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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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Black Friday Shoppers Alert: Digital Scam Victims Lose an Average of £1,000 Each
Black Friday shoppers have been advised to strengthen their cybersecurity as NFIB revealed that v...
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SkyCity Adelaide Casino Investigation on hold Amid Money Laundering Court Action
The investigation of SkyCity Adelaide’s capacity to hold a casino licence has been “put on hold”....
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Caterina Giorgi Demands Age Verification Laws for Online Alcohol Businesses
Caterina Giorgi, CEO of the Foundation for Alcohol Research and Education (FARE), has highlighted...
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Crypto Bank Anchorage Has Inadequate AML Measures, Says US Federal Regulator
A US federal regulator has said that the first federally-chartered digital asset bank Anchorage D...
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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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Increasing Financial Crimes Call to Establish a European Center of Excellence For AML Compliance
EU financial and anti-financial crime regulations are more complicated than before and they reinf...
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NZ FMA Announces to Tighten AML/CFT Approach
FMA intends to closely monitor firms’ processes, with comprehensive assessments of how they onboa...
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FATF Points Out Jurisdictions with Inadequate AML/CFT Measures
After the Financial Action Task Force issued public statements regarding updates to its lists of ...
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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 Parliament Approves More Stringent Rules to Combat Money Laundering and Terrorist Financing
The latest EU Parliament vote approves the formation of a new anti-money laundering authority and...
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Wells Fargo Hit With $37M Fine Over Forex Fraud
Improper financial handling, defrauding others, and taking advantage of customers has become a no...
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Taiwan’s Financial Authority Set to Establish Rigid Crypto Regulation
Taiwan’s Financial Supervisory Commission (FSC) has designed regulations that protect the c...
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Cybercriminals Targeting Bitcoin ATMs to Launder Money – Says FBI
The Federal Investigation Bureau (FBI) revealed gaps in financial regulations as money laundering...
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NatWest Apologises for AML Failures and Issues Warning on Rising Inflation
The chairman of NatWest bank has apologised to shareholders for failing to implement adequate ant...
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Southern District of New York Alleges Danske Bank against Serious AML Scandal
SDNY sentences Danske Bank with three years of probation on the tale of whistleblowing and mislea...
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FINRA Issues Notice to Remind Firms of Nation-wide AML/CFT Priorities
FINRA has issued a notice reminding all member firms to comply with AML/CFT priorities as mandate...
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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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EU Court of Justice Passes Judgement Against Provision of AMLD5
EU Court of Justice has passed a judgment against the provision of the AMLD5, concluding that pub...
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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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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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Hong Kong Looking to Legitimize Crypto Trading for Retail Investors
The government of Hong Kong has been looking at whether to legitimize crypto trading for retail i...
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House Bill Passed in Philippine to Enforce AML LAW
House of Representatives has approved legal amendments to regulate the developers, metal dealers,...
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Latvia’s Bank Rietumu Fined EUR 5.85M Over Money Laundering Failures
The Financial and Capital Market Commission has fined Bank Rietumu EUR 5.85 million over failures...
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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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Visa, Mastercard Face FTC Inquiry Over Debit Card Transactions
Visa Inc. and Mastercard Inc. are once again facing inquiries by the Federal Trade Commission ove...
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Hong Kong Police Reveals 822 Romance Scams Occurred in 1H of 2021
The Hong Kong Police has advised the public to remain cautious when meeting people online due to ...
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UK’s Regulatory Agencies not Coming Slow Against Money Laundering
HM Revenue & Customs carried out an extensive investigation on the UK’s real-estate agencies ...
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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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Equifax Survey shows Britain Prefers Biometric Verification
Credit reporting agency, Equifax, reports that Brits are much more open to adopting biometric aut...
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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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Star Casino Faces Class Action for Anti-Money Laundering Failures
The Star casino has been hit with a shareholder class action for its alleged non-compliance with ...
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Regulators Criticise Deutsche Bank over Forex Mis-selling Probe
ECB and BaFin have told Deutsche Bank that they are “not satisfied” with its probe into mis-selli...
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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...
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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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Facebook’s New AI Can Help You Circumvent Facial Recognition
Facial recognition technology is primarily used to detect and identify people but in a turn of ev...
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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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FATF Issues New Set of AML and CTF Recommendations for EU States
The Financial Action Task Force (FATF) has offered a new set of guidance for European Union (EU) ...
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BSP Warns Play-to-Earn Gamers about Potential Illicit Activities
Online gaming platforms should employ KYC verification processes to make payments more secure.
T...
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Monetary Authority of Singapore to Support G20 TechSprint Initiative
The Monetary Authority of Singapore (MAS), the nation’s central bank and financial regulator, rec...
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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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US State joins international task force targeting COVID-19 investment scams
The Oregon Division of Financial Regulation has recently joined an international enforcement task...
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US Treasury Launches New Financial Force to Combat Illegal Fentanyl Trade
The US Treasury Department has announced the launch of the Counter-Fentanyl Strike Force to comba...
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US Sanctions Crypto Mixer Sinbad Over Connections to North Korea
The FBI and the Dutch Financial Intelligence and Investigation Service have a crackdown on virtua...
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AUSTRAC Denounces De-banking Practices To Prevent Financial Crimes
AUSTRAC stated that de-banking is a complex global problem as it multiplies the risks faced by fi...
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MFSA, SEC, Along with FCA Introduces New AML Guidelines for Money Laundering Officers and Virtual Asset Service Providers
The Malta Financial Services Authority (MFSA), Securities and Exchange Commission (SEC), and Fina...
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The third man involved in ID theft scheme and money laundering is sentenced to jail
Minnesota man among the three criminals involved ID theft scheme and money laundering has finally...
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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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Jamaica Shows Significant Progress in Anti-Money Laundering Compliance
Jamaica impressively complied with 37 recommendations from 40 international Financial Action Task...
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NYDFS States Signature Bank’s Closure Was Not Linked to Crypto
According to the head of NYDFS, the decision to close Signature Bank last month had nothing to do...
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Queensland Launches New Inquiry into Star Entertainment’s Money Laundering Controls
Queensland initiates a new investigation to examine the money laundering controls of the Gambling...
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Clearview AI will be facing the legal claims after critical NYT report
Clearview AI is an artificial intelligence firm providing facial recognition technology to US law...
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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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Money Laundering in Ireland Skyrockets as Criminals Move Online
The cases of money laundering in Ireland has more than doubled last year and now it has spiked si...
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US Task Force Seizes Another Superyacht in the Battle Against Russian Oligarchs’ Corruption
A new US task force has partnered with the IRS and global entities to take down Russian oligarchs...
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EU Lawmakers Propose New Bill to Combat Money Laundering through NFTs
Members of the European Parliament have proposed a new bill to increase scrutiny of the NFT and D...
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Star Casino Faces Class Action for Anti-Money Laundering Failures
The Star casino has been hit with a shareholder class action for its alleged non-compliance with ...
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Illicit Betting Report by the UK’s Gambling Industry Misguided the Regulators
UK’s Gambling Firms are being accused of exaggerating the numbers on the black market betting rep...
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Liberian Ministers Allegedly Laundering Money Using Foreign Lobbying Contracts, Investigation Reveals
Liberia, one of the poorest countries in the world, is said to spend an enormous and highly suspi...
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UK’s Revised Fraud Policy Criticised for Ineffectiveness Against Rising Crimes
On Wednesday, Britain announced its strategy for reducing fraud by 10% by the end of the current ...
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A Ponzi Scheme of $2.7 Million Unleashed
According to the U.S Department of Justice, a former attorney from Allentown was sentenced to six...
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FCA Raises Major Concerns about Investing in Non-Fungible Tokens (NFTs)
The FCA highlighted the significant risk associated with the Non-Fungible Tokens (NFTS) which may...
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Bank of England fines Citigroup £44m Over Poor Financial Information
The Bank of England has fined the UK branch of the US bank, Citigroup, a record £44m because the ...
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Google CEO voices his concerns regarding AI and its potential harmful damages in the future
Sundar Pichai, Google CEO gave a statement on Monday regarding Artificial Intelligence and its in...
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Cyber Attacks are More Frequent During the Holiday Season: CISA
The holiday season is always accompanied by deals, discounts, special offers and countless shoppi...
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UAE Endorses Legal Framework for Unlicensed Virtual Asset Platforms
The United Arab Emirates (UAE) issued new strict anti-money laundering regulations for unlicensed...
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Crypto firms Halt Business in China After an Intense Government Crackdown
Cryptocurrency businesses have stopped their operations after the government led an intense inves...
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Over £1 Million Lost to Covid Business Support Fraud in Leeds
Leeds City Council papers have shown 74 cases of Covid business support fraud where more than £1 ...
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European Commission Removes Morocco From High-Risk Money Laundering Watchlist
On Wednesday, the European Commission disclosed that Morocco was no longer listed on its high-ris...
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Bank of Valletta Fined EUR 2.6 Million for UBOs Reporting Failure
FIAU imposed a penalty of EUR 2.6 million on the Bank of Valletta for failing to report Beneficia...
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Mirabaud Bank Fined $3M for AML Failings by Dubai Authorities
The Dubai Financial Service Authority (DFSA) levied a fine of $3M on the Middle Eastern bank, Mir...
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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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