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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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Kuwait Bans Crypto-Related Activities to Combat Money Laundering
The government of Kuwait banned all crypto-related activities on July 18th, including mining, tra...
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South Korea Demands Crypto Exchange Data from Banks for Tighter Regulations
The financial regulators in South Korea are seeking crypto exchange data from the banks in order ...
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Indonesia Becomes Member of International Watchdog, FATF
The international money laundering watchdog, FATF, includes Indonesia as its member state, in a g...
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Namibia Launches Cyber Security Council to Curb e-Fraud
Namibia has established a cyber security council that would act as a useful forum for discussions...
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Feds Bust Columbian Drug Cartel’s Scheme to Launder “Millions” Through US Banks
A Columbian drug cartel’s scheme was busted by the federal prosecutors who moved millions through...
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UAE to Demonstrate Effective Financial Crime Prevention to be Removed From FATF Gray List
The economic secretary of the UK recently stated (April 25th, 2023) that the United Arab Emirates...
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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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MASAK to Investigate Short Video Hosting Platform, TikTok Over Money Laundering Allegations
MASAK is investigating the scammers involved in money laundering on TikTok. Over the serious alle...
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Australian Government Announces Development of Gambling Regulations Commission
Australian spokespersons for Gambling and Harm Reduction forced the New South Wales (NSW) governm...
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Cambodia Exits FATF Anti-Money Laundering Gray list, Philippines Remain
The global watchdog has removed Cambodia from its list of jurisdictions under increased monitorin...
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Taiwan Bans Four Foreign Banks for Breaching FX Regulations
The Central Bank of Taiwan has penalized four foreign banks for assisting 8 major grain companies...
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Japan to Enforce Strict Anti-Money Laundering Laws on Cryptocurrency
A stringent set of anti-money laundering measures will be implemented in Japan starting June 1st,...
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FBI Expands its Corruption Unit to Closely Monitor Illicit Activities
The Federal Bureau of Investigation (FBI) has stepped in, to monitor international corruption by ...
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11 Jailed in Saudi Arabia for Laundering $2.7 Billion
Saudi Arabia has jailed and fined 11 individuals SR62.5 million for money laundering. The group l...
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UAE startup relies on Blockchain to flatten COVID-19 curve
In5, UAE based start-up incubator, is assisting to design blockchain-based techniques to suppress...
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Europol Convicts Israel-France Gang on $40 Million Money Laundering Plot
Europol’s joint investigation with French authorities has led to the dismantling of a Franco-Isra...
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Taiwan Bans Four Foreign Banks for Breaching FX Regulations
The Central Bank of Taiwan has penalized four foreign banks for assisting 8 major grain companies...
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China Makes Facial Recognition Mandatory For Smartphone Users
China is making it mandatory for all smartphone users who register new SIM cards to submit to fac...
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Crown Resorts Accused of ‘Serious and Systemic’ Money-Laundering Breaches
AUSTRAC has brought Crown Resorts to court as the casino breached anti-money laundering regulatio...
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Increasing Financial Crimes Call to Establish a European Center of Excellence For AML Compliance
EU financial and anti-financial crime regulations are more complicated than before and they reinf...
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Hong Kong Police Reveals 822 Romance Scams Occurred in 1H of 2021
The Hong Kong Police has advised the public to remain cautious when meeting people online due to ...
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Leading MSB Industry Associations Introduce Best Practices For Anti-Money Laundering
The introduction of the best practices for anti-money laundering by leading MSB industry associat...
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Adelaide Casino to Face Court Action Over AML/CTF Violations
AUSTRAC has revealed the beginning of civil penalty proceedings in the Federal Court against SkyC...
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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...
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Cyprus to Test UBO Registration System for AML Compliance
The government of Cyprus has indicated it will test a system for registering ultimate beneficial ...
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Founders of BitMEX Penalised for Their Inefficacy in Preventing Money Laundering
Arthur Hayes, Benjamin, Delo, and Samuel Reed – the co-founders of BitMEX charged for viola...
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The Biggest Theft in Crypto History: $600 Million Stolen
Binance and Tether have also joined the recovery plan to help minimize the consequences of the at...
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Beware of Puppy Scams This Holiday Season – BBB
The Better Business Bureau (BBB) has warned people to be cautious of online puppy scams, especial...
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British Government Prepares Task Force to Halt Financial Crimes
After observing a 70% increase in push-payment fraud, the UK’s government has devised a tas...
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£23.8 Million Fined to MT Global for AML Non-Compliance
A Money Service Business (MSB) firm, MT Global, penalized by HM Revenue and Customs for breaching...
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EU Legislates Rigid Traceability Rules for Crypto Transfers to Fight Money Laundering
The EU on Thursday legislates more strict traceability rules for cryptocurrencies transfer, in a ...
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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...
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GIABA to Release Liberia’s AML and CFT Compliance Evaluation Report
The GIABA has finally released its findings about Liberia’s gains and challenges in the fight aga...
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CBDC Rules to Be Introduced by IMF, World Bank, and G20 Countries
The international financial authorities have teamed up with the Group of Twenty (G20) to create C...
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RBI to Strengthen KYC Guidelines for the Crypto Industry
IndiaTech has suggested enhancing the KYC guidelines and obligating the cryptocurrency industry 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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UAE Strengthens AML Measures to Bolster Virtual Asset Framework
The UAE’s anti-money laundering and counter-terrorism financing department stated it continues bo...
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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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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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Netflix ‘Update your payment” phishing scam is bypassing email spam filters
Phishing scams are taking a new turn as more and more people are using streaming services during ...
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Aussies Bombarded With Scams in 2022 – ACCC Report
The Australian Competition and Consumer Commission (ACCC) reported Aussies as the top target of s...
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Deutsche Bank Pays $130M to Avoid Corrupt Payment Charges
Deutsche Bank, a German investment bank, has agreed to pay the fine of $130 million to settle the...
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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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China Makes Facial Recognition Mandatory For Smartphone Users
China is making it mandatory for all smartphone users who register new SIM cards to submit to fac...
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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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Few Hours Left! Was Mail-in-Ballots Successful?
The US elections 2020 have been exhilarating yet stressful for all the residents. The coronavirus...
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Indian Brokers Under Investigation for Alleged Money Laundering and Identity Theft
Three of the most prominent brokers in the country have come under scrutiny from numerous regulat...
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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...
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“Steer Clear Of Online Shopping Fraud This Holiday Season”, Says Victor Fredung
Following the FTC’s statement regarding online shopping fraud, Shufti’s CEO Victo...
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Cyprus to Test UBO Registration System for AML Compliance
The government of Cyprus has indicated it will test a system for registering ultimate beneficial ...
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Singapore: MAS Preparing Data Sharing Platforms to Combat FinCrime
The Monetary Authority of Singapore (MAS) is creating a digital platform named Cosmic that will a...
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Estonian Government to Strengthen AML Framework to Lift Crypto Ban
The Estonian Finance Ministry drafted AML amendments that will affect virtual asset service provi...
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New York Financial Department Releases Guidelines On Dollar-Backed Stable Coins
The New York Financial Department has released “Guidance on the Issuance of U.S. Dollar-Backed St...
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FBI Expands its Corruption Unit to Closely Monitor Illicit Activities
The Federal Bureau of Investigation (FBI) has stepped in, to monitor international corruption by ...
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Face Detection Tool to Fight Bots Under Trial by Facebook
Facebook is currently battling a $35 billion class-action lawsuit for alleged misuse of facial re...
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Liberian Ministers Allegedly Laundering Money Using Foreign Lobbying Contracts, Investigation Reveals
Liberia, one of the poorest countries in the world, is said to spend an enormous and highly suspi...
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FATF meeting scheduled to discuss VASPs compliance
The Financial Action Task Force (FATF) has scheduled a plenary meeting on June 24 to monitor the ...
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Ghana Records $4.33m Financial Losses to Cyber Fraud in Q1’23
Ghana suffered direct financial losses of US $4.33 million due to cyber fraud activities between ...
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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...
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$8M seized, Four Arrested for Money Laundering Activities Across Sydney
The Sydney law enforcement authorities seized more than $8 million in cash and arrested four crim...
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Aussies Lost Record-breaking $851 million During COVID-19: ACCC Reports
Amid the pandemic, Australians lost a record-breaking amount of $851 million in 2020. According t...
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ICO Warns Public Bodies Over Failure to Respond FOI Requests
ICO warned public bodies regarding Freedom of Information (FOI) requests failure. Different depar...
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Philippines: Banks Reminded to Closely Monitor and Report Suspicious Transactions
Philippines ramps up efforts to step out of the FATF’s grey list and reminds banks to monitor and...
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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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UAE Central Bank Imposes Financial Sanctions on Six Banks for CDD Failures
Six banks in the UAE have been issued financial sanctions by the UAE Central Bank for not complyi...
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EU Takes First Step to Set Up Anti-Money Laundering Supervisor
The European Union should contemplate creating an independent agency to supervise anti-money laun...
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Cryptocurrency brought under AML rules in Singapore
Coinpip, the Singaporean cryptocurrency provider, has closed down its operations, in spite of dec...
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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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Australian Law Council Reports Practitioners Successfully Mitigating Money Laundering Risks
The Australian Law Council claimed they noticed in the survey that lawyers uphold rigorous regula...
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UK Government Issues New Guidance On Data Collection Related To Self Custody Crypto Wallets
The government of the United Kingdom is issuing new rules on the collection of data for the crypt...
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COJ Organizes Anti-Money Laundering Unit to Meet FATF Standards
The Companies Office of Jamaica (COJ) has established an AML and CFT unit to comply with FATF req...
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