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Interpol Warns of the Rise in Romance Scams as Valentine’s Day Approaches
According to the Interpol, there is a new investment scam on the rise that is targeting the datin...
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EBA Issues Draft to Set up Central Database for AML and CFT
On December 20, 2021, the European Banking Authority (EBA) issued its draft Regulatory Technical ...
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SA Government Passes New Legislation to Avoid FATF Gray list
South African government has passed two crucial legislations to prevent potential greylisting by ...
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CBN Fines GTBank N128M for Failing to Meet AML and CTF Requirements
The Central Bank of Nigeria (CBN) has charged Guaranty Trust Bank (GTBank) with N128 million for ...
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Tesla CEO Elon Musk Accuses SEC of Leaking Information in Federal Investigation
Tesla CEO Elon Musk has accused the SEC of leaking information about a federal investigation as a...
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EU Endorses New Crypto Tax Data Sharing Rules
Strict obligations are set to be implemented in the EU’s digital assets industry. Tax authorities...
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FATF’s New Regulations Will Help Sanctions Find Russian Targets
The Financial Action Task Force’s drive to eliminate the anonymity of corporate beneficiaries mak...
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Swiss Regulator FINMA Issues DLT Act for Digital Securities Market
The Financial Market Supervisory Authority (FINMA) introduced regulatory amendments for digital s...
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Financial Watchdogs in South Korea Add Guidelines for Crypto Transactions
Financial Watchdogs in South Korea will now oversee the activities regarding crypto in the countr...
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European Commission to Negotiate Scope of NFTs & Private Wallets in Crypto Regulation
Members of the EU Parliament, the European Commission, and state representatives are all set to n...
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Scammers and Hackers Use Cloud Mining to Launder Cryptocurrencies
According to new research, the use of cloud mining methods to conceal crypto funds has intensifie...
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Canada’s MP Introduces Private Member’s Bill to Amend Criminal Code
The members of parliament of Simcoe North, including the deputy minister of finance, have introdu...
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Ghost Coin deployed as payment for vending machines in Hong Kong
Ghost Coin, the privacy coin headed by John McAfee, can now be installed in vending machines in H...
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Pandemic Fraud Crackdown: US Bank Employees Indicted Over Document Fraud
Bank employees and tax preparers fraudulently applied for $3M+ in pandemic relief loans through f...
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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...
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Ransomware attacks rise as criminals target remote working
Ransomware attacks are getting bigger and bolder at a time where many organisations are implement...
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UAE and UK Initiate Large-Scale Crackdowns Against Money Laundering
The UAE has set up an AML task force that is currently pursuing hundreds of cases, and Cambridges...
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E-krona – Rising Cashless Sweden Sights Virtual Currency
Less than 10% of all transactions are done with cash in Sweden, according to an analysis by its c...
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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...
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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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Central Bank of China Issues Warning of DC/EP Fraud
China’s Central bank, the People’s Bank of China along with two other regulatory authorities has ...
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Finance Minister Şimşek States Turkey will Devote Itself to the Prevention of Money Laundering
Deputy Treasury and Finance Minister Mehmet Şimşek stated that Türkiye would counter terrorist fi...
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FCA Issues Warning About 100+ Unregistered Crypto-asset Firms
111 unregistered crypto-asset firms are operating from the UK. FCA warns consumers, banks, and pa...
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Nordic Banks Ignored Money Laundering Red Flags for Years, Leaked Audits Reveal
The Organized Crime and Corruption Reporting Project (OCCRP) has revealed in an audit that Nordic...
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Philippines to Exit FATF Gray List Next Year, Says Governor BSP
Felipe M. Medalla, the governor of BSP, says that the Philippines have one year to exit the FATF ...
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EU Limits Use of Cash and Cryptocurrency to Curb Financial Fraud
The European Union (EU) has issued new measures to limit use of cash and cryptocurrencies to tack...
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Nigeria: Senate Bans Establishment and Operations of Shell Banks
The Senate is banning the establishment and operations of shell banks in Nigeria as an attempt to...
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Corrupt Countries Tend to Have a Higher Number of Crypto Users, Says IMF
A recent International Monetary Fund (IMF) study shows that counties that have more corruption ha...
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Binance Tightens KYC Verification to Meet Regulatory Compliance
Customers that fail to meet the new requirements will only be allowed to withdraw funds, close po...
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Saudi Central Bank Instruct Banks to Combat Financial Crimes
According to the Central Bank of Saudi Arab, the fraudulent operations are linked with the money ...
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Rapstar Captured for His Role in Wire Fraud Scheme
A famous rapper from Chicago with his crew members was caught and charged in court for using the ...
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Bank of Ghana Issues New Guidelines for AML and CTF
The Bank of Ghana (BOG) has introduced new directives on Anti Money Laundering/Combating the Fina...
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US Task Force Seizes Another Superyacht in the Battle Against Russian Oligarchs’ Corruption
A new US task force has partnered with the IRS and global entities to take down Russian oligarchs...
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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...
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UAE Struggles to Shade Off Grey-List Status as it Continues to Attract More Crypto Firms
The UAE is keen on regaining a good reputation by clearing its name from FATF’s grey list while t...
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Hong Kong Looking to Legitimize Crypto Trading for Retail Investors
The government of Hong Kong has been looking at whether to legitimize crypto trading for retail i...
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The third man involved in ID theft scheme and money laundering is sentenced to jail
Minnesota man among the three criminals involved ID theft scheme and money laundering has finally...
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Coronavirus affects challenger banks as app downloads decline
According to Finbold, top challenger banks in the United Kingdom have noticed a sudden decline in...
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Saudi Arabia Uncovers Massive Fraud worth SR11.5 Billion
Law enforcement authorities in Saudi Arabia arrested at least 32 suspects including businessmen, ...
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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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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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Hong Kong Customs Commissioner Urges to Enhance Supervision in Crypto Exchange
Hong Kong’s Commissioner of Customs and Excise, Louise Ho Pul-shan, has urged to enhance the secu...
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After China, Japanese Officials Considering to Introduce Digital Currency too
China has begun trials for its digital assets and issued 10 million yuan last week. The efforts o...
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China’s Central Bank Fines ICBC & Bank of Chongqing for AML Shortcomings
Chinese banks including industrial and commercial banks of Chongqing have been fined by regulator...
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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 Treasury Publishes National Risk Assessments for Financial Crimes
The US Treasury has published the 2022 National Risk Assessments (NRAs) on Money Laundering (NMLR...
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Australian Defense Department Hit by Ransomware Attack
Australian Defence Department has been hit by a ransomware attack. No information about former or...
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IMF Advocates CBDC and Global Crypto Regulations for Financial Stability
The new policies advocated by the IMF seek to minimize financial risks associated with the global...
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Credit Cards are Risky for Crypto Transactions, Says Taiwan’s Financial Watchdog
Credit cards should not be used for crypto-related transactions, as stated by Taiwan’s financial ...
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US Sanctions Crypto Mixer Sinbad Over Connections to North Korea
The FBI and the Dutch Financial Intelligence and Investigation Service have a crackdown on virtua...
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Crypto Services Approved Under AMLD5 Regulations by the Dutch Central Bank
De Nederlandsche Bank NV (DNB) has permitted AMDAX BV the Central Bank of Netherlands to operate ...
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Sri Lanka removed from the high-risk money-laundering list
COLOMBO – Sri Lanka was recently removed from the list of high-risk countries for money lau...
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Digital Currency ‘Sand Dollar’ Launched by the Bahamas
The Central Bank of the Bahamas (CBOB) has introduced a digital version of the Bahamian dollar, s...
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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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Two foreign nationals charged with Cryptocurrency laundering
The United States Department of Justice has charged two Chinese nationals with laundering $100 mi...
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Philippine Senator Files an Anti-Online Gambling Bill Aiming to Curb Financial Crimes
Philippine Senator Joel Villanueva filed a bill imposing a ban on online gambling to prevent fina...
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Phishing Scam affects thousands of Banking App users
Thousands of customers have been exploited by a fake mobile banking app. The customers were sent ...
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Hong Kong Customs Commissioner Urges to Enhance Supervision in Crypto Exchange
Hong Kong’s Commissioner of Customs and Excise, Louise Ho Pul-shan, has urged to enhance the secu...
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Emirates Delegation of Anti-Money Laundering and Counter-Terrorism Financing Visits US
The Emirates Executive Office of Money Laundering and Counter-Terrorism Financing visited Washing...
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Shufti is nominated for ‘Oustanding Product/ Service’
Global business excellence awards nominated Shufti for the category of outstanding product/ s...
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Netflix ‘Update your payment” phishing scam is bypassing email spam filters
Phishing scams are taking a new turn as more and more people are using streaming services during ...
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Reserve Bank of Zimbabwe Reveals Most Banks Lose Correspondent Deals Due to AML Non-compliance
The Reserve Bank of Zimbabwe (RBZ) Deputy Governor disclosed that most banks are losing clients d...
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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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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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LocalBitcoins Matching Exchange, Cited By U.S. In Bizlato Case, To Shut Down After 10 Years
LocalBitcoins, the crypto firm named by the US treasury in the Bizlato exchange case, has announc...
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FIU to Audit Crypto Exchanges, Aiming to Reduce Money Laundering
Financial Intelligence Unit under Financial Services Commission to audit Korea’s cryptocurrency e...
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FIU Highlights the Risks of Money Laundering in Estonia Due to VASPs
FIU has highlighted in its annual report the risk of money laundering and terrorist financing in ...
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MONEYVAL Urges Poland to Improve its AML/CFT Regulatory Framework
MONEYVAL has called upon Polish authorities to improve their regulatory framework and work on str...
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Swedbank Estonia Reports High-Risk Client for Laundering $2 Billion
Swedbank Estonia labeled one of its clients a “high-risk” company due to suspicious transactions ...
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BaFin Threatens Deutsche Bank of Fines Over Weak AML Controls
Germany’s Financial Watchdog BaFin is not satisfied with the efforts of Deutsche Bank AG to contr...
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BaFin Imposes $10M Fine on Deutsche Bank for Euribor Control Failing
Deutsche Bank faces challenges as BaFin imposes a 10-million dollar fine for Euribor control fail...
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South Korea to Penalize the Non-Compliant Crypto Companies
Financial watchdogs in South Korea have announced regulations to prevent financial crimes in the ...
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