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Austrac Warns of Money Laundering Risks Unless More Prosecutions are Conducted
Austrac has warned the law enforcement agencies in Australia that they must conduct more money la...
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Financial Watchdogs in Thailand Issue Strict KYC for New Crypto Accounts
The government in Thailand plans to eliminate anonymity in the new crypto account creation by enf...
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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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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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Malaysia Leads Southeast Asian Peers in Implementing Anti-Money Laundering and Counter-Terrorism Financing Regulations
Malaysian financial institutes are leading other South Asian countries in complying with anti-mon...
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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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Financial gain surpasses espionage as a top motivator in cyber attacks
NEW YORK – According to Verizon’s annual report on cybercrimes, money surpassed spying as t...
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Pakistan Launches Contactless Biometric Verification for Banking
Pakistan has become one of the first countries in the world to implement biometric verification t...
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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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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 Examines Technology use in Making AML/CFT More Effective
FATF has recognized the importance of combining human input and manual review with automation for...
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Former NFL Player Guilty of Identity Theft, COVID-19 Relief Fraud
Ex NFL player has been found guilty to one count of unauthorized access device fraud and one coun...
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Shufti Nominated for Yalla Fintech 2020 Award
Shufti, an identity verification service provider offering KYC verification and AML screening...
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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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China’s digital yuan to be tested by 19 firms including McDonald’s and Starbucks
Starbucks and McDonald’s are among 19 businesses that will test China’s new digital c...
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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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FEMA Confirms Seizure of 288 Crore Funds of Chinese-owned NBFC
The FEMA has confirmed the seizure of 288 crores worth of funds of a “Chinese-owned” ...
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Turkey Remains on the FATF Gray List for AML Regulations Failures
Turkey’s government has failed to comply with Anti-Money Laundering (AML) and Counter-Financing T...
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Facebook and LinkedIn follow Twitter’s suit demanding Clear view AI to stop scrapping user images
The previous month, after NewYork Times’ critical report on the facial recognition tech of Clearv...
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AFM Fines Robeco €2 Million for AML Compliance Failure
The Netherlands’ financial regulator AFM has fined Robeco €2 million for failing to implement ade...
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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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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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11 Jailed in Saudi Arabia for Laundering $2.7 Billion
Saudi Arabia has jailed and fined 11 individuals SR62.5 million for money laundering. The group l...
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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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FATF warns Turkey over Lapses in Money Laundering and Terror Financing
Turkey has been warned by Financial Action Taskforce (FATF) because of its ‘serious shortcomings’...
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Blue Star Planet to Pay £620,000 for AML Failures Uncovered by Gambling Commission
Blue Star Planet which was trading as 10Bet to pay £620,000 ($746,716) after it was found guilty ...
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Irish Businessmen lost More than €10 Million in Invoice Redirect Fraud
Sophisticated invoice redirect fraud in Ireland has resulted in the loss of €10 Million for busin...
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UN Warns of Money Laundering Risks Arising from Mekong Region Casinos
According to the U.N. Office on Drugs and Crime, the bond of China and Thailand with Myanmar is g...
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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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UAE Adopts Facial Recognition for ID Verification Instead of Emirates ID Card Readers
Facial recognition instead of Emirates ID card readers will now verify identity.
The Federal Auth...
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Hogan and other US Top Official Become the Victim of Identity Theft
A fraud scheme attacking top government officials of Maryland State has been uncovered. The schem...
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Chandigarh Cyber Cell Unit Arrested Criminals Involved in Overseas Money Laundering Activities
A gang of a Chinese national and 20 other people got arrested by Chandigarh Police. Investigation...
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Malta Should Remain Vigilant Against Money Laundering, Says FATF President
FATF President Marcus Pleyer says that Malta must prioritise its fight against illicit financial...
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MGA Issues 10 Warnings and Revokes 6 Licenses of Gaming Operators
MGA issued ten warnings and revoked six gambling licences in 2022. According to the report, the M...
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Belgian financial sector launches campaign to help consumers avoid online fraud
The financial sector’s federation, Fibelfin, is initiating a campaign to respond to the sense of ...
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FinCEN Calls in Bankers to Assess AML/CFT Risks in DeFi
The Financial Crimes Enforcement Network (FinCEN) is focusing on DeFi oversight as government bod...
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Twitter Reveals Plans of Addressing Deepfakes
Last month, Twitter announced that it was working on plans to better handle the rising issues of ...
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Scammers Stealing Kids’ Identities By Offering ‘Free Child Safety Kids”
The Better Business Bureau (BBB) is warning parents to be aware of ‘free child safety kits’ as sc...
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Belgian financial sector launches campaign to help consumers avoid online fraud
The financial sector’s federation, Fibelfin, is initiating a campaign to respond to the sense of ...
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UAE Struggles to Shade Off Grey-List Status as it Continues to Attract More Crypto Firms
The UAE is keen on regaining a good reputation by clearing its name from FATF’s grey list while t...
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EU Warns About the Impact of COVID-19 on Non-Regulated Crypto Investments
European Union’s financial regulatory agency, the European Securities and Markets Authority (ESMA...
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FMA Gives Red Signal to Pencarrow Private Equity for AML/CTF Violations
The Financial Market Authority (FMA) has issued a formal warning to Pencarrow Private Equity Mana...
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UK to Set up CBDC Taskforce to Analyze the Possibility of ‘Britcoin’
The Bank of England along with the British Government plans to set up a task force to create digi...
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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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MBSB Bank to Implement BNM’s Requirements for Combating Financial Crimes
Bank Negara Malaysia announced additional security measures for financial institutions to strengt...
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Foxconn Becomes the Victim of Ransomware Attack
A ransomware attack has impacted an electronic manufacturer, Foxconn, very badly. This attack was...
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FBI Warns of Tech Support Scammers Compromising Financial Accounts
The Boston Division of the Federal Bureau of Investigation (FBI) has warned of an increase in num...
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SEC Cautions Citizens Regarding Digital Investment Scams in the Philippines
The Securities and Exchange Commission (SEC) has warned the public to pay caution while making d...
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Shufti Nominated for Yalla Fintech 2020 Award
Shufti, an identity verification service provider offering KYC verification and AML screening...
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UK watchdogs launch ad-scam alert system to control online fraud
The United Kingdom Advertising Standards Authority (ASA) and the Internet Advertising Office (IAB...
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Argentina Proposes VASP Registry as Part of Updated AML Law
Argentina is preparing to update its AML and CTF law and has proposed to include a registry for v...
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Jamaica Nears Full Compliance by Meeting 37 of 40 FATF Recommendations
Jamaica now complies with 37 out of 40 FATF recommendations for better prevention of financial cr...
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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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SEC Move Ahead with Regulation of Virtual Assets Service Providers (VASPs)
Ghana’s Security Exchange Commission (SEC) has begun endorsing plans to regulate the crypto indus...
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$320 Million Worth of Cryptocurrency Stolen in Wormhole Hack
A recent hack on one of the most popular blockchain bridges linking Ethereum and Solana led to th...
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RSA Revamps Digital Payments with Industry-centric Regulations
The federal bank in South Africa re-regulated guidelines for performing card transactions between...
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Tech Giant Olympus Hit by Ransomware Attack from ‘BlackMatter’, Successor of DarkSide
More than 40 ransomware attacks have been attributed to BlackMatter, a ransomware-as-a-service gr...
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Nepal Approves Anti-Money Laundering Bill to Comply with International Standards
Nepal endorsed an anti-money laundering bill as the initial step to combat financial crime and en...
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Man Sentenced to 5 Years in Jail for Laundering $2.6M Through BTC ATMs
UK law enforcement authorities recently sentenced a 22-year-old man named Bazyli Rymarz to 5 year...
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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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UAE’s Economic Integration Committee Highlights Files of Mutual Investigation with FATF
In the latest Economic Integration Committee meeting, the UAE’s financial regulatory authorities ...
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US Senator Joe Manchin Introduces Digital Asset Anti-Money Laundering Act to Curb Unauthorised Crypto Flow
US Senator Joe Manchin, along with Senators Roger Marshall, Lindsy Graham, and Elizabeth Warren, ...
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TD Banking Group Expects US Penalties for Money Laundering
TD Banking Group disclosed that they expect fines and non-compliance penalties related to US auth...
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RICS Urges Firms to Adopt ‘Extremely Careful’ Due Diligence Measures
The RICS has issued a statement for its members urging them to adopt ‘extremely careful’ measures...
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National Westminster Bank Pleads Guilty to AML Breaches
NatWest has stated that it violated multiple anti-money laundering regulations that required the ...
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ChatBooks notifies users of the data breach after data sold on the dark web
ChatBooks has recently disclosed the data breach following a cyber attack on its system that resu...
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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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Crypto Bill Approved by the US Congress Set to Revamp Digital Asset Securities
The US Congress presented comprehensive legislation for the crypto market to redefine workflows a...
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Crypto Providers at Risk of Money Laundering & Terror Financing, Says FMA
The Crypto industry was rated high-risk in the latest sector risk assessment (SRA) of the FMA, wh...
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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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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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FATF meeting scheduled to discuss VASPs compliance
The Financial Action Task Force (FATF) has scheduled a plenary meeting on June 24 to monitor the ...
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