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PBOC Issues Risk-Based Account Opening Guidelines for SMEs
The PBOC has issued guidance on Oct 14, 2021, for SMEs to adopt a Risk-Based Approach (RBA) when ...
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Court Convicts Defendant of Defalcation of Public Funds in Abu Dhabi
A defendant was convicted of money laundering and tax evasion by Abu Dhabi Criminal Court and sen...
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Singapore Proposes Additional AML/CFT Requirements for FIs
Monetary Authority Singapore has issued a consultation paper proposing the scope of AML/CFT to be...
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North Korean Hackers Attempt to Launder ETH Worth $27M from Harmony Bridge Attack
North Korean hackers behind the Harmony Bridge attack continue to attempt to launder crypto funds...
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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...
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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 ...
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Fake NFT Sold for £244k from Artist “Banksy’s” Website
A fake link directed bidders to an online auction for Banksy’s NFT, which was posted on the now-d...
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The US publishes a list of North Korea’s supposed Crypto crimes
The US government, on Wednesday, outlined an aggressive set of countermeasures it said could hamp...
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Court Convicts Defendant of Defalcation of Public Funds in Abu Dhabi
A defendant was convicted of money laundering and tax evasion by Abu Dhabi Criminal Court and sen...
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Interpol Warns of the Rise in Romance Scams as Valentine’s Day Approaches
According to the Interpol, there is a new investment scam on the rise that is targeting the datin...
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South Africa links fintech startups with financial regulators
South Africa’s financial regulators have initiated the Inter-governmental Fintech Working Group (...
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Irish Police warns about the latest internet fraud
The local Irish police (Gardai) is persuading people not to fall prey to the recent online bankin...
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A Trust Company Penalised for Opening a Doorway to Money Laundering
A team of accountants and economists have been fined by a court in Channel Island for neglecting ...
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Chandigarh Cyber Cell Unit Arrested Criminals Involved in Overseas Money Laundering Activities
A gang of a Chinese national and 20 other people got arrested by Chandigarh Police. Investigation...
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UK Government to Introduce Age Verification Laws For Adult Websites
To restrict minors’ access to adult-oriented content, the UK government is working on impos...
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Japan Crypto Regulator States Easing of Restrictions Must Wait
The Japanese financial regulator FSA is reluctant about easing regulatory requirements for the cr...
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Australia’s Money Laundering Failures Increase Risk of Russia Sanctions
Australia is facing embarrassment on the possibility of being placed on the FATF’s “grey list” fo...
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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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Taiwan’s Ministry of Justice Proposes Amendments in AML Laws to Strengthen Fraud Measures
The Ministry of Justice (MOJ) called for adequate measures in AML compliance and a streamlined sy...
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UK FCA Orders Illegal Crypto Service Providers to Shut Down ATMs
The UK’s Financial Conduct Authority has ordered crypto firms operating illegally in the country ...
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Cambodia’s Presence on The Global Watchdog’s Hit List is a Threat to Country’s Reputation- States Deputy PM
Due to the enhanced ratio of financial crimes and human trafficking in Cambodia, the deputy prime...
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Singapore, Cyprus, and the US Expedite Efforts to Combat Financial Crimes Effectively
Singapore, Cyprus, and the US are stepping up their efforts to curb financial crimes while aiming...
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Uganda at Risk of Getting Blacklisted by FATF Unless it Addresses 16 Issues
Uganda is facing the risk of being added to a global blacklist for money laundering and terrorism...
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UAE Praises Singapore’s S$2.8b Financial Crime Bust
The director-general of UAE anti-money laundering and counter-terrorism financing commends Singap...
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FCA Warns Against Unregistered Crypto ATM Use
The Financial Conduct Authority (FCA) has begun taking action against unauthorised crypto ATMs in...
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The UK Introduces Beneficial Ownership Register for Overseas Entities
The implementation of the UK government’s Economic Crime (Transparency and Enforcement) Bill has ...
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Binance in Trouble for Allegedly Aiding Money Laundering Worth $2.35 Billion
An inquiry into the world’s biggest crypto exchange Binance has revealed that it has aided money ...
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Chinese Firms to Test Crypto Opportunities in Hong Kong
Chinese Security companies and banks are attracted by Hong Kong’s retail trading in Bitcoin and E...
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Japanese Gaming Giant Capcom Fell Victim to Cyberattacks
The famous gaming giant, Capcom, is being blackmailed by cyberattackers to pay $11 million bitcoi...
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‘Money Laundering risk is higher in banks in Mexico than crypto firms’, says FIU report
According to the new report generated by the country’s financial intelligence unit (FIU), the ban...
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MENAFATF Adopts Abu Dhabi Recommendations to Counter Money Laundering and Terrorism Financing
An international group based on the FATF format, MENAFATF, has adopted the Abu Dhabi recommendati...
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NGOs Advised on Due Diligence to Tackle Terrorism Financing
The Financial Crimes Commission’s SCUML has advised Non-Governmental Organizations (NGOs) to cond...
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Hungary Becomes “Largely Compliant” with FATF Standards After Improving AML/CFT Measures
The Anti-Money Laundering Body of the Council of Europe has stated that Hungary has improved its ...
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Guyana plans Amending Anti-Money Laundering Legislation
The government of Guyana is looking to amend the AML/CFT legislation in the National Assembly to ...
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SuperCare Health Faces Lawsuit for Having “Incompetent Security Measures” to Stop Data Breach
Plaintiff filed a lawsuit against SuperCare Health in the US Central District of California and a...
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HM Treasury Consults UK Government on AML Supervision Reforms
HM Treasury announced that a consultation would be conducted concerning AML/CFT supervision refor...
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NZ FMA Announces to Tighten AML/CFT Approach
FMA intends to closely monitor firms’ processes, with comprehensive assessments of how they onboa...
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FATF Issues New BO Requirements to Address Pandora Papers
While addressing the Pandora Papers, the Paris-based global financial watchdog, FATF, has issued ...
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BPI Crackdowns on Money Mules to Secure Financial Institutions
The Bank of Philippine Islands (BPI) was flagged on Wednesday as it was suspected to be involved ...
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ML/TF Legislation for Art Industry Labeled ‘Damaging and Unjust’
Cinoa, the international art & antiques dealers’ association has issued an open letter signed...
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Non-Compliant Banks Can End Up In FATF’s Gray list – Warns Governor of the South African Reserve Bank
Lesetja Kganyago, Governor SARB confirms to the Parliament’s standing committee about the i...
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Rules for AMLC Inquiry for Bank Accounts Released by the Court of Appeals (CA)
On Sunday, the Court of Appeals (CA) issued its rule of process for assessing the deposit or inve...
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Drug Trade Proceeds Laundered Through Digital Currency ATMs, Says DEA
According to the U.S Drug Enforcement Administration’s report, digital currency ATMs are growingl...
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‘Left in Limbo’: Cryptocurrency Exchanges React to FCA Registration Deadline
Today is the deadline for the digital currency firms to be registered with the UK’s financial reg...
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Swiss Regulator FINMA Issues DLT Act for Digital Securities Market
The Financial Market Supervisory Authority (FINMA) introduced regulatory amendments for digital s...
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FATF Highlights the Gaps in New Zealand’s AML Measures
Financial Action Task Force (FATF) has issued a report on New Zealand’s measures to combat money ...
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The Rise of FinTech Services can Spur Financial Risk: Says U.S. Bank Regulator
According to the US bank regulator, banks and the fintech alliance for a seamless customer experi...
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Hong Kong regulators looking into possible overcharging by brokers
HONG KONG – Hong Kong’s financial regulators announced on Monday that they would analyze th...
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Governor Bank of France to Propose Licencing for Crypto Firms
François Villeroy de Galhau, the Governor Bank of France, has passed more stringent regulatory pr...
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UAE to Issue Federal Licenses to VASPs in Efforts to Embrace Crypto
The UAE is gearing up to issue federal licenses to virtual asset providers (VASPs) within a matte...
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US State joins international task force targeting COVID-19 investment scams
The Oregon Division of Financial Regulation has recently joined an international enforcement task...
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Finance Minister Şimşek States Turkey will Devote Itself to the Prevention of Money Laundering
Deputy Treasury and Finance Minister Mehmet Şimşek stated that Türkiye would counter terrorist fi...
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FATF to Blacklist Myanmar Over Money Laundering Concerns
Myanmar faces a blacklisting threat by a FATF because of AML compliance failure and weak regulati...
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Thailand Launches Anti-Online Scam Center to Combat Cybercrimes
The Thai Government has officially launched the Anti-Online Scam Operation Centre (AOC) as of No...
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UK Gambling Commission Fines 888 with £9.4m for AML Failings
Great Britain’s Gambling Commission has issued 888 with a fine of £9.4 million over a series of s...
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Atomic Wallet Hack Results in $35 Million Loss as Investigation Continues
Atomic Wallet users have reported losing millions of dollars worth of cryptocurrency. It was anno...
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FATF Issues Guidance Paper For Incorporating Digital ID
The Financial Action Task Force (FATF) has issued a guidance paper, last week, that outlines a ri...
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Officials Concerned about the Russian Money Laundering Done Through the UK
The top officials in the UK have shown their concerns about the disturbing regularity of the Russ...
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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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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...
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State Street Bank fined $1.24 million for breaching AML laws
The US-based State Street bank has been hit with million-dollar money laundering fine. The Austra...
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Atomic Wallet Hack Results in $35 Million Loss as Investigation Continues
Atomic Wallet users have reported losing millions of dollars worth of cryptocurrency. It was anno...
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FATF Highlights the Increasing Risk of Trade-Based Money Laundering
FATF- Financial Action Task Force is warning businesses of the risk they face regarding trade-bas...
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Conveyancers Used for Laundering Millions of Pounds across the UK
Government warns that hundreds of millions of pounds are being laundered by criminals across the ...
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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...
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Ex-Microsoft engineer accused of digital currency scam
Ukrainian citizen, Volodymyr Kvashuk, has been accused of six counts of money laundering, five of...
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FATF Upgrades Guidelines on Risk-Based Approach for VA/VASPs
FATF (Financial Action Task Force) is upgrading the regulations regarding the risk-based approach...
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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...
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Central Bank Of China Tightens Financial Regulations to Curb Money Laundering
The Central Bank of China is tightening financial regulation to put limits on transactions, aimin...
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Singapore Government Discloses Modified Regulatory Measures for Stablecoins
Singapore’s Central Bank has disclosed upgraded regulatory guidelines for stablecoins to keep cry...
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Australia introduces new rules to tackle mobile identity theft
Acma (Australian Communications and Media Authority) has introduced a new regulation to fight ide...
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Poker Machines Being Preyed by Criminals Amidst COVID-19 Pandemic
During the five months of lockdown due to the COVID-19 pandemic, there has been a growth of 305 U...
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