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Pandemic Fraud Crackdown: US Bank Employees Indicted Over Document Fraud
Bank employees and tax preparers fraudulently applied for $3M+ in pandemic relief loans through f...
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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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UK to Propose Regulatory Protocols for Stablecoins
The government of the UK has declared incoming regulations for stable coins currency. It has also...
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Botswana Passes New Cryptocurrency Bill, Aiming to Curb Money Laundering
Another African country, Botswana has taken a significant step towards regulating cryptocurrency ...
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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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US Regulates Art Market as it is at High Risk of Money Laundering
Law enforcement agencies across the globe have turned their attention to the use of high-value ar...
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FinCEN Extends the Comment Period of Virtual Currency Regulations
FinCEN– Financial Crimes Enforcement has finally agreed to reopen the comment period of reg...
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US Sanctions Russian Crypto Firm Over Ransomware Payments
Suex, a Russian crypto OTC broker, was involved in facilitating ransomware payments and has been ...
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Crypto Adoption on the Rise, PayPal will Offer Crypto Payments in 2021
In the digital era, companies are shifting toward digital means of communication. Banks have plan...
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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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Cyprus Aligns with EU Regulations by Adopting Strong AML/CFT Measures
Cyprus has established a new digital registry and requires the businesses to identify their true ...
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Money Laundering & VAT Fraud Acquisition Against Lycamobile
A trial for money laundering and value-added tax (VAT) fraud between 2014 and 2016 started on Jun...
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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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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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HSBC Bank SMS Phishing Scam Targets UK Victims
A new phishing scam, designed to lure victims into handing over their HSBC bank account details, ...
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Actor Behind $650M Ponzi Scheme Set to Face 20-Year Jail Time
The actor was arrested on account of wire fraud, identity theft, securities fraud, and executing ...
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Hong Kong Provides Guidance to Fight Financial Crimes Emerging from COVID-19
The Monetary Authority in Hong Kong (HKMA) has issued new guidelines for the banks on merging ext...
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The Bicycle Hotel & Casino Fined $500K For Violating AML Laws
The Bicycle Hotel and Casino will be paying $500K in fine as it failed to report Currency Transac...
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Canada’s Federal Agencies to Consult on Anti-Money Laundering and Counter-Terrorism Measures
The Canadian government has launched a public consultation to strengthen the country’s anti...
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11 Arrested for the First Money Laundering Case Using Digital Yuan
Chinese security officials have arrested 11 suspects in the first Central Bank Digital Currency (...
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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 ...
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Skyrocketing NFT Sales Raise Concerns for Tax, Law Enforcement
Last month, the sales for a digital art piece was surprisingly high and raised many questions for...
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Philippine Gaming Watchdog to Make Every Effort to Remove From FATF’s Gray List
The Philippine Amusement and Gaming Corporation (PAGCOR) has stated that it will make every effor...
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Joint US-Spanish Operation Broke a Multi-Million Euro Credit Card Scam
The US Secret Service and Spanish police were working together on an operation when they shut dow...
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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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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 Hit with Record Fine of $100M for Money Laundering
Australia’s gambling giant Star Entertainment Group has been charged $100 million for failing to ...
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Visa and BlockFi Team Up to Launch Bitcoin Rewards for Credit Card Users
As digital currencies are entering different regions of the world, financial giants are introduci...
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EU Legislates Rigid Traceability Rules for Crypto Transfers to Fight Money Laundering
The EU on Thursday legislates more strict traceability rules for cryptocurrencies transfer, in a ...
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The UK’s NCA Establishes New Unit to Clamp Down on Corrupt Elites & Money Launderers
The UK’s National Crime Agency (NCA) created a new unit with the aim to target and investigate co...
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Coronavirus: UK economy recovering gradually, says Bank of England
Bank of England (BOE) governor, Andrew Bailey, stated that there are signs of the UK economy grad...
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FinTech in Malaysia is Improving Due to Friendly Regulations
Malaysia has taken a user-friendly approach to adapt to financial regulations as it is working to...
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US Attorney General Warns about the Identity Theft this Holiday Season
The Federal Trade Commission states that more than 650,000 citizens’ identities have been comprom...
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El Salvador Must Address Bitcoin’s Risks, Demands IMF
The IMF has urged El Salvador to address the risk associated with the adoption of bitcoin as a le...
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Japan Revises Six Laws to Tackle Money Laundering in Cryptocurrency
The Japanese government is pondering enacting a new law. The “bundling bill” proposed...
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Travel and Leisure Industry is at Peril of Facing Data Breach
The travel and leisure industry is already facing a difficult time right now, they do not need to...
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US Takes Steps to Regulate Digital Currency Amid Russian Sanction
President Biden signed an executive order on Wednesday wherein the federal government was urged t...
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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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Nonprofit Guam Shrine Club Under Fire for Alleged Illegal Gambling and Money Laundering
Seven people, three GSC officers and four other individuals from Guam Shrine Club, a nonprofit or...
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Owner of RGCoins Rosen Iossifov Guilty of Crypto Money Laundering
Iossifov was accused of two conspiracy counts; racketeering and money laundering. After a two-wee...
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Emirates Delegation of Anti-Money Laundering and Counter-Terrorism Financing Visits US
The Emirates Executive Office of Money Laundering and Counter-Terrorism Financing visited Washing...
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The Bicycle Hotel & Casino Fined $500K For Violating AML Laws
The Bicycle Hotel and Casino will be paying $500K in fine as it failed to report Currency Transac...
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15 Billion Stolen Logins From 100,000 Breaches – Reveals New Dark Web Audit
15 billion – a figure published demonstrates the stolen logins came about through the 18 mo...
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The SEC Uncovers a Pyramid Scheme and Charges Multiple Individuals
The U.S. regulatory authority SEC uncovered a crypto pyramid scheme that stole approximately US$2...
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Hogan and other US Top Official Become the Victim of Identity Theft
A fraud scheme attacking top government officials of Maryland State has been uncovered. The schem...
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US Cybersecurity Head Fired by Trump for Discrediting the Voter Fraud.
Trump has fired the head of cybersecurity, Christopher Kerbs, for beinhg unloyal to the claims of...
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FATF puts South Africa and Nigeria on Anti Money Laundering Gray list
The global financial watchdog puts Africa’s two biggest economies on Anti-money laundering grey l...
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FATF meeting scheduled to discuss VASPs compliance
The Financial Action Task Force (FATF) has scheduled a plenary meeting on June 24 to monitor the ...
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United Nations Ranks Kenya at Position 24 in the Dirty Money Business
Every year, the United Nations conducts surveys on how the countries are performing. One of the U...
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US Regulates Art Market as it is at High Risk of Money Laundering
Law enforcement agencies across the globe have turned their attention to the use of high-value ar...
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Bank of Ireland Warns Customers of Rise in Phone Call and Text Scams
Bank of Ireland has warned clients of a surge in phone calls and text message scams. As per the f...
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UK’s National Crime Agency Builds a Specialised Crypto Investigation Team
The United Kingdom’s National Crime Agency (NCA) is planning to establish a professional team to ...
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Canada’s Federal Government Announces Public Consultation Regarding a New Framework for Digital Identity
Canada’s government announces public consultation for creating a federally regulated digital iden...
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South Korea Demands Crypto Exchange Data from Banks for Tighter Regulations
The financial regulators in South Korea are seeking crypto exchange data from the banks in order ...
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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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Portuguese Banks Restrict Services for Crypto Exchanges, Citing Risky Grounds
Portuguese banks have restricted services of multiple crypto exchange firms operating in the coun...
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US Shows Conflicts with China at First Financial Meeting
In a recent financial working group meeting, the US Treasury raised disagreements with China, whe...
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FSRA Imposed a Dh 1.32 Million Fine on Wise Nuqud Ltd for AML Failings
FSRA imposed a Dh 1.32 million fine on Wise Nuqud for AML failings. Wise cooperated in the invest...
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Macau Police Arrests Cross-border Money Laundering Group for Illicit Financing of HK1.1 Billion
A group of 22 individuals were arrested by authorities in Macau and HK for suspicions of being in...
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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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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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Croatian Finance Ministry Proposes New Bill to Combat Money Laundering
The Croatian Finance Ministry has introduced a new bill for state institutions to monitor the ban...
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The IRS Issues Last Minute-Warning To Avoid Tax Penalties
A new warning has been issued by the IRS with the introduction of an identity protection pin that...
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UAE Issues Updated Targeted Financial Sanctions Guidance
The UAE has shifted from the multilateral United Nations Security Council (UNSC) sanctions to uni...
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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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UK and UAE Take Steps in Joint Efforts to Combat Money Laundering
In the UAE-UK Partnership to Tackle Illicit Financial Flows, the two countries are in talks about...
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Silvergate Bank ‘Aided and Abetted’ FTX Fraud, Alleges Lawsuit
The latest class action filings in the string of lawsuits allege Silvergate Bank over the last tw...
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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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ID Theft to Drive Majority of the Online Payment Frauds in 2021
Online payment fraud losses will exceed $206 billion over the next few years and the majority of ...
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Gibraltar financial watchdog issues warnings for four crypto sites
The Gibraltar Financial Services Commission, or GFSC, on June 5th, issued four public warnings to...
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NAB Updating KYC Data of 9M Customers
Project Apollo has been initiated by NAB in an attempt to meet AML obligations.
In August 2021, ...
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FATF to “Gray List” UAE for AML Failings
The Financial Action Task Force (FATF) is considering adding the United Arab Emirates to its gray...
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