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Fraudsters Target UK’s £400 Energy Bill Support Scheme through Scam Texts
Fraudsters are taking advantage of the support program initiated for people to lessen the burden ...
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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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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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The UAE and Malta Organise a Joint Workshop to Share AML/CFT Knowledge & Experience
The UAE and Malta organised training workshops between 12-15 June to strengthen cooperation and c...
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FATF Member, Saudi Arabia, Winning the World Money Laundering Race
During a virtual meeting on Monday, the FATF supported Saudi Arabia to combat money laundering an...
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$9.8 Million Lost, 40 Arrested in Twitch Money Laundering Scheme
On Tuesday, 4th January, Turkish police took 40 suspects into custody from 11 provinces for alleg...
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Interpol Launches New Center to Combat Financial Crime
Interpol has launched a Financial Crime and Anti-Corruption Center (IFCACC) as part of efforts to...
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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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Amazon Sued Over Illegal Storage of Employee Biometric Data
Lawyers from the firm of McGuire Law P.C. of Chicago filed a class action complaint on November 1...
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China’s Central Bank Fines ICBC & Bank of Chongqing for AML Shortcomings
Chinese banks including industrial and commercial banks of Chongqing have been fined by regulator...
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Malta’s Justice Minister Ammends Legal Framework to Lighten Financial Crime Proceedings
Malta’s Justice Minister announces amendments in the court proceedings for financial crimes...
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French Magazine XXI to Reveal ICIJ’s Take on Tax Havens
In an interview with ICIJ, XXI editor David Servenay says that the offshore world is more powerfu...
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Kenya Takes First Step to Regulate Virtual Asset Market
The Kenyan government is all set to take the first step to regulate a vast $20 Billion crypto mar...
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BSA-AML Compliance Group Disclose Names of Annual Gaming Conference Speakers
The BSA-AML Compliance group has revealed the names of the speakers attending the annual gaming c...
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UK MPs Call for Improved Crypto Regulations to Prevent Losses
Ministers of the UK Parliament are calling for more rigid cryptocurrency regulations from the ASA...
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FCMC Fines AS PrivatBank Worth €768K for AML Non-Compliance
The FCMC fined PrivatBank for AML/CTPF compliance breaches and instructed the bank to address its...
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UK Fraud Agency Warns Money Launderers are Targeting Under-21s
Cifas recently reported an economic downturn allows fraudsters to target young people, under 21, ...
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Nigeria’s Senate Passes Bill to Tighten Money Laundering Rules
Nigeria’s Senate has passed a bill that is aimed at improving the country’s money laundering regu...
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Indonesia Becomes Member of International Watchdog, FATF
The international money laundering watchdog, FATF, includes Indonesia as its member state, in a g...
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AFP Investigates Money Laundering Tactics Employed by Criminals in 2021
The Australian Federal Police is highlighting the hidden channels used by money launderers in 202...
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Tesla Data Breach Leaks Personal Information of 75,000 Customers
Confidential data of approximately 75,735 people, including names, cell phone numbers, and addres...
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Artist Sues AI Generators for Alleged Industrial-Level Identity Theft
Artist, Karla Ortiz, has sued two artificial intelligence firms for generating images that mimic ...
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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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The Anti-Money Laundering (AML) Whistleblower Program is Set to Fortify US Anti-Corruption Efforts in 2024
The Anti-Money Laundering (AML) Whistleblower Program is projected to be a leading U.S. anti-corr...
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UKGC imposed EUR 3.8 Million Fine on Genesis Global for Social Responsibility and Money Laundering Violations
After the two-year investigation, the United Kingdom Gambling Commission (UKGC) imposed EUR 3.8 m...
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“Online Trading Platforms to Become a New Hub for Investment Scams” Warns FCA
FCA warns that investment scams are increasing in the UK via online means of trading platforms an...
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Money Remittance in Singapore at the Highest Risk of TF
The money remittance sector and banking sector in Singapore has become the highest target for cri...
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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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Nigeria Employs New BOR Initiative to be Removed from FATF’s Gray List
A Beneficial Ownership Register (BOR) has been inaugurated by the Corporate Affairs Commission (C...
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Study Reveals Alabama to be the Center for Identity Theft and Fraud
According to the latest study, Alabama has become the state with one of the highest rates of iden...
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UK NCA Recovers $7.5 Million from Azerbaijani Laundromat Probe
The UK’s NCA has recovered 5.6 million pounds ($7.5 million) from bank accounts in the country wh...
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Danske to face $2 billion fine for money laundering
According to Jyske Bank, Danske will probably be fined around 13.5 billion kroner (around $2 bill...
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UAE Deploys Hi-Tech Measures to Combat Money Laundering
The UAE has intensified its measures in the fight against money laundering and terrorism financin...
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Binance Resorts to Shady Crypto Firms as Authorised Options Run Short
Binance, the global crypto exchange leader, retract to shady asset companies as authorised option...
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Central Bank of UAE Issues New AML Guidelines to Mitigate Payment Fraud Risks
The Central Bank of UAE has issued new anti-money laundering guidelines to prevent payment frauds...
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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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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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EU Sets a New Limit on Cash Transactions to Curb Financial Crimes
The EU countries have signed an agreement according to which the crypto-service providers must co...
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FinCEN Wants Banks to Submit SARs to Affiliates Under AML Act 2021
FinCEN proposed a new rule that will allow banks to share suspicious activity reports with foreig...
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Global OCR market expected to reach $70 billion by 2030
The global OCR market is expected to grow at the CAGR of 15% from 2020 to 2030, reaching USD 70 b...
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FATF Votes to Graylist Malta
Malta’s Prime Minister announced the news at a conference on Wednesday after local media reported...
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CCPA in effect – Mozilla firefox will let users delete their collected data
The California Consumer Privacy Act came into effect on Wednesday, Jan 1. Being obliged by the ne...
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US government favours a hands-off approach to AI’s regulation
The white house listed 10 principles that federal agencies should consider when drafting laws and...
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Singaporean Banks Enhance Security to Combat Financial Crime
The Monetary Authority of Singapore (MAS) stated that the country’s banks are enhancing security ...
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German Law Firm Denies Money Laundering Allegations Against Deutsche ReGas
Hengeler Mueller, a German law firm, investigated the loopholes in the Anti-Money Laundering (AML...
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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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FIU Imposes a Fine of L$21 Million on Insurance Companies for AML Failings
The Liberian financial intelligence unit (FIU) has imposed a L$21 million fine against all the in...
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UAE Issues Guidance to Registered Unlicensed Crypto Firms
UAE’s regulatory authorities stated all unlicensed Virtual Service Providers (VASPs) companies wi...
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FATF Issues Guidance Paper For Incorporating Digital ID
The Financial Action Task Force (FATF) has issued a guidance paper, last week, that outlines a ri...
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Fake NFT Sold for £244k from Artist “Banksy’s” Website
A fake link directed bidders to an online auction for Banksy’s NFT, which was posted on the now-d...
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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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New RBI Guideline: Must Perform Due Diligence for Crypto Transactions
In the latest banking news in India, notable banks were found to have cautioned their customers a...
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Global Payments Industry At Risk Due to Cryptocurrencies, Says FinTech Boss
According to the boss of New York based investment banking company, Goldman Sachs, Cryptocurrenci...
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FinCEN Wants Banks to Submit SARs to Affiliates Under AML Act 2021
FinCEN proposed a new rule that will allow banks to share suspicious activity reports with foreig...
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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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NFTs Seek to Implement KYC/AML Standards as Money Laundering Rises
NFTs (Non-Fungible Tokens) are certainly becoming popular in the crypto industry. However, they d...
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New Zealand to Introduce New Bill for Public Beneficial Ownership Register
New Zealand has initiated a crackdown against corporate secrecy after the Pandora papers and look...
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Russian Sanctions Put Switzerland in a Tough Spot Between Regulators and Oligarchs
Switzerland’s luxury sector is in a tough spot after Western countries have imposed sanctions aga...
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$9.8 Million Lost, 40 Arrested in Twitch Money Laundering Scheme
On Tuesday, 4th January, Turkish police took 40 suspects into custody from 11 provinces for alleg...
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UAE Grants Russian Lender a Rare Banking Licence to Operate in the Region
The CBUAE has approved a banking licence for Russia’s MTS bank, a move that risks deepening...
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The State Bank of Vietnam Demands More Freedom and Power to be Granted to the Anti-Money Laundering Bureau
The State Bank of Vietnam (SBV) requested the government to enhance security by providing more fr...
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After Targeting 30 People, the “Major Identity Theft Player” Got Arrested by MPD
Roseanna Russell, who the police call ‘mega player’, got caught by the Mobile police. The reports...
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Crypto Services Approved Under AMLD5 Regulations by the Dutch Central Bank
De Nederlandsche Bank NV (DNB) has permitted AMDAX BV the Central Bank of Netherlands to operate ...
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EU and British Financial Watchdogs to Investigate Digital Stock Tokens
The German and British regulators are reportedly investigating the stock token trading, recently ...
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Canada’s Real Estate a Safe Haven for Money Laundering, Confirms Intel
Intel has confirmed the findings of CISC’s report saying that Canadian real estate is a safe have...
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Sri Lankan Regulatory Authorities Enforce AML/CFT Measures to Avoid FATF Grey and Black List
The Financial Action Task Force (FATF) started cracking down on Sri Lanka’s financial institutes ...
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Pakistan Launches Contactless Biometric Verification for Banking
Pakistan has become one of the first countries in the world to implement biometric verification t...
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UAE Struggles to Shade Off Grey-List Status as it Continues to Attract More Crypto Firms
The UAE is keen on regaining a good reputation by clearing its name from FATF’s grey list while t...
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Uruguay Faces 3 Obstacles in the Fight Against Money Laundering
Uruguay’s national secretariat unit, SENACLAFT, revealed three obstacles in fighting money launde...
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Australia Risks Damage To Economy Unless Money Laundering Laws are Improved
A Senate committee says that Australia is at risk of damaging its economy if money laundering law...
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Dubai KYC consortium to enhance UAE bank profits
According to Moody’s Investors Service, the recently formed Know Your Customer (KYC) consortium i...
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UK Gambling Commission Charges Kindred Brand $8.7M over AML Shortcomings
The UK Gambling Commission has charged the Kindred Group with a hefty £4.19-million (US$5.15 mill...
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