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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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Norway to Revive Travel by Introducing Vaccine Passports
By the Summer of 2021, Norway plans to revive travel to and from the country as it joins the list...
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FCA Fines Santander and Metro Bank for AML Compliance Gaps
The financial market regulator FCA has found compliance gaps in Anti Money Laundering (AML) syste...
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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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UAE to Demonstrate Effective Financial Crime Prevention to be Removed From FATF Gray List
The economic secretary of the UK recently stated (April 25th, 2023) that the United Arab Emirates...
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Cybercrimes in UK have ‘doubled’ in past five years
Large businesses remain most at target but SMBs have seen the steepest rise in successful cyber a...
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SEC Strengthens the Scrutiny on Money Laundering Activities in Malaya
SEC (Securities and Exchange Commission) said financial institutions and lenders are now obligate...
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UK Customers Losse £580m to Identity Scammers in First Half of 2023
UK Finance disclosed that identity theft is a proliferating scam, and they recorded 1.4m fraud ca...
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Shufti beats 26 global competitors in the Video KYC challenge at MEFTECH KSA
Yesterday, February 26, Shufti was announced the winner of the Lulu money’s Video KYC for Cus...
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UAE Adopts Facial Recognition for ID Verification Instead of Emirates ID Card Readers
Facial recognition instead of Emirates ID card readers will now verify identity.
The Federal Auth...
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The Biggest Theft in Crypto History: $600 Million Stolen
Binance and Tether have also joined the recovery plan to help minimize the consequences of the at...
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Canada’s Real Estate a Safe Haven for Money Laundering, Confirms Intel
Intel has confirmed the findings of CISC’s report saying that Canadian real estate is a safe have...
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FATF Updates Guidance on Strengthening Beneficial Ownership Information
The Financial Action Task Force (FATF), in recommendation 24, established the first international...
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Liberian Ministers Allegedly Laundering Money Using Foreign Lobbying Contracts, Investigation Reveals
Liberia, one of the poorest countries in the world, is said to spend an enormous and highly suspi...
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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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FATF Warns Many Countries Continue to Face Challenges in Meeting Virtual Asset Regulations
Approximately 75% of FATF member countries fail to adhere to or only partially comply with Recomm...
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PCMLTFA Update: FINTRAC Announces Flexible Compliance Approach
On May 28, 2021, FINTRAC announced changes in Canada’s anti-money laundering regime under t...
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NY’s Attorney General Warns the Crypto Industry Against Illicit Activities
Letitia James, Newyork’s Attorney General, has sent a clear message to the entire crypto industry...
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Six Men Arrested in Hong Kong for US$22.4 Million in Fraud
Hong Kong police crackdown on a crime syndicate and arrest six people involved in money launderin...
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Westpac CEO Brian Hertzer Resigns Amid Money-Laundering Scandal
The chief executive of Westpac Banking Corporation, Brian Hartzer, has resigned and the chairman ...
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Cyprus Aligns with EU Regulations by Adopting Strong AML/CFT Measures
Cyprus has established a new digital registry and requires the businesses to identify their true ...
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Another Step Taken by the EU to Harmonize AML Rules
The European Banking Authority has proposed new guidance for compliance officers. The attempt is ...
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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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Nigeria’s EFCC Devoted to Combating Money Laundering in Real Estate Sector
The Economic and Financial Crimes Commission chairman says that the agency is committed to fighti...
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Japan: FSA Sets a Firm Deadline For FI to Ensure Full AML/CFT Compliance
Japan’s Financial Services Agency (FSA) has strictly directed financial institutions to devise a ...
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American Gaming Association Updates Best Practices for AML
The American Gaming Association (AGA) has released updated “Best Practices for Anti-Money Launder...
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FCA Fines Gatehouse Bank £1.58mn for Breaching Money Laundering Regulations
The Financial Conduct Authority (FCA) has fined Gatehouse Bank £1.58 million. The regulator disco...
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eCommerce Lost £16 Million in Frauds During Lockdown
The UK’s national reporting centre for fraud and cybercrime has revealed new figures which show £...
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Europol Arrests 106 Suspects in Money Laundering, Online Fraud Case
The organised crime operation involved phishing scams and numerous business email compromise atta...
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FCA Fines £642K to Sunrise Brokers for AML Failings
FCA imposed a £642K fine on Sunrise broker for facilitating fraudster trading and having an inade...
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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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US Federal Reserve Fines Deutsche Bank $186 Million for Anti-Money Laundering Failures
The Federal Reserve announced on July 20th that it had fined Deutsche Bank (DBKGn.DE) and some of...
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Luxembourg Updates AML Laws for Verification of Beneficial Ownership
Luxembourg has amended its Anti-Money Laundering regulation requiring practitioners to identify b...
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UK’s Financial Watchdog Goes Real-time to Catch Online Criminals
The FCA is sweeping the internet on a day-to-day basis to pull out cybercriminals, as the number ...
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SMS Phishing Scams are Impersonating State Agencies – FTC Warns
FTC issues warning against SMS phishing attacks that are impersonating state workforce agencies t...
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FCA Fines Nigeria’s Guaranty Trust Bank Over AML Control Failures
The (FCA) Financial Conduct Authority has charged 7.6 million pounds ($9.3 million) to the UK sub...
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Rapstar Captured for His Role in Wire Fraud Scheme
A famous rapper from Chicago with his crew members was caught and charged in court for using the ...
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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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Data Breach Exposes 515,000 IDs, More Cases of Synthetic ID Fraud to be Expected?
Hackers broke into the servers at the International Committee of the Red Cross and accessed perso...
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Irish Police warns about the latest internet fraud
The local Irish police (Gardai) is persuading people not to fall prey to the recent online bankin...
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Rapstar Captured for His Role in Wire Fraud Scheme
A famous rapper from Chicago with his crew members was caught and charged in court for using the ...
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Dutch Authorities Seize $29 Million in Cryptocurrencies After Money Laundering Investigation
$29 million in crypto were seized over the last few months in money laundering investigations car...
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UAE Adopts Facial Recognition for ID Verification Instead of Emirates ID Card Readers
Facial recognition instead of Emirates ID card readers will now verify identity.
The Federal Auth...
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ML/TF Legislation for Art Industry Labeled ‘Damaging and Unjust’
Cinoa, the international art & antiques dealers’ association has issued an open letter signed...
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FATF Updates on South Africa’s AML Compliance Progress
A report on South Africa’s progress in implementing AML procedures to prevent money launder...
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Bill to Combat Money Laundering Makes Its Way Through The Senate
The US House of Representatives passed the Corporate Transparency Act of 2019 (HR 2513) on Octobe...
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Money Laundering Proceedings Against Pilatus Set Back Indefinitely
Money laundering proceedings against Pilatus Bank and its former top officials will likely be set...
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Belgian Banks to Establish a Platform to Reveal Anti-Money Laundering data
Belgium’s one of the leading bank chain has now suggested developing a platform that will allow p...
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Crypto Providers at Risk of Money Laundering & Terror Financing, Says FMA
The Crypto industry was rated high-risk in the latest sector risk assessment (SRA) of the FMA, wh...
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US Authorities Accuse Russian Oligarch of Money Laundering and Bank Fraud
US authorities have accused Russian oligarch Viktor Vekselberg of conspiring to launder money and...
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Economic & Financial Crime Bureau Gets Legal Powers as an Independent Authority
The Economic & Financial Crime Bureau and Financial Intelligence Unit [Bailiwick of Guernsey]...
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Following an FCA Crackdown, Cryptocurrency Investors to Wait 24 Hours Before Completing Their Transactions in the UK
The Financial Conduct Authority (FCA) crackdown forces new crypto investors in the UK to wait 24 ...
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New York’s Attorney General Bent on Shutting Fraudulent Crypto Platform
New York’s attorney general has filed a lawsuit against a cryptocurrency platform, known as Coins...
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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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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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China Warns of Money Laundering Risks Arising from NFTs
China has warned of the financial risks associated with non-fungible tokens (NFTs) as three indus...
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NGOs Advised on Due Diligence to Tackle Terrorism Financing
The Financial Crimes Commission’s SCUML has advised Non-Governmental Organizations (NGOs) to cond...
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Monetary Authority of Singapore (MAS) Fines Four Financial Institutions for Breaching AML Laws
A fine of S$3.8 million (Singapore dollar) was handed down by the Monetary Authority of Singapore...
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Austrac Warns of Money Laundering Risks Unless More Prosecutions are Conducted
Austrac has warned the law enforcement agencies in Australia that they must conduct more money la...
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Ex-Microsoft engineer accused of digital currency scam
Ukrainian citizen, Volodymyr Kvashuk, has been accused of six counts of money laundering, five of...
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Botswana Passes New Cryptocurrency Bill, Aiming to Curb Money Laundering
Another African country, Botswana has taken a significant step towards regulating cryptocurrency ...
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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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Pandora Papers Update: Offshore Havens and Money Laundering Scandals Exposed
The Pandora Papers expose 35 world leaders, 300 public officials and 100+ billionaires, thus prov...
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France to Test Digital Currency in the First Quarter of 2020
The digital currency race is building up and every country wants to take part in it. Now, Banque ...
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UAE Central Bank: AML Guidelines Issued for Licensed Financial Institutes
The UAE Central Bank has issued guidance for financial institutes to fight money laundering, terr...
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Russian Sanctions Put Switzerland in a Tough Spot Between Regulators and Oligarchs
Switzerland’s luxury sector is in a tough spot after Western countries have imposed sanctions aga...
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Swiss Govt. to Amend Banking Act for Press Freedom in Finance Sector
The Swiss Government has signaled to amend the banking act for press freedom in the finance secto...
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Cambodia and Thailand Police Forces Unite Against Money Laundering and Terrorist Financing
The Cambodian and Thailand National Police officers partner to bolster their strength against mon...
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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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Sri Lanka removed from the high-risk money-laundering list
COLOMBO – Sri Lanka was recently removed from the list of high-risk countries for money lau...
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Irish Police warns about the latest internet fraud
The local Irish police (Gardai) is persuading people not to fall prey to the recent online bankin...
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Financial Fraud Alerts in the UK are Most Prevalent in Crypto Firms, Reports FCA
FCA has labeled crypto as the top sector for financial scam warnings in the UK. As of now, there...
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