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ASIC Expands its Team to Enhance Cryptocurrency Regulations
Australia’s financial regulator has enhanced the size of its crypto team. The crypto regula...
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Financial Watchdogs in South Korea Add Guidelines for Crypto Transactions
Financial Watchdogs in South Korea will now oversee the activities regarding crypto in the countr...
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Hong Kong Arrests 13 in HK$53 million Money Laundering Case
13 people in Hong Kong have been arrested for money laundering and operating illegal gambling sit...
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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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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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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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UAE police show how fraudsters can access your bank account
Abu Dhabi Police has alerted people against the download of unknown apps so they can secure their...
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US Launches First Criminal Prosecution for Alleged Cryptocurrency Sanctions Case
Criminal charges are issued by the US Justice Department for the first time for transmitting more...
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Guyana Joins Sister Caribbean Countries to Stop Money Laundering
“Guyana has joined the Caribbean network to counter money laundering and introduced a global fina...
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SEC Warns Wall Street to Enhance AML Systems
US regulatory authority, the Security and Exchange Commission (SEC), warns Wall Street brokers of...
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Caterina Giorgi Demands Age Verification Laws for Online Alcohol Businesses
Caterina Giorgi, CEO of the Foundation for Alcohol Research and Education (FARE), has highlighted...
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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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DISA is Working on a Digital Identity, Credential, and Access Management Tool
According to Nextgov reports, the Defense Information System Agency (DISA) in the US has announce...
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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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Danish Gaming Regulator Sanctions Unibet Over AML Violations
Spillemyndigheden, the Danish Gaming Regulatory Authority has sanctioned Unibet for failing to co...
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ASIC Expands its Team to Enhance Cryptocurrency Regulations
Australia’s financial regulator has enhanced the size of its crypto team. The crypto regula...
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IMF Seeks Tighter Checks on Kenyan Banks Amid Money Laundering Concerns
The International Monetary Fund (IMF) is tightening the checks to prevent money laundering and wa...
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Interpol Calls for Global Action to Prevent “Ransomware Pandemic”
Interpol has called for united global action to be implemented against ransomware attacks, follow...
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Chinese Banks Promise To Step Up Cryptocurrency Ban
Some of the biggest banks in China have promised to refuse help to customers that trade with Bitc...
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Two Bank Workers Banned by Central Bank in the Philippines for Wirecard Fraud
Two bank workers, involved in issuing fake documents, have been banned by the Central Bank. The a...
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Money Laundering Becomes Another Cause of Poverty, Says UN
According to the latest UN’s report, over 10% of the world’s wealth could be hidden in overseas b...
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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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Optus Data Breach Leaves Millions of Australians at Risk of Identity Theft
The APF is investigating Optus’s data breach that involves millions of customers’ per...
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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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Central Banks of UAE and Saudi Arabia Released a Joint Report on CBDC
A joint report published by the central banks of UAE and Saudi Arabia, two countries with the mos...
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Dubai Court Sentences Gang of 18 for Charges of Money Laundering
The Dubai Criminal Court has convicted a gang of 18 individuals belonging to different countries ...
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Newsman arrested for credit card theft
A Newport Newsman was arrested due to credit card and identity theft allegations.
The arrest was...
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UK Exposed to Significant Trade-based Money Laundering Risks Post-Brexit
Risks related to trade-based money laundering in the UK are expected in the upcoming years, accor...
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Indian Brokers Under Investigation for Alleged Money Laundering and Identity Theft
Three of the most prominent brokers in the country have come under scrutiny from numerous regulat...
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Online Gaming Company Fined €386,000 for AML Failings
Online Amusement Solution Limited, a gaming company, was fined more than €386,000 by the FIAU for...
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Growing List of Countries are Introducing Regulations on Crypto
Ukraine’s Parliament officially adopted the Draft Law On Virtual Assets. Prior to this, cryptocur...
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US Crypto Firms Reluctant Towards New KYC/AML Proposal by FinCEN
The US crypto firm, Coinbase, sent a letter to FinCEN with a clear message, “There is no emergenc...
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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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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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Swiss Watchdog FINMA Mandates AML Policies on Crypto
The new legislation is trying to combat money-laundering following a series of major scandals in ...
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Joint ATO Operation Busts $137m Fraud Ring
The Australian Border Force (ABF) and the Serious Financial Crime Taskforce (SFCT) have jointly i...
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Kinahan Cartel Under Pressure as European Union Places UAE on ‘Blacklist’
The Kinahan Cartel is under great pressure after the European Union (EU) places the UAE on the ‘b...
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Tesla CEO Elon Musk Accuses SEC of Leaking Information in Federal Investigation
Tesla CEO Elon Musk has accused the SEC of leaking information about a federal investigation as a...
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Japan Remains Distrustful of Digital Yen Despite its CBDC Research
Japan’s Central Bank Launches research on the Central Bank Digital Currency but still remains uns...
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Japanese Gaming Giant Capcom Fell Victim to Cyberattacks
The famous gaming giant, Capcom, is being blackmailed by cyberattackers to pay $11 million bitcoi...
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UK’s FCA Warns Challenger Banks Over Inadequate AML Measures
The UK’s main financial regulator has warned challenger banks to improve measures for fighting fi...
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SriLankan Government to Enforce Money Laundering Law to Restrict Illicit Flow of Money
The current scenario of the Sri Lankan currency’s downfall has become a reason for money la...
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ICC Qatar is going to have a seminar on money laundering and terrorist financing
The International Chamber of Commerce (ICC) Qatar is conducting a compliance awareness seminar on...
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New Zealand to Update AML/CFT Regulation from 9 July 2021
Among other changes, reporting entities have been directed to conduct customer due diligence on n...
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FCA Fines TJM Partnership Limited £2 Million for Money Laundering
The Financial Conduct Authority has fined the investment firm TJM Partnership Limited £2m for ser...
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11 Jailed in Saudi Arabia for Laundering $2.7 Billion
Saudi Arabia has jailed and fined 11 individuals SR62.5 million for money laundering. The group l...
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European Commission Warns of Trade Laws Violation as EU Bans Tax-Haven Crypto Firms
The European Commission has issued a new warning on breaching global trade laws as the EU bans ta...
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Tech Analysts Say Elgin Data Breach May Prove “Devastating” for Those Vulnerable to Identity Fraud
Technology experts raise questions about the lack of transparency of the municipality in dealing ...
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Singapore’s Regulatory Authority Fines US$1.7M to Resorts World Sentosa for Due Diligence Failure
The gambling operator, Resorts World Sentosa (RWS), was fined by Singapore’s Gambling Regulatory ...
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UAE Arrests Gupta Brothers As Part of Efforts to Combat Money Laundering
The UAE has arrested the internationally wanted Gupta brothers who were charged for money launder...
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SuperCare Health Faces Lawsuit for Having “Incompetent Security Measures” to Stop Data Breach
Plaintiff filed a lawsuit against SuperCare Health in the US Central District of California and a...
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Libra taps another former FinCEN official as general counsel
Robert Werner, former director of FinCEN and OFAC regulatory authorities, has recently joined the...
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Australian Defense Department Hit by Ransomware Attack
Australian Defence Department has been hit by a ransomware attack. No information about former or...
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Indonesia to Pass Regulations to Control Money Laundering
Indonesia is looking to develop a strong regulatory framework to curb money laundering and terror...
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FCA Unveils Three-Year Anti-Money Laundering Strategy to Curb Financial Crime
The FCA unveiled in its new report a three-year anti-money laundering strategy which includes a n...
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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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House Bill Passed in Philippine to Enforce AML LAW
House of Representatives has approved legal amendments to regulate the developers, metal dealers,...
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NCA Seizes Gold Bars Worth £650,000 from Money Laundering Network
The National Crime Agency has found a forfeiture order for 15 gold bars that are worth £650,000. ...
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Malta Should Remain Vigilant Against Money Laundering, Says FATF President
FATF President Marcus Pleyer says that Malta must prioritise its fight against illicit financial...
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€18 Million of Illicit Cash Flows Undetected Across 25 EU States in Two Weeks
A major customs operation, BELENOS, by the French Customs authorities, has unveiled an illicit fl...
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U.S. SEC chair nominated to regulate crypto oversight
William Barr, United States Attorney General announced that President Trump is likely to task Jay...
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UK’s National Audit Claims FCA Takes Slow Crypto Enforcement Actions
The UK’s National Audit stated that the Financial Conduct Authority (FCA) has all the rights to c...
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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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FATF International Cooperation Review Group Meet in Mauritius to Discuss UAE’s Position on the Gray List
Despite ongoing financial crime, the US and several other Western countries have paid no heed to ...
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Crypto firms Halt Business in China After an Intense Government Crackdown
Cryptocurrency businesses have stopped their operations after the government led an intense inves...
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N26 Fined $5M by German Watchdog for Delayed SAR
German regulator BaFin imposes a hefty $5 million penalty on digital banking company, N26, for un...
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UAE Regulatory Authority Enforces Import Invoice Verification to Fight Trade-Based Money Laundering
United Arab Emirates (UAE) has implemented the latest compliance regulations for importing commod...
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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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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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Scammers Set to Defraud this Holiday Season, FBI Warns!
This holiday season, New Mexican shoppers are at risk of facing scammers. Criminals are all set t...
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FCA Declares £147m Fine on Credit Suisse for Due Diligence Failings
Credit Suisse was fined £147,190,200 for breaching FCA’s Principle 2 and 3 for Businesses as it f...
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House Bill Passed in Philippine to Enforce AML LAW
House of Representatives has approved legal amendments to regulate the developers, metal dealers,...
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