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Abu Dhabi to Establish Executive Office to Combat Illicit Financial Flow
A specialised court in Abu Dhabi will be developed to oversee the measures to fight financial cri...
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Hackers Steal $625 Million from Ronin Network in Largest-Ever Crypto Theft
Hackers stole approximately $625 million in crypto from the Ronin blockchain and the video game n...
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FinCEN Launches Regulatory Process For AML Regulation on Antiquities
The ANPRM discusses how antiquities trade can be exploited by money launderers and terrorist fina...
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Transparency International Declares South Sudan Second Most Corrupt Country
In the East African region, South Sudan has been ranked as the most corrupt country in the world....
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FCA Fines Nigeria’s Guaranty Trust Bank Over AML Control Failures
The (FCA) Financial Conduct Authority has charged 7.6 million pounds ($9.3 million) to the UK sub...
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EU to Disclose the Names of the Non-Compliant Banks
EBA, The European Banking Authority is setting up a database to highlight the names of banks and ...
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Crypto Services Approved Under AMLD5 Regulations by the Dutch Central Bank
De Nederlandsche Bank NV (DNB) has permitted AMDAX BV the Central Bank of Netherlands to operate ...
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FATF Claims Golden Visa Programs Raise Financial Crimes Activities
The international regulatory body, Financial Action Task Force (FATF), reported that Citizenship ...
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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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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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DFSA and Financial Intelligence Collaborate to Combat Financial Crime in UAE
Memorandum of Understanding (MoU) between the Dubai Financial Services Authority (DFSA) and the F...
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Former NFL Player Guilty of Identity Theft, COVID-19 Relief Fraud
Ex NFL player has been found guilty to one count of unauthorized access device fraud and one coun...
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FATF applauds Korea’s AML and CFT efforts
According to the FATF, Korea features a sound legal framework to tackle money concealment and ter...
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AUSTRAC Warns Banks Against Closing Accounts of Crypto Traders
AUSTRAC shows full support for the Australian crypto industry and is issuing warnings to banks ag...
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Fintech funding dwindles amidst Coronavirus pandemic
Fintech funding reduced at the beginning of 2020 because the COVID-19 outbreak began to hit late ...
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Canada’s Anti-Money Laundering Crackdown Gets Support From Coalition
The Canadian government has swiftly responded to a call for action from an alliance of organizati...
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New AML Reforms ‘Tranche 1.5’ Take Effect in Australia
In an attempt to streamline customer verification and correspondent banking, AUSTRAC has issued r...
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Regulators in Hong Kong Urge Banks to Accept Cryptocurrencies
Hong Kong banks are worried about regulatory repercussions for their crypto clients if money laun...
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Taiwan FSC to Ease Authentication Rules through Biometric Verification
According to new rules, banks will be using biometric authentication methods to fulfil ID authent...
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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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Danske Bank Charged with $413m for Defrauding Investors about AML Shortcomings
The Securities and Exchange Commission has charged Danske Bank $413 million for misleading its cu...
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UK Treasury Committee Launches Inquiry into the Role of Crypto Assets and the Associated Risks
The Treasury Committee of the UK’s House of Commons has urged the public to submit their take and...
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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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Chinese Watchdog Taking Action Against Many in the Massive Bank Fraud
The biggest bank fraud in China pushed the government to arrest hundreds of suspects. Regulators ...
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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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CFTC Charges South African Pool Operator for BTC Fraud Worth $1.7 Billion
CTFC charges a South African pool operator Steynberg for the largest fraud case in the region inv...
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Latin America’s Private Investment Funds at Risk of Money Laundering
Private investment funds are exposed to money laundering as they contain a number of structural r...
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Homeland Security Wants Facial Recognition For All Entering or Leaving US
The federal government is considering changing airport security in a major way. Facial recognitio...
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Bitcoin scam exposes thousands to a data breach
Fraud websites have successfully stolen the personal records of a number of individuals from the ...
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MAS Finalises New Data-sharing Platforms for the Banking Sector
MAS has developed a new platform that will allow banks to securely share information and warn eac...
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Money Laundering Watchdog Fines HSBC for AML Violations
HSBC Malta has been fined €82,000 by Financial Intelligence Analysis Unit (FIAU) for AML violatio...
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Oman’s OCCI Says ‘Money Laundering in Real Estate Needs Monitoring’
Oman Chamber of Commerce and Industry (OCCI) has called for a review of the legislation that gove...
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Research for Implications of CBDC on the Rise in Australia
As of the November 2 announcement of the Reserve Bank of Australia, the country has partnered wit...
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1803 Arrested in Money Laundering Crackdown Coordinated by 27 Countries
In a major money laundering crackdown, European police identified more than 18,000 money mules, a...
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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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NSW Make Reforms to Counter Money Laundering and Gambling
The New South Wales government embraces new reforms to counter the issue of money laundering and ...
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Seattle Airport Resists Federal Push for Facial Recognition
Facial recognition technology won’t be installed at the boarding gates of the Seattle-Tacoma Inte...
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FATF Points Out Jurisdictions with Inadequate AML/CFT Measures
After the Financial Action Task Force issued public statements regarding updates to its lists of ...
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EU Warns About the Impact of COVID-19 on Non-Regulated Crypto Investments
European Union’s financial regulatory agency, the European Securities and Markets Authority (ESMA...
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HKMA Issues Mandate to Encourage Innovation in AML/CFT
Hong Kong’s Monetary Authority is set to launch interactive lab sessions to experiment with innov...
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Philippines to Exit FATF Gray List Next Year, Says Governor BSP
Felipe M. Medalla, the governor of BSP, says that the Philippines have one year to exit the FATF ...
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FSRA to Take Action Over the MGA’s Training Practices
The Financial Services Regulatory Authority of Ontario (FSRA) has notified that it’s going to tak...
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Electronics Giant Samsung Confirms a Data Breach Affecting Personal Information of Customers
Samsung announced a data breach involving customers’ personal information, assuring that so...
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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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ICAEW and B20 Task Force to Introduce Recommendations For Combating Financial Crimes
Policies for anti-money laundering and terrorist financing compliance will be introduced to comba...
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UK to End “Golden Visa” Regime to Tackle Money Laundering
The UK is looking to scrap its so-called “Golden Visa” regime in a short period as Russian action...
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The market for Digital Identity Solutions expected to double by 2024
The market for Digital Identity Solutions is predicted to double between 2019 and 2024, as report...
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FinCEN Warns Banks of Potential Russian Sanctions Evasion
The Financial Crimes Enforcement Network (FinCEN) has warned banks of possible suspicious practic...
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US Senator Joe Manchin Introduces Digital Asset Anti-Money Laundering Act to Curb Unauthorised Crypto Flow
US Senator Joe Manchin, along with Senators Roger Marshall, Lindsy Graham, and Elizabeth Warren, ...
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German FinTech N26 Notches $100M Amid COVID-19 Uncertainty
A funding deal for an extra $100 million has been closed by a German challenger bank N26 as it pr...
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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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Portuguese Banks Restrict Services for Crypto Exchanges, Citing Risky Grounds
Portuguese banks have restricted services of multiple crypto exchange firms operating in the coun...
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Bank of Ghana Issues New Guidelines for AML and CTF
The Bank of Ghana (BOG) has introduced new directives on Anti Money Laundering/Combating the Fina...
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NSW Government Introduces New Money Laundering Laws To Combat Organised Crimes
The New South Wales government add new laws to increase the security against the criminal gangs ...
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Vietnam’s New Legislation on E-Transactions Will Take Effect on July 2024
The National Assembly of Vietnam passed the new e-Transaction law replacing the previous one, No....
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Pinterest Enhances Age Verification Measures to Protect Users Under 16
Pinterest reveals a new series of security features to make its platforms secure for teens. These...
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UAE’s AML Body Adopts Regulatory Framework for Virtual Assets
The new rule for virtual assets has been devised in accordance with the crypto travel rule issued...
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UAE Delegation to Visit the US to Discuss AML Initiatives
The UAE and the US put forward their efforts to minimize the risks associated with virtual assets...
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Lloyds Bank Charged with £500K Fine for Breach of Financial Regulatory Standards
Lloyds Bank corporate markets jersey received a fine of £498,000 in relation to the dealings with...
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U.S. Takes the Lead in Combating Illegal Financial Activities Through Updated AML Timelines
The Biden Administration released a new fact sheet highlighting the administration’s progre...
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House Bill Passed in Philippine to Enforce AML LAW
House of Representatives has approved legal amendments to regulate the developers, metal dealers,...
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Uber joins lawsuits to exempt itself from California law
California law effective from today, i.e. Jan 1 is all set to give equal protection to independen...
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German Parliament Passes Anti-Money Laundering Laws
On Thursday, the German parliament passed a draft of anti-money laundering measures to make sure ...
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Binance Resorts to Shady Crypto Firms as Authorised Options Run Short
Binance, the global crypto exchange leader, retract to shady asset companies as authorised option...
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EU to Introduce Sixth ‘Anti-Money Laundering Authority’ for Crypto Oversight
The European Union is planning to introduce the sixth “Anti Money Laundering Authority” to look u...
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U.K. Parliament Introduces New Online Safety Bill to Curb Push Payment Fraud
The UK Parliament introduces a new Online Safety Bill, to mitigate push payment fraud and increas...
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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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After China, Japanese Officials Considering to Introduce Digital Currency too
China has begun trials for its digital assets and issued 10 million yuan last week. The efforts o...
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EU Endorses New Crypto Tax Data Sharing Rules
Strict obligations are set to be implemented in the EU’s digital assets industry. Tax authorities...
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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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IMF Urges El Salvador to Restrict Cryptocurrencies as Legal Tender Amid Money Laundering Risks
The International Monetary Fund (IMF) is persuading El Salvador to revoke the initiative of makin...
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WhatsApp accounts hacked to acquire bank card details
Recently a new scam has emerged in Singapore where hackers are found to take-over WhatsApp accoun...
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