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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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Online fraud attempts increase during COVID-19 catastrophe
According to ACI Worldwide, the rate of fraud attempts have increased to 4.3% in April, slightly ...
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Banks take measures to serve customers amid COVID-19
The banking industry is stepping up to serve customers as well as their employees as the Coronavi...
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Transparency International Declares South Sudan Second Most Corrupt Country
In the East African region, South Sudan has been ranked as the most corrupt country in the world....
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AMLC Continues to Address AML Deficiencies as per FATF Guidelines
The AMLC has reported continued efforts to address the deficiencies specified by the FATF to tack...
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EU Parliament Proposes Change in AML Bill to Increase Focus on NFTs
Lawmakers in the EU Parliament have proposed new changes for the upcoming AML bill to increase fo...
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Shufti introduces react native app for customer convenience
Recently, Shufti launched its react native app for enhanced customer convenience.
Shufti ...
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Fintrac Warns Casinos of Gamers Paying with Bank Drafts
Canada’s anti-money laundering agency is warning casinos to be cautious of customers who pay for ...
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Anonymous Report Reveals Indian Indiscriminate Targeting Against NGOs
According to the shadow report, India has been indiscriminately targeting non-governmental organi...
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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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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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China’s cyberspace regulators approve 224 blockchain ventures
China’s Office of the Central Cyberspace Affairs Commission (OCCAC) has recently announced a new ...
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Kenyan Authorities Freeze Accounts of Two Nigerian Companies for Allegedly Laundering Sh6 billion
Kenyan authorities have frozen accounts containing Sh45 million belonging to two Nigerian compani...
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11 Arrested for Illegal Offshore and Cross-Border Gambling Activities in Macau
11 people arrested along with businessman Alvin Chau in an investigation of bogus gambling scheme...
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Amazon patents block chain-based product authenticator
The U.S. Patent and Trademark Office approved Amazon’s three-year-old “Distributed ledger certifi...
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Banks warned against profiteering from UK coronavirus crisis
British institutions, including banks, have been urged to avoid profiteering from the Coronavirus...
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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...
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OFAC Sanctions Cryptocurrency Mixing Service for Allegedly Sourcing Money Laundering
OFAC has imposed economic sanctions on cryptocurrency mixing service Tornado Cash for allowing cu...
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Financial Regulators in Uganda Demands Government to Set Crypto Regulations
Uganda’s financia regulators, Financial Intelligence Authority (FIA), want the government to take...
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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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South Korea to Crush Crypto Ignited Illicit Activities
South Korea has announced to eliminate all cryptocurrency-related illegal activities including mo...
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e-KYC services introduced in Malaysia by InstaREM
Residents and expatriates in Malaysia can now make overseas payments safely and regularly through...
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German Authorities Shut Down ChipMixer on Suspicion of Laundering $2.9B Worth of Bitcoins
Law enforcement authorities bring down German-based server ChipMix alleged of laundering $2.9 bil...
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A Brussel Led Crackdown to be Held in Britain if EU Demands are not Met
MEPs have ordered Brussels to black-list the city of London if it does not comply with the EU’s D...
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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...
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Defendants plead guilty of allegations in Medicare Fraud in U.S. District Court
Two defendants, Jessica Jones from Colorado, and Elizabeth Putulin from Florida pleaded guilty to...
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Star Casino’s Share Tumbles 21% Following Money Laundering Allegations
Individuals banned from gambling at the Star casino in Sydney had been permitted to gamble at Sta...
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UK Approves New Bill to Enhance Security in the Cryptocurrency Sector
The UK government has approved a bill to grant power to the authorities to seize cryptocurrency p...
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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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Vietnam Collaborates with UK to Enhance AML Law Enforcement
The Vietnam Ministry of Public Security delegation, led by Deputy Minister Lieutenant General, Le...
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Binance Tightens KYC Verification to Meet Regulatory Compliance
Customers that fail to meet the new requirements will only be allowed to withdraw funds, close po...
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NAB Chief Urges Government to Reconsider Fines for Large Data Breaches
The Chief of NAB Ross McEwan has urged the government that penalties for data breaches charged as...
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U.K. Parliament Introduces New Online Safety Bill to Curb Push Payment Fraud
The UK Parliament introduces a new Online Safety Bill, to mitigate push payment fraud and increas...
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Victor Fredung Warns Businesses about the Rising Cybercrimes During Halloween
Halloween is one of the most awaited festivals throughout the year. While people plan different t...
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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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Fraud claim filed against HSBC Bank for ‘sham’ investment scheme
A fraud claim worth £1.3 billion has been submitted by 371 investors against HSBC UK Bank for los...
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SRA Fines Scarborough Law Firm for Long-term AML Compliance Failures
The Solicitors Regulation Authority (SRA) has fined Scarborough law firm Pinkney Grunwells Lawyer...
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London has been Dubbed as a Money Laundering Base
The UK’s capital has been dubbed as a potential hotbed for organised crime, especially after Brex...
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US DOJ Arrests Two in Alleged NFT Money Laundering, Rug Pull Scheme
The US Department of Justice has arrested two in a $1.1 million non-fungible token fraud and mone...
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Brazilian Police Block Crypto Assets Due to Suspected Fraud
Brazilian police have requested the court to block the virtual assets of suspected digital tradin...
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Russians Turn To Crypto As the West Imposes Financial Sanctions
Data has shown that Russians are turning towards transactions in cryptocurrency as a result of we...
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South Africa links fintech startups with financial regulators
South Africa’s financial regulators have initiated the Inter-governmental Fintech Working Group (...
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New York man charged with trafficking credit card details
According to a federal indictment, Vitalii Antonenko, 28, was alleged in the U.S District Court f...
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Türkiye Removed From Gray List, India Recognized for Its AML Efforts, and Kuwait Urged to Have Better Money Laundering Control Measures: FATF Updates
On Friday, an international financial watchdog committed to securing the global economic system a...
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Ransomware attacks rise as criminals target remote working
Ransomware attacks are getting bigger and bolder at a time where many organisations are implement...
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FIAU Imposed a Fine of €130,000 on Olimp Limited for AML Failures
Olimp Limited has dropped its gaming license since FIAU imposed €130,000 fine on the company for ...
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Police busted a massive £215m money laundering ring in the Northern Ireland
PSNI police arrested 7 individuals following one of the biggest money-laundering investigations i...
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Filipino crypto scammers are impersonating government officials for profit
A Filipino finance entity warns against the supposed crypto Ponzi scheme Bitcoin Revolution, blam...
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UAE Central Bank Issues New Anti-Money Laundering Guidelines
The Central Bank stated that all financial institutions have a month to comply with the new AML g...
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SARB Issues Guidance to Discourage the Termination of Crypto Transactions in Banks
The South Africa Reserve Bank (SARB)’s Prudential Authority has issued a guidance note to banks f...
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Corrupt Countries Tend to Have a Higher Number of Crypto Users, Says IMF
A recent International Monetary Fund (IMF) study shows that counties that have more corruption ha...
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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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Phishing attacks hidden in Google Cloud Services
Cybercriminals are concealing phishing efforts behind legitimate resources like google cloud serv...
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Vietnam Collaborates with UK to Enhance AML Law Enforcement
The Vietnam Ministry of Public Security delegation, led by Deputy Minister Lieutenant General, Le...
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Business Email Compromise Scam Taking a Toll on Businesses
BEC, Business Email Compromise scams are on the rise and they continue to impact businesses. Ther...
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Danish Financial Regulatory Authority Orders Betfair to Address Money Laundering Violations
A subsidiary of Flutter Entertainment, Betfair International, has been sanctioned by the Danish f...
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UK to End “Golden Visa” Regime to Tackle Money Laundering
The UK is looking to scrap its so-called “Golden Visa” regime in a short period as Russian action...
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Global Banks Slapped with a Total of $14.21 Billion Fines in 2020
Finbold released a report on the global banks that were fined in 2020. According to the report, a...
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FCA Issues Report on Progress of Professional Body AML Supervision (OPBAS)
The report has highlighted key areas of improvement, including effective implementation of a risk...
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CBN Introduces Guidelines to Curb Money Laundering in the Financial Sector
The Central Bank of Nigeria (CBN) has issued guidelines on anti-money laundering and combating th...
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Colombian Financial Crime Unit Detects $20 Billion Potentially Linked to Money Laundering
Colombia’s Financial Crimes Unit has detected $20 billion in financial operations that are potent...
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Business Email Compromise Scam Taking a Toll on Businesses
BEC, Business Email Compromise scams are on the rise and they continue to impact businesses. Ther...
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South Africa’s Addition to FATF Gray List Causes Unforeseen Repercussions on Tax Law Implementation
Tax Consulting SA’s report has revealed that greylisting has caused disquietude surrounding...
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FIU in Sri Lanka Penalises Financial Firms over AML/CFT Non-Compliance
Sri Lanka’s Financial Intelligence Unit (FIU) has recently penalised two financial institutions i...
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Fraudsters are all set to exploit Black Friday sales. Beware!
Criminals are aware that at this time of the year, shoppers are looking for discounted deals and ...
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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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European Banking Authority Issues Latest Regulations on Crypto Travel Rules
The European Banking Authority (EBA) announced the new consultation process to implement the cryp...
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Shufti’s Age Verification Solution Approved by KJM
Germany’s Commission for media, Kommission für Jugendmedienschutz (KJM), has approved Shufti’...
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EU to Introduce Sixth ‘Anti-Money Laundering Authority’ for Crypto Oversight
The European Union is planning to introduce the sixth “Anti Money Laundering Authority” to look u...
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Online fraudsters steal £17m over COVID-19 lockdown
About £17 million have been lost due to online fraud over the Coronavirus lockdown period with yo...
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A Three-fold Rise in AML Penalties in China in 2020
China’s banks and financial institutions have faced an increase in penalties in the year 2020 due...
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Hong Kong regulators looking into possible overcharging by brokers
HONG KONG – Hong Kong’s financial regulators announced on Monday that they would analyze th...
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