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FCA Takes NatWest to Court over Money Laundering Charges
The National Westminster Bank has been accused of neglecting the anti-money laundering regulation...
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TSB Fined $3.5M on Account of Four AML Breaches
New Zealand’s High Court has fined Trustee Savings Bank (TSB) Ltd NZD 3.5 million following the b...
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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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Namibia Launches Cyber Security Council to Curb e-Fraud
Namibia has established a cyber security council that would act as a useful forum for discussions...
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UK Regulators Obligates Crypto Firms to Submit Financial Crime Report
The UK’s financial watchdog, Financial Conduct Authority (FCA) has expanded financial regulations...
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North Korean bankers charged in $2.5 billion money-laundering scheme
The US Department of Justice recently revealed criminal charges against about twenty-four North K...
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AUSTRAC Hits Military Bank with Enforcement Action to Ensure AML Compliance
The financial regulator in Australia has hit the Australian Military Bank with implementation act...
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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...
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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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ePayments Systems Ltd to Permanently Close its Operations Due to Insufficient AML Protocols
FCA accused ePayments Systems Ltd of AML compliance failure. The financial money institution has ...
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UKGC imposed EUR 3.8 Million Fine on Genesis Global for Social Responsibility and Money Laundering Violations
After the two-year investigation, the United Kingdom Gambling Commission (UKGC) imposed EUR 3.8 m...
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Israel Enforces New Regulations for the Transfer of Digital Currency
The new digital currency regulations will allow Israeli banks to profit from cryptocurrency tradi...
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Kuwait’s Largest Money Laundering Lawsuit, The Malaysian Fund Case Comes to An End
Kuwait’s criminal court has put an end to the largest money laundering case by ruling the family ...
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New Variations in Business Email Compromise Accounted for Losses of $43 Billion, Says FBI
Introduction of new variations in Business Email Compromise scams netted $43 Billion in losses ca...
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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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$4.4 Billion Worth Cryptocurrency Stolen in 2019
The crypto analytics firm, CipherTrace released its Q3 2019 Cryptocurrency Anti-Money Laundering ...
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Online Gaming Company Fined €386,000 for AML Failings
Online Amusement Solution Limited, a gaming company, was fined more than €386,000 by the FIAU for...
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Hacker Group Profited $7M in Crypto by Selling Stolen Credit Cards
A hacker group “Keeper” developed an interconnected network of over 570 eCommerce sites to steal ...
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Italian Regulators Block Consumers from Investing in Binance
Italy has joined the list of warnings against Binance, directing citizens to avoid investing in t...
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Vending machines can now be operated with Bitcoins
Vending machines used by key Asia-Pacific soft-drink bottler and distributor Coca-Cola Amatil wil...
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BitGo settles with US Treasury; Sanctions Violations will Cost $98,830
The U.S. Treasury has settled with BitGo over costs that it helped users in authorised divisions ...
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Switzerland Endorses Rigorous AML Measures
Switzerland has introduced new anti-money laundering regulations to bolster financial institutes&...
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Ghana Records $4.33m Financial Losses to Cyber Fraud in Q1’23
Ghana suffered direct financial losses of US $4.33 million due to cyber fraud activities between ...
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Twitter Breach – Bitcoin Scams to the Next Level
A massive attack is reported on Twitter accounts of high-profile and well-recognized brands. Hack...
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Binance revokes Upbit hackers’ attempt to launder stolen funds
At just after 16:00 UTC Wednesday, bot Twitter account Whale Alert notified Binance – which has e...
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Local Election Officials’ Emails Could be at risk for phishing attempts
Cybersecurity firm Area 1 found 666 of 10,000 election workers used personal email accounts
Accor...
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Amendments in UK Supervision Laws Enhance Risk of Money Laundering
Accounting bodies have warned that changes in the UK supervision of AML compliance regulations wi...
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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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Australian Regulators Oblige Businesses to Report Suspicious Transactions
The Australian regulatory authorities ordered digital businesses to report cyberattacks and suspi...
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China Enhances AML Obligations to Combat Money Laundering
Chinese authorities have released the latest guidelines to enhance security in the financial sect...
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Beware of Puppy Scams This Holiday Season – BBB
The Better Business Bureau (BBB) has warned people to be cautious of online puppy scams, especial...
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UAE to Include Crypto Framework in their 2021 Business Agenda
The financial watchdogs in the UAE are looking towards developing a detailed crypto framework in ...
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Chinese Bank trials the test interface for PBoC’s Digital Currency
One of China’s largest state-owned banks, the Agricultural Bank of China (ABC) is testing a new i...
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Türkiye Removed From Gray List, India Recognized for Its AML Efforts, and Kuwait Urged to Have Better Money Laundering Control Measures: FATF Updates
On Friday, an international financial watchdog committed to securing the global economic system a...
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Mimecast reports a 26.3% increase in spams and opportunist cybercrimes during the first 100 days of COVID-19
With the current pandemic going on, cybercriminals are taking advantage of the situation escalati...
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Macau Police Arrests Cross-border Money Laundering Group for Illicit Financing of HK1.1 Billion
A group of 22 individuals were arrested by authorities in Macau and HK for suspicions of being in...
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Nigeria Employs New BOR Initiative to be Removed from FATF’s Gray List
A Beneficial Ownership Register (BOR) has been inaugurated by the Corporate Affairs Commission (C...
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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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South Korea to Crush Crypto Ignited Illicit Activities
South Korea has announced to eliminate all cryptocurrency-related illegal activities including mo...
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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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Victor Fredung Warns Businesses about the Rising Cybercrimes During Halloween
Halloween is one of the most awaited festivals throughout the year. While people plan different t...
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UK Regulators Obligates Crypto Firms to Submit Financial Crime Report
The UK’s financial watchdog, Financial Conduct Authority (FCA) has expanded financial regulations...
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Financial Crimes Surged Amid COVID-19, Says FATF
Financial Action Task Force (FATF) speaks up about the adverse effects of COVID-19 on financial r...
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Online Gambling Operator Penalized Over Failure to Meet Anti-Money Laundering Regulations
Boylesports, an online gambling operation is facing £ 2.8 million in fines for violating the regu...
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“Pension Fraud Hits £1.8 Million so far in 2021”, National Reporting Centre
National Reporting Centre for fraud and cybercrime has reported £1.8 million has already been los...
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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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Phillippines Added to FATF Gray List Again for Inadequate AML Casino Measures
The Philippine financial system did not comply with international Financial Action Task Force (FA...
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New Zealand’s FMA Issues New ID Verification Guideline
A new explanatory note has been issued by New Zealand identifying the sources of information that...
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China Tackles Money Laundering in Wild Species Trade
China’s Wildlife Protection Department, TRAFFIC organised training sessions for the anti-money la...
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EU Lawmakers Propose New Bill to Combat Money Laundering through NFTs
Members of the European Parliament have proposed a new bill to increase scrutiny of the NFT and D...
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US Treasury Holds Back AML Reforms Despite Money Laundering Through Art Industry
The US Treasury Department has found the country’s art market to be vulnerable to financial crime...
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Asia/Pacific Group on Money Laundering Releases 2021 Typologies Report
The report has highlighted areas of high priority that need further study and the risks associate...
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Crypto Adoption on the Rise, PayPal will Offer Crypto Payments in 2021
In the digital era, companies are shifting toward digital means of communication. Banks have plan...
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Economic & Financial Crime Bureau Gets Legal Powers as an Independent Authority
The Economic & Financial Crime Bureau and Financial Intelligence Unit [Bailiwick of Guernsey]...
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Philippine Senator Files an Anti-Online Gambling Bill Aiming to Curb Financial Crimes
Philippine Senator Joel Villanueva filed a bill imposing a ban on online gambling to prevent fina...
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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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IMF Urges Central Bank of Seychelles to Upgrade Transparency and AML Controls
The Central Bank of Seychelles (CBS) has been advised by the International Monetary Fund (IMF) to...
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NSW Make Reforms to Counter Money Laundering and Gambling
The New South Wales government embraces new reforms to counter the issue of money laundering and ...
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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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Singaporean Regulatory Authority Imposes $7.8M Worth of AML Non-Compliance Fines
The Monetary Authority of Singapore (MAS) has imposed $7.8m fines on financial sector businesses,...
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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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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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California university pays a million-dollar crypto ransom
As per reports, the University of California reportedly paid a huge ransom of $1.14 million in cr...
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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...
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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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AI-based voice cloning induces new scams
Vijay Balasubramaniyan, the CEO, CTO, and Co-founder of Pindrop Security, warns the world about a...
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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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Star Entertainment Group Hit with Record Fine of $100M for Money Laundering
Australia’s gambling giant Star Entertainment Group has been charged $100 million for failing to ...
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Money Laundering to Remain a Significant Challenge with Spike in Online Crime
Senior officers of Garda have indicated the rapidly rising problem of money laundering as the big...
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Global OCR market expected to reach $70 billion by 2030
The global OCR market is expected to grow at the CAGR of 15% from 2020 to 2030, reaching USD 70 b...
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Financial Watchdogs Flags Crypto Mixer Stoking as a Potential Risk For Money Laundering
Cryptocurrencies are highly criticized by financial watchdogs and governments for potential risk ...
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Financial Watchdogs in South Korea Add Guidelines for Crypto Transactions
Financial Watchdogs in South Korea will now oversee the activities regarding crypto in the countr...
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