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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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Asia/Pacific Group on Money Laundering Releases 2021 Typologies Report
The report has highlighted areas of high priority that need further study and the risks associate...
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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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Singapore Government Discloses Modified Regulatory Measures for Stablecoins
Singapore’s Central Bank has disclosed upgraded regulatory guidelines for stablecoins to keep cry...
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Taiwanese Crypto Exchange Platform Under Investigation for Money Laundering
Taiwanese crypto exchange platform and a member of the Virtual Asset Service Provider (VASP), Bit...
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Comparitech Report Ranks Biometric Data Use: China Tops the List
Comparitech, a pro-consumer technology website, conducted a study including 50 countries and thei...
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Brazil to Become a Part of OECD and Plans to Launch IPO for Its Digital Bank
During a virtual event on Tuesday, Paulo Guedes, Brazil’s Minister of Economy, announced that the...
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Tesla Data Breach Leaks Personal Information of 75,000 Customers
Confidential data of approximately 75,735 people, including names, cell phone numbers, and addres...
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US Treasury Targets Russian Oligarchs as Part of New to Tackle Illicit Finance
Strategy imposed by the US Treasury to combat illicit finance targets Russian Obligarch as part o...
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Canada Broadens Scope of Anti-Money Laundering and Terrorist Financing Rules
After Prime Minister Justin Trudeau invoked the Emergencies Act on Monday, 14th February, the Dep...
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Indonesia Becomes Member of International Watchdog, FATF
The international money laundering watchdog, FATF, includes Indonesia as its member state, in a g...
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Philippines’ Anti-Money Laundering Counsel Increases AML Measures for Casino Junkets
The Philippines’ Anti-Money Laundering Counsel (AMLC) has stated that it is currently impro...
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Hong Kong Police Arrests 19 Criminals and Halts a US $40.5M Money-Laundering Operation
Hong Kong Police arrested 19 syndicate members pertaining to money laundering operations, involve...
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UAE Central Bank Issues New AML/CFT Guidelines for Licensed Financial Institutions
CBUAE (Central Bank of UAE) has administered new AML/CFT guidance for Licensed Financial Institut...
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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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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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Financial Inclusion Group Proposes User-centric Digital ID, Biometric KYC Policy Model
According to the AFI model, digital IDs and biometric KYC verification must be deployed by busine...
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TD Banking Group Expects US Penalties for Money Laundering
TD Banking Group disclosed that they expect fines and non-compliance penalties related to US auth...
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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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FCA Fines Ghana International Bank Over £5 million for Money Laundering Failings
The Financial Conduct Authority (FCA) has imposed a £5,829,900 financial penalty on Ghana Interna...
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Lawrence man indicted of identity theft found guilty
BOSTON (AP) — A man charged with using another person’s Social Security number to illegally obtai...
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Crime on the Rise, Mutual Fund Investments Need KYC
Know Your Customer (KYC) is to be implemented on all financial market-related investments. In ord...
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US DOJ Files Cases to Stop Russian Money Laundering Networks
The US DOJ (Department of Justice) filed two cases in the latest action to disrupt money launderi...
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Satabank Penalized with €851,000 for Non-Compliance
Financial Intelligence Analysis Unit (FIAU) on Statabank has decided to fine the bank the sum of ...
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Singapore Scammers Launder Money Through Online Gambling
Singapore police seized US $736 million worth of cryptocurrencies and virtual assets from money l...
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New KYC and AML Compliance May Violate Privacy Laws in South Korea
The South Korean government is considering implementing KYC and AML compliance in the region, but...
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AUSTRAC to Update Guidance for Threshold Transaction Reporting
AUSTRAC has made it mandatory for reporting entities to include a threshold transaction report (T...
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Lloyds Bank Charged with £500K Fine for Breach of Financial Regulatory Standards
Lloyds Bank corporate markets jersey received a fine of £498,000 in relation to the dealings with...
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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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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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UK Announces New Legislation to Regulate Crypto Assets Industry
The UK’s government has developed its first legal framework for cryptocurrency trading and ...
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Central Bank of UAE Issues Updated Guidance For Licensed Financial Institutions
CBUAE issues updated guidance for licenced financial institutions on growing risks of money laund...
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UAE Establishes New Federal Authority for “Commercial Gaming” to Control Casino Giants
The UAE government is ready to launch a new federal authority to regulate online lottery business...
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EU Warns About the Impact of COVID-19 on Non-Regulated Crypto Investments
European Union’s financial regulatory agency, the European Securities and Markets Authority (ESMA...
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£78 Million Stolen in Investment Scams, Warns FCA
FCA- Financial Conductive Authority has given out a warning as the investment scams regarding ‘cl...
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COVID-19 Vaccines at the Risk of being Illegally Obtained by Fraudsters
There is nothing more awaited than the coronavirus vaccine this year. The international agencies ...
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US Authorities Seize Bahamas Bank for Laundering $58 Million
It’s rumoured that Deltec, a Bahamas-based bank popular with crypto clients, is linked to a...
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“Walk the Talk” – RUSI Calls On FATF to Promote Financial Inclusion
RUSI has called out the FATF for not actively promoting financial inclusion as part of its primar...
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Kuwait Bans Crypto-Related Activities to Combat Money Laundering
The government of Kuwait banned all crypto-related activities on July 18th, including mining, tra...
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Italian banking association ready to accept digital euro
The Italian Banking Association (ABI) has disclosed that it is willing to support the introductio...
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Dark Web Becomes a Haven for Insurance Fraud
Dark Web has recently become a growing market for unemployment insurance fraud and fraudsters can...
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Germany to Form a new Anti-Money Laundering Agency
Germany is reportedly forming a new AML agency that aims to regulate sanction efforts and money l...
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FATF Publishes Two New Updates on Global ML/TF Risks
FATF, the international group that makes global Anti-Money Laundering and Countering Terrorism Fi...
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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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Iran’s President Has Called for Legal Framework For Crypto Trading
Hassan Rouhani, the Iranian President, wants to legalize crypto trading and safeguard national in...
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UAE Strengthens AML Measures to Bolster Virtual Asset Framework
The UAE’s anti-money laundering and counter-terrorism financing department stated it continues bo...
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Job Seekers Face Concerns of Identity Theft Through Fake Employment Scams
Fake employment advertisements defrauded many job seekers with theft of money and personal detail...
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Investment Bank Fined by FCA for Failing with Due Diligence Requirements
An Investment Bank in London, Sapien Captial, has been penalised by the financial regulator, Fina...
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FinCEN Hires First-Ever Chief Digital Currency Advisor to Curb Crypto Crime
To eliminate the misuse of cryptocurrencies, Michele Korver has been appointed by FinCEN as the C...
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AML Council Warns Financial Institutions to Strengthen Systems for Effective Money Laundering Prevention
Banks and financial institutions should implement a strengthened anti-money laundering system to ...
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Chinese regulators extend financial support to bring Hong Kong, Macau closer
China’s financial regulators revealed an extensive plan to ease investments and cross-border tran...
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Pakistan’s State Bank unveils new AML/CFT regulations for Forex Firms
State Bank of Pakistan on Tuesday amended Anti-money laundering (AML) and Counter Financing of te...
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Ring doorbell gives user data to Facebook and Google
Recent investigation suggests that Ring doorbells are exposing the customers’ data to companies s...
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US Financial Authority Removes Provisional Crypto AML Regulations
The United States government removed two provisions from the National Defence Authorisation Act (...
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US Government Looking to Develop Vaccine Passports as Proof of Vaccination
The US government is looking to develop a system that would manage the credentials and verify the...
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The Chinese central bank confirms digital Yuan mobile app trials
According to a statement, the People’s Bank of China (PBoC) conducts internal tests for the natio...
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“Crypto Should Be Regulated, Not Prohibited”, Says ECB Vice President
After his statement in May that declared cryptocurrencies as a risky investment, the Vice Preside...
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Foxconn Becomes the Victim of Ransomware Attack
A ransomware attack has impacted an electronic manufacturer, Foxconn, very badly. This attack was...
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Leading MSB Industry Associations Introduce Best Practices For Anti-Money Laundering
The introduction of the best practices for anti-money laundering by leading MSB industry associat...
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UAE Delegation to Visit the US to Discuss AML Initiatives
The UAE and the US put forward their efforts to minimize the risks associated with virtual assets...
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Five Kenyan banks fined under AML laws
Five commercial banks were imposed a fine of $3.75 million in Kenya for failing to report suspici...
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Unlisted Crypto Exchange, JPEX, Investigated for Criminal Charges by SFC
The Hong Kong Security and Futures Commission (SFC) warned an unlisted crypto exchange platform, ...
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FATF issues new guidance on Digital Identity systems
A guidance paper has been issued by the Financial Action Task Force (FATF) to assist governments,...
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AI-based voice cloning induces new scams
Vijay Balasubramaniyan, the CEO, CTO, and Co-founder of Pindrop Security, warns the world about a...
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Australia Lags Behind in Extending FATF’s AML/CFT Recommendations to DNFBPs
Australia is sending a signal to welcome global financial criminals for business in its lawyers, ...
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FATF Withdraws Switzerland From AML Enhanced Measures List
The Financial Action Task Force (FATF) removed Switzerland from the enhanced money-laundering com...
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FATF issues new guidance on Digital Identity systems
A guidance paper has been issued by the Financial Action Task Force (FATF) to assist governments,...
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UAE Banks Asked to Strengthen their AML/CFT Measures
UAE financial institutions and the banks are required to prioritize eliminating money laundering ...
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European Commission Lists Online Gambling a High-Risk Sector for Money Laundering
The European Commission has listed online gambling as a high-risk avenue for money laundering aft...
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UAE Establishes New Federal Authority for “Commercial Gaming” to Control Casino Giants
The UAE government is ready to launch a new federal authority to regulate online lottery business...
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Ghost Coin deployed as payment for vending machines in Hong Kong
Ghost Coin, the privacy coin headed by John McAfee, can now be installed in vending machines in H...
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Facebook’s Calibra rebrands to Novi wallet
Facebook subsidiary and Libra wallet provider Calibra, has recently been rebranded to Novi. The n...
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