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Credit Suisse Settles French Tax Fraud & Money Laundering Probes for €238 Million
Credit Suisse accepted a settlement of 238 million euros to resolve a tax scam and money launderi...
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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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Austrian Gamblers Struggle to Recoup Money from Illegal Betting Sites
Austrian gamblers struggle to recoup money from illegal betting sites after gambling groups face ...
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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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Arizona Bank Used to Funnel 11 Million USD in a Money Laundering Scheme
According to Federal prosecutors, a money-laundering scheme has been successful in funneling $11 ...
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FMA Sues Tiger Brokers for AML/CTF Breaches
The Financial Markets Authority (FMA) has filed court proceedings against Tiger Brokers for alleg...
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AMLC Reports Steady Rise in Phishing and Hacking Attacks in the Philippines
The Anti Money Laundering Council (AMLC) has reported a steady rise in phishing and hacking attac...
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Feds Uncover $12M Money Laundering Operation Between U.S. and Dubai
Prosecutors have uncovered a money laundering scheme dubbed “The Shadow Exchange” worth USD 12 mi...
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Landry’s Inc. warns customers of the potential data breach
Landry’s Inc., a parent company of more than 60 restaurant chains, installed a payment processing...
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Internet infrastructure industry plans on ensuring internet trust amidst COVID-19 outbreak
As a global crisis emerges due to the Coronavirus outbreak, and global population practices socia...
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The SEC Uncovers a Pyramid Scheme and Charges Multiple Individuals
The U.S. regulatory authority SEC uncovered a crypto pyramid scheme that stole approximately US$2...
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Global OCR market expected to reach $70 billion by 2030
The global OCR market is expected to grow at the CAGR of 15% from 2020 to 2030, reaching USD 70 b...
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Homeland Security Takes Back Its Plans of Facial Recognition for US Citizens
The Department of Homeland Security (DHS) is taking back its decision to implement a policy that ...
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Kenya Takes First Step to Regulate Virtual Asset Market
The Kenyan government is all set to take the first step to regulate a vast $20 Billion crypto mar...
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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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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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IAMAI To Set Up A Board To Ensure Voluntary Compliance With AML & KYC
New Delhi: On Tuesday, June 1st, the Internet and Mobile Association of India (IAMAI), announced ...
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U.S. Schools and Colleges Witness a Rise in Data Breaches
Data breaches and cyberattacks continue to grow and now targeting the education sector. Amid the ...
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SEC Files Money Laundering Complaint Against Silverlion
The Security Exchange Commission (SEC) filed a case against Silverlion Livestock Trading Corporat...
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HSBC Fined £64m for “Unacceptable AML Failings”
HSBC was fined by the UK’s financial regulator for ‘deficient transaction monitoring controls’. W...
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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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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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EUR 27 Million Worth Crypto Assets Seized by the NCA in Money Laundering Crackdown
NCA seizes crypto assets worth £27m last year in a major money laundering crackdown
Although inst...
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Hong Kong Looking to Legitimize Crypto Trading for Retail Investors
The government of Hong Kong has been looking at whether to legitimize crypto trading for retail i...
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Compliance Institute of Nigeria (CIN) to Up its Game in Addressing AML/CTF Gaps
With threats of financial fraud emerging across the globe, the Compliance Institute of Nigeria (C...
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AUSTRAC to Update Guidance for Threshold Transaction Reporting
AUSTRAC has made it mandatory for reporting entities to include a threshold transaction report (T...
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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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UK Amends Corporate Act to Combat Economic Crimes
The UK government reformed the Economic Crime and Corporate Transparency Act to expand regulation...
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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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Vietnam’s Ministry Concerned About the Risks Attached to Crypto Trading
The Finance Ministry in Vietnam has declared that cryptocurrencies have no legal framework in the...
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Following an FCA Crackdown, Cryptocurrency Investors to Wait 24 Hours Before Completing Their Transactions in the UK
The Financial Conduct Authority (FCA) crackdown forces new crypto investors in the UK to wait 24 ...
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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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Vietnam Collaborates with UK to Enhance AML Law Enforcement
The Vietnam Ministry of Public Security delegation, led by Deputy Minister Lieutenant General, Le...
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FIU Recovers $284K From Two Companies Suspected of Money Laundering and Tax Evasion
The Financial Intelligence Unit of Liberia (FIUL) has recovered more than $284,000 from two compa...
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SEC Move Ahead with Regulation of Virtual Assets Service Providers (VASPs)
Ghana’s Security Exchange Commission (SEC) has begun endorsing plans to regulate the crypto indus...
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Experts Warn Many Firms Will Face Challenges With Latest FCA UK Crypto Law
The UK’s Financial Conduct Authority (FCA) updated the crypto industry regulations recently, whic...
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PHL Ranking Declines in the Corruption Index, Reveals GRP
According to the Global Risk Profile (GRP), the ranking of the Philippines in the corruption inde...
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CSIR Reports Surge in Cybercrimes Pertaining to Work-from-home Culture
The Council for Scientific and Industrial Research (CSIR) has reported that cyberattacks have inc...
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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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LocalBitcoins Matching Exchange, Cited By U.S. In Bizlato Case, To Shut Down After 10 Years
LocalBitcoins, the crypto firm named by the US treasury in the Bizlato exchange case, has announc...
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UAE Issues a Total of $11 Million in Fines for AML Offenses in First Half of 2022
UAE’s AML task force has imposed fines of over Dh41 million ($11m) in the first six months of 202...
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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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Hong Kong Police Seizes $65 Million From Triad Controlled Money Laundering Ring
Hong Kong police detained 458 people and seized $65 million in connection with an extensive crim...
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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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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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Lebanon Central Bank Denies Money Laundering Allegations and Embezzlement Charges
The governor of the Lebanese central bank appeared in the first court hearing on the premise of s...
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Kenyan Authorities Freeze Accounts of Two Nigerian Companies for Allegedly Laundering Sh6 billion
Kenyan authorities have frozen accounts containing Sh45 million belonging to two Nigerian compani...
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Centra Tech’s Operator Sentenced a Year in Prison for ICO Fraud
Robert Farkas has been arrested and charged with the lightest sentenced felony for his part in Ce...
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EBA Restricts Diamantaires from Banking Services to Curb ML/TF Risk
Financial institutions restricting diamond dealers from banking services to comply with EU’s 2015...
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Swedish Legislators Propose an Increase in Money Laundering Penalties for the Gambling Industry
Legislators in Sweden will consider increasing penalties for gambling operators who violate the n...
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Lawrence man indicted of identity theft found guilty
BOSTON (AP) — A man charged with using another person’s Social Security number to illegally obtai...
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Spanish Regulatory Authorities Take Action Against Illegal Crypto Promotion on Social Media
The Spanish National Securities Market Commission (CNMV) is preparing rigid measures to prevent i...
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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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FinCEN Shutting the Channels of Financial Crimes Directed through Shell Companies
A major path of money laundering and tax evasion has been shut off by FinCEN with their new regul...
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Iran’s Finance Ministry Releases List of Individuals Suspected of Money Laundering
The Finance Ministry of Iran has released its first list of individuals suspected of having links...
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Australian Defense Department Hit by Ransomware Attack
Australian Defence Department has been hit by a ransomware attack. No information about former or...
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$140 Million Stolen as Crypto Gaming Company Gets Hit by Hackers
VulcanForge is the third cryptocurrency company to be targeted by hackers in just this month, wit...
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Russians Turn To Crypto As the West Imposes Financial Sanctions
Data has shown that Russians are turning towards transactions in cryptocurrency as a result of we...
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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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AMLC Freezes Assets of 16 Groups Labeled as Terrorist Organizations
The Anti-Money Laundering Council in the Philippines has frozen the accounts of 16 organizations ...
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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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UAE Freezes Assets of Irish Crime Syndicate for Laundering Money Through Dubai
The UAE has frozen the assets of Ireland’s Kinahan Crime Syndicate, mounting the pressure on an o...
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Kazakhstan has Improved to Achieve the Lowest Risk Score for ML/TF
According to the annual report of Basel Index 2020, among the 141 countries, Kazakhstan is at 73r...
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France to Implement Stringent Regulations on Cryptocurrency
France is planning on regulations that abolish the anonymity in cryptocurrency. Financial authori...
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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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Customers warned of scams by the UK banking lobby amid COVID-19
Banking customers should be aware of fraudsters who are exploiting the COVID-19 epidemic to carry...
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PSR Orders UK Banks to Reimburse Customers Tricked by Payment Fraud
PSR has advised UK banks to compensate customers who have been the victims by APP (authorized pus...
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UK Announces New Legislation to Regulate Crypto Assets Industry
The UK’s government has developed its first legal framework for cryptocurrency trading and ...
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UK Adopts new Methods to Fight Money Laundering Through Sanction Regime
The UK declared a new sanction regime against financial crimes like money laundering. According t...
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The Anti-Money Laundering (AML) Whistleblower Program is Set to Fortify US Anti-Corruption Efforts in 2024
The Anti-Money Laundering (AML) Whistleblower Program is projected to be a leading U.S. anti-corr...
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Legal Challenges Against TikTok for Breaching Child Privacy Policy
TikTok, the most trending social media application in the present times is facing legal actions f...
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UAE adopts digital identity and blockchain to fight COVID-19
Taking into account the recent Coronavirus outbreak, UAE’s Ministry of Community Development (MOC...
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