The Top 10  Most Difficult Countries for Identity Verification

The Top 10  Most Difficult Countries for Identity Verification

Download Report

    n-img-roi-cross

    Before You Go, Schedule Your Free Demo Today

    Valid Invalid number


    Note: Fields marked with an asterisk(*) are mandatory.

    n-exit-img-roi-cross

    Thank you for your demo request

    We appreciate your interest and look forward to discussing how our solution can meet your needs. Expect to hear from us shortly with scheduling details.

    Close

    The UK’s NCA Establishes New Unit to Clamp Down on Corrupt Elites & Money Launderers

    n-img-uk

    The UK’s National Crime Agency (NCA) created a new unit with the aim to target and investigate corrupt elites, sanction evaders as well as other entities involved in money laundering.

    According to an NCA spokesperson, the increase in money laundering activity from Russia, Ukraine, and Belarus since Russian president Vladimir Putin renewed his invasion of Ukraine in February was a contributing factor in the formation of the Combating Kleptocracy Cell (CKC).

    The spokesperson stated and also highlighted the surge in smuggling alongside illicit finance, and child sex trafficking activities in the region. He added, “The volumes of suspicious activity reports and defences against money laundering have gone through the roof since the invasion of Ukraine,”

    Specifically, the CKC cell will specifically aim at the corrupt elites that hold their assets in the UK including the people that are closely attached to Putin and his authoritarian regime who have thus managed to get away from sanctions or hide their assets from authorities.

    “We’ve now been given the powers … and the green light to go after some of these things,” the spokesperson said. “So we are obviously pushing forward as fast as we can.”

    Since the U.S. has recently committed funds to fight corruption, the U.K. has come under fire for what is believed to be a soft approach toward Russian oligarchs and kleptocrats, garnering the unflattering moniker “Londongrad” for the nation’s capital.

    The spokesperson mentioned “The real bit for me is that they [the U.S.] have had the Office of Foreign Assets Control (OFAC) for years,” while noting the UKs OFSI (Office of Financial Sanctions Implementation) is the only one taking off.

    That does not imply that British authorities have not succeeded in making life challenging for Russian oligarchs and kleptocrats. Roman Abramovich, the former owner of Chelsea FC, had his assets frozen in Jersey back in April. The following day, the U.K. announced that it had frozen another $13 billion from two of Abramovich’s associates.

    The spokesperson also highlighted the investigations of finances moved by the enablers via the companies, real estate agencies, and lawyers. “We’ve arrested a number of enablers across the regulated sector who support the transactions of the corrupt elites,” he said. “Many of these elites have used so many different enablers to make themselves comfortable in our country, from private schools to estate agents to auction houses to solicitors, you name it, they’ve used it.”

    He stated while emphasizing the efforts of the NCA authority to push back the Londongrad moniker, that all the states which allowed corruption to launder illegal assets into the UK are fair game.

    “As a result of our work in this space, we’ve already seen some corrupt Russian elites divesting of their U.K. assets,” the spokesperson said. “Given the number of enablers that we started to target or pick off, clearly some people have decided that the U.K. is no longer for them.”

    Suggested Read: UK Treasury Committee Launches Inquiry into the Role of Crypto Assets and the Associated Risks

    Related Posts

    News

    Skyrocketing NFT Sales Raise Concerns for Tax, Law Enforcement

    Last month, the sales for a digital art piece was surprisingly high and raised many questions for...

    Skyrocketing NFT Sales Raise Concerns for Tax, Law Enforcement Explore More

    News

    London’s Mayor Assures of the Strong Regulations Despite Brexit

    Bankers in the UK are looking towards the leniency in regulations and tax cuts due to Brexit. How...

    London’s Mayor Assures of the Strong Regulations Despite Brexit Explore More

    News

    US Launches First Criminal Prosecution for Alleged Cryptocurrency Sanctions Case

    Criminal charges are issued by the US Justice Department for the first time for transmitting more...

    US Launches First Criminal Prosecution for Alleged Cryptocurrency Sanctions Case Explore More

    News

    Optus Data Breach Leaves Millions of Australians at Risk of Identity Theft

    The APF is investigating Optus’s data breach that involves millions of customers’ per...

    Optus Data Breach Leaves Millions of Australians at Risk of Identity Theft Explore More

    News

    Saskatchewan Government Invests $1.66m to Support Fight Against Money Laundering

    The Government of Saskatchewan is spending $1.66 million on the Civil Forfeiture Program to back ...

    Saskatchewan Government Invests $1.66m to Support Fight Against Money Laundering Explore More

    News

    Singapore’s Regulatory Authority Fines US$1.7M to Resorts World Sentosa for Due Diligence Failure

    The gambling operator, Resorts World Sentosa (RWS), was fined by Singapore’s Gambling Regulatory ...

    Singapore’s Regulatory Authority Fines US$1.7M to Resorts World Sentosa for Due Diligence Failure Explore More

    News

    UAE to Issue Federal Licenses to VASPs in Efforts to Embrace Crypto

    The UAE is gearing up to issue federal licenses to virtual asset providers (VASPs) within a matte...

    UAE to Issue Federal Licenses to VASPs in Efforts to Embrace Crypto Explore More

    News

    Creating UBO Registry ‘Biggest Focus’ for US Treasury’s Anti-corruption Push

    As part of the US government’s AML reform plan, an ultimate beneficiary ownership register will b...

    Creating UBO Registry ‘Biggest Focus’ for US Treasury’s Anti-corruption Push Explore More

    News

    International Student Sues Commonwealth Bank for Money Laundering Scam

    An Indonesian student and her family sued the Commonwealth Bank as they lost millions of dollars ...

    International Student Sues Commonwealth Bank for Money Laundering Scam Explore More

    News

    Hong Kong opens up its first online-only bank

    According to reports, ZA Bank, the first online bank in Hong Kong, opened up on Tuesday (March 24...

    Hong Kong opens up its first online-only bank Explore More

    News

    France to Implement Stringent Regulations on Cryptocurrency

    France is planning on regulations that abolish the anonymity in cryptocurrency. Financial authori...

    France to Implement Stringent Regulations on Cryptocurrency Explore More

    News

    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 ...

    The Bahamas to Launch a Payment Card for Central Bank Digital Currency Explore More

    News

    Authorities Warn that the Current Crypto Landscape is Plagued with Scam

    According to the Connecticut State Police, the emerging virtual cryptocurrency market is prone to...

    Authorities Warn that the Current Crypto Landscape is Plagued with Scam Explore More

    News

    BPI Crackdowns on Money Mules to Secure Financial Institutions

    The Bank of Philippine Islands (BPI) was flagged on Wednesday as it was suspected to be involved ...

    BPI Crackdowns on Money Mules to Secure Financial Institutions Explore More

    News

    Danish Financial Regulatory Authority Orders Betfair to Address Money Laundering Violations

    A subsidiary of Flutter Entertainment, Betfair International, has been sanctioned by the Danish f...

    Danish Financial Regulatory Authority Orders Betfair to Address Money Laundering Violations Explore More

    News

    U.S States Open up to the Idea of Digital IDs in Post Pandemic World

    The ID cards that were used by millions of people as proof of their identity may soon become a th...

    U.S States Open up to the Idea of Digital IDs in Post Pandemic World Explore More

    News

    Hong Kong Sees 20-fold Spike in Investment Scam Losses – Report

    According to the Police, 725 cases of investment scams occurred within the first seven months of ...

    Hong Kong Sees 20-fold Spike in Investment Scam Losses – Report Explore More

    News

    Visa: CBDC is the most important trend in payments

    According to Visa’s Head of Crypto, Central Bank Digital Currencies, or CBDC, seems to be one of ...

    Visa: CBDC is the most important trend in payments Explore More

    News

    Crown Casinos Fined $450 Million for AML Failures

    Casino operator Crown should pay a fine of $450 million for 546 violations of anti-money launderi...

    Crown Casinos Fined $450 Million for AML Failures Explore More

    News

    FCA Fines Santander and Metro Bank for AML Compliance Gaps

    The financial market regulator FCA has found compliance gaps in Anti Money Laundering (AML) syste...

    FCA Fines Santander and Metro Bank for AML Compliance Gaps Explore More

    News

    Joint ATO Operation Busts $137m Fraud Ring

    The Australian Border Force (ABF) and the Serious Financial Crime Taskforce (SFCT) have jointly i...

    Joint ATO Operation Busts $137m Fraud Ring Explore More

    News

    Peru’s Former and Current President under Investigation for Alleged Money Laundering

    Peru’s former and current presidents are under investigation for alleged money laundering a...

    Peru’s Former and Current President under Investigation for Alleged Money Laundering Explore More

    News

    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...

    Former US Bank Risk Officer fined for AML oversight Explore More

    News

    Amended Secrecy Law to Help Philippines Exit the Grey-List

    The Philippines has proposed amendments to the Banking Secrecy Law to regulate financial accounts...

    Amended Secrecy Law to Help Philippines Exit the Grey-List Explore More

    News

    Taiwan Initiates Industry Association to Regulate Cryptocurrency Sector

    Nine crypto exchange platforms formed a group to create an industry association to regulate Taiwa...

    Taiwan Initiates Industry Association to Regulate Cryptocurrency Sector Explore More

    News

    FinCEN and FDIC to Test the Effectiveness of Digital ID Verification Tools

    Two federal regulators – the FinCEN and FDIC have called for a ‘tech sprint’ to assess the ...

    FinCEN and FDIC to Test the Effectiveness of Digital ID Verification Tools Explore More

    News

    The UK’s Financial Services Minister States Banks Should Not Close Accounts Based on Political Views of Their Customers

    The financial services minister, Andrew Griffith, commented on July 4th that banks should be requ...

    The UK’s Financial Services Minister States Banks Should Not Close Accounts Based on Political Views of Their Customers Explore More

    News

    China’s cyberspace regulators approve 224 blockchain ventures

    China’s Office of the Central Cyberspace Affairs Commission (OCCAC) has recently announced a new ...

    China’s cyberspace regulators approve 224 blockchain ventures Explore More

    News

    Californian man apprehended in Moorpark ID theft case

    A 37-year-old man in the Californian city of Bakersfield was arrested on Wednesday on suspicion o...

    Californian man apprehended in Moorpark ID theft case Explore More

    News

    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 ...

    Fraudsters Target UK’s £400 Energy Bill Support Scheme through Scam Texts Explore More

    News

    CBR to Restrict Crypto-Related Transactions to Prevent Financial Crime

    The Central Bank of Russia is limiting ways for cryptocurrency investments including blocking pay...

    CBR to Restrict Crypto-Related Transactions to Prevent Financial Crime Explore More

    News

    BNM Issues New Policy For Remote Corporate Customer Onboarding

    BNM has issued a new policy document that permits MSBs to onboard customers remotely in the corpo...

    BNM Issues New Policy For Remote Corporate Customer Onboarding Explore More

    News

    Skyrocketing NFT Sales Raise Concerns for Tax, Law Enforcement

    Last month, the sales for a digital art piece was surprisingly high and raised many questions for...

    Skyrocketing NFT Sales Raise Concerns for Tax, Law Enforcement Explore More

    News

    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...

    South Africa Introduces Biometric Child Registration To Stop ID Theft Explore More

    News

    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 ...

    The Bahamas to Launch a Payment Card for Central Bank Digital Currency Explore More

    News

    New AML Reforms ‘Tranche 1.5’ Take Effect in Australia

    In an attempt to streamline customer verification and correspondent banking, AUSTRAC has issued r...

    New AML Reforms ‘Tranche 1.5’ Take Effect in Australia Explore More

    News

    Swiss FinTech Firm LeonTeq ‘Strongly Refutes’ Allegations of Suspicious Transactions

    Swiss FinTech firm LeonTeq has rejected allegations of suspicious transactions with possible link...

    Swiss FinTech Firm LeonTeq ‘Strongly Refutes’ Allegations of Suspicious Transactions Explore More

    News

    US Treasury Department Discloses Latest Beneficial Ownership Information (BOI) Guide

    The Money Laundering Bureau of the US Treasury Department issued the latest guide to assist small...

    US Treasury Department Discloses Latest Beneficial Ownership Information (BOI) Guide Explore More

    News

    UAE Delegation to Visit the US to Discuss AML Initiatives

    The UAE and the US put forward their efforts to minimize the risks associated with virtual assets...

    UAE Delegation to Visit the US to Discuss AML Initiatives Explore More

    News

    International Student Sues Commonwealth Bank for Money Laundering Scam

    An Indonesian student and her family sued the Commonwealth Bank as they lost millions of dollars ...

    International Student Sues Commonwealth Bank for Money Laundering Scam Explore More

    News

    DC is the Latest State to Sue Juul over Targeting Minors

    The District of Columbia is now the latest state to sue c-cigarette maker, Juul Labs, saying the ...

    DC is the Latest State to Sue Juul over Targeting Minors Explore More

    News

    $6.1 Million Seized As US Treasury Sanctions Another Crypto Exchange

    The US Department of the Treasury has sanctioned Chatex crypto exchange “for facilitating financi...

    $6.1 Million Seized As US Treasury Sanctions Another Crypto Exchange Explore More

    News

    UK Amends Corporate Act to Combat Economic Crimes

    The UK government reformed the Economic Crime and Corporate Transparency Act to expand regulation...

    UK Amends Corporate Act to Combat Economic Crimes Explore More

    News

    6 members charged with Fraud in China for involvement in Multi-billion Dollar Plustoken Scam

    Six alleged members of Plustokem scam were prosecuted according to the court filing submitted on ...

    6 members charged with Fraud in China for involvement in Multi-billion Dollar Plustoken Scam Explore More

    News

    US Seizes 18 Crypto ATMs Bought With Fraudulent Loans

    US law enforcement has seized 18 cryptocurrency automated teller machines previously purchased vi...

    US Seizes 18 Crypto ATMs Bought With Fraudulent Loans Explore More

    News

    Adelaide Casino to Face Court Action Over AML/CTF Violations

    AUSTRAC has revealed the beginning of civil penalty proceedings in the Federal Court against SkyC...

    Adelaide Casino to Face Court Action Over AML/CTF Violations Explore More

    News

    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...

    Financial gain surpasses espionage as a top motivator in cyber attacks Explore More

    News

    FATF Urges Japan to Implement Stronger AML Measures

    The FATF mutual evaluation report on Japan proposes the formation of a joint-agency body to enhan...

    FATF Urges Japan to Implement Stronger AML Measures Explore More

    News

    Australian Bank, Westpac, Accused of 23 Million Money Laundering Breaches

    Australia’s financial intelligence agency, The Australian Transaction Reports and Analysis Centre...

    Australian Bank, Westpac, Accused of 23 Million Money Laundering Breaches Explore More

    News

    Coinbase Attorney Urges SEC to Announce Crypto Rules

    Coinbase’s attorney forced the Securities and Exchange Commission (SEC) to announce a trans...

    Coinbase Attorney Urges SEC to Announce Crypto Rules Explore More

    News

    CBN, NFIU to Monitor Illicit Crypto Transactions in Centralized Exchanges

    The CBN and NFIU have been urged to track illicit transactions in cryptocurrency by engaging with...

    CBN, NFIU to Monitor Illicit Crypto Transactions in Centralized Exchanges Explore More

    News

    Bank of Ghana to Introduce Digital Currency in ‘Near Future’

    The Governor of the West African nation’s central bank, Ernest Addison, announced the news of Gha...

    Bank of Ghana to Introduce Digital Currency in ‘Near Future’ Explore More

    News

    FCA Takes NatWest to Court over Money Laundering Charges

    The National Westminster Bank has been accused of neglecting the anti-money laundering regulation...

    FCA Takes NatWest to Court over Money Laundering Charges Explore More

    News

    The US publishes a list of North Korea’s supposed Crypto crimes

    The US government, on Wednesday, outlined an aggressive set of countermeasures it said could hamp...

    The US publishes a list of North Korea’s supposed Crypto crimes Explore More

    News

    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...

    Taiwan’s Security Watchdog is Set to Regulate Local Crypto Industry to Prevent Money Laundering Explore More

    News

    UAE Banks Asked to Strengthen their AML/CFT Measures

    UAE financial institutions and the banks are required to prioritize eliminating money laundering ...

    UAE Banks Asked to Strengthen their AML/CFT Measures Explore More

    News

    Centra Tech’s Operator Sentenced a Year in Prison for ICO Fraud

    Robert Farkas has been arrested and charged with the lightest sentenced felony for his part in Ce...

    Centra Tech’s Operator Sentenced a Year in Prison for ICO Fraud Explore More

    News

    65,000 Australian Credit Cards Discovered on Dark Web

    A significant proportion of stolen credit cards contained private information such as addresses, ...

    65,000 Australian Credit Cards Discovered on Dark Web Explore More

    News

    EUR 27 Million Worth Crypto Assets Seized by the NCA in Money Laundering Crackdown

    NCA seizes crypto assets worth £27m last year in a major money laundering crackdown Although inst...

    EUR 27 Million Worth Crypto Assets Seized by the NCA in Money Laundering Crackdown Explore More

    News

    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...

    Kuwait’s Ministry of Social Affairs to Amend the Executive Law to Fight Money Laundering and Terrorism Explore More

    News

    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...

    Thai Police Bust $27M Crypto Scam and Seize Multiple Luxury Properties Explore More

    News

    2021 to Set New Record for Most Data Breaches in a Year

    Studies have shown a staggering 1,291 data breaches till the end of September this year, exceedin...

    2021 to Set New Record for Most Data Breaches in a Year Explore More

    News

    EU Money Laundering Overhaul Should Include NFT Platforms, Lawmakers Say

    The two crypto legislation adopted last week did not include unhosted wallets and decentralised f...

    EU Money Laundering Overhaul Should Include NFT Platforms, Lawmakers Say Explore More

    News

    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...

    Brazil to Adopt Tougher Penalties to Curb Money Laundering via Digital Currencies Explore More

    News

    Few Hours Left! Was Mail-in-Ballots Successful?

    The US elections 2020 have been exhilarating yet stressful for all the residents. The coronavirus...

    Few Hours Left! Was Mail-in-Ballots Successful? Explore More

    News

    Israel Enforces New Regulations for the Transfer of Digital Currency

    The new digital currency regulations will allow Israeli banks to profit from cryptocurrency tradi...

    Israel Enforces New Regulations for the Transfer of Digital Currency Explore More

    News

    New York Federal Reserve Sued by Puerto Rican Bank For Blocking Service in Venezuela

    A Puerto Rican bank has sued the New York Federal Reserve on 25th July for suspending their acces...

    New York Federal Reserve Sued by Puerto Rican Bank For Blocking Service in Venezuela Explore More

    News

    Beverly Hills Store Pleads Guilty to Conspiring with Drug Money Launderers

     U.S. Private Vaults, Inc. has pleaded guilty to charges on its Beverly Hills store of conspiring...

    Beverly Hills Store Pleads Guilty to Conspiring with Drug Money Launderers Explore More

    News

    Consumers Lost €15.6M to Impersonation, Investment, and Romance Scams

    Approximately 70% of Irish consumers have been targeted by some form of identity scam, according ...

    Consumers Lost €15.6M to Impersonation, Investment, and Romance Scams Explore More

    News

    Saudi Central Bank Instruct Banks to Combat Financial Crimes

    According to the Central Bank of Saudi Arab, the fraudulent operations are linked with the money ...

    Saudi Central Bank Instruct Banks to Combat Financial Crimes Explore More

    News

    UK Watchdog Fines Al Rayan Bank 4M Pounds Over AML Control Failures

    FCA, Britain’s financial watchdog, revealed on Wednesday, 11th Jan 2023 that it had imposed...

    UK Watchdog Fines Al Rayan Bank 4M Pounds Over AML Control Failures Explore More

    News

    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...

    Law firm Clyde & Co. fined $635K for Breaching UK Money Laundering Laws Explore More

    Take the next steps to better security.

    Contact us

    Get in touch with our experts. We'll help you find the perfect solution for your compliance and security needs.

    Contact us

    Request demo

    Get free access to our platform and try our products today.

    Get started