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US Senator Joe Manchin Introduces Digital Asset Anti-Money Laundering Act to Curb Unauthorised Crypto Flow
US Senator Joe Manchin, along with Senators Roger Marshall, Lindsy Graham, and Elizabeth Warren, ...
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ICAEW and B20 Task Force to Introduce Recommendations For Combating Financial Crimes
Policies for anti-money laundering and terrorist financing compliance will be introduced to comba...
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FMA Blacklists Krypto Security, Bay Exchange, and CTRL Investments Limited
New Zealand’s FMA has warned investors against services and products being offered by unauthorize...
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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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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...
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Austrac Warns of Money Laundering Risks Unless More Prosecutions are Conducted
Austrac has warned the law enforcement agencies in Australia that they must conduct more money la...
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Dubai KYC consortium to enhance UAE bank profits
According to Moody’s Investors Service, the recently formed Know Your Customer (KYC) consortium i...
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Finance Minister Şimşek States Turkey will Devote Itself to the Prevention of Money Laundering
Deputy Treasury and Finance Minister Mehmet Şimşek stated that Türkiye would counter terrorist fi...
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FIAU Fines iGaming Company Approximately €236,789 for Money Laundering
The Financial Intelligence Analysis Unit has ordered a Malta-based remote gaming operator to pay ...
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Australian Government Introduces $800 Million Budget for New Technology and Expands Digital Identity Checks
The Morrison government has announced an $800 million budget for expanding digital identity check...
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Regulators Express Concerns on TD Bank’s AML Practices Leading to Merger Termination to Acquire First Horizon Bank
TD Bank was being examined by the Office of the Federal Reserve and the Comptroller of the Curren...
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PayPal Announces Suspension of UK Crypto Purchases from October
PayPal announced a temporary ban on UK cryptocurrency purchases, demonstrating their swift compli...
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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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Japan Revises Six Laws to Tackle Money Laundering in Cryptocurrency
The Japanese government is pondering enacting a new law. The “bundling bill” proposed...
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Better Business Bureau of North America Warns of Increased Scams & Fraud
On April 11, Marilyn Mott, director of the Better Business Bureau’s Prescott office, addressed a ...
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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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ECB Will Be Launching Digital Euro Project
An electronic equivalent of banknotes and coins, the digital euro will likely be a digital wallet...
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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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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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‘EU Has Fragmented Approach to Combat FinCrime’, Says ECA
The European Court of Auditors (ECA) has identified weaknesses in the Anti-Money Laundering polic...
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Central Bank of Nigeria (CBN) Gives Financial Institutions 30 day Deadline to Close Accounts Without Bank Verification (BVN)
Financial institutions and banks have been given a 30 days notice period by the Central Bank of N...
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China Introduces 5-Point Strategy to Enforce Crypto AML Measures
China’s newly appointed governor of the Central Bank emphasised the AML regulations to safeguard ...
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UK Banks and Tech Firms Call on Regulators for Guidance on Tackling Scams
Banks, tech, and telecom firms in Britain have called on lawmakers and regulators to make it easy...
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IRS Criminal Investigation Uncovers Approx. $10 Billion Worth of FinCrime
IRS-CI FY 2021 highlighted $2.19 billion in tax fraud, $8.18 billion in financial crimes, 1497 wa...
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ACCC Calls for Heavy Penalties to Make Tech Giants Scam-free
The Australian Competition and Consumer Commission (ACCC) has demanded severe penalties linked to...
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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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Exchanges in Nigeria to Take Measures Against Crypto Scams
Nigerian cryptocurrency industry is to take strong measures to guarantee a safe trading environme...
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FATF to Publish Revised Guidelines For Virtual Assets Service Providers
The Financial Action Task Force is all set to publish updated guidelines on virtual assets on Oct...
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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 ...
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Ransomware attacks three US universities
A ransomware group has successfully stricken three universities within the week. They claim that ...
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CSSF Imposed a €226,000 Fine on Maitland Over AML Compliance Failure
Maitland Luxembourg SA received a penalty of €226,000 over anti-money laundering and customer due...
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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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EU Court of Justice Passes Judgement Against Provision of AMLD5
EU Court of Justice has passed a judgment against the provision of the AMLD5, concluding that pub...
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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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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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AMLC Freezes Assets of 16 Groups Labeled as Terrorist Organizations
The Anti-Money Laundering Council in the Philippines has frozen the accounts of 16 organizations ...
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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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Brazil’s financial regulator launches regulatory blockchain
The Banco Central do Brasil (BC) recently declared the launching of a new blockchain platform cal...
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FBI Seizes $1.7M During 3-Month Crypto Operation
During a 3-month operation from March to May, the FBI seized $1.7m worth of cryptocurrencies, inc...
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US Crypto Industry Faces Pushback on Implementation of Crypto-Friendly Legislation
The US crypto firms visited Capitol Hill to push their industry-friendly regulations however, thi...
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Australia to Ban Credit Cards for Online Gambling to Prevent Payment Fraud
The Australian government will soon ban online gambling with credit cards. The government will in...
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FINMA Allows Chip Scanning and Geolocation for Digital Customer Onboarding
The FINMA now enables the scanning of microchips inserted in biometric ID documents as an element...
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Crypto Industry Rejects New Rules to Report NFT and DeFi Transactions
The representatives of the Crypto industry have disapproved of reporting data about NFTs, DeFi tr...
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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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AML investigation results in NZ police freezing $140 million
Police have collected $140 million from the Canton Business Corporation and its owner Alexander V...
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Vietnam’s Ministry Concerned About the Risks Attached to Crypto Trading
The Finance Ministry in Vietnam has declared that cryptocurrencies have no legal framework in the...
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California to Legislate Stronger Children’s Online Safety Bill
Assembly Bill 2273 for children’s online safety and privacy was approved by lawmakers in Ca...
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South Africa’s Addition to FATF Gray List Causes Unforeseen Repercussions on Tax Law Implementation
Tax Consulting SA’s report has revealed that greylisting has caused disquietude surrounding...
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The UK plans to levy on banks to prevent money laundering
According to Reuters, Britain plans to announce a new levy on banks and other financial instituti...
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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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FATF Removes Cayman Islands and Panama From Increased AML Monitoring List
In the last plenary meeting of the Financial Action Task Force (FATF) on October 27th, the Cayman...
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US Federal Reserve Fines Deutsche Bank $186 Million for Anti-Money Laundering Failures
The Federal Reserve announced on July 20th that it had fined Deutsche Bank (DBKGn.DE) and some of...
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Police busted a massive £215m money laundering ring in the Northern Ireland
PSNI police arrested 7 individuals following one of the biggest money-laundering investigations i...
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Canada’s MP Introduces Private Member’s Bill to Amend Criminal Code
The members of parliament of Simcoe North, including the deputy minister of finance, have introdu...
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New Zealand to Update AML/CFT Regulation from 9 July 2021
Among other changes, reporting entities have been directed to conduct customer due diligence on n...
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Swiss Govt. to Amend Banking Act for Press Freedom in Finance Sector
The Swiss Government has signaled to amend the banking act for press freedom in the finance secto...
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FATF Discloses Outcomes of October Plenary Meeting
The international regulatory authority, Financial Action Task Force (FATF), concluded its fourth ...
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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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AMLC Demands Rigid Security Measures for Non-Compliant Businesses in the Philippines
The Anti-Money Laundering Council (AMLC) is pushing for more strict due diligence measures on del...
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DFSA and Financial Intelligence Collaborate to Combat Financial Crime in UAE
Memorandum of Understanding (MoU) between the Dubai Financial Services Authority (DFSA) and the F...
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After China, Japanese Officials Considering to Introduce Digital Currency too
China has begun trials for its digital assets and issued 10 million yuan last week. The efforts o...
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Lebanon Central Bank Denies Money Laundering Allegations and Embezzlement Charges
The governor of the Lebanese central bank appeared in the first court hearing on the premise of s...
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Livestreaming Helps Shanghai Police Crack Money Laundering Case
There has been an arrest of a live streamer by Shanghai police who had been tipped off by a live ...
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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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SRA Fines Oxfordshire Law Firm over Weak AML Controls
The SRA (Solicitors Regulation Authority) has charged £20,000 to an Oxfordshire law firm after id...
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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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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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HKMA Fines Cathay United Bank’s Hong Kong Branch with HK$11m
HKMA investigated CUBHK for violating the Anti-Money Laundering and Counter-Terrorist Financing O...
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Corrupt Countries Tend to Have a Higher Number of Crypto Users, Says IMF
A recent International Monetary Fund (IMF) study shows that counties that have more corruption ha...
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Over $1 Billion Laundered Through Australia’s Pubs and Clubs Annually
A joint report by media outlets has shown evidence of over AU$1 billion being laundered throughou...
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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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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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