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Chinese Authorities Bust 93 for Crypto Money Laundering Worth RMB 40 Billion
Chinese Authorities in the Hunan province have busted a criminal ring of 92 individuals for alleg...
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Ireland Campaigns to make Dublin the EU AML Authority Headquarter
A team was established in the Department of Finance by the Irish government to campaign for Dubli...
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FATF Updates on South Africa’s AML Compliance Progress
A report on South Africa’s progress in implementing AML procedures to prevent money launder...
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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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Central Bank of Nigeria (CBN) Raises Concerns Over KYC and AML Protocols
The Central Bank of Nigeria (CBN) has intensified pressure on financial institutions (FIs) to imp...
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South Korea Seizes $47M Worth of Crypto from Tax Evaders
South Korean officials have seized $47 million in cryptocurrency from 12,000 individuals accused ...
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Swiss Watchdog FINMA Mandates AML Policies on Crypto
The new legislation is trying to combat money-laundering following a series of major scandals in ...
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Half of Anti-malware Products fail to Recognize Notable Threats
According to a new report by SE labs, Most popular, well-established cybersecurity solutions do n...
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Nigeria: Senate Bans Establishment and Operations of Shell Banks
The Senate is banning the establishment and operations of shell banks in Nigeria as an attempt to...
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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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‘Businesses need to brace for Iranian Cyberattacks’ – warns Homeland Security
The news of the assassination of Iranian military commander, Qaem Soleimani, is all over the medi...
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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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Money Laundering Via Trade Has Drastically Fallen, Says Association of Bankers Bangladesh
On May 22nd, the Association of Bankers, Bangladesh (ABB) reported that trade-based money launder...
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Fake Vaccination Certificates Becoming a Full-blown Industry in 29 Countries
Thousands of fake vaccination certificates are being sold on the dark web, and through the messag...
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Central Bank of Morocco to Introduce a Comprehensive Crypto Regulation Bill
Morocco’s Central Bank is drafting a set of comprehensive cryptocurrency laws as the digital asse...
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Money Service Businesses Tighten AML/CFT Measures Amid Challenges
Microfinance firms, remittance services, and cambios have reported success in upgrading AML/CFT m...
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Japan to Form Specialized AML/CFT Team in Response to FATF Review
Japan has been advised by the FATF to enhance cross-agency coordination and overcome barriers of ...
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Fraud claim filed against HSBC Bank for ‘sham’ investment scheme
A fraud claim worth £1.3 billion has been submitted by 371 investors against HSBC UK Bank for los...
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Shufti Relocates its London Office to Facilitate the Company Growth
March 2021, Shufti is pleased to announce the relocation of its London office to a larger and...
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China’s Financial Watchdogs All Set to Regulate FinTech Sector
China’s four years regime to clear all risks from the financial system have been extended to the ...
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Optus Data Breach Leaves Millions of Australians at Risk of Identity Theft
The APF is investigating Optus’s data breach that involves millions of customers’ per...
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Canada’s Real Estate a Safe Haven for Money Laundering, Confirms Intel
Intel has confirmed the findings of CISC’s report saying that Canadian real estate is a safe have...
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CBN Introduces Guidelines to Curb Money Laundering in the Financial Sector
The Central Bank of Nigeria (CBN) has issued guidelines on anti-money laundering and combating th...
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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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Online Gambling Operator Penalized Over Failure to Meet Anti-Money Laundering Regulations
Boylesports, an online gambling operation is facing £ 2.8 million in fines for violating the regu...
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Cybercrime to Surge in Cryptocurrency Even in Post COVID-19 Economy
According to a report by Kaspersky Lab about cybersecurity and antivirus, in the post-COVID-19 wo...
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Scotland Police Give Warnings Due to the Rise in Cybercrime
Highland Police is taking a major initiative to warn the businesses of a spike in cybercrime and ...
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US Government Looking to Develop Vaccine Passports as Proof of Vaccination
The US government is looking to develop a system that would manage the credentials and verify the...
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Amendments in Thailand’s Money Laundering Act to Include New Offenses
A proposed amendment in Thailand’s Money Laundering Act was approved by the cabinet to include ad...
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UK Approves New Bill to Enhance Security in the Cryptocurrency Sector
The UK government has approved a bill to grant power to the authorities to seize cryptocurrency p...
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Europol and EU Member States Launch Operation Targeting Assets of Sanctioned Entities
Europol and EU member states along with Eurojust and Frontex have launched Operation Oscar to ass...
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FATF Finalizes Key Working Areas in its Fifth Plenary Meeting
FATF’s fifth plenary meeting consisting of 206 members of the Global Network and Observer organiz...
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China Introduces 5-Point Strategy to Enforce Crypto AML Measures
China’s newly appointed governor of the Central Bank emphasised the AML regulations to safeguard ...
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Singaporean Regulatory Authority Imposes $7.8M Worth of AML Non-Compliance Fines
The Monetary Authority of Singapore (MAS) has imposed $7.8m fines on financial sector businesses,...
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Medical Testing Postpones Money Launderer’s Sentencing
The conviction of Mark Scott, a licensed advocate involved in laundering $400 million for the unp...
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Banks in the UK Face Customer Frustration for Digital Identity Checks
The global analytics software service provider FICO has reported that the banks in the United Kin...
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New KYC and AML Compliance May Violate Privacy Laws in South Korea
The South Korean government is considering implementing KYC and AML compliance in the region, but...
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Chinese Authorities Bust 93 for Crypto Money Laundering Worth RMB 40 Billion
Chinese Authorities in the Hunan province have busted a criminal ring of 92 individuals for alleg...
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Crown Casinos Fined $450 Million for AML Failures
Casino operator Crown should pay a fine of $450 million for 546 violations of anti-money launderi...
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Germany to Establish New Regulatory Body to Combat Money Laundering
It has been reported that the German government will create a new regulatory body to combat money...
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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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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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PayPal Announces Suspension of UK Crypto Purchases from October
PayPal announced a temporary ban on UK cryptocurrency purchases, demonstrating their swift compli...
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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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Swiss Government Gears Up to Establish a Central Registry for Beneficial Ownership
The Swiss government plans to set up a central registry for beneficial ownership, a step that ind...
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FinCEN and OCC Fine Texas Bank $9 Million for BSA-AML Violations
A Texas community bank was fined by the Financial Crimes Enforcement Network (FinCEN) and the Off...
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8.3 million users affected in ‘Freepik data breach’
Freepik, a free photo and graphics site, has disclosed a major data breach that affected nearly 8...
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FATF Votes to Graylist Malta
Malta’s Prime Minister announced the news at a conference on Wednesday after local media reported...
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Binance’s Regulatory Setback in Singapore Shifts Attention to Middle East
Binance, the world’s largest cryptocurrency exchange, withdrew its application for licence in Sin...
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National Treasury of Kenya Urges Companies to Hire Anti-Money Laundering Officers
Kenya’s National Treasury Department forced financial and specified non-financial institutes to o...
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NFT Market Skyrockets to $44 Billion as Money Laundering Increases
The non-fungible token (NFT) market value has increased from $106 million in 2020 to $44 billion ...
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US Financial Authority Removes Provisional Crypto AML Regulations
The United States government removed two provisions from the National Defence Authorisation Act (...
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Japan to Form Specialized AML/CFT Team in Response to FATF Review
Japan has been advised by the FATF to enhance cross-agency coordination and overcome barriers of ...
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Artist Sues AI Generators for Alleged Industrial-Level Identity Theft
Artist, Karla Ortiz, has sued two artificial intelligence firms for generating images that mimic ...
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Regulators Criticise Deutsche Bank over Forex Mis-selling Probe
ECB and BaFin have told Deutsche Bank that they are “not satisfied” with its probe into mis-selli...
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Singapore Plans to Amend Laws to Arrest Money Mules Facilitating Scams
Singapore authorities have decided to amend laws for prosecuting money mules facilitating financi...
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Binance’s Regulatory Setback in Singapore Shifts Attention to Middle East
Binance, the world’s largest cryptocurrency exchange, withdrew its application for licence in Sin...
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American Gaming Association urges policy change on digital payments
The result of a year and half of work, the American Gaming Association has suggested a set of upd...
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HM Revenue & Customs (HMRC) Fines Property Firms Over £1 Million for Money Laundering Violations
HM Revenue & Customs has fined property firms more than £1 million for not complying with ant...
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AML Program Risks Highlighted by the Pandora Papers Scandal
Experts have advised compliance officers to divert their focus on EDD, CDD, and UBO verification ...
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8.3 million users affected in ‘Freepik data breach’
Freepik, a free photo and graphics site, has disclosed a major data breach that affected nearly 8...
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Cyprus Makes Progress in Implementing AML Measures
There has been “slight progress” made by Cyprus in implementing anti-money laundering measures, b...
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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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FATF Issues New Guidance on Mitigating Proliferation Financing Risk
The new guidance puts a spotlight on the need for effective onboarding processes, ongoing monitor...
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Singapore Passes Stringent Regulations to Clamp Down on Money Mules
Singapore has passed stringent regulations to clamp down on money mules and those who give contro...
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US Takes Steps to Regulate Digital Currency Amid Russian Sanction
President Biden signed an executive order on Wednesday wherein the federal government was urged t...
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Saskatchewan Government Invests $1.66m to Support Fight Against Money Laundering
The Government of Saskatchewan is spending $1.66 million on the Civil Forfeiture Program to back ...
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Large Korean bank to pay a huge fine for violating AML law
NEW YORK, April 20 (Reuters) – Industrial Bank of Korea 024110.KS, one of South Korea’...
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Enhanced AML/CFT Framework Pays Off – Mauritius Off FATF’s Grey List
Implementing an enhanced AML/CFT framework brings terrific news for Mauritius as they are off FAT...
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Singapore sees 300% yearly spike in Q1 cryptojacking attacks amid Coronavirus
Data published by Russian cybersecurity firm Kaspersky depicts that Singapore has witnessed a sud...
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IMF Urges Central Bank of Seychelles to Upgrade Transparency and AML Controls
The Central Bank of Seychelles (CBS) has been advised by the International Monetary Fund (IMF) to...
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US Launches National Cryptocurrency Enforcement Team
The National Cryptocurrency Enforcement Team will aid the US Department of Justice (DOJ) in disma...
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