treasury Department issued the latest guide to assist small...
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European Union to Propose Amendments in AML Package for Corporate Transparency
The European Parliament has proposed a series of amendments to the Anti Money Laundering (AML) pa...
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ACMA Introduces New Policies to Combat SIM-Swapping Scams at Telcos
New policies have been introduced by ACMA to prevent SIM-Swapping attack for Telcos to protect us...
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US Blocks Tornado Cash Investors for Money Laundering Risks & Links to Korean Hackers
The United States has frozen the assets of crypto investors from Tornado Cash Service, saying it ...
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New Study by NIST Reveals Biases in Facial Recognition Technology
The National Institute of Standards and Technology (NIST) recently did a study on the effects of ...
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SRA Fines Scarborough Law Firm for Long-term AML Compliance Failures
The Solicitors Regulation Authority (SRA) has fined Scarborough law firm Pinkney Grunwells Lawyer...
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Twitter Reveals Plans of Addressing Deepfakes
Last month, Twitter announced that it was working on plans to better handle the rising issues of ...
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FATF Highlights “Important Progress” in Colombia’s Anti-Money Laundering Reforms
A follow-up report from FATF (Financial Action Task Force) reveals that Colombia has significantl...
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Hong Kong to Implement Background Checks for Accounting Students
Police will carry out a detailed background check of the students that plan on pursuing accountin...
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UAE Central Bank to Take Action Against Unregistered Hawala Operators
From 2nd December 2020, the Central Bank in UAE will begin taking action against the unregistered...
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German Law Firm Denies Money Laundering Allegations Against Deutsche ReGas
Hengeler Mueller, a German law firm, investigated the loopholes in the Anti-Money Laundering (AML...
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IMF Urges Central Bank of Seychelles to Upgrade Transparency and AML Controls
The Central Bank of Seychelles (CBS) has been advised by the International Monetary Fund (IMF) to...
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USAA Fined $140 Million for Inadequate Anti-Money Laundering Measures
Two federal regulatory authorities have fined USAA a collective $140 million for failure to imple...
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Bank of Ghana to Introduce Digital Currency in ‘Near Future’
The Governor of the West African nation’s central bank, Ernest Addison, announced the news of Gha...
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UK’s Revised Fraud Policy Criticised for Ineffectiveness Against Rising Crimes
On Wednesday, Britain announced its strategy for reducing fraud by 10% by the end of the current ...
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Mishcon de Reya fined £232,500 for AML Failures
London’s leading firm, Mishcon De Reya has been fined EUR 232,500 over failing Anti-Money Launder...
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CBN, NFIU to Monitor Illicit Crypto Transactions in Centralized Exchanges
The CBN and NFIU have been urged to track illicit transactions in cryptocurrency by engaging with...
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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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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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China Makes Facial Recognition Mandatory For Smartphone Users
China is making it mandatory for all smartphone users who register new SIM cards to submit to fac...
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CBUAE Revokes Dollar Exchange’s Licence over Regulatory Misconduct
The UAE Central Bank has revoked the licence of a dollar exchange house after it failed to keep a...
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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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TRS Requires Trusts to Meet Anti-money Laundering and CTF Compliance.
As per the new UK government requirements, anti-money laundering and counter-terrorist financing ...
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Australian Police Launch Avarus, a Multi-task Force to fight Money Laundering
Australian Federal Police has set up a new multi-agency task force to fight prevailing financial ...
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FCA Declares £147m Fine on Credit Suisse for Due Diligence Failings
Credit Suisse was fined £147,190,200 for breaching FCA’s Principle 2 and 3 for Businesses as it f...
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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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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...
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EU to add Panama, Bahamas, and others to money-laundering blacklist
The European Commission has included Mauritius, Panama, and ten other states to its list of count...
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Criminal Group in KSA Jailed 24 Years Over Money Laundering Offence
Criminals in Saudi Arabia sentenced to 25 years imprisonment after getting caught in money launde...
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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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Brazil to Become a Part of OECD and Plans to Launch IPO for Its Digital Bank
During a virtual event on Tuesday, Paulo Guedes, Brazil’s Minister of Economy, announced that the...
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Morgan Stanley, Interactive Brokers Under Money Laundering Probe
The FBI, SEC, and other state agencies are now investigating why Morgan Stanley took on Rodriguez...
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FINRA Issues Guidelines Regarding Penalties for Anti-Money Laundering Violations
FINRA has issued its first-ever guidance to its member broker-dealers about the penalties that wi...
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US Banking Regulator Advises Federal Licensing Framework for Crypto Firms
Brian Brooks, Chief Operating Officer of the U.S. Office of the Comptroller of the Currency (OCC)...
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Cyprus Makes Progress in Implementing AML Measures
There has been “slight progress” made by Cyprus in implementing anti-money laundering measures, b...
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The Age Verification Software Market to Experience Tremendous Growth by 2025
The increasing number of scams in today’s virtual world needs a better verification system. Prote...
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US Banking Regulator Advises Federal Licensing Framework for Crypto Firms
Brian Brooks, Chief Operating Officer of the U.S. Office of the Comptroller of the Currency (OCC)...
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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...
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Manitoba Expands Criminal Property Forfeiture Branch to Counter Money Laundering
The Manitoba government is expanding the Criminal Property Forfeiture (CPF) branch as part of its...
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Binance in Trouble for Allegedly Aiding Money Laundering Worth $2.35 Billion
An inquiry into the world’s biggest crypto exchange Binance has revealed that it has aided money ...
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EU and British Financial Watchdogs to Investigate Digital Stock Tokens
The German and British regulators are reportedly investigating the stock token trading, recently ...
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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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Illicit Betting Report by the UK’s Gambling Industry Misguided the Regulators
UK’s Gambling Firms are being accused of exaggerating the numbers on the black market betting rep...
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Anti-Money Laundering Initiative in Ireland Extended to Bitcoin
Cryptocurrency buyers and sellers in Ireland, under the new anti-money laundering regime, will no...
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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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Interpol Calls for Global Action to Prevent “Ransomware Pandemic”
Interpol has called for united global action to be implemented against ransomware attacks, follow...
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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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Singapore Introduces Face Verification for National ID Service
Not just authentication, but facial verification is mandatory for anyone who is using the nationa...
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Fake Zoom Invite Collapsed Australian Hedge Fund with a CyberAttack
A fake zoom invite has taken out $8.7 million in fraudulent invoices by the trustee and administr...
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RBI Allows Multinational Banks to Retain Limited Data Abroad for AML Screening
KYC data can be retained in offshore bank branches for the purpose of sanctions and AML screening...
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FIU Imposes a Fine of L$21 Million on Insurance Companies for AML Failings
The Liberian financial intelligence unit (FIU) has imposed a L$21 million fine against all the in...
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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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Europe Bolsters Fight Against Financial Crime with AMLA Formation
The European Parliament (EP) and European Union (EU) council teams have agreed to create the Euro...
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Binance revokes Upbit hackers’ attempt to launder stolen funds
At just after 16:00 UTC Wednesday, bot Twitter account Whale Alert notified Binance – which has e...
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HKMA Issues Mandate to Encourage Innovation in AML/CFT
Hong Kong’s Monetary Authority is set to launch interactive lab sessions to experiment with innov...
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Spanish Regulatory Authorities Take Action Against Illegal Crypto Promotion on Social Media
The Spanish National Securities Market Commission (CNMV) is preparing rigid measures to prevent i...
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