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Supreme People’s Court of China to Impose Severe Penalties for Financial Crimes
China’s top courts are set to impose heavier punishments to prevent financial crimes and mitigate...
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SEC & NYDFS Oppose Binance $1 Billion Voyager Deal
The Securities and Exchange Commission and the New York Department of Financial Services have spo...
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Two foreign nationals charged with Cryptocurrency laundering
The United States Department of Justice has charged two Chinese nationals with laundering $100 mi...
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FATF Upgrades Guidelines on Risk-Based Approach for VA/VASPs
FATF (Financial Action Task Force) is upgrading the regulations regarding the risk-based approach...
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Blockchain officially becomes part of China’s tech strategy
According to the National Development and Reform Commission (NDRC), China will use Blockchain to ...
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Korea FSC Confirms Plans for Crypto-focused Bureau at KoFIU
According to the FSC, the crypto-focused bureau will improve the transparency in virtual asset tr...
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CBN Introduces New Anti-Money Laundering Rules for Microfinance Banks
The Central Bank of Nigeria has issued a guidance note that is aimed to prevent money laundering ...
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Cloudflare Discloses Another huge DDoS Attack
Amid the COVID-19 outbreak, a surf in internet traffic can be seen and thus, an increase in cyber...
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$2 Trillion Moved and Now Banks Resist Money Laundering Orders
According to the ICIJ journalist, BuzzFeed shared some documents disclosing the attitude of finan...
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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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Westpac Freezes Executive’s Bonuses Amid Money Laundering Scandal
Westpac’s board will withhold bonuses of all of its senior executives as an ‘interim’ step follow...
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FinCEN Implements Stringent KYC Regulations For Digital Wallet
The USA Treasury Department has proposed KYC- Know Your Customer Regulations for the digital asse...
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£23.8 Million Fined to MT Global for AML Non-Compliance
A Money Service Business (MSB) firm, MT Global, penalized by HM Revenue and Customs for breaching...
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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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Thousands of NSW driver’s licenses exposed online in a data breach
Last week, tens of thousands of NSW driver’s licenses were left exposed online. The breach was ac...
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Cyberhack Discloses Data on Over 600,000 Medicare Beneficiaries
A data breach in May 2023 exposed the personal information of 612,000 Medicare beneficiaries, inc...
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FinCEN Warns Banks of Potential Russian Sanctions Evasion
The Financial Crimes Enforcement Network (FinCEN) has warned banks of possible suspicious practic...
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Hong Kong Authorities Warn Unregistered Virtual Assets Platforms May Face Large Fines and Imprisonment
On August 7th, the Hong Kong Securities and Futures Commission (SFC) warned all platforms working...
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South Kesteven Council Strengthens AML Controls for Right to Buy Scheme
South Kesteven council tightened the anti-money laundering controls over questions raised by buye...
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Turkey Set to Toughen AML Laws on Crypto Asset Platforms
Turkey is designing new and stricter obligations to prevent crypto-asset platforms from money lau...
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Cambodia’s Presence on The Global Watchdog’s Hit List is a Threat to Country’s Reputation- States Deputy PM
Due to the enhanced ratio of financial crimes and human trafficking in Cambodia, the deputy prime...
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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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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...
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FBI Expands its Corruption Unit to Closely Monitor Illicit Activities
The Federal Bureau of Investigation (FBI) has stepped in, to monitor international corruption by ...
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The FATF Gives The Philippines 2-3 Months to Address Remaining Deficiencies
Chuchi G. Fonacier, Deputy Governor of the BSP, said 4 of the 8 remaining Financial Action Task F...
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Philippine Plans to Introduce New Regulations on Beneficial Ownership
The Securities and Exchange Commission in Philippine has laid out new regulations that require tr...
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US Attorney’s Office Charges New York’s Oldest Mafia Clans for Money Laundering Scheme
The US Attorney’s office has accused the two of New York’s oldest mafia clans for laundering mone...
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Hacker attempts to steal crypto via fake Google Chrome extensions
A hacker is exploiting trust in renowned brands by creating fake cryptocurrency wallet extensions...
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FINTRAC Warns of Online Gambling Platforms Being Utilized for Money Laundering
Canada’s financial intelligence unit warns that illicit cash is being laundered through online ga...
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HKMA Fines Four Banks with $5.7 Million for AML Failings
Hong Kong’s financial regulator has imposed fines on four banks with a combined amount of $5.7 mi...
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Taiwan FSC to Ease Authentication Rules through Biometric Verification
According to new rules, banks will be using biometric authentication methods to fulfil ID authent...
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UAE Court Convicted 13 Indian Nationals and 7 Companies for Money Laundering Offenses
Thirteen Indian nationals and seven companies were charged with money laundering by the Abu Dhabi...
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EU Freezes $130 Million Worth of Assets Linked to Money Laundering in Lebanon
France, Germany, and Luxembourg have seized the properties and frozen assets worth $130 million l...
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One Million Student Records Compromised by E-Learning Sites
About one million online student records that contain personal information of students have been ...
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“Illicit Actors are Turning to E-commerce as a Money Laundering Tool” UAE Central Bank Discloses
The United Arab Emirates central bank sees increased risks of illicit financial flows emerging fr...
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Australian Gold Company, The Perth Mint, Accepts Voluntary Undertaking to Avoid AML Fines
The Australian gold corporation, the Perth Mint, escaped penalties for inadequate compliance syst...
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Global Plight: Australia Paves the Way for Money Laundering in the Property
Australia facilitates money laundering through the property, causing a global plight and perpetua...
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13K Affected in Third-Party Data Breach at Anthem MaineHealth
A third-party service provider accessed the database of Anthem MaineHealth and obtained patients’...
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UK Parliament Legislates New Digital Identity Verification Services Bill
On Wednesday, in the King’s Speech, the UK government presented a new Digital Identity Verificati...
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The US Treasury Department OFAC Enforces Whistleblower Programmes
According to the US Treasury’s Department Office of Foreign Assets Control (OFAC), companies must...
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China Announces Anti-foreign Sanctions Law
Under the new law, China has introduced countermeasures against senior managers and actual contro...
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“Student” Occupation Flagged for Money Laundering in Canadian Real Estate
Son of “wanted for defrauding 60,000 investors” Chinese parents laundered millions of dollars int...
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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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Australia sues Facebook for $525 billion
A lawsuit was filed against Facebook by Australia’s privacy regulator, blaming the social media p...
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Albania’s Fight Against Money Laundering and Terrorist Financing Gains Traction
Based on the Council of Europe’s MONEYVAL review report, published on June 21st, Albania ha...
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Fraud claim filed against HSBC Bank for ‘sham’ investment scheme
A fraud claim worth £1.3 billion has been submitted by 371 investors against HSBC UK Bank for los...
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11 Arrested for Illegal Offshore and Cross-Border Gambling Activities in Macau
11 people arrested along with businessman Alvin Chau in an investigation of bogus gambling scheme...
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The Czech Republic Government Amends Beneficial Ownership Law to Meet AML Obligations
The Czech Republic government revised Beneficial Ownership Law upon the European Commission’...
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New York man charged with trafficking credit card details
According to a federal indictment, Vitalii Antonenko, 28, was alleged in the U.S District Court f...
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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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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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New Zealand to Introduce Digital IDs to Foster Trust in Online Transactions
New Zealand is working towards a national law that would bring consistency to the country’s effor...
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UAE Receives Observer Status at APG For Money Laundering
UAE becomes the first Arab country receive an observer status at the Asia/Pacific Group of Money ...
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MFSA, SEC, Along with FCA Introduces New AML Guidelines for Money Laundering Officers and Virtual Asset Service Providers
The Malta Financial Services Authority (MFSA), Securities and Exchange Commission (SEC), and Fina...
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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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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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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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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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Nevada Takes Measures to Combat Unemployment Insurance Fraud
District of Nevada’s Office of U.S Attorney has shown concerns about the rise in unemployment ins...
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Cyberattack Prompts Dallas Firefighter and Police Associations to Demand Identity Theft Protection
It has been three weeks since Dallas’ operations were affected by a municipal network outage. Som...
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SRA Fines Scarborough Law Firm for Long-term AML Compliance Failures
The Solicitors Regulation Authority (SRA) has fined Scarborough law firm Pinkney Grunwells Lawyer...
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The Rise of FinTech Services can Spur Financial Risk: Says U.S. Bank Regulator
According to the US bank regulator, banks and the fintech alliance for a seamless customer experi...
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EU Legislation Bans On-cash Deals Over €10,000 Due to Money Laundering Threats
The European Union’s ban on cash payments over €10,000 for transactions such as car payments is e...
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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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WHO Warns about Online Job Scams during COVID-19 Pandemic
A message shared on WhatsApp and Facebook claims that the World Health Organization (WHO) is adve...
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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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Deutsche Bank Subordinate DWS Fined $25 Million for AML Violations
In the latest enforcement action, the Security Exchange Commission (SEC) has fined $25 million to...
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Police warns after an increase in online scams selling face masks
The Cleveland Police has warned the public regarding the increasing number of Coronavirus related...
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Egypt to Enact Updated AML Legislations and Develop Action Mechanisms to Curb Financial Crimes
Egyptian Money Laundering and Terrorist Financing Combating Unit (EMLCU) is all set to enact revi...
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GIABA to Release Liberia’s AML and CFT Compliance Evaluation Report
The GIABA has finally released its findings about Liberia’s gains and challenges in the fight aga...
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Bipartisan Senators Propose Amendment of the National Defense Authorization Act to Prevent Crypto Money Laundering
Bipartisan lawmakers in the US amended the obligations of anti-money laundering and updated the N...
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FIU in Sri Lanka Penalises Financial Firms over AML/CFT Non-Compliance
Sri Lanka’s Financial Intelligence Unit (FIU) has recently penalised two financial institutions i...
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