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MAS Rejects License Applications of 100 Crypto Exchanges for Ineffective CDD Protocols
Over 100 companies were either turned down or had to withdraw their applications for a license to...
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Lloyds Bank Charged with £500K Fine for Breach of Financial Regulatory Standards
Lloyds Bank corporate markets jersey received a fine of £498,000 in relation to the dealings with...
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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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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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e-KYC services introduced in Malaysia by InstaREM
Residents and expatriates in Malaysia can now make overseas payments safely and regularly through...
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FATF meeting scheduled to discuss VASPs compliance
The Financial Action Task Force (FATF) has scheduled a plenary meeting on June 24 to monitor the ...
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RICS Urges Firms to Adopt ‘Extremely Careful’ Due Diligence Measures
The RICS has issued a statement for its members urging them to adopt ‘extremely careful’ measures...
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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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Danske Bank Fined €1.82m Over AML and CTF Breaches
Danske Bank was accused of AML compliance failings and fined €1.82m by the Central Bank, revealin...
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Manchester Police Retrieves & Returns $23 Million Stolen Crypto Assets to Scam Victims
Manchester police have confiscated over $25 million worth of crypto that were stolen globally in ...
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Federal Prosecutors to End Criminal Investigations on Gambling Site ‘5Dimes’
5Dimes is a Costa Rica-based online gambling site that took bets from the US clients illegally. P...
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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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The UAE Hosts the Egmont Plenary to Promote Global Anti-Money Laundering Efforts
The UAE Financial Intelligence Unit is hosting this year’s Egmont Plenary event, which is e...
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New ultrasonic hack can manipulate your digital assistant
Researchers are advising consumers about a new type of hack that has recently emerged. It involve...
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Chinese Officials to Face Scrutiny Over their Financial Affairs in Hong Kong
Hong Kong’s banks will take extra measures to monitor transactions by Chinese politically connect...
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FATF Calls for Urgent Implementation of Crypto Information Sharing Mechanisms
FATF has published a report to call on the countries to the implementation of travel rules to und...
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Leaked Draft: EU Plans to Ban Privacy Enhancing Crypto Coins
CoinDesk has received a leaked draft of the money laundering bill, disclosing plans of the Europe...
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BSP Seeking to Mandate e-KYC For Financial Institutions
The draft circular suggests obligatory e-KYC processes, including identity verification and custo...
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Amendments to ‘Trust Property Control Act’ May Still Require Revisions
FISA (Fiduciary Institute of Southern Africa) and other notable trust law experts have expressed ...
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NAB Updating KYC Data of 9M Customers
Project Apollo has been initiated by NAB in an attempt to meet AML obligations.
In August 2021, ...
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Central Bank Of China Tightens Financial Regulations to Curb Money Laundering
The Central Bank of China is tightening financial regulation to put limits on transactions, aimin...
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FATF to Decide Grey Listing of South Africa
FATF will announce its decision regarding the greylisting of South Africa on 24th February 2023. ...
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The US publishes a list of North Korea’s supposed Crypto crimes
The US government, on Wednesday, outlined an aggressive set of countermeasures it said could hamp...
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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 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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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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Hong Kong’s New Crypto Regulations may Attract Web3 Firms Back
Hong Kong’s new proposed crypto regulation received Huobi Global’s, a Chinese crypto platform, pl...
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Colombian Financial Crime Unit Detects $20 Billion Potentially Linked to Money Laundering
Colombia’s Financial Crimes Unit has detected $20 billion in financial operations that are potent...
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Cloudflare Discloses Another huge DDoS Attack
Amid the COVID-19 outbreak, a surf in internet traffic can be seen and thus, an increase in cyber...
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US Ambassador Highlights how Liberia can Improve its AML/CFT Laws
Monrovian embassy of the United States’s ambassador, Micheal A. McCarthy, supports the National R...
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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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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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European Union Drafts Crypto Transfer Legislation to Curb Money Laundering
The European Union has introduced legislation to identify crypto transfers as part of wider anti-...
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US Treasury Official Urges Iraq’s Central Bank to Act Against Money Laundering
The US Treasury officials stated Iraq’s central bank should design new measures to combat the mis...
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China’s Central Bank Fines Zhongtian Securities $216k for AML Breaches
China’s Central bank has fined Zhongtian Securities Co. Ltd. 1.37 million yuan ($216,000) for AML...
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Hackers Leak Stolen Patient Data After Ransomware Attack on Medibank
Medibank has warned its customers to be extra cautious after hackers started disclosing private m...
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Central Bank of UAE Issues New AML Guidelines to Mitigate Payment Fraud Risks
The Central Bank of UAE has issued new anti-money laundering guidelines to prevent payment frauds...
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Hong Kong opens up its first online-only bank
According to reports, ZA Bank, the first online bank in Hong Kong, opened up on Tuesday (March 24...
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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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Financial Watchdogs in Thailand Issue Strict KYC for New Crypto Accounts
The government in Thailand plans to eliminate anonymity in the new crypto account creation by enf...
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Biden Going After Crypto Tax Evaders with Data Sharing Initiative
President Biden’s administration is proposing global cooperation to curb the threat of crypto-rel...
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Online fraud attempts increase during COVID-19 catastrophe
According to ACI Worldwide, the rate of fraud attempts have increased to 4.3% in April, slightly ...
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FEMA Confirms Seizure of 288 Crore Funds of Chinese-owned NBFC
The FEMA has confirmed the seizure of 288 crores worth of funds of a “Chinese-owned” ...
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Nepal Approves Anti-Money Laundering Bill to Comply with International Standards
Nepal endorsed an anti-money laundering bill as the initial step to combat financial crime and en...
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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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Philippines AMLC Releases New Study for Suspicious Transactions Linked to Casino Junkets
The Philippines AMLC has officially published the latest study on suspicious transactions linked ...
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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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US to Rigorously Implement Anti-Money Laundering in Crypto
A rule requiring cryptocurrency firms to share data about their customers will be strictly implem...
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National Assembly Passes Revised AML Law and Thrift Practice Resolution
The National Assembly (NA) has passed the revised law on Money Laundering Prevention and Control ...
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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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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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IMF Joins Hands with Philippines on Wholesale CBDC Project
IMF has announced the collaboration with BSP (Bangko Sentral ng Pilipinas) for the development of...
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Qatar’s new AML laws leave no room for Cryptocurrencies
A number of countries across the globe are coming with up stringent policies to inhibit the illeg...
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Southern District of New York Alleges Danske Bank against Serious AML Scandal
SDNY sentences Danske Bank with three years of probation on the tale of whistleblowing and mislea...
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MASAK to Investigate Short Video Hosting Platform, TikTok Over Money Laundering Allegations
MASAK is investigating the scammers involved in money laundering on TikTok. Over the serious alle...
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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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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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FinCEN Proposes Extension in Suspicious Activity Reporting Rules
The US Financial Crimes Enforcement Network (FinCEN) issued a Notice of Proposed Rulemaking (NPRM...
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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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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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South Africa Earmarked R265 Million to Get Off FATF’s Greylist
Finance Minister Enoch Godongwana announced on Tuesday that allocating R265 Million is one of sev...
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FCIU Uncovers Money Laundering Patterns Through Social Media Scams
South Yorkshire law enforcement authority has seized EUR 70,000 placed in the illicit gambling ac...
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Small Business Group Sues Treasury Department Over ‘Money Laundering Transparency Initiative’
A small business lobbying group has sued the Treasury Department over asking more than 30 million...
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PBOC Issues New Financial Rules to Curb Money Laundering Risks
The People’s Bank of China (PBOC), The China Banking and Insurance Regulatory Commission, a...
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Money Laundering in Ireland Skyrockets as Criminals Move Online
The cases of money laundering in Ireland has more than doubled last year and now it has spiked si...
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Turkey at Risk of Becoming a Haven for Russian Sanctions
Turkey is facing rising pressure for compliance with sanctions imposed on Russia and to increase ...
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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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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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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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Homeland Security expects to have biometric data on nearly 260 million people
The US Department of Homeland Security (DHS) will soon have face, fingerprint and iris scans of a...
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UK Government Issues New Guidance On Data Collection Related To Self Custody Crypto Wallets
The government of the United Kingdom is issuing new rules on the collection of data for the crypt...
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Saudi Bank Warns Citizens Against Financial Fraud Schemes Circulating via Fake News Websites
The Saudi Ministry of Commerce is reiterating warnings about fake news websites looting people by...
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