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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...
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Central banks urged to introduce digital alternatives to cash
According to a recent report from Positive Money, Central banks across the globe should issue a d...
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Ledger Owners Scammed worth 1.1 Million XRP
Earlier this year Legsdger customers faced a leak of email and personal information. Now they are...
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EU to Introduce Sixth ‘Anti-Money Laundering Authority’ for Crypto Oversight
The European Union is planning to introduce the sixth “Anti Money Laundering Authority” to look u...
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Dutch Money Mule Caught Involved in $3.5M of Money Laundering in Australia
A 22-year old Dutch national has been arrested by Australian Police for being a money mule in a m...
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Hong Kong Customs Commissioner Urges to Enhance Supervision in Crypto Exchange
Hong Kong’s Commissioner of Customs and Excise, Louise Ho Pul-shan, has urged to enhance the secu...
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Pacific Financial Intelligence Unit Collaborates to Combat Money Laundering
The Financial Intelligence Unit of the Pacific region arranged the meeting last week to enhance t...
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Guyana Holds US-Sponsored Conference to Examine Asset Recovery and Money Laundering Issues
The Judiciary of Guyana organised a two-day conference in collaboration with the US Department of...
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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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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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Bank of Ireland Warns Customers of Rise in Phone Call and Text Scams
Bank of Ireland has warned clients of a surge in phone calls and text message scams. As per the f...
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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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EMI Flagged Nearly 40% of UK’s E-Money Exchanges for Money Laundering Risk
A report from Transparency International revealed that nearly 40% of the UK’s e-payment companies...
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Mishcon de Reya fined £232,500 for AML Failures
London’s leading firm, Mishcon De Reya has been fined EUR 232,500 over failing Anti-Money Launder...
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Iran’s President Has Called for Legal Framework For Crypto Trading
Hassan Rouhani, the Iranian President, wants to legalize crypto trading and safeguard national in...
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EU Proposes New AML Agency For Addressing Money Laundering
The EU document has been proposed to introduce tough action against money laundering in the regio...
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FINTRAC Issues Alert on Money Laundering from Illegal Wildlife Trade
FINTRAC, in collaboration with the Project Anton team, issues an alert on money laundering procee...
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FATF Updates on South Africa’s AML Compliance Progress
A report on South Africa’s progress in implementing AML procedures to prevent money launder...
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AMLC Demands Rigid Security Measures for Non-Compliant Businesses in the Philippines
The Anti-Money Laundering Council (AMLC) is pushing for more strict due diligence measures on del...
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South Korea’s Largest Crypto Exchange Upbit Registers with KoFIU for AML
Upbit is reportedly the first South Korean crypto exchange to register the Korean Financial Intel...
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CBN Introduces Guidelines to Curb Money Laundering in the Financial Sector
The Central Bank of Nigeria (CBN) has issued guidelines on anti-money laundering and combating th...
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Central Bank of Bahamas Calls for Stringent Due Diligence in the Wake of FTX Collapse
The Bahamas’ Central Bank has called for stricter due diligence while moving funds in the w...
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U.S States Open up to the Idea of Digital IDs in Post Pandemic World
The ID cards that were used by millions of people as proof of their identity may soon become a th...
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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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UKGC Revoked IMME’s Licence for AML Non-compliance
Licence of IMME was revoked by the UK Gambling Commission for not complying with the Anti-Money L...
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Kuwait Bans Crypto-Related Activities to Combat Money Laundering
The government of Kuwait banned all crypto-related activities on July 18th, including mining, tra...
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Crypto Industry Rejects New Rules to Report NFT and DeFi Transactions
The representatives of the Crypto industry have disapproved of reporting data about NFTs, DeFi tr...
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Swedish Biggest Bank Hosts Active Account for PKK Terrorist Group
According to a local media source, the most prominent Swedish bank, SEB (Skandinaviska Enskilda B...
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Credit Union Identity Theft Investigation Handed Over to Federal Prosecutors
NY Police have handed over the investigation of a $100,000 ID theft ring allegedly involving a fo...
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UAE Endorses Legal Framework for Unlicensed Virtual Asset Platforms
The United Arab Emirates (UAE) issued new strict anti-money laundering regulations for unlicensed...
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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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Taiwan’s Security Watchdog is Set to Regulate Local Crypto Industry to Prevent Money Laundering
Taiwan’s top financial regulator is set to become the primary oversight body to monitor the...
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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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Tesla CEO Elon Musk Accuses SEC of Leaking Information in Federal Investigation
Tesla CEO Elon Musk has accused the SEC of leaking information about a federal investigation as a...
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Man arrested for money laundering offenses related to COVID-19
A 39-year-old Singaporean man has been apprehended for his suspected involvement in money launder...
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Customers warned of scams by the UK banking lobby amid COVID-19
Banking customers should be aware of fraudsters who are exploiting the COVID-19 epidemic to carry...
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Sebi Releases New Anti-Money Laundering Guidelines
The capital markets regulatory authority, the Securities Exchange Board of India (Sebi), publishe...
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FATF Publishes 35 New Indicators Against Trade-based Money Laundering
Financial Action Task Force (FATF) and Egmont group has published a new report on risk-indicators...
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Australian Federal Police Issues Warning on Valentine’s Day Financial Scams
Australian authorities have warned the public of new Valentine’s Day scams aimed at singles...
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HKMA Issues Guide for Regtech Adoption in Customer Monitoring
The second guide published by the HKMA will allow banks to test their internal measures and infra...
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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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SFMS Reports Blocking Russian Crypto Exchanges
Ukraine’s financial monitoring agency has restricted access to several online crypto exchan...
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FinCEN Pinpoints Bitzlato as “Primary Money Laundering Concern”
FinCEN recognises Bitzlato Limited, a Hong-kong based virtual crypto exchange network, as a prima...
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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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EU Contemplates New Anti-Money Laundering Body in the Wake of Scandals
Brussels plans to pursue the strengthening of powers of the EU agencies to combat money launderin...
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HKMA Reveals Phishing Fraud Went Up by 145% in 2021
Statistics revealed by HKMA show that phishing fraud rose by 145% in the first half of 2021.
Hon...
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UAE Strengthens AML Measures to Bolster Virtual Asset Framework
The UAE’s anti-money laundering and counter-terrorism financing department stated it continues bo...
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Singapore and Europe Enhance AML Framework to Fight Financial Crimes Effectively
Singapore and Europe have emerged with enhanced AML requirements for corporate services businesse...
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UAE Extends the Deadline for DNFBPs to Register for AML Regulations
The Ministry of Economy (MoE) in Abu Dhabi has announced the deadline extension for the registrat...
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US Court Declares Bitcoin and ETH as Commodities, Dismissing Uniswap Lawsuit
A US court dismissed the Security Exchange Commission (SEC) lawsuit against the Uniswap protocols...
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Australia’s Money Laundering Failures Increase Risk of Russia Sanctions
Australia is facing embarrassment on the possibility of being placed on the FATF’s “grey list” fo...
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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...
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UK’s AML Regulations for Art Market Excludes Art Creators
The UK to implement new Anti-Money Laundering regulation to cover the art market from 10th June 2...
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Kuwait’s Ministry of Social Affairs to Amend the Executive Law to Fight Money Laundering and Terrorism
Kuwait’s Ministry of Social Affairs is currently reviewing a proposal to amend the executive regu...
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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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Kenyan Authorities Freeze Accounts of Two Nigerian Companies for Allegedly Laundering Sh6 billion
Kenyan authorities have frozen accounts containing Sh45 million belonging to two Nigerian compani...
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UAE Freezes Assets of Irish Crime Syndicate for Laundering Money Through Dubai
The UAE has frozen the assets of Ireland’s Kinahan Crime Syndicate, mounting the pressure on an o...
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Crypto and Forex Scams Cost Belgian Investors $12 Million
According to the Belgian financial watchdog, fraudsters stole approximately $12 million from the ...
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The US Treasury Department OFAC Enforces Whistleblower Programmes
According to the US Treasury’s Department Office of Foreign Assets Control (OFAC), companies must...
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Hong Kong regulators looking into possible overcharging by brokers
HONG KONG – Hong Kong’s financial regulators announced on Monday that they would analyze th...
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FBI Reveals North Korea’s Lazarus Group Involvement in $41 Million Stake Hack
US Federal Bureau Investigation (FBI) has revealed that the North Korean hacking group, Lazarus, ...
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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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Singapore Central Bank to Utilize AI Technology to Combat Money Laundering
The Monetary Authority Singapore (MAS) seeks to utilise AI technology to bolster the security of ...
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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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US Judge Approves Danske Bank’s $2 Billion Settlement to End Estonia Probe
A US judge has approved Danske Bank’s guilty plea in a $2 billion pact to end a probe into ...
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Singapore Scammers Launder Money Through Online Gambling
Singapore police seized US $736 million worth of cryptocurrencies and virtual assets from money l...
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Elon Musk proposes regulations on artificial intelligence
”Organizations developing artificial intelligence must be regulated”, says Elon Musk. This is not...
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Uganda Remains Greylisted by FATF for Money Laundering
There will be no change to Uganda’s status on the “grey list” due to the countr...
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South Korean Government to Enforce Cryptocurrency Transaction Monitoring in H1 2023
The South Korean government is looking to implement crypto oversight by tracking transactions to ...
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Amendments to ‘Trust Property Control Act’ May Still Require Revisions
FISA (Fiduciary Institute of Southern Africa) and other notable trust law experts have expressed ...
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New Zealand to Introduce Digital IDs to Foster Trust in Online Transactions
New Zealand is working towards a national law that would bring consistency to the country’s effor...
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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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