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Chinese Authorities Bust 93 for Crypto Money Laundering Worth RMB 40 Billion
Chinese Authorities in the Hunan province have busted a criminal ring of 92 individuals for alleg...
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South Africa Introduces Biometric Child Registration To Stop ID Theft
The Department of Home Affairs (DHA) in South Africa recently introduced a new method of biometri...
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National Treasury of Kenya Urges Companies to Hire Anti-Money Laundering Officers
Kenya’s National Treasury Department forced financial and specified non-financial institutes to o...
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Australia DTA Consults on Upcoming “Trusted Digital Identity Bill”
The consultation will facilitate the Trusted Digital Identity Bill, making digital identity syste...
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Toronto: 4 People Charged for Alleged Identity Theft and Fraud Worth Millions
Toronto police seized millions of dollars, Porsche Panamera, and other identity details after a y...
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LocalBitcoins Matching Exchange, Cited By U.S. In Bizlato Case, To Shut Down After 10 Years
LocalBitcoins, the crypto firm named by the US treasury in the Bizlato exchange case, has announc...
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Lloyds Banking Group Initiates “Pilot Scheme” to Combat Frauds
Lloyds bank initiates a “pilot scheme” with the London police to counter criminal act...
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China Makes Facial Recognition Mandatory For Smartphone Users
China is making it mandatory for all smartphone users who register new SIM cards to submit to fac...
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Research for Implications of CBDC on the Rise in Australia
As of the November 2 announcement of the Reserve Bank of Australia, the country has partnered wit...
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Brazil to Adopt Tougher Penalties to Curb Money Laundering via Digital Currencies
The fine for digital currency money laundering in Brazil is set to be raised to two-thirds of the...
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Dubai Court Sentences Gang of 18 for Charges of Money Laundering
The Dubai Criminal Court has convicted a gang of 18 individuals belonging to different countries ...
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NY Lawmakers Approve Legislation Against Financial Fraud
Michael Gianaris, Deputy Leader of the Senate, recently announced his legislative measures to pro...
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“The Community” Fined $120M for Multi-million Cryptocurrency Theft Scheme
A sixth member of “The Community” was sentenced to 10-month imprisonment and over $120,000 fine f...
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Manitoba Expands Criminal Property Forfeiture Branch to Counter Money Laundering
The Manitoba government is expanding the Criminal Property Forfeiture (CPF) branch as part of its...
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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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Non-Compliant Banks Can End Up In FATF’s Gray list – Warns Governor of the South African Reserve Bank
Lesetja Kganyago, Governor SARB confirms to the Parliament’s standing committee about the i...
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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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Experts Warn that Scammers are Exploiting EU Users on Meta’s Threads
Meta’s Threads app has become the newest platform for cyber scammers to commit identity theft, cr...
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Bank of England fines Citigroup £44m Over Poor Financial Information
The Bank of England has fined the UK branch of the US bank, Citigroup, a record £44m because the ...
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EU and British Financial Watchdogs to Investigate Digital Stock Tokens
The German and British regulators are reportedly investigating the stock token trading, recently ...
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Wellington Real Estate Company Fails to Report Suspicious Activity on Properties
Mills Gibbon and Co, a Wellington-based real estate company, has been warned by the Department of...
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Nigeria’s Senate Passes Bill to Tighten Money Laundering Rules
Nigeria’s Senate has passed a bill that is aimed at improving the country’s money laundering regu...
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$8 Million Worth of Crypto Stolen From BitKeep Wallets
Cryptocurrencies worth $8 Million, including Binance Coin, Tether, Dai, and Ether, were stolen fr...
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EU Regulators Say Crypto Exchange Licenses Should be Revoked for Money Laundering
EU regulators have proposed that the licenses of crypto exchanges should be revoked in case of se...
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Financial Intelligence Center Says SA Car Dealers Are at High Risk of Money Laundering
The Financial Intelligence Centre (FIC) has said that SA’s motor vehicle dealers are at a high ri...
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UK Government to Introduce Age Verification Laws For Adult Websites
To restrict minors’ access to adult-oriented content, the UK government is working on impos...
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SuperCare Health Faces Lawsuit for Having “Incompetent Security Measures” to Stop Data Breach
Plaintiff filed a lawsuit against SuperCare Health in the US Central District of California and a...
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Aussies Lost Record-breaking $851 million During COVID-19: ACCC Reports
Amid the pandemic, Australians lost a record-breaking amount of $851 million in 2020. According t...
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Kansas Reports Highest Number of Identity Theft Cases in 2020
New research conducted reveals that Kansas State has been ranked at number one for having the mos...
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£2 Million of Suspected Money Laundering Assets Seized by Royal Gibraltar Police
Following information from a Spanish law enforcement agency, the Royal Gibraltar Police have init...
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Lebanon Central Bank Denies Money Laundering Allegations and Embezzlement Charges
The governor of the Lebanese central bank appeared in the first court hearing on the premise of s...
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Queensland Launches New Inquiry into Star Entertainment’s Money Laundering Controls
Queensland initiates a new investigation to examine the money laundering controls of the Gambling...
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NAB Chief Urges Government to Reconsider Fines for Large Data Breaches
The Chief of NAB Ross McEwan has urged the government that penalties for data breaches charged as...
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BSP Warns Play-to-Earn Gamers about Potential Illicit Activities
Online gaming platforms should employ KYC verification processes to make payments more secure.
T...
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Iranian Banks in Bahrain to be Prosecuted for Breaching AML Sanctions
Bahrain’s public prosecutor declared that the 13 Iranian banks, including the Central Bank of Ira...
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Turkey at Risk of Becoming a Haven for Russian Sanctions
Turkey is facing rising pressure for compliance with sanctions imposed on Russia and to increase ...
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Singapore to Strengthen Security Measures Against Phishing Scams
Singapore is taking steps to introduce additional security measures to detect suspicious transact...
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Fraudsters Target UK’s £400 Energy Bill Support Scheme through Scam Texts
Fraudsters are taking advantage of the support program initiated for people to lessen the burden ...
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FINMA Allows Chip Scanning and Geolocation for Digital Customer Onboarding
The FINMA now enables the scanning of microchips inserted in biometric ID documents as an element...
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Singapore’s Public Warned Against the Highly Volatile Crypto World
Singapore’s financial regulators once again warn their public about the risks of the cryptocurren...
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A Ponzi Scheme of $2.7 Million Unleashed
According to the U.S Department of Justice, a former attorney from Allentown was sentenced to six...
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Global Banks Slapped with a Total of $14.21 Billion Fines in 2020
Finbold released a report on the global banks that were fined in 2020. According to the report, a...
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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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Jamaican Senate Approves Order to Combat Money Laundering
The Jamaican Senate recently approved the Proceeds of Crime (DNFBPs)(TCSPs) Order, 2022, which is...
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Italy Launches Money Laundering Investigations into Qatargate Associates
Italian prosecutors have launched a probe related to the EU parliament Qatargate affair as a new ...
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FinCEN Alerts FIs of Sanction Evasion by Russian Entities Implicated in U.S. Commercial Property Investments
FinCEN alerted all the Financial Institutions warning about the risk of investment from sanctione...
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Vietnam’s New Legislation on E-Transactions Will Take Effect on July 2024
The National Assembly of Vietnam passed the new e-Transaction law replacing the previous one, No....
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EU Limits Use of Cash and Cryptocurrency to Curb Financial Fraud
The European Union (EU) has issued new measures to limit use of cash and cryptocurrencies to tack...
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Nepal’s Foreign Employment Sector Witnesses a Surge in Fraudulent Cases
The number of individuals seeking international employment from Nepal has increased, and so do th...
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FirstBank of Nigeria Continues Commitment to Combating Money Laundering
Chief Executive Officer of the First Bank Group of Nigeria Limited, Dr. Adesola Adeduntan, noted ...
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Former US Bank Risk Officer fined for AML oversight
Michael LaFontaine, former chief risk officer at U.S. Bank has been imposed a fine of $450,000 by...
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Ransomware attacks increase as more people work from home
According to a study published by the cybersecurity firm, Proofpoint, there has been an increase ...
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Google Warns 12,000 Victims of Government Hacks
In just three months, from July to September 2019, Google sent out 12,000 warnings to people who ...
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Westpac CEO Brian Hertzer Resigns Amid Money-Laundering Scandal
The chief executive of Westpac Banking Corporation, Brian Hartzer, has resigned and the chairman ...
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Crown Resorts Accused of ‘Serious and Systemic’ Money-Laundering Breaches
AUSTRAC has brought Crown Resorts to court as the casino breached anti-money laundering regulatio...
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EU Endorses New Crypto Tax Data Sharing Rules
Strict obligations are set to be implemented in the EU’s digital assets industry. Tax authorities...
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UK Launches New Crypto Asset Promotion Rules
The UK’s latest obligations on the promotions of the crypto service providers came into force thi...
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AFP to Crack Down on Italian Money Laundering Syndicates Operating in Australia
The AFP is set to crack down on Italian organised crime and money laundering syndicates flowing b...
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Interpol Seizes $130M Worth of Virtual Assets from Cybercriminals Worldwide
The International Criminal Police Organization Interpol has seized $130 million worth of virtual ...
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SEC Files Money Laundering Complaint Against Silverlion
The Security Exchange Commission (SEC) filed a case against Silverlion Livestock Trading Corporat...
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DBS Bank in Singapore Entering the Crypto Sector with Three New Offerings
Singapore’s largest commercial and retail bank, DBS, is likely to enter the cryptocurrency sector...
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Singapore replaces passwords and ID documents with facial recognition systems
As reported by Strait Times, Singapore plans to replace passwords and identity documents with bio...
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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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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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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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Crypto Exchange BKEX Freezes Withdrawals Under Money Laundering Investigation
BKEX withdrawals were suspended after funds on its platform were used to launder money, according...
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Swiss Prosecutors Open Probe Against “Suisse Secrets” Whistleblower
The Swiss Prosecutors have launched an investigation, not after the bank but against the Suisse S...
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US Authorities Seize Bahamas Bank for Laundering $58 Million
It’s rumoured that Deltec, a Bahamas-based bank popular with crypto clients, is linked to a...
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German Law Firm Denies Money Laundering Allegations Against Deutsche ReGas
Hengeler Mueller, a German law firm, investigated the loopholes in the Anti-Money Laundering (AML...
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Signature Bank under Criminal Investigation
US prosecutors are investigating the relation of Signature Bank with crypto clients as regulators...
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Westpac to Pay Penalties Totalling $113 Million for “Poor Compliance Culture”
Australian corporate watchdog imposed $113 million fine on Westpac bank for charging dead people ...
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PBOC Issues New Financial Rules to Curb Money Laundering Risks
The People’s Bank of China (PBOC), The China Banking and Insurance Regulatory Commission, a...
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