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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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FATF Urges Member Countries To Lead by Example in Implementing Travel Rule
The global financial watchdog FATF has urged countries to implement the travel rule in the legisl...
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President of Argentina Open to CBDC Adoption but Central Bank Says No
Alberto Fernandez, President of Argentina showed openness to adoption of Bitcoin and Central Bank...
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$8 Million Worth of Crypto Stolen From BitKeep Wallets
Cryptocurrencies worth $8 Million, including Binance Coin, Tether, Dai, and Ether, were stolen fr...
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The Ringleader of a Crypto-Ponzi Scheme Arrested After a Flee Attempt
Mathew Piercey, a Ponzi scheme leader who defrauded $35 million for crypto mining and other inves...
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Nigeria’s EFCC Devoted to Combating Money Laundering in Real Estate Sector
The Economic and Financial Crimes Commission chairman says that the agency is committed to fighti...
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FCA Reviews UK Small Trade Finance Lenders to Ensure Compliance
FCA is reviewing UK’s small trade finance lenders to assess their due diligence, risk assessment,...
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Central Bank of Nigeria (CBN) Gives Financial Institutions 30 day Deadline to Close Accounts Without Bank Verification (BVN)
Financial institutions and banks have been given a 30 days notice period by the Central Bank of N...
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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 ...
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FATF Issues Guidance for AML/CFT Digitization of FIUs
FATF published a report in collaboration with the Egmont group discussing why and how FIUs should...
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US drug agency failed to properly oversee crypto investigations
It was published in the IG report, which is an audit of “income-generating, undercover operations...
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Latvia’s Bank Rietumu Fined EUR 5.85M Over Money Laundering Failures
The Financial and Capital Market Commission has fined Bank Rietumu EUR 5.85 million over failures...
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FATF Calls for Urgent Implementation of Crypto Information Sharing Mechanisms
FATF has published a report to call on the countries to the implementation of travel rules to und...
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Online fraudsters steal £17m over COVID-19 lockdown
About £17 million have been lost due to online fraud over the Coronavirus lockdown period with yo...
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FIAU Fines Crypto Firm €460,000 for Anti-Money Laundering Violations
FIAU (Financial Intelligence Analysis Unit) charged a crypto exchange and broker with a €463,235 ...
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Economic & Financial Crime Bureau Gets Legal Powers as an Independent Authority
The Economic & Financial Crime Bureau and Financial Intelligence Unit [Bailiwick of Guernsey]...
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NGOs Advised on Due Diligence to Tackle Terrorism Financing
The Financial Crimes Commission’s SCUML has advised Non-Governmental Organizations (NGOs) to cond...
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People’s Bank of China to Monitor Metaverse and NFTs
The Chinese financial watchdogs are all set to expand cryptocurrency crackdown as Gou Wenjun sugg...
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Central Bank of UAE Issues Updated Guidance For Licensed Financial Institutions
CBUAE issues updated guidance for licenced financial institutions on growing risks of money laund...
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Ransomware attacks increase as more people work from home
According to a study published by the cybersecurity firm, Proofpoint, there has been an increase ...
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Hong Kong Police Seizes $65 Million From Triad Controlled Money Laundering Ring
Hong Kong police detained 458 people and seized $65 million in connection with an extensive crim...
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Actor Behind $650M Ponzi Scheme Set to Face 20-Year Jail Time
The actor was arrested on account of wire fraud, identity theft, securities fraud, and executing ...
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FATF puts South Africa and Nigeria on Anti Money Laundering Gray list
The global financial watchdog puts Africa’s two biggest economies on Anti-money laundering grey l...
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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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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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UKGC Imposes EUR 780K Fine on Buzz Bingo for AML Failure
Buzz Bingo has been fined £780,000 by the UK Gambling Commission (UKGC) for social responsibility...
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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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Facebook affirms Libra commitment with new job openings
According to the Irish Times. Facebook is planning to hire 50 people for its payment app Calibra ...
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North Korean bankers charged in $2.5 billion money-laundering scheme
The US Department of Justice recently revealed criminal charges against about twenty-four North K...
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Falklands and Gibraltar Still on Spanish ‘Tax Haven’ List, Says Report
The official Spanish Gazette published a list which consists of Falklands/Malvinas and Gibraltar ...
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European parliament imposes ban on facial recognition technology
Following a public outcry after the leak of an internal memorandum discussing the utilization of ...
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Hong Kong Police Reveals 822 Romance Scams Occurred in 1H of 2021
The Hong Kong Police has advised the public to remain cautious when meeting people online due to ...
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FATF Urges Japan to Implement Stronger AML Measures
The FATF mutual evaluation report on Japan proposes the formation of a joint-agency body to enhan...
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Exchanges in Nigeria to Take Measures Against Crypto Scams
Nigerian cryptocurrency industry is to take strong measures to guarantee a safe trading environme...
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Cybercriminals Targeting Bitcoin ATMs to Launder Money – Says FBI
The Federal Investigation Bureau (FBI) revealed gaps in financial regulations as money laundering...
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UAE Charges Six Companies with Dh3.2 Million for AML/CTF Violations
The UAE has fined six companies Dh3.2 million for failing to comply with Anti-Money Laundering an...
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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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New York Federal Reserve Sued by Puerto Rican Bank For Blocking Service in Venezuela
A Puerto Rican bank has sued the New York Federal Reserve on 25th July for suspending their acces...
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Court Dismisses Appeal in New Zealand’s First Criminal Prosecution Under AML/CFT Act
Court of Appeal dismisses an appeal on 1st July against New Zealand’s first criminal prosecution ...
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OSCE – Eurasian Forum Combines to Counter Money Laundering and Terrorism Financing
The Organisation for Security and Co-operation in Europe (OSCE) supported the joint efforts with ...
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Client Sues Credit Suisse for Losing $607 Million in Fraud Scheme
A Georgian billionaire, Bidzina Ivanishvili, has sued the Swiss bank, Credit Suisse over a Fraud ...
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CAMLMAC and UAE Financial Intelligence Unit Join Hands to Fight FinCrime
UAE and China have signed an MoU on August 03, 2021 to combat money laundering and terror financi...
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Shufti Relocates its London Office to Facilitate the Company Growth
March 2021, Shufti is pleased to announce the relocation of its London office to a larger and...
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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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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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Credit Cards are Risky for Crypto Transactions, Says Taiwan’s Financial Watchdog
Credit cards should not be used for crypto-related transactions, as stated by Taiwan’s financial ...
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Gamers Must Be Aware of long-Scale Click Fraud Campaign- Says Microsoft
Microsoft alerted gamers regarding wide-spreading click fraud. Cybersecurity personals said that ...
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Albania Fails to Take Strict AML/CFT Measures
According to MONEYVAL, Albania has failed to take the necessary steps to improve measures on figh...
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EU Parliament Reaches Provisional Agreement on Extending Rules for Crypto Assets
The Council Presidency has reached a provisional agreement with the EU Parliament regarding the r...
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US Launches First Criminal Prosecution for Alleged Cryptocurrency Sanctions Case
Criminal charges are issued by the US Justice Department for the first time for transmitting more...
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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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Canada’s Federal Government Announces Public Consultation Regarding a New Framework for Digital Identity
Canada’s government announces public consultation for creating a federally regulated digital iden...
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FATF Issues New BO Requirements to Address Pandora Papers
While addressing the Pandora Papers, the Paris-based global financial watchdog, FATF, has issued ...
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UK Regulatory Authorities Warns Crypto Firms to Comply with Latest AML Obligations
The UK regulatory department, Financial Conduct Authority (FCA), has warned cryptocurrency platfo...
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Thailand Launches Anti-Online Scam Center to Combat Cybercrimes
The Thai Government has officially launched the Anti-Online Scam Operation Centre (AOC) as of No...
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FATF Points Out Jurisdictions with Inadequate AML/CFT Measures
After the Financial Action Task Force issued public statements regarding updates to its lists of ...
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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...
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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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UK Customers Losse £580m to Identity Scammers in First Half of 2023
UK Finance disclosed that identity theft is a proliferating scam, and they recorded 1.4m fraud ca...
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OSCE Hosts Regional Conference on Combating Money Laundering and Terrorist Financing in South-Eastern Europe
The chairperson of the OSCE for North Macedonia addressed issues of corruption, money laundering,...
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HKMA Issues Mandate to Encourage Innovation in AML/CFT
Hong Kong’s Monetary Authority is set to launch interactive lab sessions to experiment with innov...
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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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SMEs Decry Registration Hurdles Owing to SCUML Certificate
SMEs have decried hurdles in opening business/corporate accounts due to the Anti Money Laundering...
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Brazilian Police Confiscates $33 M in Crypto Money Laundering Probe
Brazilian authorities have seized R$172 million from an investigation carried out into money laun...
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Formal Warning Issued to Westpac Over AML Failures, RBNZ Discloses
The bank underreported 8000 corporate transactions made overseas between July 2018 and February 2...
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One Million Student Records Compromised by E-Learning Sites
About one million online student records that contain personal information of students have been ...
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Namibia Enhances its National Crypto Strategy with New Legislation
Namibia raises the bar with new legislation in the National Crypto Strategy to combat crypto scam...
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The Rise of FinTech Services can Spur Financial Risk: Says U.S. Bank Regulator
According to the US bank regulator, banks and the fintech alliance for a seamless customer experi...
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China’s securities watchdog commits to clean up financial markets
SHANGHAI – China’s security watchdog vowed a number of measures to clean up its financial m...
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Homeland Security Takes Back Its Plans of Facial Recognition for US Citizens
The Department of Homeland Security (DHS) is taking back its decision to implement a policy that ...
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FATF Updates Guidance on Strengthening Beneficial Ownership Information
The Financial Action Task Force (FATF), in recommendation 24, established the first international...
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Gambling Commission Imposed a £6.1 Million Fine on Touch Games for Money Laundering Failings
The Touch Games, a gambling firm that operates 11 websites, has been fined £6.1 million over fail...
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