The Top 10  Most Difficult Countries for Identity Verification

The Top 10  Most Difficult Countries for Identity Verification

Download Report

    n-img-roi-cross

    Before You Go, Schedule Your Free Demo Today

    Valid Invalid number


    Note: Fields marked with an asterisk(*) are mandatory.

    n-exit-img-roi-cross

    Thank you for your demo request

    We appreciate your interest and look forward to discussing how our solution can meet your needs. Expect to hear from us shortly with scheduling details.

    Close

    us

    3.227.157.6

    SEC Unfolds Strict Regulations to Prevent Financial Crimes in Stock Market

    stock market news image

    SEC (Securities Exchange Commission) is to implement tough regulations to prevent money laundering in the stock market. The new rules require transparency regarding the identity of the beneficial owners of shares. 

    These new regulations to prevent money laundering are included in SEC Memorandum Circular No. 1, Series of 2021, Guidelines in Preventing the Misuse of Corporations for Illicit Activities through Measures Designed to Promote Transparency of Beneficial Ownership.

    The measures include the compulsory revelation of the identity of the beneficial owners or the people who control the corporations. 

    SEC Chairman Emilio B. Aquino said, Arrangements that allow shareholders or members to hide their identity expose corporations to the risk of being misused for illicit activities such as money laundering and terrorist financing. The newly issued guidelines will provide the commission with adequate, accurate, and timely information to combat such unlawful activities while cementing our commitment to international standards and best practices against money laundering and terrorist financing.

    The regulations also state that no organization or firm is to issue, sell, or offer sale or distribution and warrants of the bearer shares as the identity of the owner is not recorded. The framework further obligates the organizations to reveal and record the alienation, transfer, and sale of the stock shares in their stock books within 30 days by date, by whom, and to whom.

    Dividends will not be paid to anyone if the name of the owner of the stock doesn’t appear in the records of the corporation. The only exceptions are the dividends that are paid by the public listed organizations or similar organizations that are authorized to act as custodian of shares with the intention of trading in the market and operating under the same rules. 

    FATF- Financial Action Task Force issued the Mutual Evaluation Report that contains the recommendations that these new regulations adopted.

    Related Posts

    News

    Anonymous Report Reveals Indian Indiscriminate Targeting Against NGOs

    According to the shadow report, India has been indiscriminately targeting non-governmental organi...

    Anonymous Report Reveals Indian Indiscriminate Targeting Against NGOs Explore More

    News

    US Authorities Impose Anti-Money Laundering Crackdown on Offshore Lenders

    The US Financial Crimes Enforcement Network (FinCEN) threatened offshore lenders with Anti-Money ...

    US Authorities Impose Anti-Money Laundering Crackdown on Offshore Lenders Explore More

    News

    FCA Reviews UK Small Trade Finance Lenders to Ensure Compliance

    FCA is reviewing UK’s small trade finance lenders to assess their due diligence, risk assessment,...

    FCA Reviews UK Small Trade Finance Lenders to Ensure Compliance Explore More

    News

    William Hill to Pay £19M for Social Responsibility and AML Failings

    The Gambling Commission has fined William Hill Group Businesses £19 million for failing to uphold...

    William Hill to Pay £19M for Social Responsibility and AML Failings Explore More

    News

    The Philippines Introduces Crypto Guidelines Against Financial Crimes

    The Philippines Monetary Board (MB) has approved the guidelines regarding the virtual assets serv...

    The Philippines Introduces Crypto Guidelines Against Financial Crimes Explore More

    News

    Blockchain Association States Senator Warren’s Crypto AML Bill is a Threat to the US

    The Blockchain Association has raised concerns about the recently proposed Digital Asset Anti-Mon...

    Blockchain Association States Senator Warren’s Crypto AML Bill is a Threat to the US Explore More

    News

    Bithumb, Coinone and Korbit Team Up for FATF Travel Rule Compliance

    Bithumb, Coinone and Korbit have founded a joint venture to facilitate all efforts for maintainin...

    Bithumb, Coinone and Korbit Team Up for FATF Travel Rule Compliance Explore More

    News

    Data Security at Risk Due to the Fake Lending Apps

    Gained network access, pictures, and contact information are at threat due to the fake lending ap...

    Data Security at Risk Due to the Fake Lending Apps Explore More

    News

    UAE central bank alerts about fraud attempts related to Coronavirus epidemic

    Bank customers are warned of potential fraud by the UAE Central Bank. According to the bank, “Fra...

    UAE central bank alerts about fraud attempts related to Coronavirus epidemic Explore More

    News

    New European Legislative Proposals to Transform the Digital Platforms

    A new act is proposed by the European Commission to enhance digital spaces. A new set of rules ha...

    New European Legislative Proposals to Transform the Digital Platforms Explore More

    News

    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...

    Kinahan Cartel Under Pressure as European Union Places UAE on ‘Blacklist’ Explore More

    News

    UK Parliament Legislates New Digital Identity Verification Services Bill

    On Wednesday, in the King’s Speech, the UK government presented a new Digital Identity Verificati...

    UK Parliament Legislates New Digital Identity Verification Services Bill Explore More

    News

    $2 Trillion Moved and Now Banks Resist Money Laundering Orders

    According to the ICIJ journalist, BuzzFeed shared some documents disclosing the attitude of finan...

    $2 Trillion Moved and Now Banks Resist Money Laundering Orders Explore More

    News

    Rise in Fraud from COVID-19 Bounce Back Loan Scheme

    Fraudsters are stealing the money around £400M from taxpayers in the UK through the support loans...

    Rise in Fraud from COVID-19 Bounce Back Loan Scheme Explore More

    News

    Namibia Enhances its National Crypto Strategy with New Legislation

    Namibia raises the bar with new legislation in the National Crypto Strategy to combat crypto scam...

    Namibia Enhances its National Crypto Strategy with New Legislation Explore More

    News

    The Philippines Introduces Crypto Guidelines Against Financial Crimes

    The Philippines Monetary Board (MB) has approved the guidelines regarding the virtual assets serv...

    The Philippines Introduces Crypto Guidelines Against Financial Crimes Explore More

    News

    UAE Imposes Fines Exceeding Dh115 Million to Combat Money Laundering in Q1 of 2023

    The UAE has imposed a monetary penalty of Dh115 million ($31.3M) in the first quarter (Q1) of 202...

    UAE Imposes Fines Exceeding Dh115 Million to Combat Money Laundering in Q1 of 2023 Explore More

    News

    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...

    Irish Businessmen lost More than €10 Million in Invoice Redirect Fraud Explore More

    News

    Kyrgyzstan to Regulate Cryptocurrency for it be Recognized Legally

    Central Bank in Kyrgyzstan has given out recommendations for regulating the crypto industry and g...

    Kyrgyzstan to Regulate Cryptocurrency for it be Recognized Legally Explore More

    News

    The UAE Central Bank Revokes Dirham Exchange’s Licence for AML Misconduct

    Dirham Exchange, an exchange house based in the UAE, has had its licence revoked by The UAE Centr...

    The UAE Central Bank Revokes Dirham Exchange’s Licence for AML Misconduct Explore More

    News

    Bipartisan Senators Propose Amendment of the National Defense Authorization Act to Prevent Crypto Money Laundering

    Bipartisan lawmakers in the US amended the obligations of anti-money laundering and updated the N...

    Bipartisan Senators Propose Amendment of the National Defense Authorization Act to Prevent Crypto Money Laundering Explore More

    News

    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....

    Money Laundering Cases Doubled in the Past Six Years – Eurojust Report Explore More

    News

    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...

    Money Laundering Becomes Another Cause of Poverty, Says UN Explore More

    News

    Texans to be Among the Most Affected Nations in Global Cybercrime Operation, Warns FBI

    According to the Federal Bureau of Investigation (FBI), Texans are likely to be among nations tha...

    Texans to be Among the Most Affected Nations in Global Cybercrime Operation, Warns FBI Explore More

    News

    SEC Files Money Laundering Complaint Against Silverlion

    The Security Exchange Commission (SEC) filed a case against Silverlion Livestock Trading Corporat...

    SEC Files Money Laundering Complaint Against Silverlion Explore More

    News

    UK to Regulate Stablecoins & Mint its Own NFTs to Become Global Crypto Hub

    The UK is reportedly planning to regulate stablecoins as a payment method and the Royal Mint is t...

    UK to Regulate Stablecoins & Mint its Own NFTs to Become Global Crypto Hub Explore More

    News

    Effective Measures are Needed to Tackle Money Laundering and Terrorist Financing, Says EMLCU’s Head

    The Union of Arab Banks arranged the three-day anti-money laundering and terrorist financing even...

    Effective Measures are Needed to Tackle Money Laundering and Terrorist Financing, Says EMLCU’s Head Explore More

    News

    UK Announces New Legislation to Regulate Crypto Assets Industry

    The UK’s government has developed its first legal framework for cryptocurrency trading and ...

    UK Announces New Legislation to Regulate Crypto Assets Industry Explore More

    News

    Namibia Launches Cyber Security Council to Curb e-Fraud

    Namibia has established a cyber security council that would act as a useful forum for discussions...

    Namibia Launches Cyber Security Council to Curb e-Fraud Explore More

    News

    ‘EU Has Fragmented Approach to Combat FinCrime’, Says ECA

    The European Court of Auditors (ECA) has identified weaknesses in the Anti-Money Laundering polic...

    ‘EU Has Fragmented Approach to Combat FinCrime’, Says ECA Explore More

    News

    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...

    UK’s FCA Warns Challenger Banks Over Inadequate AML Measures Explore More

    News

    E-krona – Rising Cashless Sweden Sights Virtual Currency

    Less than 10% of all transactions are done with cash in Sweden, according to an analysis by its c...

    E-krona – Rising Cashless Sweden Sights Virtual Currency Explore More

    News

    Russian Government to Fight Cybercrimes for Digital Economy

    A report by TASS news agency states that the Russian government plans to develop a center to figh...

    Russian Government to Fight Cybercrimes for Digital Economy Explore More

    News

    HKMA imposed a HK$6 million fine on Commerzbank for AML Failure

    HKMA imposed a HK$6 million fine on Commerzbank for anti-money laundering failure. The bank has b...

    HKMA imposed a HK$6 million fine on Commerzbank for AML Failure Explore More

    News

    US Attorneys Probe into Binance Money Laundering Violations

    US federal prosecutors have reportedly issued subpoenas to several hedge funds connected with Bin...

    US Attorneys Probe into Binance Money Laundering Violations Explore More

    News

    Toronto: 4 People Charged for Alleged Identity Theft and Fraud Worth Millions

    Toronto police seized millions of dollars, Porsche Panamera, and other identity details after a y...

    Toronto: 4 People Charged for Alleged Identity Theft and Fraud Worth Millions Explore More

    News

    UAE Struggles to Shade Off Grey-List Status as it Continues to Attract More Crypto Firms

    The UAE is keen on regaining a good reputation by clearing its name from FATF’s grey list while t...

    UAE Struggles to Shade Off Grey-List Status as it Continues to Attract More Crypto Firms Explore More

    News

    US Authorities Government Announce Limitations to Crypto Industry to Combat Money Laundering

    The US officials stated they will limit cryptocurrency firms’ operation in the country if t...

    US Authorities Government Announce Limitations to Crypto Industry to Combat Money Laundering Explore More

    News

    Swiss Court Seeks $45m Compensation in Credit Suisse Money Laundering Case

    Federal prosecutors in Switzerland are seeking compensation of $45 million in the Credit Suisse m...

    Swiss Court Seeks $45m Compensation in Credit Suisse Money Laundering Case Explore More

    News

    ICAEW Calls for Professional Scepticism to Mitigate Money Laundering in UAE

    The Institute of Chartered Accountants in England and Wales (ICAEW) and the UAE’s Accountants &am...

    ICAEW Calls for Professional Scepticism to Mitigate Money Laundering in UAE Explore More

    News

    Investment platforms on target of Criminals to Launder Stolen COVID Relief funds

    Sophisticated fraudsters with expert knowledge in tech are stealing the COVID-19 relief funds fro...

    Investment platforms on target of Criminals to Launder Stolen COVID Relief funds Explore More

    News

    455 Social Media Accounts Flagged for Rolling Out Fake IDs – Europol Reports

    455 social media accounts flagged by Europol, which were providing fake identity documents to ill...

    455 Social Media Accounts Flagged for Rolling Out Fake IDs  – Europol Reports Explore More

    News

    Fed Board Issues Directives Restricting Member Banks Holding Crypto as Principal

    The US Federal Reserve rule cemented the Central bank’s caution about crypto asset activities, pr...

    Fed Board Issues Directives Restricting Member Banks Holding Crypto as Principal Explore More

    News

    Cambodia Seeks Exit from FATF Grey List in Early 2023

    Cambodia has finally invited the Financial Action Task Force (FATF) to evaluate its progress in f...

    Cambodia Seeks Exit from FATF Grey List in Early 2023 Explore More

    News

    Banks Introduce Confirmation of Payee to Tackle Fraud

    The Confirmation of Payee (CoP) system was launched in October 2018 but implementation was delaye...

    Banks Introduce Confirmation of Payee to Tackle Fraud Explore More

    News

    President of Argentina Open to CBDC Adoption but Central Bank Says No

    Alberto Fernandez, President of Argentina showed openness to adoption of Bitcoin and Central Bank...

    President of Argentina Open to CBDC Adoption but Central Bank Says No Explore More

    News

    Liechtenstein’s Legal Authorities Backed by Moneyval on Improved AML/CFT Measures

    Moneyval has published a report backing Liechtenstein’s authorities on the measures it took again...

    Liechtenstein’s Legal Authorities Backed by Moneyval on Improved AML/CFT Measures Explore More

    News

    The number of Bitcoin ATMs has increased to 8,000

    The total number of Bitcoin ATMs across the world have crossed 8,000. The United States has more...

    The number of Bitcoin ATMs has increased to 8,000 Explore More

    News

    FATF Removes Malta From gray List of Untrustworthy Financial Jurisdictions

    After one year of being included in the FATF grey list, the global action committee has voted Mal...

    FATF Removes Malta From gray List of Untrustworthy Financial Jurisdictions Explore More

    News

    FBI Seizes $1.7M During 3-Month Crypto Operation

    During a 3-month operation from March to May, the FBI seized $1.7m worth of cryptocurrencies, inc...

    FBI Seizes $1.7M During 3-Month Crypto Operation Explore More

    News

    Reserve Bank of Zimbabwe Reveals Most Banks Lose Correspondent Deals Due to AML Non-compliance

    The Reserve Bank of Zimbabwe (RBZ) Deputy Governor disclosed that most banks are losing clients d...

    Reserve Bank of Zimbabwe Reveals Most Banks Lose Correspondent Deals Due to AML Non-compliance Explore More

    News

    Isle of Man Urged to Take Further Steps to Counter Money Laundering

    The Council of Europe’s anti-money laundering committee has again called for an extension in the ...

    Isle of Man Urged to Take Further Steps to Counter Money Laundering Explore More

    News

    Canada Financial Crimes Agency Questioned on Effectiveness of Anti-Fraud Measures

    Anti-fraud experts are reporting concerns regarding the Liberals’ newly announced Canada Financia...

    Canada Financial Crimes Agency Questioned on Effectiveness of Anti-Fraud Measures Explore More

    News

    US Senator Warns ‘a Run on Crypto’ May Need Federal Bailout

    Elizabeth Warren, US Senator and a longtime bitcoin skeptic has shared her views about the upside...

    US Senator Warns ‘a Run on Crypto’ May Need Federal Bailout Explore More

    News

    Lithuanian Government Approves Amendment to Strengthen Digital Currency Regulations

    Lithuania is on the verge of becoming the first country in Europe to pass strict laws on digital ...

    Lithuanian Government Approves Amendment to Strengthen Digital Currency Regulations Explore More

    News

    Japan’s FSA Deems Crypto Dealers Necessary for Ongoing AML Efforts

    Japan’s federal regulatory authority FSA lays ground for anti money laundering requirements for c...

    Japan’s FSA Deems Crypto Dealers Necessary for Ongoing AML Efforts Explore More

    News

    UK Fraud Agency Warns Money Launderers are Targeting Under-21s

    Cifas recently reported an economic downturn allows fraudsters to target young people, under 21, ...

    UK Fraud Agency Warns Money Launderers are Targeting Under-21s Explore More

    News

    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...

    SuperCare Health Faces Lawsuit for Having “Incompetent Security Measures” to Stop Data Breach Explore More

    News

    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...

    UAE Central Bank: AML Guidelines Issued for Licensed Financial Institutes Explore More

    News

    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...

    IMF Urges Central Bank of Seychelles to Upgrade Transparency and AML Controls Explore More

    News

    FirstBank of Nigeria Continues Commitment to Combating Money Laundering

    Chief Executive Officer of the First Bank Group of Nigeria Limited, Dr. Adesola Adeduntan, noted ...

    FirstBank of Nigeria Continues Commitment to Combating Money Laundering Explore More

    News

    Chinese Tech Groups Shaping UN Facial Recognition Standards

    Leaked documents reveal that Chinese tech giants are developing the United Nations’ standards for...

    Chinese Tech Groups Shaping UN Facial Recognition Standards Explore More

    News

    Dubai KYC consortium to enhance UAE bank profits

    According to Moody’s Investors Service, the recently formed Know Your Customer (KYC) consortium i...

    Dubai KYC consortium to enhance UAE bank profits Explore More

    News

    UAE Judges Discuss Steps Taken by Authorities to Strengthen AML Controls

    UAE’s senior judges outline the legal actions taken by authorities to strengthen anti-money laund...

    UAE Judges Discuss Steps Taken by Authorities to Strengthen AML Controls Explore More

    News

    Facial Recognition Market to Grow 12.5% Annually Through 2024

    According to a new report by Mordor Intelligence, the facial recognition market is expected to gr...

    Facial Recognition Market to Grow 12.5% Annually Through 2024 Explore More

    News

    HSBC reports money laundering violations in Australia

    LONDON – According to Reuters, HSBC bank (HSBA.L) has reported itself to the Australian fin...

    HSBC reports money laundering violations in Australia Explore More

    News

    The Nigerian Bar Association (NBA) Introduces Anti-Terrorist Financing, Anti-Money Laundering Laws

    Lawyers in Nigeria are being instructed to follow anti-money laundering and terrorist financing l...

    The Nigerian Bar Association (NBA) Introduces Anti-Terrorist Financing, Anti-Money Laundering Laws Explore More

    News

    Credit Cards are Risky for Crypto Transactions, Says Taiwan’s Financial Watchdog

    Credit cards should not be used for crypto-related transactions, as stated by Taiwan’s financial ...

    Credit Cards are Risky for Crypto Transactions, Says Taiwan’s Financial Watchdog Explore More

    News

    FINTRAC Issues Alert on Money Laundering from Illegal Wildlife Trade

    FINTRAC, in collaboration with the Project Anton team, issues an alert on money laundering procee...

    FINTRAC Issues Alert on Money Laundering from Illegal Wildlife Trade Explore More

    News

    Qatar Takes Steps to Strengthen its AML/CFT and Sanctions Compliance

    A webinar organised by ICC Qatar emphasised the efforts of Qatar to strengthen its AML/CFT and sa...

    Qatar Takes Steps to Strengthen its AML/CFT and Sanctions Compliance Explore More

    News

    FinCEN and FDIC to Test the Effectiveness of Digital ID Verification Tools

    Two federal regulators – the FinCEN and FDIC have called for a ‘tech sprint’ to assess the ...

    FinCEN and FDIC to Test the Effectiveness of Digital ID Verification Tools Explore More

    News

    CBUAE Issues New AML/CTF Guidelines for the Insurance Sector

    The Central Bank of the UAE (CBUAE) has announced new Anti Money Laundering and Countering Terror...

    CBUAE Issues New AML/CTF Guidelines for the Insurance Sector Explore More

    Take the next steps to better security.

    Contact us

    Get in touch with our experts. We'll help you find the perfect solution for your compliance and security needs.

    Contact us

    Request demo

    Get free access to our platform and try our products today.

    Get started