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IMF Warns Nigeria on Risks Arising from Central Digital Currency eNaira
The IMF has warned the Central Bank of Nigeria (CBN) about the risks of money laundering and terr...
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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...
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Shufti beats 26 global competitors in the Video KYC challenge at MEFTECH KSA
Yesterday, February 26, Shufti was announced the winner of the Lulu money’s Video KYC for Cus...
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Mega Bank Fined $10 Million in Fake Mortgage Case
Due to poor internal controls, 28 fraudulent mortgage applications went undetected.
The Financia...
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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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China’s securities watchdog commits to clean up financial markets
SHANGHAI – China’s security watchdog vowed a number of measures to clean up its financial m...
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UAE central bank alerts about fraud attempts related to Coronavirus epidemic
Bank customers are warned of potential fraud by the UAE Central Bank. According to the bank, “Fra...
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AUSTRAC: Loan Fraud is the Main AML/CFT threat to Non-banks
AUSTRAC report states loan scams and identity fraud as the main threat to AML/CFT compliance when...
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Money Laundering in Ireland Skyrockets as Criminals Move Online
The cases of money laundering in Ireland has more than doubled last year and now it has spiked si...
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SEC Warns Wall Street to Enhance AML Systems
US regulatory authority, the Security and Exchange Commission (SEC), warns Wall Street brokers of...
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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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China’s Fight Against Rampant Telecom Scams – Cracked 5,94000 Cases in Just 15 Months
China has passed a law to prevent telecom and online scams, allowing enforcement agencies to foll...
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CBN Fines GTBank N128M for Failing to Meet AML and CTF Requirements
The Central Bank of Nigeria (CBN) has charged Guaranty Trust Bank (GTBank) with N128 million for ...
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France to Implement Stringent Regulations on Cryptocurrency
France is planning on regulations that abolish the anonymity in cryptocurrency. Financial authori...
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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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IMF Joins Hands with Philippines on Wholesale CBDC Project
IMF has announced the collaboration with BSP (Bangko Sentral ng Pilipinas) for the development of...
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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 ...
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Amendments to ‘Trust Property Control Act’ May Still Require Revisions
FISA (Fiduciary Institute of Southern Africa) and other notable trust law experts have expressed ...
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FATF Calls for Tighter Regulations to Fill Voids in Virtual Asset Compliance
The Financial Action Task Force (FATF) highlighted a regulatory gap in the compliance system for ...
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Central Banks of UAE and Saudi Arabia Released a Joint Report on CBDC
A joint report published by the central banks of UAE and Saudi Arabia, two countries with the mos...
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455 Social Media Accounts Flagged for Rolling Out Fake IDs – Europol Reports
455 social media accounts flagged by Europol, which were providing fake identity documents to ill...
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UK to Mandate the Declaration of Crypto Holdings in Self-Assessment Tax Return Forms
The UK government is looking to mandate the declaration of crypto holding in Self Assessment tax ...
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Hacker steals $250K by exploiting Bitcoin exchange Bisq
A hacker identified a significant software flaw on the decentralized Bitcoin exchange, Bisq, to s...
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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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China Postpones New AML Rules Amid Privacy Concerns and Pushbacks
China has delayed the introduction of new rules for due diligence as financial institutions requi...
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UK Finance Sector and Police Stopped £32m Fraud in First Half of 2021
The ‘Banking Protocol’ introduced in 2016 has now helped prevent financial fraud worth £174...
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EDD Fraud Scandal in California – 87 Suspects Arrested
Within two weeks, the Beverly Hills Police have arrested 87 people that are suspected to be invol...
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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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Binance Expands Footprint in Europe as it Acquires License to Operate in Sweden
The Swedish financial supervisory authority (FSA) allowed Binance to operate in the country, whic...
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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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Yemen Government Accused of Money Laundering by United Nations
Monitors of U.N sanctions have accused Yemen’s government of corruption and money laundering. A r...
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UK’s Regulatory Agencies not Coming Slow Against Money Laundering
HM Revenue & Customs carried out an extensive investigation on the UK’s real-estate agencies ...
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Travel and Leisure Industry is at Peril of Facing Data Breach
The travel and leisure industry is already facing a difficult time right now, they do not need to...
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China’s Top Leaders Indicate the Further Tightening of Financial Regulations
Chinese leaders have indicated that the country will move to further strengthening of financial r...
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“Money Mule Crimes Double in Cork, Students are an Easy Target”, Says the Police
According to police investigations, the number of money mule activities in Cork city has doubled ...
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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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Swiss Government Gears Up to Establish a Central Registry for Beneficial Ownership
The Swiss government plans to set up a central registry for beneficial ownership, a step that ind...
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Monetary Authority of Singapore (MAS) Fines Four Financial Institutions for Breaching AML Laws
A fine of S$3.8 million (Singapore dollar) was handed down by the Monetary Authority of Singapore...
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Hong Kong Launches Meta Verse to Combat Crypto Crime
CyberDefender Metaverse is the first metaverse platform launched by Hong Kong Police to combat cr...
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South Korea Unlikely to Legislate Crypto Regulations Before the U.S – Says FSC
South Korea’s Financial Services Commission focuses the cryptocurrency legislation. According to ...
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Shufti will provide 10 million free ID and face verifications
Shufti has launched one of a kind charity program for the non-profit and healthcare organizat...
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Ontarians Lost More than $118M to ‘Grandparent Scam’ in 2022, Reports
‘Grandparent scam’ cost Ontario residents more than $118 million. Scammers call elderly people an...
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Feds Uncover $12M Money Laundering Operation Between U.S. and Dubai
Prosecutors have uncovered a money laundering scheme dubbed “The Shadow Exchange” worth USD 12 mi...
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Peru Set Rules For Virtual Assets Platforms Under Anti-Money Laundering Regime
The Peruvian government ordered virtual assets service providers to report their activities to th...
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Monetary Authority of Singapore (MAS) Fines Four Financial Institutions for Breaching AML Laws
A fine of S$3.8 million (Singapore dollar) was handed down by the Monetary Authority of Singapore...
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Uruguay Faces 3 Obstacles in the Fight Against Money Laundering
Uruguay’s national secretariat unit, SENACLAFT, revealed three obstacles in fighting money launde...
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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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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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Internet fraud complaints went up by 30% last year
As per Economic Affairs Minister Nathalie Muylle, Belgium’s Economic Inspection Unit received 29%...
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Uganda Remains on FATF Graylist for Failing to Curb Money Laundering
Uganda is still under the scrutiny of AML/CFT agencies after failing to enforce regulations in NG...
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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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COVID-19 Vaccines at the Risk of being Illegally Obtained by Fraudsters
There is nothing more awaited than the coronavirus vaccine this year. The international agencies ...
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Melbourne Casino Crown Faces New Money Laundering Scandal
Crown’s licence for its Sydney casino has been suspended after an investigation revealed it facil...
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Australian Government to Extend AML and CTF Regime
The Australian Government has initiated a consultation on revising the Anti-Money Laundering (AML...
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FIU to Audit Crypto Exchanges, Aiming to Reduce Money Laundering
Financial Intelligence Unit under Financial Services Commission to audit Korea’s cryptocurrency e...
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Dutch Court Rules Out Duties Imposed by National Bank on Crypto Platforms
The Dutch District Court ruled out all National Bank’s duties on the crypto platforms by stating ...
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FinCEN Pinpoints Bitzlato as “Primary Money Laundering Concern”
FinCEN recognises Bitzlato Limited, a Hong-kong based virtual crypto exchange network, as a prima...
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Unlisted Crypto Exchange, JPEX, Investigated for Criminal Charges by SFC
The Hong Kong Security and Futures Commission (SFC) warned an unlisted crypto exchange platform, ...
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8.3 million users affected in ‘Freepik data breach’
Freepik, a free photo and graphics site, has disclosed a major data breach that affected nearly 8...
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Gaming & Investment Firms in Malta Penalised with €4.6M for AML Failures
The financial intelligence Analysis Unit has issued an annual report that shows that the total fi...
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BaFin Demands Deutsche Bank to Tighten its AML Controls
The financial regulatory authority in Germany, BaFin (Federal Financial Supervisory Authority) ha...
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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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New ultrasonic hack can manipulate your digital assistant
Researchers are advising consumers about a new type of hack that has recently emerged. It involve...
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Central Banks of UAE and Saudi Arabia Released a Joint Report on CBDC
A joint report published by the central banks of UAE and Saudi Arabia, two countries with the mos...
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Capital One Penalized $390M for ‘Willful’ Violation of the Bank Secrecy Act
Financial Crimes Enforcement Network (FinCEN) has imposed $390 million as penalty on Capital One ...
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Money Laundering Concerns Prompt Hong Kong Banks to Reject Crypto Transactions
Despite the Hong Kong government’s encouragement, two banks have rejected crypto activities...
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Homeland Security expects to have biometric data on nearly 260 million people
The US Department of Homeland Security (DHS) will soon have face, fingerprint and iris scans of a...
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FATF Member, Saudi Arabia, Winning the World Money Laundering Race
During a virtual meeting on Monday, the FATF supported Saudi Arabia to combat money laundering an...
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US Regulates Art Market as it is at High Risk of Money Laundering
Law enforcement agencies across the globe have turned their attention to the use of high-value ar...
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Danske Bank Facing the Long-term Cost of Money Laundering
Danske Bank is still facing the consequences of its involvement in the €200 billion worth of mone...
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EBA Issues Guidance on the Roles of AML/CFT Compliance Officers
The European Banking Authority has published guidelines that state the roles of Anti-money launde...
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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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