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UAE Charges Six Companies with Dh3.2 Million for AML/CTF Violations
The UAE has fined six companies Dh3.2 million for failing to comply with Anti-Money Laundering an...
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UAE Authorities to Coordinate Efforts Against ML/TF Among NPOs
The UAE’s Ministry of Community Development and the Financial Intelligence Unit have established ...
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South Korea Demands Crypto Exchange Data from Banks for Tighter Regulations
The financial regulators in South Korea are seeking crypto exchange data from the banks in order ...
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Lloyds Bank of UK Issues Warning Over Increasing Threat of Crypto Scams
Lloyds Bank revealed a rise in cryptocurrency investment scams and reported a 23% increase compar...
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FinTech Market Gaining Traction in Asia, Slowing Down in US
The Financial Technology (FinTech) market is booming in Asia, especially in China according to a ...
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China Makes Facial Recognition Mandatory For Smartphone Users
China is making it mandatory for all smartphone users who register new SIM cards to submit to fac...
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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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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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US Launches National Cryptocurrency Enforcement Team
The National Cryptocurrency Enforcement Team will aid the US Department of Justice (DOJ) in disma...
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New Zealand to Introduce Digital IDs to Foster Trust in Online Transactions
New Zealand is working towards a national law that would bring consistency to the country’s effor...
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United Nations Calls for a Pact to Fight Financial Crimes
United Nations’ panel of experts has called on the governments around the world to take part in e...
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Property Brokers in New Zealand Given Official Warning over AML/CFT Compliance
An eighty-branch real estate agency in New Zealand, Property Brokers, has received their first fo...
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Money Laundering Cases Doubled in the Past Six Years – Eurojust Report
Eurojust has recorded around 3000 cases of cross-border money laundering over the last six years....
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FinCEN Extends the Comment Period of Virtual Currency Regulations
FinCEN– Financial Crimes Enforcement has finally agreed to reopen the comment period of reg...
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Rules for AMLC Inquiry for Bank Accounts Released by the Court of Appeals (CA)
On Sunday, the Court of Appeals (CA) issued its rule of process for assessing the deposit or inve...
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Cyprus Makes Strides in Restoring its Reputation by Dealing with AML Concerns
According to the US Ambassador to Cyprus Judith Garber, Cyprus has shown progress in dealing with...
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Australian Gold Company, The Perth Mint, Accepts Voluntary Undertaking to Avoid AML Fines
The Australian gold corporation, the Perth Mint, escaped penalties for inadequate compliance syst...
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Poloniex Agrees to Pay $7.6M in Settlement of Sanctions Violations
In a settlement with the Office of Foreign Asset Control (OFAC), Poloniex LLC, a former subsidiar...
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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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FIAU Fines Maltese Investment Fund €300,000 for ‘disregard’ of AML Rules
The FIAU said that Southern Cross Sicav showed ‘disregard’ for its anti-money laundering obligati...
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Reddit follows Facebook suit and bans impersonation on its platform
Earlier this week, Facebook announced its new policy to ban manipulated pictures and videos known...
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Estonian Cryptocurrency Exchange charged for concealing hack
Crex24, an Estonian cryptocurrency exchange, is accused of hiding a hack from its customers after...
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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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Joint US-Spanish Operation Broke a Multi-Million Euro Credit Card Scam
The US Secret Service and Spanish police were working together on an operation when they shut dow...
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South Africa’s Addition to FATF Gray List Causes Unforeseen Repercussions on Tax Law Implementation
Tax Consulting SA’s report has revealed that greylisting has caused disquietude surrounding...
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Bahrain sentences three money-laundering suspects to prison
Bahrain fined three suspects of $9 million and sentenced them to prison in the Future Bank case. ...
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Wells Fargo Hit With $37M Fine Over Forex Fraud
Improper financial handling, defrauding others, and taking advantage of customers has become a no...
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“Pension Fraud Hits £1.8 Million so far in 2021”, National Reporting Centre
National Reporting Centre for fraud and cybercrime has reported £1.8 million has already been los...
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Shanghai police warn citizens to beware of online romance frauds
Shanghai police are warning people to be aware of Romantic Internet scams in which victims lose a...
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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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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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FATF encourages Digital ID during Coronavirus epidemic
The Financial Action Task Force (FAFT) is advocating the use of digital identity technology to se...
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Global OCR market expected to reach $70 billion by 2030
The global OCR market is expected to grow at the CAGR of 15% from 2020 to 2030, reaching USD 70 b...
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Irish Businessmen lost More than €10 Million in Invoice Redirect Fraud
Sophisticated invoice redirect fraud in Ireland has resulted in the loss of €10 Million for busin...
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UAE to Include Crypto Framework in their 2021 Business Agenda
The financial watchdogs in the UAE are looking towards developing a detailed crypto framework in ...
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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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UK Fines Dixons Carphone for Massive Breach
Dixons Carphone is one of the largest electronics and phone retailers in the UK. Recently British...
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Face Detection Tool to Fight Bots Under Trial by Facebook
Facebook is currently battling a $35 billion class-action lawsuit for alleged misuse of facial re...
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US Courtrooms Ponder Over the Photo ID Requirement for Voters
The US courtrooms are again facing the debate over the use of photo identification for voters. A ...
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German Customs to Strengthen Fight Against Organised Crime and Money Laundering
Christian Lindner, German Finance Minister, announced at the weekly cabinet meeting held at the C...
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Japanese financial watchdog frowns on gambling dapps
Regulators in Japan may be more likely to accept new digital currencies for trading if they have ...
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London’s Mayor Assures of the Strong Regulations Despite Brexit
Bankers in the UK are looking towards the leniency in regulations and tax cuts due to Brexit. How...
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FCA Probe into Barclays for Anti-Money Laundering Failings
The Financial Conduct Authority opened a probe into Barclays for suspected failings in compliance...
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Australia introduces new rules to tackle mobile identity theft
Acma (Australian Communications and Media Authority) has introduced a new regulation to fight ide...
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FCA Fines Bastion Capital For Serious AML Failings
The Financial Conduct Authority (FCA) has imposed a fine on Bastion Capital London for serious AM...
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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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FATF Points Out Jurisdictions with Inadequate AML/CFT Measures
After the Financial Action Task Force issued public statements regarding updates to its lists of ...
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Dubai Jails 9 and Fines Over Dh15 Million for Money Laundering
Dubai courts have issued prison sentences to 9 offenders for money laundering. The Emirates conti...
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South Africa links fintech startups with financial regulators
South Africa’s financial regulators have initiated the Inter-governmental Fintech Working Group (...
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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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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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US Army to Adopt Facial Recognition Technology for Securing Military Base
United States Army is looking to apply face recognition technology on their military base to imme...
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COVID-19: Banks and mobile companies join to block texting scams
The banking and mobile phone industries are declaring advancement in the face of a rise in so-cal...
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Online Gambling Operator Penalized Over Failure to Meet Anti-Money Laundering Regulations
Boylesports, an online gambling operation is facing £ 2.8 million in fines for violating the regu...
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Feds Bust Columbian Drug Cartel’s Scheme to Launder “Millions” Through US Banks
A Columbian drug cartel’s scheme was busted by the federal prosecutors who moved millions through...
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U.K Accelerates New Plans to Crack Down on Foreign Money Laundering Activities
The U.K plans to crack down on money laundering activities, legislate new laws to register foreig...
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Nevada Takes Measures to Combat Unemployment Insurance Fraud
District of Nevada’s Office of U.S Attorney has shown concerns about the rise in unemployment ins...
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Malta Faces 200% Spike in Money Laundering Cases
Financial Intelligence Analysis Unit (FIAU), Malta’s financial regulator, received a 200% increas...
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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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China Makes Facial Recognition Mandatory For Smartphone Users
China is making it mandatory for all smartphone users who register new SIM cards to submit to fac...
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GFI Study Reveals Weak AML/CFT Measures in Latin America and the Caribbean
The latest study by Global Financial Integrity (GFI) revealed that the Caribbean and Latin Americ...
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Fraudulent crypto exchange shut down by UK High Court
The UK High Court has designated the Official Receiver as liquidator of GPay Ltd, the cryptocurre...
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BC Money Laundering Inquiry Report Calls for New Law Enforcement Unit
BC has released a money laundering report that carries multiple recommendations and includes the ...
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UAE Issues Deadline for Businesses to Register for AML System
The Ministry of Economy has highlighted the businesses that must register for the AML system. All...
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Norway’s DNB is Facing a Possible Fine of $45M for Poor AML Compliance
Norway’s leading bank, DNB ASA, faces the possibility of a $45 million penalty for its inadequate...
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Founders of BitMEX Penalised for Their Inefficacy in Preventing Money Laundering
Arthur Hayes, Benjamin, Delo, and Samuel Reed – the co-founders of BitMEX charged for viola...
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President Biden Takes the Reins with Halting Digital Assets’ Rule Making
Regulatory proposal regarding digital assets has been frozen by President Joe Biden. Biden took h...
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Swiss Prosecutors Scrutinize Lebanon’s Central Bank for Money Laundering
Prosecutors in Switzerland are carrying out investigations from the British Virgin Islands to Gen...
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US Regulators to Sharpen AML Expectations For Crypto Sector
The US regulators are increasing the AML compliance expectations within the crypto sector to ensu...
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Online Gaming Used by Criminals to Groom Minors into Drug Mules
Criminal networks are now applying the use of online video game, Fortnite, to groom minors around...
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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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China Makes Facial Recognition Mandatory For Smartphone Users
China is making it mandatory for all smartphone users who register new SIM cards to submit to fac...
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