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Brazil to Introduce Facial Recognition to Verify People Wearing Masks at Airports
Countries across the globe are taking necessary steps to introduce facial recognition at the airp...
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FATF Removes Cayman Islands and Panama From Increased AML Monitoring List
In the last plenary meeting of the Financial Action Task Force (FATF) on October 27th, the Cayman...
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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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U.S Congress Suspects the Use of Bitcoin to Fund Domestic Terrorism
U.S Congress subcommittee worries that Bitcoin might have been used in funding the Capitol revolt...
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Italian banking association ready to accept digital euro
The Italian Banking Association (ABI) has disclosed that it is willing to support the introductio...
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Ireland Campaigns to make Dublin the EU AML Authority Headquarter
A team was established in the Department of Finance by the Irish government to campaign for Dubli...
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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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OSCE – Eurasian Forum Combines to Counter Money Laundering and Terrorism Financing
The Organisation for Security and Co-operation in Europe (OSCE) supported the joint efforts with ...
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Egypt to Enact Updated AML Legislations and Develop Action Mechanisms to Curb Financial Crimes
Egyptian Money Laundering and Terrorist Financing Combating Unit (EMLCU) is all set to enact revi...
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UK Publishes First National Risk Assessment of Proliferation Financing
The UK is at a high risk of proliferation financing for Korea and Iran, while UK financial instit...
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Japan FSA, Central Bank to Assess FI’s AML, Anti-fraud Measures
Reports have revealed that Japan’s FSA and BOJ are seeking to better understand whether the curre...
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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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Cabinet Pressurizing BVI to Improve its Financial Laws
Many international financial regulatory bodies have pointed fingers at BVI’s financial service in...
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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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Oman’s CMA Initiates Efforts to Improve Anti-Money Laundering Measures
Oman’s Capital Market Authority is sharpening its focus on improving its anti-money laundering an...
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UK Government Aims to Recover £1 Billion Lost Funds Over the Next Decade
The UK Government has put technology as the front and centre force to fight crimes and reinforce ...
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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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UAE Central Bank Issues New AML/CFT Guidelines for Licensed Financial Institutions
CBUAE (Central Bank of UAE) has administered new AML/CFT guidance for Licensed Financial Institut...
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UAE’s AML Body Adopts Regulatory Framework for Virtual Assets
The new rule for virtual assets has been devised in accordance with the crypto travel rule issued...
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Biden Increases 50% Budget for FinCEN to Omit Financial Crimes
President Joe Biden of the USA is pushing a plan for a 50% increase in the budget set aside for t...
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US Crypto Industry Faces Pushback on Implementation of Crypto-Friendly Legislation
The US crypto firms visited Capitol Hill to push their industry-friendly regulations however, thi...
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Georgia’s Voting Infrastructure Becomes the First Ransomware Target in 2020 Elections
The US voting system was under a ransomware attack earlier in October. The rumours are true and G...
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New White House Standards Strategy May Affect Crypto Industry KYC Regulations
President Biden’s administration unveiled a national standards strategy on May 4, outlining eight...
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Austria- The Growing Hub of Cryptocurrency Approves 18 Operating License
Financial Supervisory Authority like FMA of Austria received requests from forty digital asset pr...
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Hong Kong Crypto Exchange Platform JPEX Involved in a $178M Fraud
Hong Kong Authorities claimed they received over 23,000 complaints against the Dubai-registered c...
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EU Parliament Approves More Stringent Rules to Combat Money Laundering and Terrorist Financing
The latest EU Parliament vote approves the formation of a new anti-money laundering authority and...
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United States Senate, UAE Government, and Spain Make Significant Efforts to Curb Money Laundering and Terrorist Financing Activities
United States Senate, UAE Government, and Spain Take effective measures to amend current Anti-Mon...
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Vietnam Enhances Anti-Money Laundering Laws to Prevent Financial Crimes
Vietnam regulatory departments are redefining their AML compliance measures to supervise cryptocu...
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Zoom improves user security by incorporating 2FA for all users
Zoom confirmed adding 2-factor authentication (2FA) for all the users of the platform. This marks...
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Falklands and Gibraltar Still on Spanish ‘Tax Haven’ List, Says Report
The official Spanish Gazette published a list which consists of Falklands/Malvinas and Gibraltar ...
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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...
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The Netherlands To House an EU-based Anti-Money Laundering Agency in the Hague
The Netherlands is aiming to create a new anti-money laundering agency with the principles of the...
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Monetary Authority of Singapore to Take Tougher Action Against Data Breaches
To address the data privacy concern, MAS has recommended that data privacy offences should be mad...
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Crypto Exchange Binance Banned by UK’s Financial Watchdog
Britain’s financial regulator, the FCA (Financial Conduct Authority) has said that Binance is no ...
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UK Amends Corporate Act to Combat Economic Crimes
The UK government reformed the Economic Crime and Corporate Transparency Act to expand regulation...
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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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The Netherlands To House an EU-based Anti-Money Laundering Agency in the Hague
The Netherlands is aiming to create a new anti-money laundering agency with the principles of the...
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The Chinese central bank confirms digital Yuan mobile app trials
According to a statement, the People’s Bank of China (PBoC) conducts internal tests for the natio...
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Singapore Central Bank to Utilize AI Technology to Combat Money Laundering
The Monetary Authority Singapore (MAS) seeks to utilise AI technology to bolster the security of ...
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Germany to Establish New Regulatory Body to Combat Money Laundering
It has been reported that the German government will create a new regulatory body to combat money...
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Americans Lose $3.82 Billion to Crypto and ‘Phantom Property’ Investment Scam
The American public is being alerted to the proliferation of fraudulent investment schemes. Crypt...
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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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Department of Justice Charges Russian Oligarch with Violating US Sanctions
The Justice Department reportedly charged a Russian oligarch with violating US sanctions and reve...
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Wealthy Americans Targeted by U.S. in Panama Tax-fraud Probe
Financial authorities in the US obtained a legal mandate to acquire information about wealthy cit...
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Prosecutors Raise Questions About KYC/AML Against Cryptocurrency Mixers
According to the prosecutors and financial regulators, cryptocurrency mixers are reportedly being...
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Art Dealers Urged to Intensify Regulatory Actions Against Money Launderers
The Department of Justice is establishing new rules to combat financial crimes via the art market...
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Cabinet Pressurizing BVI to Improve its Financial Laws
Many international financial regulatory bodies have pointed fingers at BVI’s financial service in...
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Deutsche Bank Subordinate DWS Fined $25 Million for AML Violations
In the latest enforcement action, the Security Exchange Commission (SEC) has fined $25 million to...
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Turkey to Ban Cryptocurrency Payments to Avoid Financial Crime
The Central Bank of Turkey is to ban the use of cryptocurrency payments by 30th April. This initi...
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US Set to Disclose New Real Estate Regulations to Combat Money Laundering
The US Treasury Department is ready to introduce rigid regulations to close security loopholes in...
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The Rise of FinTech Services can Spur Financial Risk: Says U.S. Bank Regulator
According to the US bank regulator, banks and the fintech alliance for a seamless customer experi...
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Instagram is Adding Age Verification to Protect Minors
Instagram is adding age verification in order to provide a safer online community to the minors. ...
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Qatar Takes Steps to Strengthen its AML/CFT and Sanctions Compliance
A webinar organised by ICC Qatar emphasised the efforts of Qatar to strengthen its AML/CFT and sa...
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Crime on the Rise, Mutual Fund Investments Need KYC
Know Your Customer (KYC) is to be implemented on all financial market-related investments. In ord...
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Kenya’s High Court Freezes Sh15 Billion Over Suspected Crime and Money Laundering
The High Court of Kenya has frozen more than Sh15 billion over suspected proceeds of Money Launde...
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Deepfakes on TikTok raise new security concerns
Deepfakes have started showing up on the popular video app TikTok, owned by ByteDance, a Chinese ...
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The Bahamas to Launch a Payment Card for Central Bank Digital Currency
Bahamas’ Central Bank has joined hands with Mastercard and digital payment startup Island Pay to ...
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Lawrence man indicted of identity theft found guilty
BOSTON (AP) — A man charged with using another person’s Social Security number to illegally obtai...
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The Bicycle Hotel & Casino Fined $500K For Violating AML Laws
The Bicycle Hotel and Casino will be paying $500K in fine as it failed to report Currency Transac...
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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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Data Security at Risk Due to the Fake Lending Apps
Gained network access, pictures, and contact information are at threat due to the fake lending ap...
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NSW Make Reforms to Counter Money Laundering and Gambling
The New South Wales government embraces new reforms to counter the issue of money laundering and ...
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Kuwait Bans Crypto-Related Activities to Combat Money Laundering
The government of Kuwait banned all crypto-related activities on July 18th, including mining, tra...
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UAE Receives Observer Status at APG For Money Laundering
UAE becomes the first Arab country receive an observer status at the Asia/Pacific Group of Money ...
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UK FCA Orders Illegal Crypto Service Providers to Shut Down ATMs
The UK’s Financial Conduct Authority has ordered crypto firms operating illegally in the country ...
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Hong Kong Police Seizes $65 Million From Triad Controlled Money Laundering Ring
Hong Kong police detained 458 people and seized $65 million in connection with an extensive crim...
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FinCEN May Release a YouTube Video to Outreach Latest BOI Rules
The Financial Crimes Enforcement Network (FinCEN) director stated they are creating awareness cam...
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UK Fraud Agency Warns Money Launderers are Targeting Under-21s
Cifas recently reported an economic downturn allows fraudsters to target young people, under 21, ...
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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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Shufti’s Age Verification Solution Approved by KJM
Germany’s Commission for media, Kommission für Jugendmedienschutz (KJM), has approved Shufti’...
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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...
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West Midlands Lose Approximately £8 Million to Employee Fraud in 2022
Business advisors RSM UK has revealed West Midlands as a hotspot for employee fraud. The region h...
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