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Shufti Bagged “Product Leader” Award with 92% Customer Satisfaction
Shufti, an AI-powered identity verification services provider has won the Product Leader 2020...
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‘Money Laundering risk is higher in banks in Mexico than crypto firms’, says FIU report
According to the new report generated by the country’s financial intelligence unit (FIU), the ban...
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The US and UK Strengthen Ties Regarding Crypto Regulations, Says British Regulator
The Top British regulator FCA reported that the US and UK are strengthening ties on crypto regula...
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Vending machines can now be operated with Bitcoins
Vending machines used by key Asia-Pacific soft-drink bottler and distributor Coca-Cola Amatil wil...
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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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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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Danske Bank Expecting Huge Profit Rebound as Money Laundering Case Ends
Danske Bank expects a massive rebound in earnings this year, 2023, after the closure of the money...
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Natwest Caps Transfer Limit to Binance Over Fraud Concerns
Natwest bank is scrutinizing cryptocurrency transactions, including Binance transactions, due to ...
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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 ...
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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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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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FCA Reviews UK Small Trade Finance Lenders to Ensure Compliance
FCA is reviewing UK’s small trade finance lenders to assess their due diligence, risk assessment,...
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Shufti Bagged “Product Leader” Award with 92% Customer Satisfaction
Shufti, an AI-powered identity verification services provider has won the Product Leader 2020...
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Americans ‘work from home’ strategy present new targets for hackers
Coronavirus outbreak has forced organizations to let their employees work from home during the ou...
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Updated Crypto AML Rule in South Korea Set to Take Effect from 25th March
South Korea’s official financial regulatory body, the Financial Services Commission (FSC), announ...
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Nigeria Remains on FATF Gray List Due to Compliance Failures
Nigeria failed to pass a full-scale AML system review conducted by the global regulatory authorit...
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UAE to Issue Federal Licenses to VASPs in Efforts to Embrace Crypto
The UAE is gearing up to issue federal licenses to virtual asset providers (VASPs) within a matte...
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US Court Declares Bitcoin and ETH as Commodities, Dismissing Uniswap Lawsuit
A US court dismissed the Security Exchange Commission (SEC) lawsuit against the Uniswap protocols...
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US Attorneys Probe into Binance Money Laundering Violations
US federal prosecutors have reportedly issued subpoenas to several hedge funds connected with Bin...
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Sri Lankan Regulatory Authorities Enforce AML/CFT Measures to Avoid FATF Grey and Black List
The Financial Action Task Force (FATF) started cracking down on Sri Lanka’s financial institutes ...
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FSA Imposed £247,324 Fine on Standard Bank for “Serious Regulatory Failings”
The Isle of Man Financial Services Authority (IOMFSA) has imposed EUR 247,324 fine on Standard Li...
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Macau Police Arrests Cross-border Money Laundering Group for Illicit Financing of HK1.1 Billion
A group of 22 individuals were arrested by authorities in Macau and HK for suspicions of being in...
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EMLCU Reviews Egypts Efforts to Fight Financial Crime
Chairman of EMLCU (Egyptian Money Laundering and Terrorist Financing Combating Unit) Ahmed Saeed ...
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Four Biggest Irish Banks Join Forces for Enhanced Security Measures
Four biggest banks in Ireland, AIB, Bank of Ireland, PTSB, and KBC, have collaborated on the meas...
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House Bill Passed in Philippine to Enforce AML LAW
House of Representatives has approved legal amendments to regulate the developers, metal dealers,...
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Roll-out of vital banking fraud check postponed again due to Coronavirus
A crucial banking security check that could avert the loss of millions of pounds to internet frau...
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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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EU Takes First Step to Set Up Anti-Money Laundering Supervisor
The European Union should contemplate creating an independent agency to supervise anti-money laun...
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HSBC Bank SMS Phishing Scam Targets UK Victims
A new phishing scam, designed to lure victims into handing over their HSBC bank account details, ...
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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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Black Friday Shoppers Alert: Digital Scam Victims Lose an Average of £1,000 Each
Black Friday shoppers have been advised to strengthen their cybersecurity as NFIB revealed that v...
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DBS Bank in Singapore Entering the Crypto Sector with Three New Offerings
Singapore’s largest commercial and retail bank, DBS, is likely to enter the cryptocurrency sector...
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South Africa Must Fix Holes in Money Laundering Regulation by 2025, Warns FATF
South Africa needs to improve its Anti-Money Laundering and Counter-Terrorist Financing regulatio...
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Banks Introduce Confirmation of Payee to Tackle Fraud
The Confirmation of Payee (CoP) system was launched in October 2018 but implementation was delaye...
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Action Fraud Fund Report Exposes Billion-dollar Cryptocurrency Scams
The Action Fraud Fund report exposes the extent of cryptocurrency fraud and Ponzi schemes circula...
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IMF Urges Philippines to Enhance AML Measures to be Removed from Grey List
The International Monetary Fund (IMF) stated that the Philippines government should adopt an enha...
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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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UAE Issues Guidance to Registered Unlicensed Crypto Firms
UAE’s regulatory authorities stated all unlicensed Virtual Service Providers (VASPs) companies wi...
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U.S. Takes the Lead in Combating Illegal Financial Activities Through Updated AML Timelines
The Biden Administration released a new fact sheet highlighting the administration’s progre...
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TSB Fined $3.5M on Account of Four AML Breaches
New Zealand’s High Court has fined Trustee Savings Bank (TSB) Ltd NZD 3.5 million following the b...
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Increasing Money Laundering Fines for Banks After Lockdown
Despite the delays in enforcement activities due to lockdown, the globally issued money launderin...
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Japan Revises Six Laws to Tackle Money Laundering in Cryptocurrency
The Japanese government is pondering enacting a new law. The “bundling bill” proposed...
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Coinbase Attorney Urges SEC to Announce Crypto Rules
Coinbase’s attorney forced the Securities and Exchange Commission (SEC) to announce a trans...
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$8M seized, Four Arrested for Money Laundering Activities Across Sydney
The Sydney law enforcement authorities seized more than $8 million in cash and arrested four crim...
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Banks Warned about Cryptocurrency Risk Exposure by FinCEN Director
During a virtual anti-money laundering conference by ACAMS in Las Vegas earlier this week, FinCEN...
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South Korea Extends AML Compliance Deadline for Crypto Sector
The deadline has been extended to ensure regulators are able to process all the applications subm...
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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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Research for Implications of CBDC on the Rise in Australia
As of the November 2 announcement of the Reserve Bank of Australia, the country has partnered wit...
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Despite KYC, Dutch Central Bank Struggles over Crypto Ownership Records
Despite the strict measures for KYC requirements, the Central Bank of the Netherlands is still mu...
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US Government to Establish New Corporate Transparency Act Regulations to Verify UBOs
The US government is ready to change the process of reporting beneficial ownership. The final rul...
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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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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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KYC/AML and Sanctions fines reach $5.6 billion mid-year for global financial institutions
The leading provider of digital transformation and client lifecycle management (CLM) solution, Fe...
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Dubai KYC consortium to enhance UAE bank profits
According to Moody’s Investors Service, the recently formed Know Your Customer (KYC) consortium i...
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Swedish Gaming Authority Fines Kindred, ATG, and PinBet for AML Failures
Swedish gaming authority has fined Kindred, ATG, and PinBet £1.4m, €1.7m, and $1.8m, respectively...
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Star Casino’s Share Tumbles 21% Following Money Laundering Allegations
Individuals banned from gambling at the Star casino in Sydney had been permitted to gamble at Sta...
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The Czech Republic Government Amends Beneficial Ownership Law to Meet AML Obligations
The Czech Republic government revised Beneficial Ownership Law upon the European Commission’...
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HKMA Reveals Phishing Fraud Went Up by 145% in 2021
Statistics revealed by HKMA show that phishing fraud rose by 145% in the first half of 2021.
Hon...
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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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Guyana Joins Sister Caribbean Countries to Stop Money Laundering
“Guyana has joined the Caribbean network to counter money laundering and introduced a global fina...
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EUR 27 Million Worth Crypto Assets Seized by the NCA in Money Laundering Crackdown
NCA seizes crypto assets worth £27m last year in a major money laundering crackdown
Although inst...
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FirstBank of Nigeria Continues Commitment to Combating Money Laundering
Chief Executive Officer of the First Bank Group of Nigeria Limited, Dr. Adesola Adeduntan, noted ...
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Surging Cryptocurrency Scams Target Lower Mainland Seniors
CARP of South Surrey/White Rock has found that the surge in cryptocurrency scams are a threat to ...
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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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Paramount and Forever 21 Data Breach Exposes Thousands of Customer’s Personal Details
The significant media house Paramount Global and the renowned fashion supplier, Forever 21, have ...
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New RBI Guideline: Must Perform Due Diligence for Crypto Transactions
In the latest banking news in India, notable banks were found to have cautioned their customers a...
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Swiss Government Gears Up to Establish a Central Registry for Beneficial Ownership
The Swiss government plans to set up a central registry for beneficial ownership, a step that ind...
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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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New fake ad alert system launched to fight online scams
According to ITV, the UK Scam Ad Alert tool – developed by the Advertising Standards Authority (A...
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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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Delta county bank president guilty of bank fraud
SHERMAN Texas – According to U.S. Attorney Stephen J. Cox, A 57-year-old former bank presid...
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Australian Bank, Westpac, Accused of 23 Million Money Laundering Breaches
Australia’s financial intelligence agency, The Australian Transaction Reports and Analysis Centre...
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