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Two foreign nationals charged with Cryptocurrency laundering
The United States Department of Justice has charged two Chinese nationals with laundering $100 mi...
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FinCEN May Release a YouTube Video to Outreach Latest BOI Rules
The Financial Crimes Enforcement Network (FinCEN) director stated they are creating awareness cam...
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US Courtrooms Ponder Over the Photo ID Requirement for Voters
The US courtrooms are again facing the debate over the use of photo identification for voters. A ...
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“Lack of Face-to-Face Verification is a Risk for FIs”, Reported MAS & ABS
Monetary Authority of Singapore (MAS) and the Association of Banks in Singapore (BAS) have publis...
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UK’s National Audit Claims FCA Takes Slow Crypto Enforcement Actions
The UK’s National Audit stated that the Financial Conduct Authority (FCA) has all the rights to c...
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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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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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SA Banks at High Risk of Money Laundering & Terrorist Financing, Says Prudential Authority Report
South African banks have moved up into the high-risk category in the new report from the Prudenti...
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The Biggest Theft in Crypto History: $600 Million Stolen
Binance and Tether have also joined the recovery plan to help minimize the consequences of the at...
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Online Gambling Operator Penalized Over Failure to Meet Anti-Money Laundering Regulations
Boylesports, an online gambling operation is facing £ 2.8 million in fines for violating the regu...
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Regional Watchdog Assesses the AML Protocols Followed by Liberia to Fight Money Laundering
The Financial Intelligence Unit of Liberia has established the Inter-governmental Action Group Ag...
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FATF to Shorten Its Fifth Round of Mutual Evaluation to Assess Countries’ AML Regimes
The Financial Action Task Force has announced that it will shorten its fifth round of mutual eval...
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ACRA Cancels Registration of Company for AML/CFT Failures
The Accounting and Corporate Regulatory Authority (ACRA) has revoked the registration of a compan...
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Reports Reveal NAB Contract Workers Received Little to No AML Training
The disclosure follows AUSTRAC’s recent launch of a formal investigation into NAB earlier this mo...
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EBA revised its guidelines on ML/FT risk factors
The European Banking Authority (EBA) issued revised money laundering and terrorist funding (ML/TF...
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Cyprus Makes Strides in Restoring its Reputation by Dealing with AML Concerns
According to the US Ambassador to Cyprus Judith Garber, Cyprus has shown progress in dealing with...
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Cyprus Adopts Transparency in Registration of Company Owners
Cyprus has planned to introduce a register in the coming weeks to unveil the identity of thousand...
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£23.8 Million Fined to MT Global for AML Non-Compliance
A Money Service Business (MSB) firm, MT Global, penalized by HM Revenue and Customs for breaching...
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Archipelago Trading Fined $1.5 Million for SAR and AML Failings
The US Security and Exchange Commission (SEC) fined the Archipelago Trading company over the shor...
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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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Denmark’s Gambling Authority Issues Reminder for AML Duties
All licensed businesses are reminded to report suspicious transactions that may be indicative of ...
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Singapore Monetary Authority to Review Rising Card Scam Cases
The Monetary Authority of Singapore (MAS) is reviewing the liability framework for card scams, gi...
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Hong Kong further strengthens its Cryptocurrency regulations
Paul Chan, the Financial Secretary of Hong Kong, stated that the country was considering to stren...
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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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Govt assists Struggling Swiss Crypto Valley
Switzerland’s “Crypto Valley” is in talks with the federal government for fixing a 100 million Sw...
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South Korea Unlikely to Legislate Crypto Regulations Before the U.S – Says FSC
South Korea’s Financial Services Commission focuses the cryptocurrency legislation. According to ...
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Sweden Points Out the Rising Cases of Money Laundering in Gaming Industry
Financial Police of Sweden has revealed a report that highlights more than 700 cases of money lau...
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CSIR Reports Surge in Cybercrimes Pertaining to Work-from-home Culture
The Council for Scientific and Industrial Research (CSIR) has reported that cyberattacks have inc...
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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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ACCC Calls for Heavy Penalties to Make Tech Giants Scam-free
The Australian Competition and Consumer Commission (ACCC) has demanded severe penalties linked to...
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7 UAE Law Firms Penalized in Anti-money Laundering Violations
Around 100,000 dirhams have been fined to 7 law firms in UAE for disregarding anti-money launderi...
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Sweden Points Out the Rising Cases of Money Laundering in Gaming Industry
Financial Police of Sweden has revealed a report that highlights more than 700 cases of money lau...
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Crown Resorts Accused of ‘Serious and Systemic’ Money-Laundering Breaches
AUSTRAC has brought Crown Resorts to court as the casino breached anti-money laundering regulatio...
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Fraudulent crypto exchange shut down by UK High Court
The UK High Court has designated the Official Receiver as liquidator of GPay Ltd, the cryptocurre...
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FCA Fines ADM Investors for Violating Anti-Money Laundering Regulations
The UK regulatory department Financial Conduct Authority (FCA) fined $7.9 million to the commodit...
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DC is the Latest State to Sue Juul over Targeting Minors
The District of Columbia is now the latest state to sue c-cigarette maker, Juul Labs, saying the ...
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Cryptocurrencies Need Regulation to Prevent Money Laundering, Says Singapore Minister
A panel of regulators and bankers at the World Economic Forum stated that cryptocurrency need to ...
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Westpac Proven Guilty of Breaching Money Laundering Laws after Commonwealth Bank
Westpac was accused of violating the money laundering laws and counter-terrorism financial allega...
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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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‘EU Has Fragmented Approach to Combat FinCrime’, Says ECA
The European Court of Auditors (ECA) has identified weaknesses in the Anti-Money Laundering polic...
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Dutch Money Mule Caught Involved in $3.5M of Money Laundering in Australia
A 22-year old Dutch national has been arrested by Australian Police for being a money mule in a m...
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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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FACT Urges Treasury to Implement Landmark Corporate Transparency Act
FACT has urged the treasury department to impose crucial changes to draft regulations and impleme...
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The UAE Central Bank Revokes Dirham Exchange’s Licence for AML Misconduct
Dirham Exchange, an exchange house based in the UAE, has had its licence revoked by The UAE Centr...
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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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Taiwan Bans Four Foreign Banks for Breaching FX Regulations
The Central Bank of Taiwan has penalized four foreign banks for assisting 8 major grain companies...
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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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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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Economic uncertainty ‘a breeding ground for fraud and financial crime
The FATF has warned that the Coronavirus outbreak has caused unparalleled challenges in the econo...
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Money Laundering Becomes Another Cause of Poverty, Says UN
According to the latest UN’s report, over 10% of the world’s wealth could be hidden in overseas b...
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FinCEN to Expand GTOs on All-cash Real Estate Purchases to Stop Money Laundering
The Financial Crimes Enforcement Network (FinCEN) has announced the expansion of its GTOs. The ne...
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Wellington Real Estate Company Fails to Report Suspicious Activity on Properties
Mills Gibbon and Co, a Wellington-based real estate company, has been warned by the Department of...
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Fraudsters Seek Fake COVID Test Reports as New Travel Restrictions Roll Out
As the new travel restrictions are imposed to omit the spread of the coronavirus, the fraudsters ...
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Over $1 Billion Laundered Through Australia’s Pubs and Clubs Annually
A joint report by media outlets has shown evidence of over AU$1 billion being laundered throughou...
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FINRA Issues its Examination and Risk Monitoring Program Report 2023
FINRA published its 2023 report on its Examination and Risk Monitoring Program, covering all the ...
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Increasing Use of Cryptocurrency for Money Laundering Causes Concern in the Philippines
The use of cryptocurrency in money laundering is raising alarm for the Philippine Central Cank. T...
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AML Program Risks Highlighted by the Pandora Papers Scandal
Experts have advised compliance officers to divert their focus on EDD, CDD, and UBO verification ...
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Google Pay Transactions Just Got More Secure
Previously, when you used Google Pay for transactions, it would only ask you to enter your PIN. A...
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South Africa Enforces New Rules to Transfer Funds Abroad
The South African Revenue Service (SARS) has made regulatory changes to transfer funds overseas, ...
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Google to Improve its Compliance Program After BTC-e Data Loss
Google has committed to strengthening its legal compliance program after losing data linked with ...
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Bank of Lithuania Revokes License of UK Payments Firm for AML Failures
Transactive Systems Ltd., which processed more than €1 billion of payments every month, has had i...
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NYDFS Reminds BitLicense Holders to Follow Rules
NYDFS (New York Department of Financial Service) has restated custody and disclosure requirements...
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Garantex Sanctioned by the US for Laundering Over $100 Million
The US Treasury Department has sanctioned the virtual currency exchange Garantex for facilitating...
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Nearly $30 Billion Laundered Through Canada’s Real Estate – Says TIC
A joint study by Transparency International Canada and the End Snow Washing Coalition highlighted...
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Jamaican Senate Approves Order to Combat Money Laundering
The Jamaican Senate recently approved the Proceeds of Crime (DNFBPs)(TCSPs) Order, 2022, which is...
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Prosecutors Raise Questions About KYC/AML Against Cryptocurrency Mixers
According to the prosecutors and financial regulators, cryptocurrency mixers are reportedly being...
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Aussies Bombarded With Scams in 2022 – ACCC Report
The Australian Competition and Consumer Commission (ACCC) reported Aussies as the top target of s...
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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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Criminal Group in KSA Jailed 24 Years Over Money Laundering Offence
Criminals in Saudi Arabia sentenced to 25 years imprisonment after getting caught in money launde...
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Small Business Group Sues Treasury Department Over ‘Money Laundering Transparency Initiative’
A small business lobbying group has sued the Treasury Department over asking more than 30 million...
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DIA Warns Auckland Real Estate for Lax Money Laundering Prevention
The department of Internal Affairs has issued a formal warning to Auckland’s real estate company ...
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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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