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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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US Seizes 18 Crypto ATMs Bought With Fraudulent Loans
US law enforcement has seized 18 cryptocurrency automated teller machines previously purchased vi...
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German Parliament Passes Anti-Money Laundering Laws
On Thursday, the German parliament passed a draft of anti-money laundering measures to make sure ...
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Austrian Gamblers Struggle to Recoup Money from Illegal Betting Sites
Austrian gamblers struggle to recoup money from illegal betting sites after gambling groups face ...
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BSP Seeking to Mandate e-KYC For Financial Institutions
The draft circular suggests obligatory e-KYC processes, including identity verification and custo...
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Nigerian House of Representatives Pledges Strict Regulations Against Money Laundering and Terrorism Financing
The Nigerian House of Representatives Committee on Financial Crimes stated they would design stri...
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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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Danske Bank Fined €1.82m Over AML and CTF Breaches
Danske Bank was accused of AML compliance failings and fined €1.82m by the Central Bank, revealin...
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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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Philippine Plans to Introduce New Regulations on Beneficial Ownership
The Securities and Exchange Commission in Philippine has laid out new regulations that require tr...
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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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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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Gaming & Investment Firms in Malta Penalised with €4.6M for AML Failures
The financial intelligence Analysis Unit has issued an annual report that shows that the total fi...
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Money Laundering Investigation Leads to Seizure of Canberra Properties, Vehicles, and Cash
Assets worth over $10 million have been seized after an international investigation into money la...
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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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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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PayPal Announces Suspension of UK Crypto Purchases from October
PayPal announced a temporary ban on UK cryptocurrency purchases, demonstrating their swift compli...
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The UK Law Firms Approve the Use of AI in AML Armoury
The Legal Sector Affinity Group is the governing body of all the UK’s legal regulatory and repres...
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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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China Strengthens Anti-Money Laundering Rules for Financial Institutions
China has taken steps to improve financial institutions’ measures to combat money laundering by p...
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HM Revenue & Customs (HMRC) Fines Property Firms Over £1 Million for Money Laundering Violations
HM Revenue & Customs has fined property firms more than £1 million for not complying with ant...
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FBI and the U.S. Marshals Service Warn of Prevailing Telephone Scams
FBI and the U.S. Marshals Service have warned of prevailing telephone fraud in which callers act ...
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Fintech Requires Tight Controls to Mitigate Data Privacy Risks, Treasury Report
As per the new report by the U.S. Department of the Treasury, Fintech requires tight controls to ...
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Massive Cyberattack on Australia Uses Cryptojacking Exploits
According to the Australian Cyber Security Centre, a group of “state actors” hacked Australian ne...
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Cambridge University Hospital Breach Exposes Data of Cancer and Pregnancy Patients
The Cambridge University Hospital admitted they mistakenly leaked over 22,000 pregnant women and ...
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Swedish Legislators Propose an Increase in Money Laundering Penalties for the Gambling Industry
Legislators in Sweden will consider increasing penalties for gambling operators who violate the n...
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Americans Lose $3.82 Billion to Crypto and ‘Phantom Property’ Investment Scam
The American public is being alerted to the proliferation of fraudulent investment schemes. Crypt...
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ICO Warns Public Bodies Over Failure to Respond FOI Requests
ICO warned public bodies regarding Freedom of Information (FOI) requests failure. Different depar...
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Abu Dhabi to Establish Executive Office to Combat Illicit Financial Flow
A specialised court in Abu Dhabi will be developed to oversee the measures to fight financial cri...
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Action Fraud Fund Report Exposes Billion-dollar Cryptocurrency Scams
The Action Fraud Fund report exposes the extent of cryptocurrency fraud and Ponzi schemes circula...
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Financial Fraud Alerts in the UK are Most Prevalent in Crypto Firms, Reports FCA
FCA has labeled crypto as the top sector for financial scam warnings in the UK. As of now, there...
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AML investigation results in NZ police freezing $140 million
Police have collected $140 million from the Canton Business Corporation and its owner Alexander V...
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FCMC Fines AS PrivatBank Worth €768K for AML Non-Compliance
The FCMC fined PrivatBank for AML/CTPF compliance breaches and instructed the bank to address its...
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1.6M Unemployment Claim Filers Exposed Due to Data Breach
The Washington State Auditor’s Office has investigated an incident that has exposed the personal ...
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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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FinCEN Warns Banks of Potential Russian Sanctions Evasion
The Financial Crimes Enforcement Network (FinCEN) has warned banks of possible suspicious practic...
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Sri Lanka removed from the high-risk money-laundering list
COLOMBO – Sri Lanka was recently removed from the list of high-risk countries for money lau...
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Thai Police Bust $27M Crypto Scam and Seize Multiple Luxury Properties
In a recent operation, Thai authorities uncovered a $27m crypto scam targeting local investors an...
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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...
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Cyprus Adopts Transparency in Registration of Company Owners
Cyprus has planned to introduce a register in the coming weeks to unveil the identity of thousand...
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Star Casino’s Share Tumbles 21% Following Money Laundering Allegations
Individuals banned from gambling at the Star casino in Sydney had been permitted to gamble at Sta...
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Banks warned against profiteering from UK coronavirus crisis
British institutions, including banks, have been urged to avoid profiteering from the Coronavirus...
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Banks Introduce Confirmation of Payee to Tackle Fraud
The Confirmation of Payee (CoP) system was launched in October 2018 but implementation was delaye...
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Another COVID-related lure: Phishing Scam Targeting Email Users
Amid the COVID-19 outbreak, email users are constantly warned against fraudulent emails and scams...
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New Zealand to Update AML/CFT Regulation from 9 July 2021
Among other changes, reporting entities have been directed to conduct customer due diligence on n...
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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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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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Philippines to Exit FATF Gray List Next Year, Says Governor BSP
Felipe M. Medalla, the governor of BSP, says that the Philippines have one year to exit the FATF ...
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South Africa Anticipates Removal from FATF Gray List in 2025
The South African government is anticipating that they will address all the FATF international st...
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Enhancing Transparency and Beneficial Ownership in the Fight Against Trade-Based Money Laundering
Criminals use trade-based money laundering (TBML) to move illicit money across jurisdictions. TBM...
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SEC Charges $79 Million Penalties on Broker Companies for Deficiencies in Recordkeeping
The Security and Exchange Commission (SEC) has imposed $79 million worth of penalties on brokerag...
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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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US Treasury Official Urges Iraq’s Central Bank to Act Against Money Laundering
The US Treasury officials stated Iraq’s central bank should design new measures to combat the mis...
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UAE Central Bank Fines Firm $490,000 for Violating AML/CFT laws
The UAE’s Central Bank has charged a financial firm Dh1.8 million ($490,000) over breaching the c...
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MGA to Introduce Detailed Player Protection Guidelines for Responsible Gambling
Malta Gaming Authority is set to introduce player protection guidelines after being placed on the...
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Philippine Plans to Introduce New Regulations on Beneficial Ownership
The Securities and Exchange Commission in Philippine has laid out new regulations that require tr...
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Chinese regulators extend financial support to bring Hong Kong, Macau closer
China’s financial regulators revealed an extensive plan to ease investments and cross-border tran...
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EU Strengthens Capacity of CSOs to Combat Money Laundering & Improve Governance
The European Union (EU) is working on boosting the capacity of more than 200 Civil Society Organi...
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UAE Central Bank Imposes Dh352k Fine on Currency Exchange
The Central Bank of the UAE has fined an exchange house with a total of Dh352,000 for shortcoming...
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Brazil’s financial regulator launches regulatory blockchain
The Banco Central do Brasil (BC) recently declared the launching of a new blockchain platform cal...
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FATF Highlights the Gaps in New Zealand’s AML Measures
Financial Action Task Force (FATF) has issued a report on New Zealand’s measures to combat money ...
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SPP Observes Rapid Increase in Money Laundering Cases Prosecuted Nationwide
The Supreme People’s Procuratorate (SPP) has observed a rapid increase in money laundering ...
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Fraudsters Seek Fake COVID Test Reports as New Travel Restrictions Roll Out
As the new travel restrictions are imposed to omit the spread of the coronavirus, the fraudsters ...
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BSA-AML Compliance Group Disclose Names of Annual Gaming Conference Speakers
The BSA-AML Compliance group has revealed the names of the speakers attending the annual gaming c...
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Swedbank Estonia Reports High-Risk Client for Laundering $2 Billion
Swedbank Estonia labeled one of its clients a “high-risk” company due to suspicious transactions ...
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US Treasury Hits Bittrex with $53 Million Fine Over Sanctions Violations
The US Treasury Department has imposed a $53 million fine on Bittrex for violating sanctions and ...
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FCA Says Bankman-Fried FTX Cryptocurrency Exchange Not Regulated in the UK
FCA warned crypto exchange FTX due to their unauthorized operations. The financial regulator clea...
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Vietnam’s Ministry Concerned About the Risks Attached to Crypto Trading
The Finance Ministry in Vietnam has declared that cryptocurrencies have no legal framework in the...
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Australian Police Launch Avarus, a Multi-task Force to fight Money Laundering
Australian Federal Police has set up a new multi-agency task force to fight prevailing financial ...
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Janet Yellen, US Treasury Secretary to be, Prioritizes AML Regulations
Janet Yellen, incoming Secretary of the US Treasury has announced that AML legislation is the mos...
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Crypto Bank Anchorage Has Inadequate AML Measures, Says US Federal Regulator
A US federal regulator has said that the first federally-chartered digital asset bank Anchorage D...
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Central Valley Towns Become the Hot Spot of Identity Theft
A new report identifies a small number of Central Valley towns with the highest incidence of iden...
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