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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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Bank of Lithuania Open Probe on UK Fintech over Alleged Money Laundering
Bank of Lithuania is reportedly investigating UK fintech Railsr over Anti-Money Laundering and Co...
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The Czech Republic Government Amends Beneficial Ownership Law to Meet AML Obligations
The Czech Republic government revised Beneficial Ownership Law upon the European Commission’...
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A European Money-Laundering Network Captured by French National Gendarmerie
A money-laundering network in France was under investigation for 18 months by French National Gra...
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UK Finance Sector and Police Stopped £32m Fraud in First Half of 2021
The ‘Banking Protocol’ introduced in 2016 has now helped prevent financial fraud worth £174...
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Cyprus Makes Strides in Restoring its Reputation by Dealing with AML Concerns
According to the US Ambassador to Cyprus Judith Garber, Cyprus has shown progress in dealing with...
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AML Program Risks Highlighted by the Pandora Papers Scandal
Experts have advised compliance officers to divert their focus on EDD, CDD, and UBO verification ...
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US Cybersecurity Head Fired by Trump for Discrediting the Voter Fraud.
Trump has fired the head of cybersecurity, Christopher Kerbs, for beinhg unloyal to the claims of...
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Fraud claim filed against HSBC Bank for ‘sham’ investment scheme
A fraud claim worth £1.3 billion has been submitted by 371 investors against HSBC UK Bank for los...
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Crypto Scams Reach New Heights in 2020 With $24M Stolen So Far
Whale Alert alleges that crypto scams are skyrocketing so far in 2020.
A report revealed,scammer...
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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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FBI Springfield Warns of Growing Fraud Targetting the Elderly
The FBI has warned people of growing elderly fraud. As per the Internet Crime Complaint Center...
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Bitcoin ATMs face stricter regulations over money laundering
According to experts, Bitcoin ATMs (BATMs) will face stern regulations globally, with countries s...
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UK Government Aims to Recover £1 Billion Lost Funds Over the Next Decade
The UK Government has put technology as the front and centre force to fight crimes and reinforce ...
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Brazil to Introduce Facial Recognition to Verify People Wearing Masks at Airports
Countries across the globe are taking necessary steps to introduce facial recognition at the airp...
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Authorities Struggle in Mexico as Cartels Use Crypto for Laundering Funds
The head of financial intelligence in Mexico has revealed that the law enforcement authorities ar...
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FMA Sues Tiger Brokers for AML/CTF Breaches
The Financial Markets Authority (FMA) has filed court proceedings against Tiger Brokers for alleg...
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Barclays Prohibits UK Clients from Sending Debit and Credit Payments to Binance
Barclays has stopped UK customers from transferring funds to Binance after the Financial Conduct ...
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Fake NFT Sold for £244k from Artist “Banksy’s” Website
A fake link directed bidders to an online auction for Banksy’s NFT, which was posted on the now-d...
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FCA Probe into Barclays for Anti-Money Laundering Failings
The Financial Conduct Authority opened a probe into Barclays for suspected failings in compliance...
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Saudi’s SAMA Warns Clients of Upsurge in Financial Fraud
SAMA urges clients to practice the highest degree of caution and prevents exposing any confidenti...
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Silly Season Scams to Rise as AFP Forewarns Fake Delivery Texts
The Australian Federal Police (AFP) has warned of fake delivery texts. Scammers use legitimate-lo...
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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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UK NCA Recovers $7.5 Million from Azerbaijani Laundromat Probe
The UK’s NCA has recovered 5.6 million pounds ($7.5 million) from bank accounts in the country wh...
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Vietnam Collaborates with UK to Enhance AML Law Enforcement
The Vietnam Ministry of Public Security delegation, led by Deputy Minister Lieutenant General, Le...
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South Africa Enforces New Rules to Transfer Funds Abroad
The South African Revenue Service (SARS) has made regulatory changes to transfer funds overseas, ...
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Facebook Launches a New Payment System Following Libra
Facebook Pay is a new payment system launched by Facebook for all the apps under the Facebook umb...
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Standard Chartered Is Fined $13.6 Million by India’s AML agency
Standard Chartered Bank is fined $13.6 million by India’s anti-money laundering agency for 2007 d...
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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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New York State Department Fines Robinhood $30m for Inadequate AML Compliance Measures
New York’s top financial regulator has fined Robinhood $30 million for failures and shortcomings ...
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£23.8 Million Fined to MT Global for AML Non-Compliance
A Money Service Business (MSB) firm, MT Global, penalized by HM Revenue and Customs for breaching...
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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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Surge in Identity Theft Frauds During Covid-19
According to new data from the Federal Trade Commission (FTC), identity theft has risen to the nu...
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The Bahamas to Launch a Payment Card for Central Bank Digital Currency
Bahamas’ Central Bank has joined hands with Mastercard and digital payment startup Island Pay to ...
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US Justice Department Helps Brazilian Government to Seize $24 Million in Crypto Fraud
An official request from the Brazilian government was made to the US government for helping to se...
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KYC Alliance between Dubai Economy and six banks
As reported by Gulf News, Dubai Economy along with Emirates NBD, Emirates Islamic, HSBC, RAKBANK,...
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California’s EDD is Falling Behind in Legitimate Unemployment Claims
According to a report by Calmatters, California’s Employment Development Department is lacking be...
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Germany and Austria to Adopt Digital KYC for Customer Onboarding
Banks and financial institutions are always searching for ways to impress the customers and the d...
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Hong Kong Crypto Exchange Platform JPEX Involved in a $178M Fraud
Hong Kong Authorities claimed they received over 23,000 complaints against the Dubai-registered c...
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Turkish President Announces New Crypto Bill to Legalize Virtual Assets
Turkey’s Parliament to announce the cryptocurrency bill in the coming weeks. Legal framework will...
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Kenya Accuses Two Leading African FinTech Firms of Operating Without Licenses
Two of Africa’s top FinTech companies have been accused by the Kenyan central bank of alleg...
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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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MFSA, SEC, Along with FCA Introduces New AML Guidelines for Money Laundering Officers and Virtual Asset Service Providers
The Malta Financial Services Authority (MFSA), Securities and Exchange Commission (SEC), and Fina...
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US to Rigorously Implement Anti-Money Laundering in Crypto
A rule requiring cryptocurrency firms to share data about their customers will be strictly implem...
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Research and Data are Key to Developing Fair Crypto Regulations, Say Blockchain Experts
As global regulators are looking to have control over crypto, blockchain analysts say that lawmak...
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MONEYVAL Urges Poland to Improve its AML/CFT Regulatory Framework
MONEYVAL has called upon Polish authorities to improve their regulatory framework and work on str...
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Japan Considers Facial Recognition to Trace Contact at Large Scale Events
According to the Japan Times report, the country is planning to introduce facial recognition at l...
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New Crypto Regulations to be Followed by Korean Banks
South Korea is increasing cryptocurrency regulations by making KYC verification necessary along w...
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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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Surge in Identity Theft Frauds During Covid-19
According to new data from the Federal Trade Commission (FTC), identity theft has risen to the nu...
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G20 Summit Agrees to Establish a Unified Global Crypto Framework to Prevent Digital Money Laundering
The G20 Summit signed to establish a global unified regulations framework to regulate digital tra...
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Fake Zoom Invite Collapsed Australian Hedge Fund with a CyberAttack
A fake zoom invite has taken out $8.7 million in fraudulent invoices by the trustee and administr...
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IPEC to Collaborate With FIU to Improve AML Framework
IPEC to collaborate with FIU to identify terrorist financing and money laundering risks that are ...
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FIAU Imposes €60,000 Fine on Audit Firm for AML Failings
€60,000 fine imposed on an audit company, for failing to report money laundering and suspected ta...
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Albania’s Fight Against Money Laundering and Terrorist Financing Gains Traction
Based on the Council of Europe’s MONEYVAL review report, published on June 21st, Albania ha...
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UK has Suffered Fraud and Cyber Crime Losses Worth £1.3 Billion in 2021
London incurred the highest amount of losses to cybercrime and fraud in the first half of 2021, a...
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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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FACT Urges Treasury to Implement Landmark Corporate Transparency Act
FACT has urged the treasury department to impose crucial changes to draft regulations and impleme...
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Banks Ordered by BSP to Enhance the Filing of Suspicious Reports
MANILA, Philippines – In an attempt to ramp up its fight against financial crimes, the Bang...
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UAE banking sector unites with law enforcement agencies to tackle fraud
Dubai: UAE’s first national fraud awareness campaign has been initiated with the collaboration of...
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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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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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FSA Imposed £247,324 Fine on Standard Bank for “Serious Regulatory Failings”
The Isle of Man Financial Services Authority (IOMFSA) has imposed EUR 247,324 fine on Standard Li...
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US Imposes Sanctions on Russian-backed Iranian Oil Smuggling & Money Laundering Network
The US has imposed sanctions on a Russian-backed oil smuggling and money laundering network for I...
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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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Australia Lags Behind in Extending FATF’s AML/CFT Recommendations to DNFBPs
Australia is sending a signal to welcome global financial criminals for business in its lawyers, ...
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The Biggest Software Company in the US under Ransomware Attack on Election Night
Tyler Technologies in Plano, Texas, was under a ransomware attack last week. The company sells so...
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UK’s National Audit Claims FCA Takes Slow Crypto Enforcement Actions
The UK’s National Audit stated that the Financial Conduct Authority (FCA) has all the rights to c...
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AML Council Warns Financial Institutions to Strengthen Systems for Effective Money Laundering Prevention
Banks and financial institutions should implement a strengthened anti-money laundering system to ...
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‘Money Laundering risk is higher in banks in Mexico than crypto firms’, says FIU report
According to the new report generated by the country’s financial intelligence unit (FIU), the ban...
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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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US Crypto Firms Reluctant Towards New KYC/AML Proposal by FinCEN
The US crypto firm, Coinbase, sent a letter to FinCEN with a clear message, “There is no emergenc...
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