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Turkish President Announces New Crypto Bill to Legalize Virtual Assets
Turkey’s Parliament to announce the cryptocurrency bill in the coming weeks. Legal framework will...
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Australian Police Launch Avarus, a Multi-task Force to fight Money Laundering
Australian Federal Police has set up a new multi-agency task force to fight prevailing financial ...
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“Illicit Actors are Turning to E-commerce as a Money Laundering Tool” UAE Central Bank Discloses
The United Arab Emirates central bank sees increased risks of illicit financial flows emerging fr...
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COVID-19 has Made Cybercrime More Structured
During the COVID-19 pandemic, there has been immense growth in the opportunities for cyber-relate...
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UK Issues Crypto Framework for ICOs, Stablecoins, Exchanges and Regulators
The report covers crucial aspects of crypto regulation, aiming to foster growth in the sector wit...
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Hong Kong’s New Crypto Regulations may Attract Web3 Firms Back
Hong Kong’s new proposed crypto regulation received Huobi Global’s, a Chinese crypto platform, pl...
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Nonprofit Guam Shrine Club Under Fire for Alleged Illegal Gambling and Money Laundering
Seven people, three GSC officers and four other individuals from Guam Shrine Club, a nonprofit or...
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UK Government Aims to Recover £1 Billion Lost Funds Over the Next Decade
The UK Government has put technology as the front and centre force to fight crimes and reinforce ...
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Botswana Passes New Cryptocurrency Bill, Aiming to Curb Money Laundering
Another African country, Botswana has taken a significant step towards regulating cryptocurrency ...
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Amazon Sued Over Illegal Storage of Employee Biometric Data
Lawyers from the firm of McGuire Law P.C. of Chicago filed a class action complaint on November 1...
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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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The UK’s largest mobile operator EE has announced its Digital Identity platform
EE, the UK’s largest mobile operator has announced its new Digital Identity platform to protect c...
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A Ponzi Scheme of $2.7 Million Unleashed
According to the U.S Department of Justice, a former attorney from Allentown was sentenced to six...
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The UK Introduces New Bill to Combat Identity Fraud and Financial Crime
The UK government has launched a bill to prevent the flow of dirty money through its economy by c...
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Australian Police Launch Avarus, a Multi-task Force to fight Money Laundering
Australian Federal Police has set up a new multi-agency task force to fight prevailing financial ...
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The Bicycle Hotel & Casino Fined $500K For Violating AML Laws
The Bicycle Hotel and Casino will be paying $500K in fine as it failed to report Currency Transac...
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Japan’s regulator verifies 2 new digital currency alliances
Financial regulators in Japan have approved two organizations to act as digital currency associat...
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British Columbia Makes Regulatory Change to Combat Money Laundering
The British Columbia government is providing the gambling regulator of the province more independ...
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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...
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EU Parliament Proposes Change in AML Bill to Increase Focus on NFTs
Lawmakers in the EU Parliament have proposed new changes for the upcoming AML bill to increase fo...
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FinCEN to Expand GTOs on All-cash Real Estate Purchases to Stop Money Laundering
The Financial Crimes Enforcement Network (FinCEN) has announced the expansion of its GTOs. The ne...
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Swiss Prosecutors Scrutinize Lebanon’s Central Bank for Money Laundering
Prosecutors in Switzerland are carrying out investigations from the British Virgin Islands to Gen...
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WhatsApp Receives Fine Worth $267m for Breaching EU’s Data Privacy Law
Ireland’s Data Protection Commission has stated that WhatsApp failed to inform EU citizens suffic...
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AUSTRAC, Home Affairs Say Tech Capability Not There Yet for Crypto Travel Rule
While it is understood that the crypto Travel Rule will prove to be a ‘game changer’,...
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Federal Prosecutors to End Criminal Investigations on Gambling Site ‘5Dimes’
5Dimes is a Costa Rica-based online gambling site that took bets from the US clients illegally. P...
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Non-compliant Crypto Accounts will Face Immediate Closure from Banks – Says CBN
Nigerian banks are ordered to track and freeze non-compliant crypto accounts, while banks that fa...
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Star Casino’s Share Tumbles 21% Following Money Laundering Allegations
Individuals banned from gambling at the Star casino in Sydney had been permitted to gamble at Sta...
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UK Authorities Accuse Attorneys of Failure in Combating Financial Crimes
The UK regulatory authorities asserted that new data revealed prosecutors inadequately comply wit...
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FCIU Uncovers Money Laundering Patterns Through Social Media Scams
South Yorkshire law enforcement authority has seized EUR 70,000 placed in the illicit gambling ac...
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FinCEN Wants Banks to Submit SARs to Affiliates Under AML Act 2021
FinCEN proposed a new rule that will allow banks to share suspicious activity reports with foreig...
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UK Approves New Age Verification Laws to Protect Children
The UK government approved the “Online Safety Bill,” which contains measures to protect children ...
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United Nations Ranks Kenya at Position 24 in the Dirty Money Business
Every year, the United Nations conducts surveys on how the countries are performing. One of the U...
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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...
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Silvergate Bank ‘Aided and Abetted’ FTX Fraud, Alleges Lawsuit
The latest class action filings in the string of lawsuits allege Silvergate Bank over the last tw...
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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...
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U.S. SEC chair nominated to regulate crypto oversight
William Barr, United States Attorney General announced that President Trump is likely to task Jay...
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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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CBUAE Cancels Registration of Insurance Broker for AML Non-compliance
The Central Bank of the UAE (CBUAE) has cancelled Al Fazaa’s registration as an insurance a...
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The Commodity Futures Trading Commission to Regulate the Crypto Market with “Full Oversight Capabilities”
The chairman of the CFTC discussed that his agency would regulate the crypto market. Digital Com...
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Central Bank of China Issues Warning of DC/EP Fraud
China’s Central bank, the People’s Bank of China along with two other regulatory authorities has ...
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Signature Bank under Criminal Investigation
US prosecutors are investigating the relation of Signature Bank with crypto clients as regulators...
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The United Kingdom implements new Anti-Money Laundering regulations
The United Kingdom’s finance and economics department has announced the incorporation of new Anti...
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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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Banks Warned about Cryptocurrency Risk Exposure by FinCEN Director
During a virtual anti-money laundering conference by ACAMS in Las Vegas earlier this week, FinCEN...
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CIBC Fined C$1.3M by Canadian Anti-Money Laundering Authority
Canadian regulatory authorities imposed a $1.3m penalty on the Canadian Imperial Bank of Commerce...
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Interpol Seizes $130M Worth of Virtual Assets from Cybercriminals Worldwide
The International Criminal Police Organization Interpol has seized $130 million worth of virtual ...
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UKGC Imposes EUR 780K Fine on Buzz Bingo for AML Failure
Buzz Bingo has been fined £780,000 by the UK Gambling Commission (UKGC) for social responsibility...
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Taiwan Initiates Industry Association to Regulate Cryptocurrency Sector
Nine crypto exchange platforms formed a group to create an industry association to regulate Taiwa...
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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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Vending machines can now be operated with Bitcoins
Vending machines used by key Asia-Pacific soft-drink bottler and distributor Coca-Cola Amatil wil...
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FinCEN Wants Banks to Submit SARs to Affiliates Under AML Act 2021
FinCEN proposed a new rule that will allow banks to share suspicious activity reports with foreig...
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Swedbank cuts former CEO’s Golden Parachute over Money-Laundering
STOCKHOLM – Swedbank has canceled the severance pay of former CEO, Birgitte Bonnesen after ...
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Sberbank Warns Russians; Cybercrime Cost the Nation $49bn in 2020
According to Russia’s largest state-owned bank, Sberbank, the total amount the citizens along wit...
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UAE Convenes Summit on Curbing Money Laundering and Terrorism Financing
The UAE convened an international summit on money laundering and terrorist financing prevention i...
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Westpac Proven Guilty of Breaching Money Laundering Laws after Commonwealth Bank
Westpac was accused of violating the money laundering laws and counter-terrorism financial allega...
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South Africa Must Fix Holes in Money Laundering Regulation by 2025, Warns FATF
South Africa needs to improve its Anti-Money Laundering and Counter-Terrorist Financing regulatio...
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Crypto Industry Rejects New Rules to Report NFT and DeFi Transactions
The representatives of the Crypto industry have disapproved of reporting data about NFTs, DeFi tr...
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FCA Under Pressure for Compliance and Authorisation Delays
The FCA is being approached by regulatory experts due to backlogs in the provision of regulatory ...
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EFCC Urges DNFBPs to Align Operations with Newly Enacted Money Laundering Prohibition and Prevention Act 2022
EFCC has called on designated non-financial businesses and professions to conduct their dealings ...
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Australian Law Council Reports Reveals Risks in Legal Attorney’s AML Measures
The Australian Law Council revealed a report that shows loopholes in attorneys’ compliance ...
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Turkey to Face FATF’s Gray List Over Inadequate AML Practices
FATF is set to grey list Turkey over AML shortcomings, a move that is likely to affect the countr...
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UK to Propose Regulatory Protocols for Stablecoins
The government of the UK has declared incoming regulations for stable coins currency. It has also...
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Switzerland Falls Behind in the Fight Against Money Laundering
The Parliament of Switzerland has voted against the requirement of performing due diligence on la...
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Sri Lankan Regulatory Authorities Enforce AML/CFT Measures to Avoid FATF Grey and Black List
The Financial Action Task Force (FATF) started cracking down on Sri Lanka’s financial institutes ...
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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...
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Real Estate is Becoming a Primary Target for Money Launderers in the UK
According to a government report, Luxury London homes are a new method to launder illicit funds. ...
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UKGC imposed EUR 3.8 Million Fine on Genesis Global for Social Responsibility and Money Laundering Violations
After the two-year investigation, the United Kingdom Gambling Commission (UKGC) imposed EUR 3.8 m...
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KYC Alliance between Dubai Economy and six banks
As reported by Gulf News, Dubai Economy along with Emirates NBD, Emirates Islamic, HSBC, RAKBANK,...
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$8.6 Million Worth of Syrian Sanctions Settled by a French Bank
A French bank, Union de Banques Arabes et Françaises has paid the 8.6 million USD for violating o...
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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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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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ACMA Introduces New Policies to Combat SIM-Swapping Scams at Telcos
New policies have been introduced by ACMA to prevent SIM-Swapping attack for Telcos to protect us...
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