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Danske Bank Under Fire Over AML Shortcomings
The FSA has reprimanded Sweden’s Danske Bank over ‘shortcomings’ in its anti-money laundering con...
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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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Drug Trade Proceeds Laundered Through Digital Currency ATMs, Says DEA
According to the U.S Drug Enforcement Administration’s report, digital currency ATMs are growingl...
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FCA Fines £642K to Sunrise Brokers for AML Failings
FCA imposed a £642K fine on Sunrise broker for facilitating fraudster trading and having an inade...
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Mimecast reports a 26.3% increase in spams and opportunist cybercrimes during the first 100 days of COVID-19
With the current pandemic going on, cybercriminals are taking advantage of the situation escalati...
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Financial Intelligence Center Says SA Car Dealers Are at High Risk of Money Laundering
The Financial Intelligence Centre (FIC) has said that SA’s motor vehicle dealers are at a high ri...
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Hungary Becomes “Largely Compliant” with FATF Standards After Improving AML/CFT Measures
The Anti-Money Laundering Body of the Council of Europe has stated that Hungary has improved its ...
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Melbourne Casino Crown Faces New Money Laundering Scandal
Crown’s licence for its Sydney casino has been suspended after an investigation revealed it facil...
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Philippine Senator Files an Anti-Online Gambling Bill Aiming to Curb Financial Crimes
Philippine Senator Joel Villanueva filed a bill imposing a ban on online gambling to prevent fina...
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FirstBank of Nigeria Continues Commitment to Combating Money Laundering
Chief Executive Officer of the First Bank Group of Nigeria Limited, Dr. Adesola Adeduntan, noted ...
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South Korea Seizes $47M Worth of Crypto from Tax Evaders
South Korean officials have seized $47 million in cryptocurrency from 12,000 individuals accused ...
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German Customs to Strengthen Fight Against Organised Crime and Money Laundering
Christian Lindner, German Finance Minister, announced at the weekly cabinet meeting held at the C...
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ACRA to Impose Stricter Rules to Combat Money Laundering & Terrorist Financing
ACRA has proposed stricter rules for professionals and firms that assist businesses with corporat...
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CBN Introduces New Anti-Money Laundering Rules for Microfinance Banks
The Central Bank of Nigeria has issued a guidance note that is aimed to prevent money laundering ...
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US Imposes First-Ever Sanctions on Bitcoin Mixer for Money Laundering
The US Treasury recently announced that it has imposed the first-ever sanctions on a bitcoin mixe...
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China’s digital yuan to be tested by 19 firms including McDonald’s and Starbucks
Starbucks and McDonald’s are among 19 businesses that will test China’s new digital c...
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Nigerian-Owned Tech Firm, Flutterwave, Closes 45 Bank Accounts Due to Money Laundering
A group of 2,468 Nigerian nationals accused Flutterwave Payments Technology of defrauding them of...
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2 Men & 5 Companies to Face Trial for €20 Million Money Laundering Case
A magistrate has found substantial evidence of two Libyan men and five companies involved in laun...
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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...
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Central Bank of Bahamas Calls for Stringent Due Diligence in the Wake of FTX Collapse
The Bahamas’ Central Bank has called for stricter due diligence while moving funds in the w...
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Guyana Completes Money Laundering and Terrorist Financing Report Afore CFATF Assessment
Guyana has completed its second money laundering and terrorist financing National Risk Assessment...
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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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Ireland Campaigns to make Dublin the EU AML Authority Headquarter
A team was established in the Department of Finance by the Irish government to campaign for Dubli...
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Central Bank of Bangladesh Concerns Over Data Submission Delays and Abnormalities
The Central Bank of Bangladesh has raised concerns over licensed bank dealers for late submission...
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EU Lawmakers to Initiate Discussions on AML Laws for Bitcoin, Ethereum & More
The EU’s parliament, commission, and council are set to initiate discussions on the issue of anti...
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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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ML/TF Legislation for Art Industry Labeled ‘Damaging and Unjust’
Cinoa, the international art & antiques dealers’ association has issued an open letter signed...
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Scotland Police Give Warnings Due to the Rise in Cybercrime
Highland Police is taking a major initiative to warn the businesses of a spike in cybercrime and ...
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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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AMLA Adds New Protections and Financial Incentives for US Whistleblowers
Anti Money Laundering Act 2020, has amended the recently enacted AML whistleblower improvement ac...
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EFCC Enforces Real Estate Agents to Comply with Anti-Money Laundering (AML) Regulations
The Economic and Financial Crimes Commission (EFCC) urges real estate agents to strengthen their ...
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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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1.6M Unemployment Claim Filers Exposed Due to Data Breach
The Washington State Auditor’s Office has investigated an incident that has exposed the personal ...
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FATF applauds Korea’s AML and CFT efforts
According to the FATF, Korea features a sound legal framework to tackle money concealment and ter...
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EU Fines Hungary for Declining to Lift Restrictions on Foreign Funded NGOs
European Union, in Brussels, took an important step to penalize Hungary for not lifting restricti...
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Regulators in Hong Kong Urge Banks to Accept Cryptocurrencies
Hong Kong banks are worried about regulatory repercussions for their crypto clients if money laun...
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Dutch Authorities Seize $29 Million in Cryptocurrencies After Money Laundering Investigation
$29 million in crypto were seized over the last few months in money laundering investigations car...
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Chinese Bank trials the test interface for PBoC’s Digital Currency
One of China’s largest state-owned banks, the Agricultural Bank of China (ABC) is testing a new i...
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Federal Prosecutors Investigate Trump’s Social Media Company for Money Laundering
Trump’s social media company is reportedly under investigation by federal prosecutors in New York...
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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 ...
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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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EMLCU Reviews Egypts Efforts to Fight Financial Crime
Chairman of EMLCU (Egyptian Money Laundering and Terrorist Financing Combating Unit) Ahmed Saeed ...
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UAE to Revolutionize the Financial Regulatory Requirements
A new set of measures are being taken by the Ministry of Justice in the UAE to curb the money lau...
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EU Watchdog Takes Deep Dive Into Banks’ Use of Technology
EU’s banking watchdog has recognized the need for RegTech solutions and proper regulatory standar...
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Australian Regulators Oblige Businesses to Report Suspicious Transactions
The Australian regulatory authorities ordered digital businesses to report cyberattacks and suspi...
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FATF Calls for Tighter Regulations to Fill Voids in Virtual Asset Compliance
The Financial Action Task Force (FATF) highlighted a regulatory gap in the compliance system for ...
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CBN Fines GTBank N128M for Failing to Meet AML and CTF Requirements
The Central Bank of Nigeria (CBN) has charged Guaranty Trust Bank (GTBank) with N128 million for ...
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The UAE Hosts the Egmont Plenary to Promote Global Anti-Money Laundering Efforts
The UAE Financial Intelligence Unit is hosting this year’s Egmont Plenary event, which is e...
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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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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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Austria- The Growing Hub of Cryptocurrency Approves 18 Operating License
Financial Supervisory Authority like FMA of Austria received requests from forty digital asset pr...
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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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West Midlands Lose Approximately £8 Million to Employee Fraud in 2022
Business advisors RSM UK has revealed West Midlands as a hotspot for employee fraud. The region h...
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IRS And Foreign Tax Enforcers Warn of Increasing Money Laundering Risks in NFTs
The IRS and foreign tax enforcers have issued a warning of the increasing risks of money launderi...
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Egypt Government to Establish Central Bank Unit for AML and CFT
On Wednesday the cabinet approved a draft law amending some regulations within the Anti-Money Lau...
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Homeland Security Takes Back Its Plans of Facial Recognition for US Citizens
The Department of Homeland Security (DHS) is taking back its decision to implement a policy that ...
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ECOWAS Partners with Interpol to Tackle Money Laundering
ECOWAS (Economic Community of West African States) partners with INTERPOL (International Criminal...
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GIABA Points Out Gaps in Nigeria’s AML/CFT Framework
The GIABA report revealed loopholes in the Nigerian AML/CFT framework and called Nigerian law enf...
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Adobe, Twitter and NYT Team Up Against Deepfakes
Deepfakes, whether synthetic or manipulated, are rising at an alarming rate. They can cause immen...
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Danske Bank Facing the Long-term Cost of Money Laundering
Danske Bank is still facing the consequences of its involvement in the €200 billion worth of mone...
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Jamaica Passes a New Bill to Counter Money Laundering
The Senate has approved the Company (Amendment) Act 2023, which will enable Jamaica to meet inter...
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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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Clubs to Adopt Digital Wallets as NSW Reveals Money Laundering Via Machines
The clubs in Australia are to adopt the digital wallet for poker machines as the regulators disco...
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AUSTRAC Hits Military Bank with Enforcement Action to Ensure AML Compliance
The financial regulator in Australia has hit the Australian Military Bank with implementation act...
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South Africa Introduces Biometric Child Registration To Stop ID Theft
The Department of Home Affairs (DHA) in South Africa recently introduced a new method of biometri...
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Experts Warn Many Firms Will Face Challenges With Latest FCA UK Crypto Law
The UK’s Financial Conduct Authority (FCA) updated the crypto industry regulations recently, whic...
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Iranian Banks in Bahrain to be Prosecuted for Breaching AML Sanctions
Bahrain’s public prosecutor declared that the 13 Iranian banks, including the Central Bank of Ira...
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New Zealand to Introduce Digital IDs to Foster Trust in Online Transactions
New Zealand is working towards a national law that would bring consistency to the country’s effor...
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More Crypto Regulations on Their Way, Says Head of Turkish Central Bank
A few days ago, the Turkish Central Bank imposed a complete ban on cryptocurrency payments. Now,...
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Binance to Strengthen KYC Measures & Sanctions Enforcement with New Partnerships
The global crypto exchange Binance has announced that it will strengthen its KYC controls & s...
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Qatar’s new AML laws leave no room for Cryptocurrencies
A number of countries across the globe are coming with up stringent policies to inhibit the illeg...
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CBA Fails to Disclose AML Non-Compliance to Investors, A Court Hears
A court has heard that the CBA should have informed the market that it may have engaged in “law-b...
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