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South Korea to Crush Crypto Ignited Illicit Activities
South Korea has announced to eliminate all cryptocurrency-related illegal activities including mo...
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EBA Report Uncovers Risks of Money Laundering & Terrorist Financing Associated With Payment Institutions
The European Banking Authority (EBA) published findings on money laundering and terrorism financi...
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Swedish Legislators Propose an Increase in Money Laundering Penalties for the Gambling Industry
Legislators in Sweden will consider increasing penalties for gambling operators who violate the n...
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American Gaming Association Updates Best Practices for AML
The American Gaming Association (AGA) has released updated “Best Practices for Anti-Money Launder...
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Over Dh3 billion Confiscated from Firms violating AML Laws in UAE
The UAE has plans to take a strict stance on firms operating in the region over money laundering ...
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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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Swiss Government Gears Up to Establish a Central Registry for Beneficial Ownership
The Swiss government plans to set up a central registry for beneficial ownership, a step that ind...
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RoC of the Cayman Fines Companies failing to Reveal Beneficial Owner’s Name
Cayman Island’s Registrar of Companies has begun penalizing the financial firms for not disclosin...
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Kazakhstan to Regulate Local Cryptocurrency Businesses
Kazakhstan is tightening its KYC and AML regulations for cryptocurrency exchanges to combat money...
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Real Estate Firm LeHomes Realty Fined $282K for AML Compliance Failure
Real Estate Firm LeHomes Realty has been fined $282K for AML compliance failure. The brokerage co...
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UK FCA Orders Illegal Crypto Service Providers to Shut Down ATMs
The UK’s Financial Conduct Authority has ordered crypto firms operating illegally in the country ...
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SEC Unfolds Strict Regulations to Prevent Financial Crimes in Stock Market
SEC (Securities Exchange Commission) is to implement tough regulations to prevent money launderin...
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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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FINRA Issues Guidelines Regarding Penalties for Anti-Money Laundering Violations
FINRA has issued its first-ever guidance to its member broker-dealers about the penalties that wi...
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India to Introduce Physical Cryptocurrency Bank Branches
India has been rapidly adopting the changes in the digital world and introducing physical banks f...
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$8.6 Million Worth of Syrian Sanctions Settled by a French Bank
A French bank, Union de Banques Arabes et Françaises has paid the 8.6 million USD for violating o...
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Law firm Clyde & Co. fined $635K for Breaching UK Money Laundering Laws
Global law firm Clyde & Co. was fined £500,000 ($635,613) on 11 January for multiple breaches...
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New South Wales (NSW) Government to Make Poker Machine Reforms after Victoria Introduces Strict Anti-Money Laundering Restrictions
The New South Wales (NSW) government of Australia continues to pressure gambling companies to str...
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EUR 27 Million Worth Crypto Assets Seized by the NCA in Money Laundering Crackdown
NCA seizes crypto assets worth £27m last year in a major money laundering crackdown
Although inst...
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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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EU Endorses New Crypto Tax Data Sharing Rules
Strict obligations are set to be implemented in the EU’s digital assets industry. Tax authorities...
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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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Hong Kong Custom Busts Money Laundering Ring Accused of Smuggling HK$170M
Investigators suspect that the criminal gang laundered part of the cash through casinos in Macau....
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Malta Should Remain Vigilant Against Money Laundering, Says FATF President
FATF President Marcus Pleyer says that Malta must prioritise its fight against illicit financial...
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UAE Making ‘Strong Progress’ in Efforts to Prevent Financial Crimes
The Minister of Foreign Affairs said that the UAE is making “strong progress” to prevent illicit ...
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UAE Confiscates Dh4.73 Bn Worth of Assets in Fight Against Financial Crimes
In the past 12 months, the United Arab Emirates has seized assets worth Dh4.73 billion ($1.29bn) ...
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Rabobank Fined EUR 500K for Ineffective KYC Compliance
The Dutch Central Bank (DNB) instructed Rabobank to enhance their CDD, transaction monitoring, an...
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Alibaba copyrights blockchain system that detects music copycats
Granted by the U.S. Patent and Trademark Office on April 21, the method as described by the Chine...
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Philippines AML Council Adds POGO to its Non-Compliance List
In its efforts to fight money laundering and terrorist financing, AMLC has added third POGO to th...
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Prevailing Financial Crimes Make London a Safe Haven for Money Launderer
The UK’s capital is exposed to multiple financial crimes including money laundering and thefts wi...
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Manitoba Expands Criminal Property Forfeiture Branch to Counter Money Laundering
The Manitoba government is expanding the Criminal Property Forfeiture (CPF) branch as part of its...
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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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U.S. Treasury Identifies Emerging Money Laundering Risks and Vulnerabilities
The US Department of the Treasury recently issued its National Risk Assessment for Money Launderi...
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ACMA Introduces New Policies to Combat SIM-Swapping Scams at Telcos
New policies have been introduced by ACMA to prevent SIM-Swapping attack for Telcos to protect us...
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Pakistan’s State Bank unveils new AML/CFT regulations for Forex Firms
State Bank of Pakistan on Tuesday amended Anti-money laundering (AML) and Counter Financing of te...
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China Postpones New AML Rules Amid Privacy Concerns and Pushbacks
China has delayed the introduction of new rules for due diligence as financial institutions requi...
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Australia to Ban Credit Cards for Online Gambling to Prevent Payment Fraud
The Australian government will soon ban online gambling with credit cards. The government will in...
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Bahrain sentences three money-laundering suspects to prison
Bahrain fined three suspects of $9 million and sentenced them to prison in the Future Bank case. ...
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“Cybercriminals are Tampering with QR Codes to Redirect Victims”, FBI Warns
The Federal Bureau of Investigation (FBI) has issued a warning regarding Malicious QR codes that ...
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Council of Europe Urges Montenegro to Step Up AML Measures
The Council of Europe stated in a recent report that Montenegro lacks sufficient measures to inve...
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New Zealand Forces Banks To Strengthen Their Security Measures
New Zealand’s parliamentary committee has urged banks and financial institutes to bolster their s...
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Prevailing Financial Crimes Make London a Safe Haven for Money Launderer
The UK’s capital is exposed to multiple financial crimes including money laundering and thefts wi...
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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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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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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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Canadian Anti-Money Laundering Agency Fines RBC $7.4M
Canada’s anti-money laundering regulatory body imposed a C$7.4 million penalty on the Royal Bank ...
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AUSTRAC Throws in Hands in their Fight Against Money Laundering through Casino Junk Operators
Australian regulatory bodies to fight financial crimes have known for quite a time that casino ju...
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$320 Million Worth of Cryptocurrency Stolen in Wormhole Hack
A recent hack on one of the most popular blockchain bridges linking Ethereum and Solana led to th...
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US Authorities Government Announce Limitations to Crypto Industry to Combat Money Laundering
The US officials stated they will limit cryptocurrency firms’ operation in the country if 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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US Authorities Impose Anti-Money Laundering Crackdown on Offshore Lenders
The US Financial Crimes Enforcement Network (FinCEN) threatened offshore lenders with Anti-Money ...
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eCommerce Lost £16 Million in Frauds During Lockdown
The UK’s national reporting centre for fraud and cybercrime has revealed new figures which show £...
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Video KYC: The New Normal in the Insurance Industry
Since everything is moving to digital platforms, the Insurance Regulatory and Development Authori...
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Amendments in Thailand’s Money Laundering Act to Include New Offenses
A proposed amendment in Thailand’s Money Laundering Act was approved by the cabinet to include ad...
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Bank of Ghana Issues New Guidelines for AML and CTF
The Bank of Ghana (BOG) has introduced new directives on Anti Money Laundering/Combating the Fina...
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SEC Charges $79 Million Penalties on Broker Companies for Deficiencies in Recordkeeping
The Security and Exchange Commission (SEC) has imposed $79 million worth of penalties on brokerag...
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SA Government Passes New Legislation to Avoid FATF Gray list
South African government has passed two crucial legislations to prevent potential greylisting by ...
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Money Service Businesses Tighten AML/CFT Measures Amid Challenges
Microfinance firms, remittance services, and cambios have reported success in upgrading AML/CFT m...
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National Treasury of Kenya Urges Companies to Hire Anti-Money Laundering Officers
Kenya’s National Treasury Department forced financial and specified non-financial institutes to o...
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Lithuanian Government Approves Amendment to Strengthen Digital Currency Regulations
Lithuania is on the verge of becoming the first country in Europe to pass strict laws on digital ...
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Cybercrimes in UK have ‘doubled’ in past five years
Large businesses remain most at target but SMBs have seen the steepest rise in successful cyber a...
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EBRD and Central Bank of Jordan Raise Awareness Against Financial Crime
EBRD and the Central bank of Jordan join hands in running campaigns to raise awareness for the tr...
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UK to Apply Digital Identity Verification Across Government Services
Michael Gove, Cabinet Office Minister has written to Whitehall departments about obligating the u...
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Singapore Passes Stringent Regulations to Clamp Down on Money Mules
Singapore has passed stringent regulations to clamp down on money mules and those who give contro...
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Cyprus Updates Money Laundering Measures to Supervise Crypto Platforms
Cyprus reshaped its anti-money laundering measures by amending the “Prevention and Suppression of...
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Rise in Fraud from COVID-19 Bounce Back Loan Scheme
Fraudsters are stealing the money around £400M from taxpayers in the UK through the support loans...
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UAE Receives Observer Status at APG For Money Laundering
UAE becomes the first Arab country receive an observer status at the Asia/Pacific Group of Money ...
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EGBA Introduces New Guidelines to Prevent Money Laundering in Gaming Industry
EGBA (European Gaming and Betting Association) has announced new guidelines to improve the anti-m...
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SEC Partners with Government Agencies and Philippines Police to Combat Money Laundering
The SEC signed a data-sharing agreement with the Philippines police and other government agencies...
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South Africa Issues Stricter Guidelines for Crypto Traders
To prevent the surging cases of financial crime, South Africa has introduced rigid regulations fo...
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Congress to Pass Urgently Needed AML & Whistleblower Protections Against Russian Oligarchs
Congress is close to passing urgently required AML and whistleblower protections targeting Russia...
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Monetary Authority of Singapore to Take Tougher Action Against Data Breaches
To address the data privacy concern, MAS has recommended that data privacy offences should be mad...
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