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Clearview AI will be facing the legal claims after critical NYT report
Clearview AI is an artificial intelligence firm providing facial recognition technology to US law...
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Effective Measures are Needed to Tackle Money Laundering and Terrorist Financing, Says EMLCU’s Head
The Union of Arab Banks arranged the three-day anti-money laundering and terrorist financing even...
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Singapore and Europe Enhance AML Framework to Fight Financial Crimes Effectively
Singapore and Europe have emerged with enhanced AML requirements for corporate services businesse...
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SFC Imposed a HK$9 Fine on RIFA Future for KYC Failings
RIFA Limited was charged by the domestic regulatory authority of Hong Kong, the Securities and Fu...
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Bitcoin scam exposes thousands to a data breach
Fraud websites have successfully stolen the personal records of a number of individuals from the ...
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Drug Trade Proceeds Laundered Through Digital Currency ATMs, Says DEA
According to the U.S Drug Enforcement Administration’s report, digital currency ATMs are growingl...
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BBB Warns About the Potential Scams Fuelled by the COVID Vaccine Passports
As people around the world are increasingly becoming vaccinated, the concern about the vaccine pa...
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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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Officials of 16 Countries Teamed Up for a Major Transnational Operation against Money Laundering
On October 15, Europol announced its successful operation against a renowned criminal group calle...
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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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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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Gamers Must Be Aware of long-Scale Click Fraud Campaign- Says Microsoft
Microsoft alerted gamers regarding wide-spreading click fraud. Cybersecurity personals said that ...
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With Rising Fintech Adoption, FI’s are Investing in AI for AML Compliance: Report
Reduced rates of false positives and the resulting decline in operational costs have caused an in...
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UAE central bank alerts about fraud attempts related to Coronavirus epidemic
Bank customers are warned of potential fraud by the UAE Central Bank. According to the bank, “Fra...
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UAE Confiscates Assets Worth $354 Million to Crack Down on Money Laundering
UAE stepped up and seized $354 million worth of assets from March to mid-July 2023 in the fight a...
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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...
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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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Better Business Bureau of North America Warns of Increased Scams & Fraud
On April 11, Marilyn Mott, director of the Better Business Bureau’s Prescott office, addressed a ...
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Gamers Must Be Aware of long-Scale Click Fraud Campaign- Says Microsoft
Microsoft alerted gamers regarding wide-spreading click fraud. Cybersecurity personals said that ...
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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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China Strides Forwards with New KYC Rules to Rein Money laundering
China is stepping up to fight its long-running battle against financial crimes such as money laun...
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Vietnam’s New Legislation on E-Transactions Will Take Effect on July 2024
The National Assembly of Vietnam passed the new e-Transaction law replacing the previous one, No....
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Swedish Biggest Bank Hosts Active Account for PKK Terrorist Group
According to a local media source, the most prominent Swedish bank, SEB (Skandinaviska Enskilda B...
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UAE Court Convicted 13 Indian Nationals and 7 Companies for Money Laundering Offenses
Thirteen Indian nationals and seven companies were charged with money laundering by the Abu Dhabi...
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B.C. Real Estate Company Fined $230K for Multiple AML Violations
Nu Stream Realty Inc. has been fined $230,423 for failure to comply with federal Anti-Money Laund...
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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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The Philippines Introduces Crypto Guidelines Against Financial Crimes
The Philippines Monetary Board (MB) has approved the guidelines regarding the virtual assets serv...
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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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FATF Urges Member Countries To Lead by Example in Implementing Travel Rule
The global financial watchdog FATF has urged countries to implement the travel rule in the legisl...
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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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Real Estate Firm LeHomes Realty Fined $282K for AML Compliance Failure
Real Estate Firm LeHomes Realty has been fined $282K for AML compliance failure. The brokerage co...
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Regulators Express Concerns on TD Bank’s AML Practices Leading to Merger Termination to Acquire First Horizon Bank
TD Bank was being examined by the Office of the Federal Reserve and the Comptroller of the Curren...
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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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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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MGA to Introduce Detailed Player Protection Guidelines for Responsible Gambling
Malta Gaming Authority is set to introduce player protection guidelines after being placed on the...
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African Federal Government Urges Collaboration to Combat Money Laundering and Terrorist Financing
The African Federal Government stressed the urgent teamwork needed to combat money laundering, te...
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Bank of Lithuania Open Probe on UK Fintech over Alleged Money Laundering
Bank of Lithuania is reportedly investigating UK fintech Railsr over Anti-Money Laundering and Co...
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New York Federal Reserve Sued by Puerto Rican Bank For Blocking Service in Venezuela
A Puerto Rican bank has sued the New York Federal Reserve on 25th July for suspending their acces...
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FATF Criticized Cash-Rich Germany Over Money Laundering Concerns
FATF dealt a blow to Germany’s reputation, which considered itself high regarding its reput...
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Crypto Exchange BKEX Freezes Withdrawals Under Money Laundering Investigation
BKEX withdrawals were suspended after funds on its platform were used to launder money, according...
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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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London has been Dubbed as a Money Laundering Base
The UK’s capital has been dubbed as a potential hotbed for organised crime, especially after Brex...
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Oman’s OCCI Says ‘Money Laundering in Real Estate Needs Monitoring’
Oman Chamber of Commerce and Industry (OCCI) has called for a review of the legislation that gove...
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Jamaican Senate Approves Order to Combat Money Laundering
The Jamaican Senate recently approved the Proceeds of Crime (DNFBPs)(TCSPs) Order, 2022, which is...
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US government favours a hands-off approach to AI’s regulation
The white house listed 10 principles that federal agencies should consider when drafting laws and...
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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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Argentina Proposes VASP Registry as Part of Updated AML Law
Argentina is preparing to update its AML and CTF law and has proposed to include a registry for v...
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Ontario’s Casinos Need to Strengthen Efforts to Curb Money Laundering
According to Auditor General Bonnie Lysyk, Ontario’s casinos need to strengthen efforts in order ...
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Moroccan Charity, Najiba Foundation, Faces Account Termination by ING Bank for AML Failures
Internationale Nederlanden Groep (ING) wants to terminate one of the largest Moroccan charity fou...
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$2 Trillion Moved and Now Banks Resist Money Laundering Orders
According to the ICIJ journalist, BuzzFeed shared some documents disclosing the attitude of finan...
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Texans to be Among the Most Affected Nations in Global Cybercrime Operation, Warns FBI
According to the Federal Bureau of Investigation (FBI), Texans are likely to be among nations tha...
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EU Fines Hungary for Declining to Lift Restrictions on Foreign Funded NGOs
European Union, in Brussels, took an important step to penalize Hungary for not lifting restricti...
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Transparency International Declares South Sudan Second Most Corrupt Country
In the East African region, South Sudan has been ranked as the most corrupt country in the world....
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Updated AML Regulation for Australian Digital Currency Exchange
The attorney-General proposed changes to AML/CTF frameworks in April 2023. The Australian Governm...
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Real Estate Money Laundering Rises, KCB Dragged to Court for AML Breach
Real Estate development and construction company Tirupati Development Limited has dragged KCB Ban...
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Silly Season Scams to Rise as AFP Forewarns Fake Delivery Texts
The Australian Federal Police (AFP) has warned of fake delivery texts. Scammers use legitimate-lo...
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SRA Fines a Law Firm £14,000 for Breaching ID Verification Regulation
A business organization is being penalized £14,000 by the Solicitors Regulation Authority (SRA) f...
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North Korean Hackers Attempt to Launder ETH Worth $27M from Harmony Bridge Attack
North Korean hackers behind the Harmony Bridge attack continue to attempt to launder crypto funds...
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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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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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US Authorities Seize Bahamas Bank for Laundering $58 Million
It’s rumoured that Deltec, a Bahamas-based bank popular with crypto clients, is linked to a...
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UAE banking sector unites with law enforcement agencies to tackle fraud
Dubai: UAE’s first national fraud awareness campaign has been initiated with the collaboration of...
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British Columbia Makes Regulatory Change to Combat Money Laundering
The British Columbia government is providing the gambling regulator of the province more independ...
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China plans on introducing digital yuan
China’s central bank has sent one of its strongest signals yet of a commitment to creating ...
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US Shows Conflicts with China at First Financial Meeting
In a recent financial working group meeting, the US Treasury raised disagreements with China, whe...
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Banks warned against profiteering from UK coronavirus crisis
British institutions, including banks, have been urged to avoid profiteering from the Coronavirus...
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CFTC Fines CHS Hedging for AML and Other Violations
The Commodity Futures Trading Commission (CFTC) has fined CHS Hedging a civil monetary penalty of...
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Central Banks of UAE and Saudi Arabia Released a Joint Report on CBDC
A joint report published by the central banks of UAE and Saudi Arabia, two countries with the mos...
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Nigeria’s Senate Passes Bill to Tighten Money Laundering Rules
Nigeria’s Senate has passed a bill that is aimed at improving the country’s money laundering regu...
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ICAIE Issues Report on Trade-Based Money Laundering in Free Trade Zones, Ports, & Safe Havens
The ICAIE released a new report called “The Dark Side of Illicit Economies and TBML: Free T...
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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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Crypto Mixers, Helix and Coin Ninja, Fined by FinCEN for Bank Secrecy Act Violation
Larry Dean Harmon, founder of Helix and Coin Ninja, has been fined $60 million for being involved...
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