The Top 10  Most Difficult Countries for Identity Verification

The Top 10  Most Difficult Countries for Identity Verification

Download Report

    n-img-roi-cross

    Before You Go, Schedule Your Free Demo Today

    Valid Invalid number


    Note: Fields marked with an asterisk(*) are mandatory.

    n-exit-img-roi-cross

    Thank you for your demo request

    We appreciate your interest and look forward to discussing how our solution can meet your needs. Expect to hear from us shortly with scheduling details.

    Close

    us

    216.73.216.68

    UK Gambling Commission Charges Kindred Brand $8.7M over AML Shortcomings

    n-img-uk

    The UK Gambling Commission has charged the Kindred Group with a hefty £4.19-million (US$5.15 million) fine for its site management practices.

    The UKGC’s latest report reveals breaches that drove Kindred 32 Red Limited to fork out £4.19 million (US $5.15 million) due to a large fine. Platinum Gaming, UK’s Unibet operator, was also found guilty and was charged with a fine of £2.93 million (US$3.6 million).

    According to the UKGC, “32Red allegedly allowed extended gaming sessions that should have indicated the possibility of potential gambling harm. The company didn’t intervene as it should have. Instead, it relied heavily on customer trust, while management failed to recognize and safeguard users’ interests. In one example, a user deposited £43,000 (US$52,933) and lost £36,000 (US$44,316) in just a week.”

    The UKGC typically uses social responsibility and anti-money laundering as blanket topics that lead to fines and settlements. The gambling regulator has frequently accused operators of not fulfilling the requirements of user reviews and failing to conduct CDD on spending habits. The regulator added that 32Red failed to properly enforce protocols that highlight the risks of terrorist funding and money laundering, this negligence can cause criminal activity. 

    The UKGC stated that “Unibet’s protocols for identifying duplicate accounts and assisting affected customers were inadequate. They found that the efficacy of the brand’s operational standards, processes, and checks wasn’t endorsed, nor were they regularly assessed for suitability.”

    The regulator also discovered another issue in source funds management. They identified that one customer’s account should have been blocked from receiving deposits as per the company’s policy, but it remained open after the deadline to request information. As a result, the customer could access their fund and continued to play for over two additional weeks. He lost £8,321 (US$10,243) after betting £16,280 (US$20,048). 

    The UKGC’s newest mandate is under effect and it is the third enforcement action in 2023, following a banner year of collected fines. Since the start of this year, the regulator has imposed fines and settlements collectively worth over $15 million. 

    On all the statements from the regulator Kindred promised to clean up and conceded to all fines.. It added that it has already started the process of hiring new staff for compliance and risk teams. The CEO of Kindred, Henrik Tjärnström stated, “Our commitment to reducing gambling harm across our platforms is a key part of our journey towards zero ambition – and we are redoubling our efforts to ensure we continue that progress.”

    Suggested Read:

    UK TO MANDATE THE DECLARATION OF CRYPTO HOLDINGS IN SELF-ASSESSMENT TAX RETURN FORMS

    Related Posts

    News

    Four Biggest Irish Banks Join Forces for Enhanced Security Measures

    Four biggest banks in Ireland, AIB, Bank of Ireland, PTSB, and KBC, have collaborated on the meas...

    Four Biggest Irish Banks Join Forces for Enhanced Security Measures Explore More

    News

    FATF Finalizes Key Working Areas in its Fifth Plenary Meeting

    FATF’s fifth plenary meeting consisting of 206 members of the Global Network and Observer organiz...

    FATF Finalizes Key Working Areas in its Fifth Plenary Meeting Explore More

    News

    South Korea’s Telecom Giant to Introduce Blockchain Wallets for Official Documents

    SK Telecom, a South Korean telecom giant, has announced its first e-wallet for digitally storing ...

    South Korea’s Telecom Giant to Introduce Blockchain Wallets for Official Documents Explore More

    News

    UK Authorities Accuse Attorneys of Failure in Combating Financial Crimes

    The UK regulatory authorities asserted that new data revealed prosecutors inadequately comply wit...

    UK Authorities Accuse Attorneys of Failure in Combating Financial Crimes Explore More

    News

    AML Task Force Samlit Reports Success in Keeping Fraudsters at Bay

    SA Anti-Money Laundering Integrated Task Force (Samlit) claims that it is competent in combating ...

    AML Task Force Samlit Reports Success in Keeping Fraudsters at Bay Explore More

    News

    Japan: FSA Sets a Firm Deadline For FI to Ensure Full AML/CFT Compliance

    Japan’s Financial Services Agency (FSA) has strictly directed financial institutions to devise a ...

    Japan: FSA Sets a Firm Deadline For FI to Ensure Full AML/CFT Compliance Explore More

    News

    Melbourne Casino Crown Faces New Money Laundering Scandal

    Crown’s licence for its Sydney casino has been suspended after an investigation revealed it facil...

    Melbourne Casino Crown Faces New Money Laundering Scandal Explore More

    News

    USD 10.4 Billion Paid by Financial Groups in 2020 in Regulatory Fines

    Know Your Customer and Anti-money Laundering non-compliance penalties rose 26% this year. Many pr...

    USD 10.4 Billion Paid by Financial Groups in 2020 in Regulatory Fines Explore More

    News

    Shufti is nominated for ‘Oustanding Product/ Service’

    Global business excellence awards nominated Shufti for the category of outstanding product/ s...

    Shufti is nominated for ‘Oustanding Product/ Service’ Explore More

    News

    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...

    Central Bank of UAE Issues Updated Guidance For Licensed Financial Institutions Explore More

    News

    FATF encourages Digital ID during Coronavirus epidemic

    The Financial Action Task Force (FAFT) is advocating the use of digital identity technology to se...

    FATF encourages Digital ID during Coronavirus epidemic Explore More

    News

    Pakistan’s State Bank unveils new AML/CFT regulations for Forex Firms

    State Bank of Pakistan on Tuesday amended Anti-money laundering (AML) and Counter Financing of te...

    Pakistan’s State Bank unveils new AML/CFT regulations for Forex Firms Explore More

    News

    FCA Cracks Down on Various Operators Hosting Illegal Crypto Cash Machines Around Leed

    The FCA (Financial Conduct Authority) suspects many sites around Leeds of hosting illegally opera...

    FCA Cracks Down on Various Operators Hosting Illegal Crypto Cash Machines Around Leed Explore More

    News

    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...

    Research for Implications of CBDC on the Rise in Australia Explore More

    News

    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...

    Bipartisan Senators Propose Amendment of the National Defense Authorization Act to Prevent Crypto Money Laundering Explore More

    News

    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...

    EDD Fraud Scandal in California – 87 Suspects Arrested Explore More

    News

    Expanding Fraud in Digital Space—Florida’s Government Raises Awareness

    The Florida Department of Agriculture and Consumer Services issued a newsletter to alert people r...

    Expanding Fraud in Digital Space—Florida’s Government Raises Awareness Explore More

    News

    Singapore Introduces Face Verification for National ID Service

    Not just authentication, but facial verification is mandatory for anyone who is using the nationa...

    Singapore Introduces Face Verification for National ID Service Explore More

    News

    Crypto Providers at Risk of Money Laundering & Terror Financing, Says FMA

    The Crypto industry was rated high-risk in the latest sector risk assessment (SRA) of the FMA, wh...

    Crypto Providers at Risk of Money Laundering & Terror Financing, Says FMA Explore More

    News

    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 ...

    Lithuanian Government Approves Amendment to Strengthen Digital Currency Regulations Explore More

    News

    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...

    UAE Adopts Facial Recognition for ID Verification Instead of Emirates ID Card Readers Explore More

    News

    The UK’s Joint Money Laundering Steering Group Amends Crypto Asset Travel Rule

    The UK’s Joint Money Laundering Steering Group (JMLSG) amended the Money laundering and Terrorist...

    The UK’s Joint Money Laundering Steering Group Amends Crypto Asset Travel Rule Explore More

    News

    New Crypto Regulations to be Followed by Korean Banks

    South Korea is increasing cryptocurrency regulations by making KYC verification necessary along w...

    New Crypto Regulations to be Followed by Korean Banks Explore More

    News

    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...

    FBI Seizes $1.7M During 3-Month Crypto Operation Explore More

    News

    Ireland Campaigns to make Dublin the EU AML Authority Headquarter

    A team was established in the Department of Finance by the Irish government to campaign for Dubli...

    Ireland Campaigns to make Dublin the EU AML Authority Headquarter Explore More

    News

    RBI to Strengthen KYC Guidelines for the Crypto Industry

    IndiaTech has suggested enhancing the KYC guidelines and obligating the cryptocurrency industry t...

    RBI to Strengthen KYC Guidelines for the Crypto Industry Explore More

    News

    Google plans to conduct identity verification of advertisers

    Google stated in a blog post on Thursday that it will soon require all advertisers to verify thei...

    Google plans to conduct identity verification of advertisers Explore More

    News

    Investment Bank Fined by FCA for Failing with Due Diligence Requirements

    An Investment Bank in London, Sapien Captial, has been penalised by the financial regulator, Fina...

    Investment Bank Fined by FCA for Failing with Due Diligence Requirements Explore More

    News

    China’s digital yuan to be tested by 19 firms including McDonald’s and Starbucks

    Starbucks and McDonald’s are among 19 businesses that will test China’s new digital c...

    China’s digital yuan to be tested by 19 firms including McDonald’s and Starbucks Explore More

    News

    Dubai Sets up Special Court to Tackle Money Laundering

    The new court of law has been established to combat money laundering and related financial crimes...

    Dubai Sets up Special Court to Tackle Money Laundering Explore More

    News

    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...

    Hong Kong Authorities Warn Unregistered Virtual Assets Platforms May Face Large Fines and Imprisonment Explore More

    News

    Financial Watchdogs in South Korea Add Guidelines for Crypto Transactions

    Financial Watchdogs in South Korea will now oversee the activities regarding crypto in the countr...

    Financial Watchdogs in South Korea Add Guidelines for Crypto Transactions Explore More

    News

    Central Bank of Bahamas Calls for Stringent Due Diligence in the Wake of FTX Collapse

    The Bahamas’ Central Bank has called for stricter due diligence while moving funds in the w...

    Central Bank of Bahamas Calls for Stringent Due Diligence in the Wake of FTX Collapse Explore More

    News

    Council of Europe Shows Support to Serbian Authorities For Combating Money Laundering

    The Council of Europe stays dedicated to showing support to authorities for fighting money-launde...

    Council of Europe Shows Support to Serbian Authorities For Combating Money Laundering Explore More

    News

    Morocco’s Parliament Unanimously Approves the Bill to Amend AML Regulations

    The House of Representatives of Morocco has unanimously agreed to pass the bill to amend the anti...

    Morocco’s Parliament Unanimously Approves the Bill to Amend AML Regulations Explore More

    News

    Danish Gambling Operator Reports Tipwin to the Police for AML Failings

    Then danish gambling operator Spillemyndigheden has reported Tipwin to the police for violating t...

    Danish Gambling Operator Reports Tipwin to the Police for AML Failings Explore More

    News

    BSP Warns Banks Against Auto Loan Fraud

    According to BSP, organized crime groups are using fake identities to sell vehicles under fake li...

    BSP Warns Banks Against Auto Loan Fraud Explore More

    News

    Actor Behind $650M Ponzi Scheme Set to Face 20-Year Jail Time

    The actor was arrested on account of wire fraud, identity theft, securities fraud, and executing ...

    Actor Behind $650M Ponzi Scheme Set to Face 20-Year Jail Time Explore More

    News

    EU Suggests Blacklisting UAE Following “Dubai Uncovered” Leaks

    The EU has suggested blacklisting UAE under the “Dubai Uncovered” leaks depicting how sanctioned ...

    EU Suggests Blacklisting UAE Following “Dubai Uncovered” Leaks Explore More

    News

    £2 Million of Suspected Money Laundering Assets Seized by Royal Gibraltar Police

    Following information from a Spanish law enforcement agency, the Royal Gibraltar Police have init...

    £2 Million of Suspected Money Laundering Assets Seized by Royal Gibraltar Police Explore More

    News

    Global OCR market expected to reach $70 billion by 2030

    The global OCR market is expected to grow at the CAGR of 15% from 2020 to 2030, reaching USD 70 b...

    Global OCR market expected to reach $70 billion by 2030 Explore More

    News

    CBN, NFIU to Monitor Illicit Crypto Transactions in Centralized Exchanges

    The CBN and NFIU have been urged to track illicit transactions in cryptocurrency by engaging with...

    CBN, NFIU to Monitor Illicit Crypto Transactions in Centralized Exchanges Explore More

    News

    “Walk the Talk” – RUSI Calls On FATF to Promote Financial Inclusion

    RUSI has called out the FATF for not actively promoting financial inclusion as part of its primar...

    “Walk the Talk” – RUSI Calls On FATF to Promote Financial Inclusion Explore More

    News

    New White House Standards Strategy May Affect Crypto Industry KYC Regulations

    President Biden’s administration unveiled a national standards strategy on May 4, outlining eight...

    New White House Standards Strategy May Affect Crypto Industry KYC Regulations Explore More

    News

    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...

    WHO Warns about Online Job Scams during COVID-19 Pandemic Explore More

    News

    UK to Apply Digital Identity Verification Across Government Services

    Michael Gove, Cabinet Office Minister has written to Whitehall departments about obligating the u...

    UK to Apply Digital Identity Verification Across Government Services Explore More

    News

    Ransomware attacks three US universities

    A ransomware group has successfully stricken three universities within the week. They claim that ...

    Ransomware attacks three US universities Explore More

    News

    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...

    IRS Criminal Investigation Uncovers Approx. $10 Billion Worth of FinCrime Explore More

    News

    US Authorities Accuse Russian Oligarch of Money Laundering and Bank Fraud

    US authorities have accused Russian oligarch Viktor Vekselberg of conspiring to launder money and...

    US Authorities Accuse Russian Oligarch of Money Laundering and Bank Fraud Explore More

    News

    ABLV Asset Management Fined with €57,217 for AML/CFT Violations

    FCMC (Financial and Capital Market Commission) has enforced a fine of €57,217 on ABLV Asset Manag...

    ABLV Asset Management Fined with €57,217 for AML/CFT Violations Explore More

    News

    UK NCA Recovers $7.5 Million from Azerbaijani Laundromat Probe

    The UK’s NCA has recovered 5.6 million pounds ($7.5 million) from bank accounts in the country wh...

    UK NCA Recovers $7.5 Million from Azerbaijani Laundromat Probe Explore More

    News

    Business Registry and FIAU Join Hands to Get Malta Off FATF Grey List

    The Financial Intelligence Analysis Unit (FIAU) and Malta Business Registry (MBR) have signed an ...

    Business Registry and FIAU Join Hands to Get Malta Off FATF Grey List Explore More

    News

    China Raises Penalty, Broadens Scope of AML Laws

    The People’s Bank of China (PBOC) has published a revised draft for the country’s AML law which e...

    China Raises Penalty, Broadens Scope of AML Laws Explore More

    News

    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...

    After Targeting 30 People, the “Major Identity Theft Player” Got Arrested by MPD Explore More

    News

    FCA Hints Why only 15% of Crypto Firms Received Regulatory Approval

    The UK financial watchdog has approved only 41 registration applications of crypto firms out of 3...

    FCA Hints Why only 15% of Crypto Firms Received Regulatory Approval Explore More

    News

    California university pays a million-dollar crypto ransom

    As per reports, the University of California reportedly paid a huge ransom of $1.14 million in cr...

    California university pays a million-dollar crypto ransom Explore More

    News

    AML/KYC Non-compliance Penalties Drop by 40% in the Second Half of 2021

    KYC/AML non-compliance penalties have dropped by 40% in the second half of 2021. However, this do...

    AML/KYC Non-compliance Penalties Drop by 40% in the Second Half of 2021 Explore More

    News

    $6.1 Million Seized As US Treasury Sanctions Another Crypto Exchange

    The US Department of the Treasury has sanctioned Chatex crypto exchange “for facilitating financi...

    $6.1 Million Seized As US Treasury Sanctions Another Crypto Exchange Explore More

    News

    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...

    US Court Sentences Nigerian FinTech Executives for Money Laundering Worth $167 Million Explore More

    News

    UAE’s AML Body Adopts Regulatory Framework for Virtual Assets

    The new rule for virtual assets has been devised in accordance with the crypto travel rule issued...

    UAE’s AML Body Adopts Regulatory Framework for Virtual Assets Explore More

    News

    “Real Estate Is Critical To Money Laundering”, Says BSP

    The Governor of BSP bank emphasized the urgent need for brokers to guard real estate against mone...

    “Real Estate Is Critical To Money Laundering”, Says BSP Explore More

    News

    FATF puts South Africa and Nigeria on Anti Money Laundering Gray list

    The global financial watchdog puts Africa’s two biggest economies on Anti-money laundering grey l...

    FATF puts South Africa and Nigeria on Anti Money Laundering Gray list Explore More

    News

    $8 Million Worth of Crypto Stolen From BitKeep Wallets

    Cryptocurrencies worth $8 Million, including Binance Coin, Tether, Dai, and Ether, were stolen fr...

    $8 Million Worth of Crypto Stolen From BitKeep Wallets Explore More

    News

    Credit Suisse Held Accountable for Money Laundering in Swiss Cocaine Cash Case

    Credit Suisse was declared guilty by the Swiss Federal Criminal Court of deficient measures again...

    Credit Suisse Held Accountable for Money Laundering in Swiss Cocaine Cash Case Explore More

    News

    Real Estate Money Laundering Rises, KCB Dragged to Court for AML Breach

    Real Estate development and construction company Tirupati Development Limited has dragged KCB Ban...

    Real Estate Money Laundering Rises, KCB Dragged to Court for AML Breach Explore More

    News

    B.C. Real Estate Company Fined $230K for Multiple AML Violations

    Nu Stream Realty Inc. has been fined $230,423 for failure to comply with federal Anti-Money Laund...

    B.C. Real Estate Company Fined $230K for Multiple AML Violations Explore More

    News

    US Justice Department Helps Brazilian Government to Seize $24 Million in Crypto Fraud

    An official request from the Brazilian government was made to the US government for helping to se...

    US Justice Department Helps Brazilian Government to Seize $24 Million in Crypto Fraud Explore More

    News

    The Czech Republic Government Amends Beneficial Ownership Law to Meet AML Obligations

    The Czech Republic government revised Beneficial Ownership Law upon the European Commission’...

    The Czech Republic Government  Amends  Beneficial Ownership Law to Meet AML Obligations Explore More

    News

    Malta Faces 200% Spike in Money Laundering Cases

    Financial Intelligence Analysis Unit (FIAU), Malta’s financial regulator, received a 200% increas...

    Malta Faces 200% Spike in Money Laundering Cases Explore More

    News

    UK Approves New Age Verification Laws to Protect Children

    The UK government approved the “Online Safety Bill,” which contains measures to protect children ...

    UK Approves New Age Verification Laws to Protect Children Explore More

    News

    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...

    CSSF Imposed a €226,000 Fine on Maitland Over AML Compliance Failure Explore More

    News

    KYC/AML and Sanctions fines reach $5.6 billion mid-year for global financial institutions

    The leading provider of digital transformation and client lifecycle management (CLM) solution, Fe...

    KYC/AML and Sanctions fines reach $5.6 billion mid-year for global financial institutions Explore More

    Take the next steps to better security.

    Contact us

    Get in touch with our experts. We'll help you find the perfect solution for your compliance and security needs.

    Contact us

    Request demo

    Get free access to our platform and try our products today.

    Get started