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Small Business Group Sues Treasury Department Over ‘Money Laundering Transparency Initiative’
A small business lobbying group has sued the Treasury Department over asking more than 30 million...
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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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First Canadian bank introduces digital ID verification
Digital Identity is progressing in Canada, with a new bank account opening process backed by digi...
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FATF issues new guidance on Digital Identity systems
A guidance paper has been issued by the Financial Action Task Force (FATF) to assist governments,...
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Germany to Establish New Regulatory Body to Combat Money Laundering
It has been reported that the German government will create a new regulatory body to combat money...
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South Africa Must Fix Holes in Money Laundering Regulation by 2025, Warns FATF
South Africa needs to improve its Anti-Money Laundering and Counter-Terrorist Financing regulatio...
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Anti-Money Laundering Assessment of Sri Lanka Expected Shortly by FATF
In a recent statement, President Ranil Wickremesinghe announced that Sri Lanka will begin its nex...
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Over 6000 BVNs Under Scrutiny for Fraudulent Transactions, Reveals CBN
The Central Bank of Nigeria (CBN) has revealed that more than 6000 Bank Verification Numbers (BVN...
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Money Laundering Proceedings Against Pilatus Set Back Indefinitely
Money laundering proceedings against Pilatus Bank and its former top officials will likely be set...
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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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Alibaba copyrights blockchain system that detects music copycats
Granted by the U.S. Patent and Trademark Office on April 21, the method as described by the Chine...
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FCA Fines Ghana International Bank Over £5 million for Money Laundering Failings
The Financial Conduct Authority (FCA) has imposed a £5,829,900 financial penalty on Ghana Interna...
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First Canadian bank introduces digital ID verification
Digital Identity is progressing in Canada, with a new bank account opening process backed by digi...
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US Crypto Industry Faces Pushback on Implementation of Crypto-Friendly Legislation
The US crypto firms visited Capitol Hill to push their industry-friendly regulations however, thi...
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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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UAE Imposes Fines Exceeding Dh115 Million to Combat Money Laundering in Q1 of 2023
The UAE has imposed a monetary penalty of Dh115 million ($31.3M) in the first quarter (Q1) of 202...
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US Financial Committee to Investigate Crypto to Combat Terrorist Financing
The US House of Financial Service Committee (FSC) is set to conduct an in-depth investigation of...
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The market for Digital Identity Solutions expected to double by 2024
The market for Digital Identity Solutions is predicted to double between 2019 and 2024, as report...
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ACRA to Impose Stricter Rules to Combat Money Laundering & Terrorist Financing
ACRA has proposed stricter rules for professionals and firms that assist businesses with corporat...
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China officially recognizes Blockchain jobs as a new occupation
The ongoing COVID-19 outbreak is modifying blockchain companies, and its effect is not always neg...
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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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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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Shufti picks up two business awards
October has been an amazing month for Shufti. In September it was nominated for outstanding p...
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China officially recognizes Blockchain jobs as a new occupation
The ongoing COVID-19 outbreak is modifying blockchain companies, and its effect is not always neg...
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Spanish Regulatory Authorities Take Action Against Illegal Crypto Promotion on Social Media
The Spanish National Securities Market Commission (CNMV) is preparing rigid measures to prevent i...
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Europol Convicts Israel-France Gang on $40 Million Money Laundering Plot
Europol’s joint investigation with French authorities has led to the dismantling of a Franco-Isra...
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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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EBA Report Uncovers Risks of Money Laundering & Terrorist Financing Associated With Payment Institutions
The European Banking Authority (EBA) published findings on money laundering and terrorism financi...
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“Steer Clear Of Online Shopping Fraud This Holiday Season”, Says Victor Fredung
Following the FTC’s statement regarding online shopping fraud, Shufti’s CEO Victo...
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Joint US-Spanish Operation Broke a Multi-Million Euro Credit Card Scam
The US Secret Service and Spanish police were working together on an operation when they shut dow...
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Economic and Financial Crimes Commission (EFCC) Notifies Estate Agents of Anti-Money Laundering Procedures
The Economic and Financial Crime Commission (EFCC) has instructed estate agents in Port Harcourt ...
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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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US Launches National Cryptocurrency Enforcement Team
The National Cryptocurrency Enforcement Team will aid the US Department of Justice (DOJ) in disma...
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FIAU Charges ECCM Bank €310,000 for Weak AML Controls
FIAU charged Silema-based ECCM Bank €310,000 over failings in money laundering controls, revealin...
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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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Police busted a massive £215m money laundering ring in the Northern Ireland
PSNI police arrested 7 individuals following one of the biggest money-laundering investigations i...
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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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The Commodity Futures Trading Commission to Regulate the Crypto Market with “Full Oversight Capabilities”
The chairman of the CFTC discussed that his agency would regulate the crypto market. Digital Com...
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US Senators Push Congress to Regulate Crypto Amid FTX Turmoil
US senators have urged Congress to regulate cryptocurrencies under current financial regulations ...
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Canada Faces 400% Increase in the Cryptocurrency Fraud
The Canadian police department is warning people to protect their personal information and perfor...
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Money Laundering & VAT Fraud Acquisition Against Lycamobile
A trial for money laundering and value-added tax (VAT) fraud between 2014 and 2016 started on Jun...
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Australians Lost a Record Amount of Over $3 Billion to Scams in 2022
The Australian Competition and Consumer Commission (ACCC) revealed that Aussies lost more than $3...
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WHO launches blockchain platform to fight COVID-19
On March 28 the World Health Organization (WHO) collaborated with major blockchain and technology...
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EU, UK and US Blame Russia for Cyberattacks on Internet Service Providers
Accusations were imposed on Russia due to the recent disastrous cyberattacks on the European sate...
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The UAE Hosts the Egmont Plenary to Promote Global Anti-Money Laundering Efforts
The UAE Financial Intelligence Unit is hosting this year’s Egmont Plenary event, which is e...
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Regulators in Hong Kong Urge Banks to Accept Cryptocurrencies
Hong Kong banks are worried about regulatory repercussions for their crypto clients if money laun...
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UAE’s AML Body Adopts Regulatory Framework for Virtual Assets
The new rule for virtual assets has been devised in accordance with the crypto travel rule issued...
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Large Korean bank to pay a huge fine for violating AML law
NEW YORK, April 20 (Reuters) – Industrial Bank of Korea 024110.KS, one of South Korea’...
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US Attorney General Warns about the Identity Theft this Holiday Season
The Federal Trade Commission states that more than 650,000 citizens’ identities have been comprom...
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Money Laundering Crackdown on UK Law Firms
The regulators at Solicitor Regulators Authority (SRA) asked 400 law firms earlier this year to p...
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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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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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CBN Issues AML/CFT/CPF Guidelines for Licencing Banks and other Financial Institutions
The Central Bank of Nigeria (CBN) has issued guidelines to assist promoters of banks and other fi...
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Malta Faces 200% Spike in Money Laundering Cases
Financial Intelligence Analysis Unit (FIAU), Malta’s financial regulator, received a 200% increas...
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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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Labor Party Victim of a Second Cyber-Attack
Britain’s Labour Party has informed that it had been a victim of a large-scale cyberattack on its...
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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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Pandora Papers Update: Offshore Havens and Money Laundering Scandals Exposed
The Pandora Papers expose 35 world leaders, 300 public officials and 100+ billionaires, thus prov...
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National Audit Office Plans to Review FCA’s Responsibilities
The National Audit Office (NAO) plans to assess the Financial Conduct Authority (FCA)’s growing r...
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COVID-19 has Made Cybercrime More Structured
During the COVID-19 pandemic, there has been immense growth in the opportunities for cyber-relate...
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Kazakhstan has Improved to Achieve the Lowest Risk Score for ML/TF
According to the annual report of Basel Index 2020, among the 141 countries, Kazakhstan is at 73r...
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Binance Pulls Out its Rival Exchange Huobi from Money Laundering Attempt
Binance helped its rival crypto exchange, Huobi Global, recover the amount taken in a bridge expl...
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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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$140 Million Stolen as Crypto Gaming Company Gets Hit by Hackers
VulcanForge is the third cryptocurrency company to be targeted by hackers in just this month, wit...
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£78 Million Stolen in Investment Scams, Warns FCA
FCA- Financial Conductive Authority has given out a warning as the investment scams regarding ‘cl...
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US Sanctions Crypto Mixer Sinbad Over Connections to North Korea
The FBI and the Dutch Financial Intelligence and Investigation Service have a crackdown on virtua...
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AUSTRAC to Audit Three Bell Financial Group Entities to Evaluate AML/CFT Compliance
AUSTRAC has called for the audit of three entities under the Bell Financial Group, including Bell...
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59 Arrested in Vietnam Crackdown on Illegal Crypto Gambling Group
Law enforcement bodies arrested 59 Vietnamese in illicit gambling schemes and were suspected of $...
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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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SRA Receives Fewer AML Violation Reports from England & Wales Despite Sanctions Drive
Anti Money Laundering (AML) violations in England & Wales reported to the Solicitors Regulati...
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Philippine Banks Struggle to Comply with AML Regulations
Philippian banks and financial institutions are struggling with compliances regarding the anti-mo...
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Few Hours Left! Was Mail-in-Ballots Successful?
The US elections 2020 have been exhilarating yet stressful for all the residents. The coronavirus...
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