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UAE’s SCA Works on Virtual Asset Investment Regulations
The United Arab Emirates’ Securities and Commodities Authority (SCA) has said that it is ab...
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United Nations Calls for a Pact to Fight Financial Crimes
United Nations’ panel of experts has called on the governments around the world to take part in e...
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Uganda Remains Greylisted by FATF for Money Laundering
There will be no change to Uganda’s status on the “grey list” due to the countr...
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Russians Turn To Crypto As the West Imposes Financial Sanctions
Data has shown that Russians are turning towards transactions in cryptocurrency as a result of we...
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Shufti Unveils New Product NFC Verification for NFC Based Identity Verification
Shufti has launched a new product, NFC Verification, that uses Near Field Communication techn...
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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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Wells Fargo Hit With $37M Fine Over Forex Fraud
Improper financial handling, defrauding others, and taking advantage of customers has become a no...
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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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Australian Payment Network Reports 9.2% Increase in Payment Card Fraud
AusPayNet reports that the e-commerce industry experienced a 9.2% rise in payment card fraud due ...
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Financial Regulators in China Ban Bitcoin Trading for Financial Security
China imposed a fresh ban on the cryptocurrency sector making the price of bitcoin fall below $34...
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Money Service Businesses Tighten AML/CFT Measures Amid Challenges
Microfinance firms, remittance services, and cambios have reported success in upgrading AML/CFT m...
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Westpac Proven Guilty of Breaching Money Laundering Laws after Commonwealth Bank
Westpac was accused of violating the money laundering laws and counter-terrorism financial allega...
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HSBC reports money laundering violations in Australia
LONDON – According to Reuters, HSBC bank (HSBA.L) has reported itself to the Australian fin...
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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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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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FMA Gives Red Signal to Pencarrow Private Equity for AML/CTF Violations
The Financial Market Authority (FMA) has issued a formal warning to Pencarrow Private Equity Mana...
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Clubs to Adopt Digital Wallets as NSW Reveals Money Laundering Via Machines
The clubs in Australia are to adopt the digital wallet for poker machines as the regulators disco...
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US Court Sentences Nigerian FinTech Executives for Money Laundering Worth $167 Million
The US Court jails the Fintech Executives of Nigeria over a Money Laundering Case comprising $167...
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Formal Warning Issued to Westpac Over AML Failures, RBNZ Discloses
The bank underreported 8000 corporate transactions made overseas between July 2018 and February 2...
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After Targeting 30 People, the “Major Identity Theft Player” Got Arrested by MPD
Roseanna Russell, who the police call ‘mega player’, got caught by the Mobile police. The reports...
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Two of Singapore’s Banking Giants Involved in Billion-Dollar Money Laundering Case
The two well-known banks in Singapore, Development Bank Singapore (DBS) and Overseas Chinese Bank...
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Turkey at Risk of Becoming a Haven for Russian Sanctions
Turkey is facing rising pressure for compliance with sanctions imposed on Russia and to increase ...
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Reddit follows Facebook suit and bans impersonation on its platform
Earlier this week, Facebook announced its new policy to ban manipulated pictures and videos known...
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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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UK Exposed to Significant Trade-based Money Laundering Risks Post-Brexit
Risks related to trade-based money laundering in the UK are expected in the upcoming years, accor...
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Binance Pulls Out its Rival Exchange Huobi from Money Laundering Attempt
Binance helped its rival crypto exchange, Huobi Global, recover the amount taken in a bridge expl...
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Gambling Commission Fines Entain £17m for Social Responsibility & Anti-Money Laundering Failures
Ladbrokes owner Entain has been fined £17m by the Gambling Commission for social responsibility a...
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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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US DOJ Arrests Two in Alleged NFT Money Laundering, Rug Pull Scheme
The US Department of Justice has arrested two in a $1.1 million non-fungible token fraud and mone...
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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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Kenya Flags Betting Jackpots as Possible Avenues for Money Laundering
Kenya has flagged the mega jackpots paid to the punters in the country as the possible avenues fo...
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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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Southern District of New York Alleges Danske Bank against Serious AML Scandal
SDNY sentences Danske Bank with three years of probation on the tale of whistleblowing and mislea...
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Singapore Central Bank to Utilize AI Technology to Combat Money Laundering
The Monetary Authority Singapore (MAS) seeks to utilise AI technology to bolster the security of ...
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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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EGBA Introduces New Guidelines to Prevent Money Laundering in Gaming Industry
EGBA (European Gaming and Betting Association) has announced new guidelines to improve the anti-m...
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National Westminster Bank Pleads Guilty to AML Breaches
NatWest has stated that it violated multiple anti-money laundering regulations that required the ...
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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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Croatian Finance Ministry Proposes New Bill to Combat Money Laundering
The Croatian Finance Ministry has introduced a new bill for state institutions to monitor the ban...
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Reports Reveal NAB Contract Workers Received Little to No AML Training
The disclosure follows AUSTRAC’s recent launch of a formal investigation into NAB earlier this mo...
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Major US Twitter accounts hacked in Bitcoin scam
Billionaires Elon Musk, Jeff Bezos, Barack Obama, Joe Biden and Bill Gates are among the many US ...
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Former NFL Player Guilty of Identity Theft, COVID-19 Relief Fraud
Ex NFL player has been found guilty to one count of unauthorized access device fraud and one coun...
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Sam Bankman-Fried Charged with Fraud and Money Laundering, Makes Headlines Again
A federal indictment accusing FTX Co-Founder Sam Bankman-Fried of committing widespread fraud has...
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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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DISA is Working on a Digital Identity, Credential, and Access Management Tool
According to Nextgov reports, the Defense Information System Agency (DISA) in the US has announce...
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Nigeria: Senate Bans Establishment and Operations of Shell Banks
The Senate is banning the establishment and operations of shell banks in Nigeria as an attempt to...
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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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Estonia’s New AML/CFT Regulatory Regime Sparks 80% Downfall in Licensed Crypto Firms
Since May 2023, Estonia’s updated crypto AML/CFT regulations have resulted in an 80% reduction in...
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UK to Regulate Stablecoins & Mint its Own NFTs to Become Global Crypto Hub
The UK is reportedly planning to regulate stablecoins as a payment method and the Royal Mint is t...
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€18 Million of Illicit Cash Flows Undetected Across 25 EU States in Two Weeks
A major customs operation, BELENOS, by the French Customs authorities, has unveiled an illicit fl...
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The Netherlands To House an EU-based Anti-Money Laundering Agency in the Hague
The Netherlands is aiming to create a new anti-money laundering agency with the principles of the...
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Japan Calls for Disclosure of Major Company Shareholders
Japan’s Ministry of Justice will require firms to submit details of their major shareholders, als...
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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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Zipmex Crypto Trading Platform Suspends All Activities in Thailand
Zipmex cryptocurrency exchange firm withdrew all activities in Thailand until 31st January 2024 t...
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Italy Launches Money Laundering Investigations into Qatargate Associates
Italian prosecutors have launched a probe related to the EU parliament Qatargate affair as a new ...
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Peru’s Former and Current President under Investigation for Alleged Money Laundering
Peru’s former and current presidents are under investigation for alleged money laundering a...
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IAMAI To Set Up A Board To Ensure Voluntary Compliance With AML & KYC
New Delhi: On Tuesday, June 1st, the Internet and Mobile Association of India (IAMAI), announced ...
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MP Calls in For UK’s Defences in Opposition to “Dirty Money” Overrun
The cross-party group of MP declares UK defences in becoming the “jurisdiction of choice for dirt...
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“Crypto Should Be Regulated, Not Prohibited”, Says ECB Vice President
After his statement in May that declared cryptocurrencies as a risky investment, the Vice Preside...
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US Senator Challenges the Proposed Crypto Regulations of FinCEN & FATF
Pat Toomey, the US Senator, has requested Treasury Secretary Janet Yellen to “make significant re...
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Gambling Commission Fines Entain £17m for Social Responsibility & Anti-Money Laundering Failures
Ladbrokes owner Entain has been fined £17m by the Gambling Commission for social responsibility a...
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IMF Seeks Tighter Checks on Kenyan Banks Amid Money Laundering Concerns
The International Monetary Fund (IMF) is tightening the checks to prevent money laundering and wa...
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Over $700M Embezzled From Iraq’s Public Fundings – Anti Corruption Commission
The Iraq Anti-corruption commission has pointed out the illegal use of people’s funding fro...
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Crypto-Supporting Digital Cards to be Launched Soon in China and Korea
UnionPay, an analogue for Visa and Mastercard service providers, has partnered with Danal, a Kore...
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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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European Union to Propose Amendments in AML Package for Corporate Transparency
The European Parliament has proposed a series of amendments to the Anti Money Laundering (AML) pa...
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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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Cyprus Adopts Transparency in Registration of Company Owners
Cyprus has planned to introduce a register in the coming weeks to unveil the identity of thousand...
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West Midlands Lose Approximately £8 Million to Employee Fraud in 2022
Business advisors RSM UK has revealed West Midlands as a hotspot for employee fraud. The region h...
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New Zealand Forces Banks To Strengthen Their Security Measures
New Zealand’s parliamentary committee has urged banks and financial institutes to bolster their s...
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AUD 10 Billion Money Laundering Ring Caught in Australia, Further Highlighting the Country’s AML Failures
AUD 10 billion ($6.5 billion) in global money laundering was allegedly uncovered in Sydney by the...
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Singapore Introduces Face Verification for National ID Service
Not just authentication, but facial verification is mandatory for anyone who is using the nationa...
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