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California university pays a million-dollar crypto ransom
As per reports, the University of California reportedly paid a huge ransom of $1.14 million in cr...
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Cyprus Updates Money Laundering Measures to Supervise Crypto Platforms
Cyprus reshaped its anti-money laundering measures by amending the “Prevention and Suppression of...
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Canada Seeks to Digitize ID-Documents for Enhanced Security Measures
Canada, Ontario’s government is working towards digitizing the identity documents and seeks publi...
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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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One in Three Western Australians Experience Financial Frauds – Bankwest
Based on reports, every one in three residents of Western Australia has experienced financial abu...
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Illicit Betting Report by the UK’s Gambling Industry Misguided the Regulators
UK’s Gambling Firms are being accused of exaggerating the numbers on the black market betting rep...
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FATF Highlights “Important Progress” in Colombia’s Anti-Money Laundering Reforms
A follow-up report from FATF (Financial Action Task Force) reveals that Colombia has significantl...
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COVID-19 has Made Cybercrime More Structured
During the COVID-19 pandemic, there has been immense growth in the opportunities for cyber-relate...
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Largest Banking Cooperation in Columbia Busted for Violating Anti-money Laundering Regulations
Banco de Occidente, Columbia’s largest banking cooperation Grupo Aval owned by one of the richest...
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After China, Japanese Officials Considering to Introduce Digital Currency too
China has begun trials for its digital assets and issued 10 million yuan last week. The efforts o...
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Investment Scams Rising Through Fake Celebrity Endorsements
Financial fraud through celebrity endorsement is becoming a primary concern as one in six firms o...
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FinCEN Highlights That AML/CFT Regulation Requires Transformation to Fight Modern Crimes
The acting director of FinCEN has highlighted the fact that the existing AML/CFT regulatory frame...
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The Brussels Threatens Emirates with Sanctions for Illicit Financial Flow
Think tank has ranked emirates to be the top destination for illicit financial activities. Brusse...
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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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Switzerland Falls Behind in the Fight Against Money Laundering
The Parliament of Switzerland has voted against the requirement of performing due diligence on la...
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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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UK Cryptos Have Eight Months to Get their AML Measures In Order – FCA
UK – The Financial Conduct Authority (FCA) has pushed back the end date of crypto company’s...
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UAE: Virtual Asset Fraudsters to Face Imprisonment, Dh 1M Fine
Residents in the UAE have been advised to perform due diligence procedures prior to investing in ...
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Investment Scams Rising Through Fake Celebrity Endorsements
Financial fraud through celebrity endorsement is becoming a primary concern as one in six firms o...
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Danish Gaming Regulator to Support the Ministry of Justice’s National AML Strategy
Denmark promises to crackdown on money laundering activities across the nation with a new AML str...
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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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Archipelago Trading Fined $1.5 Million for SAR and AML Failings
The US Security and Exchange Commission (SEC) fined the Archipelago Trading company over the shor...
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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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AMLC Freezes Assets of 16 Groups Labeled as Terrorist Organizations
The Anti-Money Laundering Council in the Philippines has frozen the accounts of 16 organizations ...
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Mass Stablecoin Adoption Could Assist Financial Crime – Says FATF
FATF suggests nations and financial service providers should identify potential risks of cryptocu...
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Latvian State Police Bust a Major Money Laundering Ring
Latvian State Police has identified and busted a huge criminal gang involved in money laundering....
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FATF Examines Technology use in Making AML/CFT More Effective
FATF has recognized the importance of combining human input and manual review with automation for...
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Ukraine Issues 14 Million Biometric Passports
According to Ukrinform, more than 14 million biometric passports have been issued in Ukraine so f...
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IRS Highlights Potential Risk of Fraud in NFTs and Cryptocurrencies
IRS highlights Non-Fungible Token (NFTs) and crypto as the potential risk of financial crimes, in...
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Twitter Breach – Bitcoin Scams to the Next Level
A massive attack is reported on Twitter accounts of high-profile and well-recognized brands. Hack...
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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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UAE Extends the Deadline for DNFBPs to Register for AML Regulations
The Ministry of Economy (MoE) in Abu Dhabi has announced the deadline extension for the registrat...
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FinCEN Calls in Bankers to Assess AML/CFT Risks in DeFi
The Financial Crimes Enforcement Network (FinCEN) is focusing on DeFi oversight as government bod...
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Star Entertainment Group Experiences $1.26B Loss after Money Laundering Investigation
Star Entertainment Group experienced a major loss of $1.26 billion during the first half of 2023,...
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Switzerland Endorses Rigorous AML Measures
Switzerland has introduced new anti-money laundering regulations to bolster financial institutes&...
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Lawyers in Malta Lag Behind in Complying with AML Measures
Malta obliged the various sectors to comply with risk assessment measures. According to the Finan...
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FATF Member, Saudi Arabia, Winning the World Money Laundering Race
During a virtual meeting on Monday, the FATF supported Saudi Arabia to combat money laundering an...
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Increasing Incidents of Fraud Becoming a Threat to UK’s National Security: UK Finance
Automated systems prevented approximately 736 million pounds ($1 billion) from being stolen throu...
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Elon Musk proposes regulations on artificial intelligence
”Organizations developing artificial intelligence must be regulated”, says Elon Musk. This is not...
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France to Consider Amendment Obliging Crypto Firms to Obtain Licenses
In January 2023, the French Parliament will consider the amendment to cancel the favorable treatm...
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Ripple CEO urges US Regulators to embrace Crypto
Brad Garlinghouse, CEO Ripple has encouraged the US regulator “to step up and lean into digital c...
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FIAU Fines Crypto Firm €460,000 for Anti-Money Laundering Violations
FIAU (Financial Intelligence Analysis Unit) charged a crypto exchange and broker with a €463,235 ...
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Sam Bankman-Fried Charged with Fraud and Money Laundering, Makes Headlines Again
A federal indictment accusing FTX Co-Founder Sam Bankman-Fried of committing widespread fraud has...
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EU Parliament Reaches Provisional Agreement on Extending Rules for Crypto Assets
The Council Presidency has reached a provisional agreement with the EU Parliament regarding the r...
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Britain’s FCA Fines Ghanaian Bank for Insufficient AML Regulations
The Financial Conduct Authority of the UK has imposed fines of £5.8 million on Ghana Internationa...
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Jamaica Nears Full Compliance by Meeting 37 of 40 FATF Recommendations
Jamaica now complies with 37 out of 40 FATF recommendations for better prevention of financial cr...
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Mass Stablecoin Adoption Could Assist Financial Crime – Says FATF
FATF suggests nations and financial service providers should identify potential risks of cryptocu...
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RBI to Strengthen KYC Guidelines for the Crypto Industry
IndiaTech has suggested enhancing the KYC guidelines and obligating the cryptocurrency industry t...
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New York State Department Fines Robinhood $30m for Inadequate AML Compliance Measures
New York’s top financial regulator has fined Robinhood $30 million for failures and shortcomings ...
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Canada Seeks to Digitize ID-Documents for Enhanced Security Measures
Canada, Ontario’s government is working towards digitizing the identity documents and seeks publi...
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Medical Testing Postpones Money Launderer’s Sentencing
The conviction of Mark Scott, a licensed advocate involved in laundering $400 million for the unp...
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Despite the Concerns, Arizona Bans Vaccine Passports for Government
Governor of Arizona, Doug Ducey has restricted the local and state government agencies from askin...
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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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Binance Fined $3.4 million by Dutch Central Bank For Violating Regulatory Laws
The De Nederlandsche Bank (DNB) fined Binance with $3.4 million for failing to get regulatory ap...
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FBI Reveals North Korea’s Lazarus Group Involvement in $41 Million Stake Hack
US Federal Bureau Investigation (FBI) has revealed that the North Korean hacking group, Lazarus, ...
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AUSTRAC to Audit Three Bell Financial Group Entities to Evaluate AML/CFT Compliance
AUSTRAC has called for the audit of three entities under the Bell Financial Group, including Bell...
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UAE Central Bank Imposes Dh352k Fine on Currency Exchange
The Central Bank of the UAE has fined an exchange house with a total of Dh352,000 for shortcoming...
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Australian Banks Ban High-Risk Digital Currency Transactions
Australian banks, Bendigo and Adelaide, have banned high-risk digital transactions to protect the...
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Louisiana Approves First Regulation Requiring Age Verification to Access Pornography Sites
Louisiana’s House of Representatives passed the bill against age verification in the porn industr...
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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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China’s Financial Watchdogs All Set to Regulate FinTech Sector
China’s four years regime to clear all risks from the financial system have been extended to the ...
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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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China’s Top Leaders Indicate the Further Tightening of Financial Regulations
Chinese leaders have indicated that the country will move to further strengthening of financial r...
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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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Regulatory Authorities Fines TD Bank, Adelaide Casino, and SBI over $500 Million For AML Failings
International financial watchdogs have imposed a fine of over $500 million on TD Bank, Adelaide C...
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FinCEN to Expand GTOs on All-cash Real Estate Purchases to Stop Money Laundering
The Financial Crimes Enforcement Network (FinCEN) has announced the expansion of its GTOs. The ne...
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Nigerian House of Representatives Pledges Strict Regulations Against Money Laundering and Terrorism Financing
The Nigerian House of Representatives Committee on Financial Crimes stated they would design stri...
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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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7 UAE Law Firms Penalized in Anti-money Laundering Violations
Around 100,000 dirhams have been fined to 7 law firms in UAE for disregarding anti-money launderi...
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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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Regional Watchdog Assesses the AML Protocols Followed by Liberia to Fight Money Laundering
The Financial Intelligence Unit of Liberia has established the Inter-governmental Action Group Ag...
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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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