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“Beneficial Ownership Data Must be Structured, Centralised and Accessible”, Says GCFFC
According to the paper issued by the GCFFC, data must be structured, centrally collated, interope...
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Dubai Police Monitors Cryptocurrencies for Prevention of Money Laundering
The cybercrime unit of Dubai Police has started monitoring cryptocurrencies to ensure that digita...
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Facebook affirms Libra commitment with new job openings
According to the Irish Times. Facebook is planning to hire 50 people for its payment app Calibra ...
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UN Warns of Money Laundering Risks Arising from Mekong Region Casinos
According to the U.N. Office on Drugs and Crime, the bond of China and Thailand with Myanmar is g...
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FBI Reveals North Korea’s Lazarus Group Involvement in $41 Million Stake Hack
US Federal Bureau Investigation (FBI) has revealed that the North Korean hacking group, Lazarus, ...
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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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A Three-fold Rise in AML Penalties in China in 2020
China’s banks and financial institutions have faced an increase in penalties in the year 2020 due...
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FEMA Confirms Seizure of 288 Crore Funds of Chinese-owned NBFC
The FEMA has confirmed the seizure of 288 crores worth of funds of a “Chinese-owned” ...
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Georgia Ramps Up AML Measures to Combat Financial Crime
A new report released by the Council of Europe’s AML body has highlighted Georgia’s progress in c...
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KYC Alliance between Dubai Economy and six banks
As reported by Gulf News, Dubai Economy along with Emirates NBD, Emirates Islamic, HSBC, RAKBANK,...
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Home Office Reveals 20% of UK Businesses are Affected by Fraud
An extensive survey of thousands of businesses between 2018 and 2022 determined that one in five ...
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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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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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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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Russian police arrest former post office chief for mining crypto
A former Russian regional post office chief was involved in mining cryptocurrencies via the offic...
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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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Criminal Group in KSA Jailed 24 Years Over Money Laundering Offence
Criminals in Saudi Arabia sentenced to 25 years imprisonment after getting caught in money launde...
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Britain’s FCA Fines Ghanaian Bank for Insufficient AML Regulations
The Financial Conduct Authority of the UK has imposed fines of £5.8 million on Ghana Internationa...
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Anti-Money Laundering Initiative in Ireland Extended to Bitcoin
Cryptocurrency buyers and sellers in Ireland, under the new anti-money laundering regime, will no...
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MAS Rejects License Applications of 100 Crypto Exchanges for Ineffective CDD Protocols
Over 100 companies were either turned down or had to withdraw their applications for a license to...
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Czech Republic Ramps Up Efforts to Combat Financial Crimes
According to a Moneyval report, the Czech Republic is showing progress in improving its complianc...
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Regulators in Hong Kong Urge Banks to Accept Cryptocurrencies
Hong Kong banks are worried about regulatory repercussions for their crypto clients if money laun...
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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...
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EU Fines Hungary for Declining to Lift Restrictions on Foreign Funded NGOs
European Union, in Brussels, took an important step to penalize Hungary for not lifting restricti...
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Russian Government to Take Regulatory Steps to Harmonize Crypto Market.
Prime Minister of Russian has suggested that crypto should be recognized through the nation’s tax...
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Lithuanian Government Approves Amendment to Strengthen Digital Currency Regulations
Lithuania is on the verge of becoming the first country in Europe to pass strict laws on digital ...
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European Union Drafts Crypto Transfer Legislation to Curb Money Laundering
The European Union has introduced legislation to identify crypto transfers as part of wider anti-...
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Brazil to Introduce Facial Recognition to Verify People Wearing Masks at Airports
Countries across the globe are taking necessary steps to introduce facial recognition at the airp...
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Mexico: Federal Anti-Money Laundering Agency Freezes 1352 Accounts for Money Laundering
On Tuesday, the police and federal anti-money laundering agency said that they have frozen 1352 b...
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Australian Bank, Westpac, Accused of 23 Million Money Laundering Breaches
Australia’s financial intelligence agency, The Australian Transaction Reports and Analysis Centre...
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Lake County Attorney Launches a Financial Crimes Unit to Combat Fraud
Lake County state’s attorney announced a new Financial Crimes Unit to deal with money laundering,...
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AFM Fines Robeco €2 Million for AML Compliance Failure
The Netherlands’ financial regulator AFM has fined Robeco €2 million for failing to implement ade...
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US Accuses Crypto Firms for Serving as Money Laundering Hub
The US Treasury’s department targeted the crypto mixers to combat internationally operated financ...
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Argentina Proposes VASP Registry as Part of Updated AML Law
Argentina is preparing to update its AML and CTF law and has proposed to include a registry for v...
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UAE to Revolutionize the Financial Regulatory Requirements
A new set of measures are being taken by the Ministry of Justice in the UAE to curb the money lau...
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AUSTRAC Throws in Hands in their Fight Against Money Laundering through Casino Junk Operators
Australian regulatory bodies to fight financial crimes have known for quite a time that casino ju...
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Texans to be Among the Most Affected Nations in Global Cybercrime Operation, Warns FBI
According to the Federal Bureau of Investigation (FBI), Texans are likely to be among nations tha...
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FIAU Fines Crypto Firm €460,000 for Anti-Money Laundering Violations
FIAU (Financial Intelligence Analysis Unit) charged a crypto exchange and broker with a €463,235 ...
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Dubai Police Monitors Cryptocurrencies for Prevention of Money Laundering
The cybercrime unit of Dubai Police has started monitoring cryptocurrencies to ensure that digita...
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UK to Apply Digital Identity Verification Across Government Services
Michael Gove, Cabinet Office Minister has written to Whitehall departments about obligating the u...
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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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Singapore, Cyprus, and the US Expedite Efforts to Combat Financial Crimes Effectively
Singapore, Cyprus, and the US are stepping up their efforts to curb financial crimes while aiming...
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Alfa-Bank to Offer Blockchain-Based Services for the Self-Employed People and Freelancers
Alfa-Bank is one of the largest private commercial banks in Russia which is exploring blockchain-...
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The UK Introduces New Bill to Combat Identity Fraud and Financial Crime
The UK government has launched a bill to prevent the flow of dirty money through its economy by c...
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“Lack of Face-to-Face Verification is a Risk for FIs”, Reported MAS & ABS
Monetary Authority of Singapore (MAS) and the Association of Banks in Singapore (BAS) have publis...
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Philippines Directs Efforts & Demonstrates Progress in Resolving AML Concerns
The Asia Pacific Group on Money Laundering (APG) has raised the Philippines’ rating from pa...
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FSA Imposed £247,324 Fine on Standard Bank for “Serious Regulatory Failings”
The Isle of Man Financial Services Authority (IOMFSA) has imposed EUR 247,324 fine on Standard Li...
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Argentina Proposes VASP Registry as Part of Updated AML Law
Argentina is preparing to update its AML and CTF law and has proposed to include a registry for v...
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North Korean Hackers Attempt to Launder ETH Worth $27M from Harmony Bridge Attack
North Korean hackers behind the Harmony Bridge attack continue to attempt to launder crypto funds...
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ML/TF Legislation for Art Industry Labeled ‘Damaging and Unjust’
Cinoa, the international art & antiques dealers’ association has issued an open letter signed...
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U.S Congress Suspects the Use of Bitcoin to Fund Domestic Terrorism
U.S Congress subcommittee worries that Bitcoin might have been used in funding the Capitol revolt...
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FATF applauds Korea’s AML and CFT efforts
According to the FATF, Korea features a sound legal framework to tackle money concealment and ter...
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Payment Companies Suggest Best Practices To Stay Away From Bank Shutouts
Payment companies have proposed a set of best practices to avoid bank shutouts by protecting the ...
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Man Arrested For Stealing Identities, Funding 1800 Online Gambling Accounts
The man suspected of stealing other’s identities to create online gambling accounts has finally b...
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FinCEN and Federal Reserve Board Reducing the Bar for International Transactions
The FinCEN and Federal Reserve Board are planning to reduce the threshold for international trans...
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South Africa links fintech startups with financial regulators
South Africa’s financial regulators have initiated the Inter-governmental Fintech Working Group (...
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11 Arrested for the First Money Laundering Case Using Digital Yuan
Chinese security officials have arrested 11 suspects in the first Central Bank Digital Currency (...
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RBI Allows Multinational Banks to Retain Limited Data Abroad for AML Screening
KYC data can be retained in offshore bank branches for the purpose of sanctions and AML screening...
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EU Contemplates New Anti-Money Laundering Body in the Wake of Scandals
Brussels plans to pursue the strengthening of powers of the EU agencies to combat money launderin...
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New York’s Attorney General Bent on Shutting Fraudulent Crypto Platform
New York’s attorney general has filed a lawsuit against a cryptocurrency platform, known as Coins...
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Dutch Rabobank Under Investigation Over Suspected AML/CTF Violations
According to the Netherlands’ second largest money lender, Dutch prosecutors are investigating Ra...
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Dutch Authorities Seize $29 Million in Cryptocurrencies After Money Laundering Investigation
$29 million in crypto were seized over the last few months in money laundering investigations car...
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Russian Government to Fight Cybercrimes for Digital Economy
A report by TASS news agency states that the Russian government plans to develop a center to figh...
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New Jersey Hospital System Hit By a Ransomware Attack
One of the largest hospital systems of New Jersey has reported that it was hit by a ransomware at...
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Facebook’s Calibra rebrands to Novi wallet
Facebook subsidiary and Libra wallet provider Calibra, has recently been rebranded to Novi. The n...
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Anonymous Report Reveals Indian Indiscriminate Targeting Against NGOs
According to the shadow report, India has been indiscriminately targeting non-governmental organi...
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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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FCIU Uncovers Money Laundering Patterns Through Social Media Scams
South Yorkshire law enforcement authority has seized EUR 70,000 placed in the illicit gambling ac...
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DOJ Arrested Three Individuals In A $722 Million Cryptocurrency Ponzi Scheme
The Department of Justice arrested three men on Tuesday, December 10, on charges of running an el...
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Central Bank of UAE Issues Updated Guidance For Licensed Financial Institutions
CBUAE issues updated guidance for licenced financial institutions on growing risks of money laund...
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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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The EU and UK Announce Major Regulatory Reforms to Safeguard Crypto-Assets
EU implements unified crypto-asset regulations, MiCA, and incorporates Travel Rule to secure cryp...
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