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Malta-based Pilatus Bank Fined €5m Over AML & Terrorism Breaches
Pilatus Bank failed on various accounts, including identity verification of customer businesses, ...
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UK to Mandate the Declaration of Crypto Holdings in Self-Assessment Tax Return Forms
The UK government is looking to mandate the declaration of crypto holding in Self Assessment tax ...
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Coronavirus affects challenger banks as app downloads decline
According to Finbold, top challenger banks in the United Kingdom have noticed a sudden decline in...
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EU Limits Use of Cash and Cryptocurrency to Curb Financial Fraud
The European Union (EU) has issued new measures to limit use of cash and cryptocurrencies to tack...
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Leaked Draft: EU Plans to Ban Privacy Enhancing Crypto Coins
CoinDesk has received a leaked draft of the money laundering bill, disclosing plans of the Europe...
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Anti-Money Laundering Rules Hit Backpacker Bank Accounts
Working holiday visa holders have been reported to have difficulty obtaining bank accounts due to...
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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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Kuwait’s Ministry of Social Affairs to Amend the Executive Law to Fight Money Laundering and Terrorism
Kuwait’s Ministry of Social Affairs is currently reviewing a proposal to amend the executive regu...
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EU Removes Iraq From List of High-Risk Money Laundering Countries
Iraq has been de-listed from the EU’s list of high-risk countries for money laundering and terror...
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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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Paraguay- Brazilian Bank Fined Heavily for Anti-money Laundering Non-compliance.
A major Brazilian Bank in Paraguayan has been sanctioned by the Paraguayan government. Latin Amer...
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ACRA to Impose Stricter Rules to Combat Money Laundering & Terrorist Financing
ACRA has proposed stricter rules for professionals and firms that assist businesses with corporat...
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Ransomware Targets Outdated Microsoft Excel Macros to Deploy Attacks
Microsoft Security Intelligence notified users of a type of ransomware, called Avaddon, that uses...
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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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ASIC Expands its Team to Enhance Cryptocurrency Regulations
Australia’s financial regulator has enhanced the size of its crypto team. The crypto regula...
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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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Korea FSC Confirms Plans for Crypto-focused Bureau at KoFIU
According to the FSC, the crypto-focused bureau will improve the transparency in virtual asset tr...
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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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Ontario’s Casinos Need to Strengthen Efforts to Curb Money Laundering
According to Auditor General Bonnie Lysyk, Ontario’s casinos need to strengthen efforts in order ...
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The FATF Gives The Philippines 2-3 Months to Address Remaining Deficiencies
Chuchi G. Fonacier, Deputy Governor of the BSP, said 4 of the 8 remaining Financial Action Task F...
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Massive Cyberattack on Australia Uses Cryptojacking Exploits
According to the Australian Cyber Security Centre, a group of “state actors” hacked Australian ne...
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AMLC Proposing Strict Monitoring Measures for FX Trading To Tackle Money Laundering
The AMLChas increased the monitoring process on FX declarations. All the inbound and outbound cha...
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UK to Set up CBDC Taskforce to Analyze the Possibility of ‘Britcoin’
The Bank of England along with the British Government plans to set up a task force to create digi...
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AUSTRAC Initiates Probe into Sportsbet and Bet365 over Money Laundering Suspicions
AUSTRAC launches investigations into gambling firms for suspicions of failing AML/CFT compliance,...
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Falklands and Gibraltar Still on Spanish ‘Tax Haven’ List, Says Report
The official Spanish Gazette published a list which consists of Falklands/Malvinas and Gibraltar ...
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EU Suggests Blacklisting UAE Following “Dubai Uncovered” Leaks
The EU has suggested blacklisting UAE under the “Dubai Uncovered” leaks depicting how sanctioned ...
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Kyrgyzstan to Regulate Cryptocurrency for it be Recognized Legally
Central Bank in Kyrgyzstan has given out recommendations for regulating the crypto industry and g...
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AAT Warns UK Businesses are Vulnerable to Money Laundering Threat After Reforming AML Regulations
The Association of Accounting Technicians (AAT) warned the UK government that reforming Anti-Mone...
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Coronavirus: UK economy recovering gradually, says Bank of England
Bank of England (BOE) governor, Andrew Bailey, stated that there are signs of the UK economy grad...
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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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Crime on the Rise, Mutual Fund Investments Need KYC
Know Your Customer (KYC) is to be implemented on all financial market-related investments. In ord...
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NY’s Attorney General Warns the Crypto Industry Against Illicit Activities
Letitia James, Newyork’s Attorney General, has sent a clear message to the entire crypto industry...
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The UAE Central Bank Revokes Dirham Exchange’s Licence for AML Misconduct
Dirham Exchange, an exchange house based in the UAE, has had its licence revoked by The UAE Centr...
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Nepal Approves Anti-Money Laundering Bill to Comply with International Standards
Nepal endorsed an anti-money laundering bill as the initial step to combat financial crime and en...
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Members of Spalding Club Charged for Money Laundering Through Investment Scheme
Lincolnshire police reported suspected fraud cases in connection with a trading-based investment ...
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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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EBRD and Central Bank of Jordan Raise Awareness Against Financial Crime
EBRD and the Central bank of Jordan join hands in running campaigns to raise awareness for the tr...
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New fake ad alert system launched to fight online scams
According to ITV, the UK Scam Ad Alert tool – developed by the Advertising Standards Authority (A...
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Low-orbit internet banking fraud claim supposed to be a bunch of space junk
A case of supposed low-orbit digital banking fraud has taken a turn, with the US Attorney’s...
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US Officials Visit Iraq to Lessen Currency Crisis, Says Central Bank Governor
Iraq’s currency may get uplifted after the meeting between the US top treasury officer and the he...
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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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Crypto Adoption on the Rise, PayPal will Offer Crypto Payments in 2021
In the digital era, companies are shifting toward digital means of communication. Banks have plan...
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MAS Ramps Up Efforts Against Financial Crimes With the Help of Data Analytics
Singapore’s central bank has revealed in a report on Wednesday that financial criminals will be p...
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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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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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UAE police show how fraudsters can access your bank account
Abu Dhabi Police has alerted people against the download of unknown apps so they can secure their...
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Cambodia Seeks Exit from FATF Grey List in Early 2023
Cambodia has finally invited the Financial Action Task Force (FATF) to evaluate its progress in f...
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e-KYC services introduced in Malaysia by InstaREM
Residents and expatriates in Malaysia can now make overseas payments safely and regularly through...
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UK to Mandate the Declaration of Crypto Holdings in Self-Assessment Tax Return Forms
The UK government is looking to mandate the declaration of crypto holding in Self Assessment tax ...
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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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Hong Kong Launches Meta Verse to Combat Crypto Crime
CyberDefender Metaverse is the first metaverse platform launched by Hong Kong Police to combat cr...
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New fake ad alert system launched to fight online scams
According to ITV, the UK Scam Ad Alert tool – developed by the Advertising Standards Authority (A...
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SFC Imposed a HK$9 Fine on RIFA Future for KYC Failings
RIFA Limited was charged by the domestic regulatory authority of Hong Kong, the Securities and Fu...
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Biden’s Administration Announces New Timeline for AML Initiative and Beneficial Ownership Rules
FACT’s anti-money laundering efforts are updated in the Biden Administration’s Spring 2023 Regula...
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US Rated as The Most Secretive Financial Jurisdiction in the World
The US has been ranked the most secretive financial jurisdiction in the world due to deterioratio...
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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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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 ...
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Banks Creating Regulations for the Cannabis Merchants for Better Compliance
Growing and dealing in cannabis was illegal a few years back. However, the medical benefits of ma...
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Enhancing Transparency and Beneficial Ownership in the Fight Against Trade-Based Money Laundering
Criminals use trade-based money laundering (TBML) to move illicit money across jurisdictions. TBM...
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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...
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First Canadian bank introduces digital ID verification
Digital Identity is progressing in Canada, with a new bank account opening process backed by digi...
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UKGC Revoked IMME’s Licence for AML Non-compliance
Licence of IMME was revoked by the UK Gambling Commission for not complying with the Anti-Money L...
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AUSTRAC to Update Guidance for Threshold Transaction Reporting
AUSTRAC has made it mandatory for reporting entities to include a threshold transaction report (T...
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Australian Gold Company, The Perth Mint, Accepts Voluntary Undertaking to Avoid AML Fines
The Australian gold corporation, the Perth Mint, escaped penalties for inadequate compliance syst...
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Pandora Papers Update: Offshore Havens and Money Laundering Scandals Exposed
The Pandora Papers expose 35 world leaders, 300 public officials and 100+ billionaires, thus prov...
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Social Media Firms May Face Parallel Regulation – Says Data Protection Authority
Social media platforms approached the I&B ministry citing apprehension that they may face par...
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Indonesia to Pass Regulations to Control Money Laundering
Indonesia is looking to develop a strong regulatory framework to curb money laundering and terror...
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Brace for Home Visits, FCA Warns Remote Traders and Bankers
UK’s Financial Conduct Authority has issued a warning for all hybrid-working financial institutio...
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Anti-Money Laundering Rules Hit Backpacker Bank Accounts
Working holiday visa holders have been reported to have difficulty obtaining bank accounts due to...
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African Federal Government Urges Collaboration to Combat Money Laundering and Terrorist Financing
The African Federal Government stressed the urgent teamwork needed to combat money laundering, te...
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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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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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