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Supreme People’s Court of China to Impose Severe Penalties for Financial Crimes
China’s top courts are set to impose heavier punishments to prevent financial crimes and mitigate...
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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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New York’s Attorney General Bent on Shutting Fraudulent Crypto Platform
New York’s attorney general has filed a lawsuit against a cryptocurrency platform, known as Coins...
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“Student” Occupation Flagged for Money Laundering in Canadian Real Estate
Son of “wanted for defrauding 60,000 investors” Chinese parents laundered millions of dollars int...
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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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Money Laundering Investigation Leads to Seizure of Canberra Properties, Vehicles, and Cash
Assets worth over $10 million have been seized after an international investigation into money la...
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White House Wants COVID Vaccine Passports to be Secure, Private, and Free
According to the White House, the Federal Government should not be responsible for verifying that...
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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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Money Mule Initiative Results Announced by the US Department of Justice
As a part of the Money Mule Initiative, the law enforcement depart of the USA has taken action ag...
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The Biggest Software Company in the US under Ransomware Attack on Election Night
Tyler Technologies in Plano, Texas, was under a ransomware attack last week. The company sells so...
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Central Banks of UAE and Saudi Arabia Released a Joint Report on CBDC
A joint report published by the central banks of UAE and Saudi Arabia, two countries with the mos...
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BSP Seeks to Tighten Rules on Reporting ML/TF Threats
The Bangko Sentral ng Pilipinas (BSP) is seeking to tighten guidelines on reporting threats relat...
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Comparitech Report Ranks Biometric Data Use: China Tops the List
Comparitech, a pro-consumer technology website, conducted a study including 50 countries and thei...
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SEC Strengthens the Scrutiny on Money Laundering Activities in Malaya
SEC (Securities and Exchange Commission) said financial institutions and lenders are now obligate...
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Adobe, Twitter and NYT Team Up Against Deepfakes
Deepfakes, whether synthetic or manipulated, are rising at an alarming rate. They can cause immen...
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US to Form ‘Digital Asset Working Group’ to Clarify Crypto Regulations
The U.S financial regulators are to work collectively to develop modalities for explicit crypto r...
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Skyrocketing NFT Sales Raise Concerns for Tax, Law Enforcement
Last month, the sales for a digital art piece was surprisingly high and raised many questions for...
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Pacific Financial Intelligence Unit Collaborates to Combat Money Laundering
The Financial Intelligence Unit of the Pacific region arranged the meeting last week to enhance t...
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Sweden Points Out the Rising Cases of Money Laundering in Gaming Industry
Financial Police of Sweden has revealed a report that highlights more than 700 cases of money lau...
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Data of Half-Million Chicago Students Exposed in a Ransomware Attack
The personal information of more than half a million Chicago students and the staff was accessed ...
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European Central Bank’s President Calls for Strict Bitcoin Regulations
The president of the European Central Bank, Christine Lagarde, says that bitcoin is a “funny busi...
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FinTech in Malaysia is Improving Due to Friendly Regulations
Malaysia has taken a user-friendly approach to adapt to financial regulations as it is working to...
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A Treasury Unit to Enforce New Anti-Money Laundering Laws in the US
A small bureau of the U.S Treasury Department will take a lead, over the next year, in filling ou...
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FCA Fines Bastion Capital For Serious AML Failings
The Financial Conduct Authority (FCA) has imposed a fine on Bastion Capital London for serious AM...
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EGBA Introduces New Guidelines to Prevent Money Laundering in Gaming Industry
EGBA (European Gaming and Betting Association) has announced new guidelines to improve the anti-m...
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Travel to Restart as Several Countries Roll out Their Version of Vaccine Passports
Japan is planning on introducing a vaccine passport to make travelling easy for people. Internati...
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Authorities Struggle in Mexico as Cartels Use Crypto for Laundering Funds
The head of financial intelligence in Mexico has revealed that the law enforcement authorities ar...
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Singapore replaces passwords and ID documents with facial recognition systems
As reported by Strait Times, Singapore plans to replace passwords and identity documents with bio...
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SA Banks at High Risk of Money Laundering & Terrorist Financing, Says Prudential Authority Report
South African banks have moved up into the high-risk category in the new report from the Prudenti...
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Singapore offers $70M to aid the fintech industry during COVID-19
Singapore has allocated SG$125 million ($70.89 million) to assist its financial services industry...
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United Nations Calls for a Pact to Fight Financial Crimes
United Nations’ panel of experts has called on the governments around the world to take part in e...
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SMEs Decry Registration Hurdles Owing to SCUML Certificate
SMEs have decried hurdles in opening business/corporate accounts due to the Anti Money Laundering...
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MEF Implements New Tax Rules on Commercial Gambling Businesses to Curb Financial Crime
The Ministry of Economy and Finance (MEF) brought about new tax rules on commercial gambling busi...
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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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“Walk the Talk” – RUSI Calls On FATF to Promote Financial Inclusion
RUSI has called out the FATF for not actively promoting financial inclusion as part of its primar...
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CBDC Rules to Be Introduced by IMF, World Bank, and G20 Countries
The international financial authorities have teamed up with the Group of Twenty (G20) to create C...
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Google Warns 12,000 Victims of Government Hacks
In just three months, from July to September 2019, Google sent out 12,000 warnings to people who ...
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Swedbank Estonia Reports High-Risk Client for Laundering $2 Billion
Swedbank Estonia labeled one of its clients a “high-risk” company due to suspicious transactions ...
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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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EU Legislation Bans On-cash Deals Over €10,000 Due to Money Laundering Threats
The European Union’s ban on cash payments over €10,000 for transactions such as car payments is e...
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$2 Trillion Moved and Now Banks Resist Money Laundering Orders
According to the ICIJ journalist, BuzzFeed shared some documents disclosing the attitude of finan...
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Economic and Financial Crimes Commission (EFCC) Notifies Estate Agents of Anti-Money Laundering Procedures
The Economic and Financial Crime Commission (EFCC) has instructed estate agents in Port Harcourt ...
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AFP to Crack Down on Italian Money Laundering Syndicates Operating in Australia
The AFP is set to crack down on Italian organised crime and money laundering syndicates flowing b...
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Lake County Attorney Launches a Financial Crimes Unit to Combat Fraud
Lake County state’s attorney announced a new Financial Crimes Unit to deal with money laundering,...
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Crypto firms Halt Business in China After an Intense Government Crackdown
Cryptocurrency businesses have stopped their operations after the government led an intense inves...
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The UK’s Financial Services Minister States Banks Should Not Close Accounts Based on Political Views of Their Customers
The financial services minister, Andrew Griffith, commented on July 4th that banks should be requ...
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Reserve Bank of Zimbabwe Reveals Most Banks Lose Correspondent Deals Due to AML Non-compliance
The Reserve Bank of Zimbabwe (RBZ) Deputy Governor disclosed that most banks are losing clients d...
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President Biden Takes the Reins with Halting Digital Assets’ Rule Making
Regulatory proposal regarding digital assets has been frozen by President Joe Biden. Biden took h...
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BSP Warns Play-to-Earn Gamers about Potential Illicit Activities
Online gaming platforms should employ KYC verification processes to make payments more secure.
T...
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US Treasury Department Introduces Beneficial Ownership Reporting Form to Enhance AML Measures
The US Treasury Department designed a beneficial ownership report form to strengthen the security...
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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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IPEC to Collaborate With FIU to Improve AML Framework
IPEC to collaborate with FIU to identify terrorist financing and money laundering risks that are ...
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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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UAE and Egypt Collaborate to Fight Money Laundering and Terrorist Financing
UAE has signed MoU with Egyptian Money Laundering and Terrorist Financing Combating Unit to stren...
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Another COVID-related lure: Phishing Scam Targeting Email Users
Amid the COVID-19 outbreak, email users are constantly warned against fraudulent emails and scams...
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Real Estate Firm LeHomes Realty Fined $282K for AML Compliance Failure
Real Estate Firm LeHomes Realty has been fined $282K for AML compliance failure. The brokerage co...
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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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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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Philippine Banks Struggle to Comply with AML Regulations
Philippian banks and financial institutions are struggling with compliances regarding the anti-mo...
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The Biggest Theft in Crypto History: $600 Million Stolen
Binance and Tether have also joined the recovery plan to help minimize the consequences of the at...
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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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LifeLabs Hit By a Data Breach Affecting Personal Information of 15 Million People
Canadian laboratory testing company, LifeLabs, disclosed on Tuesday that it had been a victim of ...
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Singaporean Banks Enhance Security to Combat Financial Crime
The Monetary Authority of Singapore (MAS) stated that the country’s banks are enhancing security ...
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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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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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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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Five Kenyan banks fined under AML laws
Five commercial banks were imposed a fine of $3.75 million in Kenya for failing to report suspici...
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Russian govt introduces Fintech Sandboxes, including Blockchain
The Russian government plans on the creation of regulatory sandboxes for companies working on con...
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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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Gaming & Investment Firms in Malta Penalised with €4.6M for AML Failures
The financial intelligence Analysis Unit has issued an annual report that shows that the total fi...
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CFTC Fines CHS Hedging for AML and Other Violations
The Commodity Futures Trading Commission (CFTC) has fined CHS Hedging a civil monetary penalty of...
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USAA Fined $140 Million for Inadequate Anti-Money Laundering Measures
Two federal regulatory authorities have fined USAA a collective $140 million for failure to imple...
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