The Top 10  Most Difficult Countries for Identity Verification

The Top 10  Most Difficult Countries for Identity Verification

Download Report

    n-img-roi-cross

    Before You Go, Schedule Your Free Demo Today

    Valid Invalid number


    Note: Fields marked with an asterisk(*) are mandatory.

    n-exit-img-roi-cross

    Thank you for your demo request

    We appreciate your interest and look forward to discussing how our solution can meet your needs. Expect to hear from us shortly with scheduling details.

    Close

    us

    18.97.9.100

    Sweden Points Out the Rising Cases of Money Laundering in Gaming Industry

    Gaming

    Financial Police of Sweden has revealed a report that highlights more than 700 cases of money laundering in the jurisdiction that involved the use of gaming companies in 2020.

    According to the report, with 705 cases in total, there has been a rise of 14.8% in money laundering from 2019 which reported 614 cases in total. 

    The Gambling regulators in Sweden say that only half of the licensed operators in the jurisdiction have provided the authorities with the report. This indicates that there has been under-reporting as well from the gaming Industry. 

    The regulatory body has pointed out that this report is just a suspicion and it does not mean that the gaming company has proof of the money laundering activity taking place. However, the companies have reason to believe that the deposited money has been funded through criminal activities. 

    Due to the coronavirus pandemic, the country has seen a rise in online gambling and gaming in 2020 as the on-premises facilities were closed. The Financial Police have used this reason to explain the rise in the money laundering reports from 2019 to 2020. 

    The police have also pointed out due to the regulations introduced last year, like the controversial SEK5,000 weekly deposit limit, more customers are forced to use the means of unlicensed offshore operators. 

    The Finance Police reports, “The sums reported as suspicious are usually between SEK10,000 (£845/€988/$1,174) and SEK100,000 and these reports were made by 27 gaming companies in 2020, compared to 30 in 2019.” It said that “The next year may carry with it an increased risk of money laundering via gaming companies, as more players opt to use offshore operators which are not subject to Swedish money laundering regulations.”

    Several measures have been taken to curb the rise in money laundering taking place. These measures include increased control over the funds being deposited or being transferred from gaming accounts and a close monitor of the gaming patterns to look for any suspicious activities. Further measures involve the due diligence of the holder of the gaming account and to ensure that they are also the holder of the bank account linked to it. This is done to avert identity theft. Supervision and training of the gaming operators and control of licensees have also been increased. 

    Related Posts

    News

    Atomic Wallet Hack Results in $35 Million Loss as Investigation Continues

    Atomic Wallet users have reported losing millions of dollars worth of cryptocurrency. It was anno...

    Atomic Wallet Hack Results in $35 Million Loss as Investigation Continues Explore More

    News

    Monetary Authority of Singapore (MAS) Fines Four Financial Institutions for Breaching AML Laws

    A fine of S$3.8 million (Singapore dollar) was handed down by the Monetary Authority of Singapore...

    Monetary Authority of Singapore (MAS) Fines Four Financial Institutions for Breaching AML Laws Explore More

    News

    MALACAÑANG Orders Relevant Government Agencies to Implement Anti-Money Laundering Plans and Programs

    Aiming to exit the Financial Action Task Force’s (FATF) grey list by January 2024, MALACAÑANG Pal...

    MALACAÑANG Orders Relevant Government Agencies to Implement Anti-Money Laundering Plans and Programs Explore More

    News

    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...

    AUSTRAC Hits Military Bank with Enforcement Action to Ensure AML Compliance Explore More

    News

    e-KYC services introduced in Malaysia by InstaREM

    Residents and expatriates in Malaysia can now make overseas payments safely and regularly through...

    e-KYC services introduced in Malaysia by InstaREM Explore More

    News

    Ransomware gang strikes three companies in the US and Canada

    The well-known ransomware group REvil has initiated another series of attacks targeting three com...

    Ransomware gang strikes three companies in the US and Canada Explore More

    News

    Turkey to Ban Cryptocurrency Payments to Avoid Financial Crime

    The Central Bank of Turkey is to ban the use of cryptocurrency payments by 30th April. This initi...

    Turkey to Ban Cryptocurrency Payments to Avoid Financial Crime Explore More

    News

    Over 6000 BVNs Under Scrutiny for Fraudulent Transactions, Reveals CBN

    The Central Bank of Nigeria (CBN) has revealed that more than 6000 Bank Verification Numbers (BVN...

    Over 6000 BVNs Under Scrutiny for Fraudulent Transactions, Reveals CBN Explore More

    News

    Singapore Seizes $2 Billion Worth of Assets in Money Laundering Investigation

    Singaporean regulatory authorities officials accused lax immigration policies of large inflows of...

    Singapore Seizes $2 Billion Worth of Assets in Money Laundering Investigation Explore More

    News

    Unlisted Crypto Exchange, JPEX, Investigated for Criminal Charges by SFC

    The Hong Kong Security and Futures Commission (SFC) warned an unlisted crypto exchange platform, ...

    Unlisted Crypto Exchange, JPEX, Investigated for Criminal Charges by SFC Explore More

    News

    Council of Europe Shows Support to Serbian Authorities For Combating Money Laundering

    The Council of Europe stays dedicated to showing support to authorities for fighting money-launde...

    Council of Europe Shows Support to Serbian Authorities For Combating Money Laundering Explore More

    News

    A lawsuit is filed against LifeLabs for a data breach incident

    As reported earlier, the Canadian laboratory testing company, LifeLabs was hit with a cyber-attac...

    A lawsuit is filed against LifeLabs for a data breach incident Explore More

    News

    Turkish Regulatory Authorities Launch Investigation on Social Media Influencers for Money Laundering

    Turkey’s Minister of Social and Labour Security Department stated they are conducting an in-depth...

    Turkish Regulatory Authorities Launch Investigation on Social Media Influencers for Money Laundering Explore More

    News

    Zoom improves user security by incorporating 2FA for all users

    Zoom confirmed adding 2-factor authentication (2FA) for all the users of the platform. This marks...

    Zoom improves user security by incorporating 2FA for all users Explore More

    News

    SEC Warns Philippines Companies on Lack of AML Compliance

    The Securities Exchange Commission (SEC) warned that it would enforce the Revised Corporation Cod...

    SEC Warns Philippines Companies on Lack of AML Compliance Explore More

    News

    Philippine Gaming Watchdog to Make Every Effort to Remove From FATF’s Gray List

    The Philippine Amusement and Gaming Corporation (PAGCOR) has stated that it will make every effor...

    Philippine Gaming Watchdog to Make Every Effort to Remove From FATF’s Gray List Explore More

    News

    CSSF Imposed a €226,000 Fine on Maitland Over AML Compliance Failure

    Maitland Luxembourg SA received a penalty of €226,000 over anti-money laundering and customer due...

    CSSF Imposed a €226,000 Fine on Maitland Over AML Compliance Failure Explore More

    News

    Home Office Reveals 20% of UK Businesses are Affected by Fraud

    An extensive survey of thousands of businesses between 2018 and 2022 determined that one in five ...

    Home Office Reveals 20% of UK Businesses are Affected by Fraud Explore More

    News

    SMEs Decry Registration Hurdles Owing to SCUML Certificate

    SMEs have decried hurdles in opening business/corporate accounts due to the Anti Money Laundering...

    SMEs Decry Registration Hurdles Owing to SCUML Certificate Explore More

    News

    New York Files Lawsuit Against Juul Following California and North Carolina

    New York state is joining California and North Carolina in suing e-cigarette company, Juul, on th...

    New York Files Lawsuit Against Juul Following California and North Carolina Explore More

    News

    Brazil to Become a Part of OECD and Plans to Launch IPO for Its Digital Bank

    During a virtual event on Tuesday, Paulo Guedes, Brazil’s Minister of Economy, announced that the...

    Brazil to Become a Part of OECD and Plans to Launch IPO for Its Digital Bank Explore More

    News

    BSP Seeking to Mandate e-KYC For Financial Institutions

    The draft circular suggests obligatory e-KYC processes, including identity verification and custo...

    BSP Seeking to Mandate e-KYC For Financial Institutions Explore More

    News

    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) ...

    UAE Confiscates Dh4.73 Bn Worth of Assets in Fight Against Financial Crimes Explore More

    News

    Aussies Lost Record-breaking $851 million During COVID-19: ACCC Reports

    Amid the pandemic, Australians lost a record-breaking amount of $851 million in 2020. According t...

    Aussies Lost Record-breaking $851 million During COVID-19: ACCC Reports Explore More

    News

    “We Reaffirm Our Full Support for FATF’s Efforts Against Financial Crime” – G20 Leaders

    According to the Rome Declaration, G-20 leaders ensure full support to back FATF recommendations ...

    “We Reaffirm Our Full Support for FATF’s Efforts Against Financial Crime” – G20 Leaders Explore More

    News

    China Raises Penalty, Broadens Scope of AML Laws

    The People’s Bank of China (PBOC) has published a revised draft for the country’s AML law which e...

    China Raises Penalty, Broadens Scope of AML Laws Explore More

    News

    Ukraine to Scale-up Fight Against Financial Crimes

    Ukraine’s Cabinet of Ministers has approved a plan that will strengthen the measures to prevent f...

    Ukraine to Scale-up Fight Against Financial Crimes Explore More

    News

    AUD 10 Billion Money Laundering Ring Caught in Australia, Further Highlighting the Country’s AML Failures

    AUD 10 billion ($6.5 billion) in global money laundering was allegedly uncovered in Sydney by the...

    AUD 10 Billion Money Laundering Ring Caught in Australia, Further Highlighting the Country’s AML Failures Explore More

    News

    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...

    Monetary Authority of Singapore to Take Tougher Action Against Data Breaches Explore More

    News

    Court Filing Reveals that Hundreds of Roblox users Are Laundering Money Using In-Game Currency

    Roblox, one of the popular video game platforms having over 58 million users, is being used to la...

    Court Filing Reveals that Hundreds of Roblox users Are Laundering Money Using In-Game Currency Explore More

    News

    US Senator Joe Manchin Introduces Digital Asset Anti-Money Laundering Act to Curb Unauthorised Crypto Flow

    US Senator Joe Manchin, along with Senators Roger Marshall, Lindsy Graham, and Elizabeth Warren, ...

    US Senator Joe Manchin Introduces Digital Asset Anti-Money Laundering Act to Curb Unauthorised Crypto Flow Explore More

    News

    Guyana plans Amending Anti-Money Laundering Legislation

    The government of Guyana is looking to amend the AML/CFT legislation in the National Assembly to ...

    Guyana plans Amending Anti-Money Laundering Legislation Explore More

    News

    US Treasury Holds Back AML Reforms Despite Money Laundering Through Art Industry

    The US Treasury Department has found the country’s art market to be vulnerable to financial crime...

    US Treasury Holds Back AML Reforms Despite Money Laundering Through Art Industry Explore More

    News

    Monetary System of Nation-States at Systematic Risk due to Stablecoins, Says FSB

    With the introduction of global stablecoin like Facebook’s Libra, G20’s watchdog, the Financial S...

    Monetary System of Nation-States at Systematic Risk due to Stablecoins, Says FSB Explore More

    News

    US Launches National Cryptocurrency Enforcement Team

    The National Cryptocurrency Enforcement Team will aid the US Department of Justice (DOJ) in disma...

    US Launches National Cryptocurrency Enforcement Team Explore More

    News

    Rabobank’s Profits Drop Over Shut Down in Russia and Increased AML Costs

    Dutch Cooperative Rabobank revealed that its profit plunged more than a quarter in the first half...

    Rabobank’s Profits Drop Over Shut Down in Russia and Increased AML Costs Explore More

    News

    Lloyds Bank of UK Issues Warning Over Increasing Threat of Crypto Scams

    Lloyds Bank revealed a rise in cryptocurrency investment scams and reported a 23% increase compar...

    Lloyds Bank of UK Issues Warning Over Increasing Threat of Crypto Scams Explore More

    News

    NAB Chief Urges Government to Reconsider Fines for Large Data Breaches

    The Chief of NAB Ross McEwan has urged the government that penalties for data breaches charged as...

    NAB Chief Urges Government to Reconsider Fines for Large Data Breaches Explore More

    News

    Star Entertainment Group Hit with Record Fine of $100M for Money Laundering

    Australia’s gambling giant Star Entertainment Group has been charged $100 million for failing to ...

    Star Entertainment Group Hit with Record Fine of $100M for Money Laundering Explore More

    News

    Amazon Warns UK Customers Over Rising Threat of Impersonation Scams

    Amazon has cautioned UK customers about the rising threat of impersonation scams via phone calls,...

    Amazon Warns UK Customers Over Rising Threat of Impersonation Scams Explore More

    News

    The US Treasury Department OFAC Enforces Whistleblower Programmes

    According to the US Treasury’s Department Office of Foreign Assets Control (OFAC), companies must...

    The US Treasury Department OFAC Enforces Whistleblower Programmes Explore More

    News

    Pandemic Fraud Crackdown: US Bank Employees Indicted Over Document Fraud

    Bank employees and tax preparers fraudulently applied for $3M+ in pandemic relief loans through f...

    Pandemic Fraud Crackdown: US Bank Employees Indicted Over Document Fraud Explore More

    News

    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...

    US Imposes First-Ever Sanctions on Bitcoin Mixer for Money Laundering Explore More

    News

    Conveyancers Used for Laundering Millions of Pounds across the UK

    Government warns that hundreds of millions of pounds are being laundered by criminals across the ...

    Conveyancers Used for Laundering Millions of Pounds across the UK Explore More

    News

    Blockchain officially becomes part of China’s tech strategy

    According to the National Development and Reform Commission (NDRC), China will use Blockchain to ...

    Blockchain officially becomes part of China’s tech strategy Explore More

    News

    UAE Judges Discuss Steps Taken by Authorities to Strengthen AML Controls

    UAE’s senior judges outline the legal actions taken by authorities to strengthen anti-money laund...

    UAE Judges Discuss Steps Taken by Authorities to Strengthen AML Controls Explore More

    News

    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...

    UAE Issues Deadline for Businesses to Register for AML System Explore More

    News

    24 scammers arrested on money laundering charges

    Government officials have arrested over 24 money laundering suspects due to an online fraud opera...

    24 scammers arrested on money laundering charges Explore More

    News

    Biden’s Administration Announces New Timeline for AML Initiative and Beneficial Ownership Rules

    FACT’s anti-money laundering efforts are updated in the Biden Administration’s Spring 2023 Regula...

    Biden’s Administration Announces New Timeline for AML Initiative and Beneficial Ownership Rules Explore More

    News

    New Bitcoin scam hits Canada

    According to a report, a supposed Bitcoin (BTC) scam is now targeting residents of Winnipeg, Cana...

    New Bitcoin scam hits Canada Explore More

    News

    Failure to Join FATF Will Increase Economic Pressure

    According to a top diplomat, Iran’s refusal to comply with the requirements of the Financial Acti...

    Failure to Join FATF Will Increase Economic Pressure Explore More

    News

    Data of Half-Million Chicago Students Exposed in a Ransomware Attack

    The personal information of more than half a million Chicago students and the staff was accessed ...

    Data of Half-Million Chicago Students Exposed in a Ransomware Attack Explore More

    News

    Nigeria: Senate Bans Establishment and Operations of Shell Banks

    The Senate is banning the establishment and operations of shell banks in Nigeria as an attempt to...

    Nigeria: Senate Bans Establishment and Operations of Shell Banks Explore More

    News

    Luxembourg Updates AML Laws for Verification of Beneficial Ownership

    Luxembourg has amended its Anti-Money Laundering regulation requiring practitioners to identify b...

    Luxembourg Updates AML Laws for Verification of Beneficial Ownership Explore More

    News

    Australia introduces new rules to tackle mobile identity theft

    Acma (Australian Communications and Media Authority) has introduced a new regulation to fight ide...

    Australia introduces new rules to tackle mobile identity theft Explore More

    News

    Sri Lanka’s blockchain KYC platform to initiate ‘Shortly’: Central Bank

    According to Daily Mirror Online, the Monetary Board has now finalized three software development...

    Sri Lanka’s blockchain KYC platform to initiate ‘Shortly’: Central Bank Explore More

    News

    American Gaming Association Updates Best Practices for AML

    The American Gaming Association (AGA) has released updated “Best Practices for Anti-Money Launder...

    American Gaming Association Updates Best Practices for AML Explore More

    News

    International Student Sues Commonwealth Bank for Money Laundering Scam

    An Indonesian student and her family sued the Commonwealth Bank as they lost millions of dollars ...

    International Student Sues Commonwealth Bank for Money Laundering Scam Explore More

    News

    Singapore replaces passwords and ID documents with facial recognition systems

    As reported by Strait Times, Singapore plans to replace passwords and identity documents with bio...

    Singapore replaces passwords and ID documents with facial recognition systems Explore More

    News

    Livestreaming Helps Shanghai Police Crack Money Laundering Case

    There has been an arrest of a live streamer by Shanghai police who had been tipped off by a live ...

    Livestreaming Helps Shanghai Police Crack Money Laundering Case Explore More

    News

    US to Rigorously Implement Anti-Money Laundering in Crypto

    A rule requiring cryptocurrency firms to share data about their customers will be strictly implem...

    US to Rigorously Implement Anti-Money Laundering in Crypto Explore More

    News

    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...

    Sweden Points Out the Rising Cases of Money Laundering in Gaming Industry Explore More

    News

    ECB Releases Paper Revealing Financial Crime Risks in Cross-border Payments

    ECB has released a paper that reveals the financial risks associated with cross-border payments, ...

    ECB Releases Paper Revealing Financial Crime Risks in Cross-border Payments Explore More

    News

    HKMA Fines Four Banks with $5.7 Million for AML Failings

    Hong Kong’s financial regulator has imposed fines on four banks with a combined amount of $5.7 mi...

    HKMA Fines Four Banks with $5.7 Million for AML Failings Explore More

    News

    RBI to Strengthen KYC Guidelines for the Crypto Industry

    IndiaTech has suggested enhancing the KYC guidelines and obligating the cryptocurrency industry t...

    RBI to Strengthen KYC Guidelines for the Crypto Industry Explore More

    News

    65,000 Australian Credit Cards Discovered on Dark Web

    A significant proportion of stolen credit cards contained private information such as addresses, ...

    65,000 Australian Credit Cards Discovered on Dark Web Explore More

    News

    Banks take measures to serve customers amid COVID-19

    The banking industry is stepping up to serve customers as well as their employees as the Coronavi...

    Banks take measures to serve customers amid COVID-19 Explore More

    News

    Anti-Fraud Experts Advise the CBN to Reconsider its Decision to Ban Crypto

    One year after the Central Bank Nigeria (CBN), imposed a ban on digital currencies, anti-fraud ex...

    Anti-Fraud Experts Advise the CBN to Reconsider its Decision to Ban Crypto Explore More

    News

    Facial Recognition Market to Grow 12.5% Annually Through 2024

    According to a new report by Mordor Intelligence, the facial recognition market is expected to gr...

    Facial Recognition Market to Grow 12.5% Annually Through 2024 Explore More

    News

    Real Estate Money Laundering Rises, KCB Dragged to Court for AML Breach

    Real Estate development and construction company Tirupati Development Limited has dragged KCB Ban...

    Real Estate Money Laundering Rises, KCB Dragged to Court for AML Breach Explore More

    News

    Betting and Gambling Council Host AML Training for Gambling Industry

    During the Gambling Anti-Money Laundering Group (GAMLG) training day on September 6th, the Bettin...

    Betting and Gambling Council Host AML Training for Gambling Industry Explore More

    News

    IMF Warns Nigeria on Risks Arising from Central Digital Currency eNaira

    The IMF has warned the Central Bank of Nigeria (CBN) about the risks of money laundering and terr...

    IMF Warns Nigeria on Risks Arising from Central Digital Currency eNaira Explore More

    Take the next steps to better security.

    Contact us

    Get in touch with our experts. We'll help you find the perfect solution for your compliance and security needs.

    Contact us

    Request demo

    Get free access to our platform and try our products today.

    Get started