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

    ca

    51.222.253.17

    UK’s National Crime Agency Builds a Specialised Crypto Investigation Team

    The United Kingdom’s National Crime Agency (NCA) is planning to establish a professional team to investigate crypto scams and design strict regulations to secure the virtual asset industry against financial crimes, such as money laundering and terrorist financing.

    The United Kingdom law enforcement agency, NCA, seeks to hire 6 crypto investigators for their new project and create a specialised digital assets team. The crypto experts assist the NCA in preventing virtual assets from financial crimes. Crypto investigators will also support in designing new and existing AML rules, and they can lead the team in identifying the scammers. According to NCA, “the role will be dedicated to a proactive cryptocurrency remit with the right tools and capabilities to target UK-based subjects along with supporting colleagues with specialist advice and guidance.”  The candidate should have in-depth knowledge of crypto and trading platforms and how they work, including being able to conduct advanced tracing on blockchains. 

    The creation of a specialised team to investigate crypto scams signal the ongoing creation of the rigid AML framework to secure the integrity of the global financial system. It will assist United Kingdom authorities to align the crypto industry with international standards and prevent virtual asset service providers from committing severe financial crimes. The United Kingdom Treasury Office established its regulatory strategy for the cryptocurrency market on October 30th, putting fiat-backed stablecoins under the close scrutiny of financial regulators and establishing a framework for other crypto-related activities.

    The basic salary NCA issued for this role falls between $51,377 to $55,670; serval crypto community members declined that offer and stated the amount is too low. Most members claim that the pay for this role is insufficient to keep the investigator away from planning a rogue. Crypto investor, AlgisLoran, stated on Twitter, “The guys will quickly investigate ways to make more money in crypto for themselves and will get the know-how of how to avoid being investigated by their colleagues.” 

    Before that, a bill empowering law enforcement to seize virtual assets connected to illegal acts, including money laundering, fraud, and ransomware attacks, was adopted by the United Kingdom Parliament. Additionally, the Financial Conduct Authority (FCA) also issued regulations to force financial institutes to conduct risk assessments before onboarding the companies whilst ordering crypto investment platforms to warn investors about the potential risk of losing their assets. 

    Suggested Reads: 

    UK AMENDS CORPORATE ACT TO COMBAT ECONOMIC CRIMES

    UK APPROVES NEW BILL TO ENHANCE SECURITY IN THE CRYPTOCURRENCY SECTOR

    UK CUSTOMERS LOSSE £580M TO IDENTITY SCAMMERS IN FIRST HALF OF 2023

    Related Posts

    News

    “We Reaffirm Our Full Support for FATF’s Efforts Against Financial Crime” – G20 Leaders

    According to the Rome Declaration, G-20 leaders ensure full support to back FATF recommendations ...

    “We Reaffirm Our Full Support for FATF’s Efforts Against Financial Crime” – G20 Leaders Explore More

    News

    US Cybersecurity Head Fired by Trump for Discrediting the Voter Fraud.

    Trump has fired the head of cybersecurity, Christopher Kerbs, for beinhg unloyal to the claims of...

    US Cybersecurity Head Fired by Trump for Discrediting the Voter Fraud. Explore More

    News

    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...

    Binance Pulls Out its Rival Exchange Huobi from Money Laundering Attempt Explore More

    News

    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, ...

    FBI Reveals North Korea’s Lazarus Group Involvement in $41 Million Stake Hack Explore More

    News

    Swedbank Fined And Remains Under Investigation by US Authorities

    As Danske Bank awaits judgment by US regulators for being involved in Europe’s largest-ever money...

    Swedbank Fined And Remains Under Investigation by US Authorities Explore More

    News

    Standard Chartered Is Fined $13.6 Million by India’s AML agency

    Standard Chartered Bank is fined $13.6 million by India’s anti-money laundering agency for 2007 d...

    Standard Chartered Is Fined $13.6 Million by India’s AML agency Explore More

    News

    AUSTRAC Sues Star Casino for Alleged Anti-Money Laundering Breaches

    AUSTRAC has sued Star casino group with more civil penalties for doing business with ‘high-risk c...

    AUSTRAC Sues Star Casino for Alleged Anti-Money Laundering Breaches Explore More

    News

    US Targets More Russian Yachts Linked to Putin as Part of Extended Sanctions

    The Treasury Department has expanded its Russian sanctions to target Moscow’s access to yachts as...

    US Targets More Russian Yachts Linked to Putin as Part of Extended Sanctions Explore More

    News

    FIAU Fines Maltese Investment Fund €300,000 for ‘disregard’ of AML Rules

    The FIAU said that Southern Cross Sicav showed ‘disregard’ for its anti-money laundering obligati...

    FIAU Fines Maltese Investment Fund €300,000 for ‘disregard’ of AML Rules Explore More

    News

    South Africa Anticipates Removal from FATF Gray List in 2025

    The South African government is anticipating that they will address all the FATF international st...

    South Africa Anticipates Removal from FATF Gray List in 2025 Explore More

    News

    FinCEN Proposes the Designation of Eligible Customers as Exempt Person

    As a part of the Paperwork Reduction Act of 1995, the Financial Crime Enforcement Network (FinCEN...

    FinCEN Proposes the Designation of Eligible Customers as Exempt Person Explore More

    News

    IRS And Foreign Tax Enforcers Warn of Increasing Money Laundering Risks in NFTs

    The IRS and foreign tax enforcers have issued a warning of the increasing risks of money launderi...

    IRS And Foreign Tax Enforcers Warn of Increasing Money Laundering Risks in NFTs Explore More

    News

    FCA Fines ADM Investors for Violating Anti-Money Laundering Regulations

    The UK regulatory department Financial Conduct Authority (FCA) fined $7.9 million to the commodit...

    FCA Fines ADM Investors for Violating Anti-Money Laundering Regulations Explore More

    News

    UAE Firms Must Disclose UBO’s to Avoid Dirty Money Watch List

    500,000+ firms in the UAE (United Arab Emirates) face disclosure of their Ultimate Beneficial Own...

    UAE Firms Must Disclose UBO’s to Avoid Dirty Money Watch List Explore More

    News

    Pandemic Fraud Crackdown: US Bank Employees Indicted Over Document Fraud

    Bank employees and tax preparers fraudulently applied for $3M+ in pandemic relief loans through f...

    Pandemic Fraud Crackdown: US Bank Employees Indicted Over Document Fraud Explore More

    News

    US Task Force Seizes Another Superyacht in the Battle Against Russian Oligarchs’ Corruption

    A new US task force has partnered with the IRS and global entities to take down Russian oligarchs...

    US Task Force Seizes Another Superyacht in the Battle Against Russian Oligarchs’ Corruption Explore More

    News

    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...

    Police busted a massive £215m money laundering ring in the Northern Ireland Explore More

    News

    Satabank Penalized with €851,000 for Non-Compliance

    Financial Intelligence Analysis Unit (FIAU) on Statabank has decided to fine the bank the sum of ...

    Satabank Penalized with €851,000 for Non-Compliance Explore More

    News

    Japan Launches a Three-Step Plan for Introducing Digital Yen

    After the announcement of the Bank of Japan to introduce digital Yen by 2021, the statement by Ko...

    Japan Launches a Three-Step Plan for Introducing Digital Yen Explore More

    News

    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...

    FMA Blacklists Krypto Security, Bay Exchange, and CTRL Investments Limited Explore More

    News

    EU Proposes New AML Agency For Addressing Money Laundering

    The EU document has been proposed to introduce tough action against money laundering in the regio...

    EU Proposes New AML Agency For Addressing Money Laundering Explore More

    News

    FATF Publishes Two New Updates on Global ML/TF Risks

    FATF, the international group that makes global Anti-Money Laundering and Countering Terrorism Fi...

    FATF Publishes Two New Updates on Global ML/TF Risks Explore More

    News

    Financial Regulators in Uganda Demands Government to Set Crypto Regulations

    Uganda’s financia regulators, Financial Intelligence Authority (FIA), want the government to take...

    Financial Regulators in Uganda Demands Government to Set Crypto Regulations Explore More

    News

    Beware: Vaccine-phishing scams have risen by 500 percent

    Vaccine-phishing scams have increased by 530 per cent, as stated by a new study by Unit 42, the P...

    Beware: Vaccine-phishing scams have risen by 500 percent Explore More

    News

    UAE Deploys Hi-Tech Measures to Combat Money Laundering

    The UAE has intensified its measures in the fight against money laundering and terrorism financin...

    UAE Deploys Hi-Tech Measures to Combat Money Laundering Explore More

    News

    Poloniex Agrees to Pay $7.6M in Settlement of Sanctions Violations

    In a settlement with the Office of Foreign Asset Control (OFAC), Poloniex LLC, a former subsidiar...

    Poloniex Agrees to Pay $7.6M in Settlement of Sanctions Violations Explore More

    News

    Hong Kong Police Seizes $65 Million From Triad Controlled Money Laundering Ring

     Hong Kong police detained 458 people and seized $65 million in connection with an extensive crim...

    Hong Kong Police Seizes $65 Million From Triad Controlled Money Laundering Ring Explore More

    News

    Qatar’s new AML laws leave no room for Cryptocurrencies

    A number of countries across the globe are coming with up stringent policies to inhibit the illeg...

    Qatar’s new AML laws leave no room for Cryptocurrencies Explore More

    News

    Coinbase Attorney Urges SEC to Announce Crypto Rules

    Coinbase’s attorney forced the Securities and Exchange Commission (SEC) to announce a trans...

    Coinbase Attorney Urges SEC to Announce Crypto Rules Explore More

    News

    Taiwan and Singapore Strengthen AML Regulations for Virtual Asset Providers and Banks

    Taiwan and Singapore enhance Anti-Money Laundering (AML) regulations for virtual asset service pr...

    Taiwan and Singapore Strengthen AML Regulations for Virtual Asset Providers and Banks Explore More

    News

    AMLA Adds New Protections and Financial Incentives for US Whistleblowers

    Anti Money Laundering Act 2020, has amended the recently enacted AML whistleblower improvement ac...

    AMLA Adds New Protections and Financial Incentives for US Whistleblowers Explore More

    News

    Senate Reveals a 12-Year-Old Loophole Targeted by Americans to Cheat IRS

    Offshore tax loopholes are safe havens for wealthy Americans to cheat the Internal Revenue Servic...

    Senate Reveals a 12-Year-Old Loophole Targeted by Americans to Cheat IRS Explore More

    News

    FCA Declares £147m Fine on Credit Suisse for Due Diligence Failings

    Credit Suisse was fined £147,190,200 for breaching FCA’s Principle 2 and 3 for Businesses as it f...

    FCA Declares £147m Fine on Credit Suisse for Due Diligence Failings Explore More

    News

    Owner of RGCoins Rosen Iossifov Guilty of Crypto Money Laundering

    Iossifov was accused of two conspiracy counts; racketeering and money laundering. After a two-wee...

    Owner of RGCoins Rosen Iossifov Guilty of Crypto Money Laundering Explore More

    News

    Over £1 Million Lost to Covid Business Support Fraud in Leeds

    Leeds City Council papers have shown 74 cases of Covid business support fraud where more than £1 ...

    Over £1 Million Lost to Covid Business Support Fraud in Leeds Explore More

    News

    Revised Financial Regulations in South Korea Now Covers Crypto Investors

    The financial regulators in South Korea announced that domestic crypto investors would be covered...

    Revised Financial Regulations in South Korea Now Covers Crypto Investors Explore More

    News

    Ramon Abbas, Nigerian Instagram Influencer Pleads Guilty to Million-dollar Fraud

    Nigerian instagram influencer, Ramon Abbas (Hushpuppi), admitted that he was involved in a conspi...

    Ramon Abbas, Nigerian Instagram Influencer Pleads Guilty to Million-dollar Fraud Explore More

    News

    Interpol Launches New Center to Combat Financial Crime

    Interpol has launched a Financial Crime and Anti-Corruption Center (IFCACC) as part of efforts to...

    Interpol Launches New Center to Combat Financial Crime Explore More

    News

    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...

    Australian Federal Police Issues Warning on Valentine’s Day Financial Scams Explore More

    News

    India to Impose $2.65M Fine and Jail for Violating Cryptocurrency Bill

    India’s financial watchdog has proposed a new crypto bill to impose a $2.65M fine and jail for vi...

    India to Impose $2.65M Fine and Jail for Violating Cryptocurrency Bill Explore More

    News

    Australian Defense Department Hit by Ransomware Attack

    Australian Defence Department has been hit by a ransomware attack. No information about former or...

    Australian Defense Department Hit by Ransomware Attack Explore More

    News

    FIU Recovers $284K From Two Companies Suspected of Money Laundering and Tax Evasion

    The Financial Intelligence Unit of Liberia (FIUL) has recovered more than $284,000 from two compa...

    FIU Recovers $284K From Two Companies Suspected of Money Laundering and Tax Evasion Explore More

    News

    Qatar Takes Steps to Strengthen its AML/CFT and Sanctions Compliance

    A webinar organised by ICC Qatar emphasised the efforts of Qatar to strengthen its AML/CFT and sa...

    Qatar Takes Steps to Strengthen its AML/CFT and Sanctions Compliance Explore More

    News

    Gibraltar financial watchdog issues warnings for four crypto sites

    The Gibraltar Financial Services Commission, or GFSC, on June 5th, issued four public warnings to...

    Gibraltar financial watchdog issues warnings for four crypto sites Explore More

    News

    Shufti introduces react native app for customer convenience

    Recently, Shufti launched its react native app for enhanced customer convenience. Shufti ...

    Shufti introduces react native app for customer convenience Explore More

    News

    FBI Warns of Tech Support Scammers Compromising Financial Accounts

    The Boston Division of the Federal Bureau of Investigation (FBI) has warned of an increase in num...

    FBI Warns of Tech Support Scammers Compromising Financial Accounts 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

    FinCEN Pinpoints Bitzlato as “Primary Money Laundering Concern”

    FinCEN recognises Bitzlato Limited, a Hong-kong based virtual crypto exchange network, as a prima...

    FinCEN Pinpoints Bitzlato as “Primary Money Laundering Concern” Explore More

    News

    Albanian Financial Supervision Authority Approves Crypto Licensing Regime

    Albanian Financial Supervision Authority has approved a licensing regime for crypto exchanges for...

    Albanian Financial Supervision Authority Approves Crypto Licensing Regime Explore More

    News

    Japan’s regulator verifies 2 new digital currency alliances

    Financial regulators in Japan have approved two organizations to act as digital currency associat...

    Japan’s regulator verifies 2 new digital currency alliances Explore More

    News

    Belgian Banks to Establish a Platform to Reveal Anti-Money Laundering data

    Belgium’s one of the leading bank chain has now suggested developing a platform that will allow p...

    Belgian Banks to Establish a Platform to Reveal Anti-Money Laundering data Explore More

    News

    Mongolia Stays Committed to the Fight Against Money Laundering

    Mongolia is the first Asia-Pacific and fifth global nation to implement all 40 FATF recommendatio...

    Mongolia Stays Committed to the Fight Against Money Laundering Explore More

    News

    Mass Stablecoin Adoption Could Assist Financial Crime – Says FATF

    FATF suggests nations and financial service providers should identify potential risks of cryptocu...

    Mass Stablecoin Adoption Could Assist Financial Crime – Says FATF Explore More

    News

    MAS Imposed a Fine of $375,000 on UOB Kay Hian For Business Conduct Compliance Failures

    The Monetary Authority of Singapore (MAS) imposed a fine of S$375,000 on UOB Kay Hian, a brokerag...

    MAS Imposed a Fine of $375,000 on UOB Kay Hian For Business Conduct Compliance Failures Explore More

    News

    Ireland Mandates Registration of Crypto Firms Under AML Laws

    Ireland has taken new measures to regulate crypto businesses under the AML law for the first time...

    Ireland Mandates Registration of Crypto Firms Under AML Laws Explore More

    News

    AML Council Warns Financial Institutions to Strengthen Systems for Effective Money Laundering Prevention

    Banks and financial institutions should implement a strengthened anti-money laundering system to ...

    AML Council Warns Financial Institutions to Strengthen Systems for Effective Money Laundering Prevention Explore More

    News

    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 ...

    Capital One Penalized $390M for ‘Willful’ Violation of the Bank Secrecy Act Explore More

    News

    Singapore Scammers Launder Money Through Online Gambling

    Singapore police seized US $736 million worth of cryptocurrencies and virtual assets from money l...

    Singapore Scammers Launder Money Through Online Gambling Explore More

    News

    E-krona – Rising Cashless Sweden Sights Virtual Currency

    Less than 10% of all transactions are done with cash in Sweden, according to an analysis by its c...

    E-krona – Rising Cashless Sweden Sights Virtual Currency Explore More

    News

    Swiss Regulator FINMA Issues DLT Act for Digital Securities Market

    The Financial Market Supervisory Authority (FINMA) introduced regulatory amendments for digital s...

    Swiss Regulator FINMA Issues DLT Act for Digital Securities Market Explore More

    News

    Bank of England Introduces New Regulatory Approach for Crypto

    The Bank of England is formulating the UK’s first regulatory framework for crypto assets and stat...

    Bank of England Introduces New Regulatory Approach for Crypto Explore More

    News

    UAE and Egypt Collaborate to Fight Money Laundering and Terrorist Financing

    UAE has signed MoU with Egyptian Money Laundering and Terrorist Financing Combating Unit to stren...

    UAE and Egypt Collaborate to Fight Money Laundering and Terrorist Financing Explore More

    News

    FATF Publishes 35 New Indicators Against Trade-based Money Laundering

    Financial Action Task Force (FATF) and Egmont group has published a new report on risk-indicators...

    FATF Publishes 35 New Indicators Against Trade-based Money Laundering Explore More

    News

    FATF Removes Malta From gray List of Untrustworthy Financial Jurisdictions

    After one year of being included in the FATF grey list, the global action committee has voted Mal...

    FATF Removes Malta From gray List of Untrustworthy Financial Jurisdictions Explore More

    News

    SFC Finalizes Consultation Conclusions on AML Guidelines

    Updated AML/CFT guidelines are expected to come into effect from 30 September 2021, except for th...

    SFC Finalizes Consultation Conclusions on AML Guidelines Explore More

    News

    UK Publishes First National Risk Assessment of Proliferation Financing

    The UK is at a high risk of proliferation financing for Korea and Iran, while UK financial instit...

    UK Publishes First National Risk Assessment of Proliferation Financing Explore More

    News

    Ramon Abbas, Nigerian Instagram Influencer Pleads Guilty to Million-dollar Fraud

    Nigerian instagram influencer, Ramon Abbas (Hushpuppi), admitted that he was involved in a conspi...

    Ramon Abbas, Nigerian Instagram Influencer Pleads Guilty to Million-dollar Fraud Explore More

    News

    South Africa Issues Stricter Guidelines for Crypto Traders

    To prevent the surging cases of financial crime, South Africa has introduced rigid regulations fo...

    South Africa Issues Stricter Guidelines for Crypto Traders Explore More

    News

    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...

    US DOJ Arrests Two in Alleged NFT Money Laundering, Rug Pull Scheme Explore More

    News

    Money Laundering and Drug Trafficking Account for Illicit Flow of US$ 1 Billion into Jamaica Annually

    Reports have highlighted that money laundering, drug trafficking, and cybercrimes account for the...

    Money Laundering and Drug Trafficking Account for Illicit Flow of US$ 1 Billion into Jamaica Annually Explore More

    News

    Japan Considers Facial Recognition to Trace Contact at Large Scale Events

    According to the Japan Times report, the country is planning to introduce facial recognition at l...

    Japan Considers Facial Recognition to Trace Contact at Large Scale Events Explore More

    News

    Phillippines Added to FATF Gray List Again for Inadequate AML Casino Measures

    The Philippine financial system did not comply with international Financial Action Task Force (FA...

    Phillippines Added to FATF Gray List Again for Inadequate AML Casino Measures 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