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Digital IDs Becoming Useful for Fighting Financial Crimes
The use of digital IDs has proved to be advantageous for fighting financial crimes. Research has ...
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Coincheck customers fall victim to a data breach
In 2018, Coincheck, the Japanese firm, fell victim to probably the largest cryptocurrency hack in...
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South Korea FSC Identifies 14 ‘Fake’ Crypto Accounts Held by VASPs
All crypto accounts in South Korea are directed to register under their real names. Third-party b...
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Nigerian Parliament Strengthens AML/CTF Laws for Real Estate Industry
Nigerian real estate regulatory authority to mandate businesses to comply with AML/CTF compliance...
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US Regulators to Sharpen AML Expectations For Crypto Sector
The US regulators are increasing the AML compliance expectations within the crypto sector to ensu...
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Data Security at Risk Due to the Fake Lending Apps
Gained network access, pictures, and contact information are at threat due to the fake lending ap...
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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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BSP Seeks to Tighten Rules on Reporting ML/TF Threats
The Bangko Sentral ng Pilipinas (BSP) is seeking to tighten guidelines on reporting threats relat...
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Britain Court Urges Binance for Better Financial Crime Prevention
The Court of London in an order emphasised that Binance should develop policies and procedures to...
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BC Law Society Holds Honorary Consul of Ukraine Accountable for Failure to Prevent Money Laundering
BC Law Society holds Ukraine’s Honorary Consul accountable for failing to prevent money launderin...
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Consumers Lost €15.6M to Impersonation, Investment, and Romance Scams
Approximately 70% of Irish consumers have been targeted by some form of identity scam, according ...
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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...
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Feds Bust Columbian Drug Cartel’s Scheme to Launder “Millions” Through US Banks
A Columbian drug cartel’s scheme was busted by the federal prosecutors who moved millions through...
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British Government Prepares Task Force to Halt Financial Crimes
After observing a 70% increase in push-payment fraud, the UK’s government has devised a tas...
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FBI Warns About the Emerging Fraud Related to COVID-19 Vaccine
The Office of Inspector General, U.S Department of Health and Human Services, FBI, and Centers fo...
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Singapore Proposes Additional AML/CFT Requirements for FIs
Monetary Authority Singapore has issued a consultation paper proposing the scope of AML/CFT to be...
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The UK Introduces New Bill to Combat Identity Fraud and Financial Crime
The UK government has launched a bill to prevent the flow of dirty money through its economy by c...
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Philippines: Banks Reminded to Closely Monitor and Report Suspicious Transactions
Philippines ramps up efforts to step out of the FATF’s grey list and reminds banks to monitor and...
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UAE Firms Must Disclose UBO’s to Avoid Dirty Money Watch List
500,000+ firms in the UAE (United Arab Emirates) face disclosure of their Ultimate Beneficial Own...
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UAE to Issue Federal Licenses to VASPs in Efforts to Embrace Crypto
The UAE is gearing up to issue federal licenses to virtual asset providers (VASPs) within a matte...
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China Strides Forwards with New KYC Rules to Rein Money laundering
China is stepping up to fight its long-running battle against financial crimes such as money laun...
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New White House Standards Strategy May Affect Crypto Industry KYC Regulations
President Biden’s administration unveiled a national standards strategy on May 4, outlining eight...
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Swedbank Fined And Remains Under Investigation by US Authorities
As Danske Bank awaits judgment by US regulators for being involved in Europe’s largest-ever money...
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SEC Orders Finance, Lending Companies to Submit AML Plans by 21 June
Philippine’s SEC has ordered all financing and lending companies to submit their plans for the im...
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B.C. Real Estate Company Fined $230K for Multiple AML Violations
Nu Stream Realty Inc. has been fined $230,423 for failure to comply with federal Anti-Money Laund...
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Russians Approach UAE’s Crypto Firms in Search of Safe Havens
The UAE’s crypto firms and real estate sector are being used by Russians as safe havens to liquid...
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Former NFL Player Guilty of Identity Theft, COVID-19 Relief Fraud
Ex NFL player has been found guilty to one count of unauthorized access device fraud and one coun...
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European Banking Authority Issues Latest Regulations on Crypto Travel Rules
The European Banking Authority (EBA) announced the new consultation process to implement the cryp...
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FCA Takes NatWest to Court over Money Laundering Charges
The National Westminster Bank has been accused of neglecting the anti-money laundering regulation...
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DC lawyers can now accept crypto for legal fees
According to a report by Bloomberg Law, cryptocurrency can now be used to pay for legal services ...
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UAE Starts to Scrutinize Businesses to Ensure KYC/AML Compliance
The UAE’s Ministry of Economy now starts the inspections of Designated Non-Financial Businesses a...
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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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Clubs to Adopt Digital Wallets as NSW Reveals Money Laundering Via Machines
The clubs in Australia are to adopt the digital wallet for poker machines as the regulators disco...
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Cambodia and Thailand Police Forces Unite Against Money Laundering and Terrorist Financing
The Cambodian and Thailand National Police officers partner to bolster their strength against mon...
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FIU in Sri Lanka Penalises Financial Firms over AML/CFT Non-Compliance
Sri Lanka’s Financial Intelligence Unit (FIU) has recently penalised two financial institutions i...
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Thousands of NSW driver’s licenses exposed online in a data breach
Last week, tens of thousands of NSW driver’s licenses were left exposed online. The breach was ac...
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UK court orders crypto exchange to shut down after clients lose $2M
In a recent statement, the U.K. government stated that 108 of their clients had lost a total of a...
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Man Arrested For Stealing Identities, Funding 1800 Online Gambling Accounts
The man suspected of stealing other’s identities to create online gambling accounts has finally b...
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FIU Highlights the Risks of Money Laundering in Estonia Due to VASPs
FIU has highlighted in its annual report the risk of money laundering and terrorist financing in ...
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“Beneficial Ownership Data Must be Structured, Centralised and Accessible”, Says GCFFC
According to the paper issued by the GCFFC, data must be structured, centrally collated, interope...
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BC Money Laundering Inquiry Report Calls for New Law Enforcement Unit
BC has released a money laundering report that carries multiple recommendations and includes the ...
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EU Lawmakers to Initiate Discussions on AML Laws for Bitcoin, Ethereum & More
The EU’s parliament, commission, and council are set to initiate discussions on the issue of anti...
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FCIU Uncovers Money Laundering Patterns Through Social Media Scams
South Yorkshire law enforcement authority has seized EUR 70,000 placed in the illicit gambling ac...
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Indian Brokers Under Investigation for Alleged Money Laundering and Identity Theft
Three of the most prominent brokers in the country have come under scrutiny from numerous regulat...
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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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£2 Million of Suspected Money Laundering Assets Seized by Royal Gibraltar Police
Following information from a Spanish law enforcement agency, the Royal Gibraltar Police have init...
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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,...
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Personal Privacy Concerns Raised over FinCEN’s Proposed Crypto Rules
The advocacy group in their latest comment has disregarded the proposed regulatory requirements b...
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Scammers Set to Defraud this Holiday Season, FBI Warns!
This holiday season, New Mexican shoppers are at risk of facing scammers. Criminals are all set t...
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Coinbase Agrees to $100Million Settlement with NYDFS for AML Violations
Coinbase, The American cryptocurrency exchange platform, has agreed to pay $100 million in a sett...
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FCA Emphasises on Companies to Invest in Compliance Program
The U.K’s financial crime investigation agency is now taking steps that will involve the companie...
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Digital Currency ‘Sand Dollar’ Launched by the Bahamas
The Central Bank of the Bahamas (CBOB) has introduced a digital version of the Bahamian dollar, s...
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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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Morocco’s Parliament Unanimously Approves the Bill to Amend AML Regulations
The House of Representatives of Morocco has unanimously agreed to pass the bill to amend the anti...
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ICAIE Issues Report on Trade-Based Money Laundering in Free Trade Zones, Ports, & Safe Havens
The ICAIE released a new report called “The Dark Side of Illicit Economies and TBML: Free T...
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FATF to Publish Revised Guidelines For Virtual Assets Service Providers
The Financial Action Task Force is all set to publish updated guidelines on virtual assets on Oct...
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Turkey to Face FATF’s Gray List Over Inadequate AML Practices
FATF is set to grey list Turkey over AML shortcomings, a move that is likely to affect the countr...
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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...
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Swedish Gaming Authority Fines Kindred, ATG, and PinBet for AML Failures
Swedish gaming authority has fined Kindred, ATG, and PinBet £1.4m, €1.7m, and $1.8m, respectively...
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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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Internet infrastructure industry plans on ensuring internet trust amidst COVID-19 outbreak
As a global crisis emerges due to the Coronavirus outbreak, and global population practices socia...
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US Attorney’s Office Charges New York’s Oldest Mafia Clans for Money Laundering Scheme
The US Attorney’s office has accused the two of New York’s oldest mafia clans for laundering mone...
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HMRC Fines Real Estate Agencies £500,000 for Anti-Money Laundering Violations
HMRC has issued a total of £519,645 in fines to 68 estate agents that failed to comply with rule...
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Ontario’s Casinos Need to Strengthen Efforts to Curb Money Laundering
According to Auditor General Bonnie Lysyk, Ontario’s casinos need to strengthen efforts in order ...
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UK Publishes First National Risk Assessment of Proliferation Financing
The UK is at a high risk of proliferation financing for Korea and Iran, while UK financial instit...
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The number of Bitcoin ATMs has increased to 8,000
The total number of Bitcoin ATMs across the world have crossed 8,000.
The United States has more...
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UK Issues Crypto Framework for ICOs, Stablecoins, Exchanges and Regulators
The report covers crucial aspects of crypto regulation, aiming to foster growth in the sector wit...
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Singapore Authorities Investigates Bank’s Role in $1.8B Money Laundering Case
Singapore’s central bank started an investigation against banks involved in a $1.8b global wealth...
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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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Singapore Government Discloses Modified Regulatory Measures for Stablecoins
Singapore’s Central Bank has disclosed upgraded regulatory guidelines for stablecoins to keep cry...
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UAE Praises Singapore’s S$2.8b Financial Crime Bust
The director-general of UAE anti-money laundering and counter-terrorism financing commends Singap...
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£2 Million of Suspected Money Laundering Assets Seized by Royal Gibraltar Police
Following information from a Spanish law enforcement agency, the Royal Gibraltar Police have init...
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