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Mega Bank Fined $10 Million in Fake Mortgage Case
Due to poor internal controls, 28 fraudulent mortgage applications went undetected.
The Financia...
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UKGC Revoked IMME’s Licence for AML Non-compliance
Licence of IMME was revoked by the UK Gambling Commission for not complying with the Anti-Money L...
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SriLankan Government to Enforce Money Laundering Law to Restrict Illicit Flow of Money
The current scenario of the Sri Lankan currency’s downfall has become a reason for money la...
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Australian Regulators Oblige Businesses to Report Suspicious Transactions
The Australian regulatory authorities ordered digital businesses to report cyberattacks and suspi...
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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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UN Warns of Money Laundering Risks Arising from Mekong Region Casinos
According to the U.N. Office on Drugs and Crime, the bond of China and Thailand with Myanmar is g...
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The Ringleader of a Crypto-Ponzi Scheme Arrested After a Flee Attempt
Mathew Piercey, a Ponzi scheme leader who defrauded $35 million for crypto mining and other inves...
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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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Japan: FSA Sets a Firm Deadline For FI to Ensure Full AML/CFT Compliance
Japan’s Financial Services Agency (FSA) has strictly directed financial institutions to devise a ...
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China Pledges “Zero Tolerance” for Financial Fraud
Top financial regulators in China pledged to introduce stricter controls following the recent dis...
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UK’s FCA Warns Challenger Banks Over Inadequate AML Measures
The UK’s main financial regulator has warned challenger banks to improve measures for fighting fi...
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China Strengthens Anti-Money Laundering Rules for Financial Institutions
China has taken steps to improve financial institutions’ measures to combat money laundering by p...
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1.6M Unemployment Claim Filers Exposed Due to Data Breach
The Washington State Auditor’s Office has investigated an incident that has exposed the personal ...
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US Banking Regulator Advises Federal Licensing Framework for Crypto Firms
Brian Brooks, Chief Operating Officer of the U.S. Office of the Comptroller of the Currency (OCC)...
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CCPA in effect – Mozilla firefox will let users delete their collected data
The California Consumer Privacy Act came into effect on Wednesday, Jan 1. Being obliged by the ne...
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German Authorities Shut Down ChipMixer on Suspicion of Laundering $2.9B Worth of Bitcoins
Law enforcement authorities bring down German-based server ChipMix alleged of laundering $2.9 bil...
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Rapstar Captured for His Role in Wire Fraud Scheme
A famous rapper from Chicago with his crew members was caught and charged in court for using the ...
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Facial Recognition Market to Grow 12.5% Annually Through 2024
According to a new report by Mordor Intelligence, the facial recognition market is expected to gr...
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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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FINTRAC Issues Alert on Money Laundering from Illegal Wildlife Trade
FINTRAC, in collaboration with the Project Anton team, issues an alert on money laundering procee...
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South Korean merchants open to accepting digital yuan
According to the South Korean media, the local merchants could accept the upcoming digital yuan a...
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FBI Seizes $1.7M During 3-Month Crypto Operation
During a 3-month operation from March to May, the FBI seized $1.7m worth of cryptocurrencies, inc...
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FATF Withdraws Switzerland From AML Enhanced Measures List
The Financial Action Task Force (FATF) removed Switzerland from the enhanced money-laundering com...
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FIU to Audit Crypto Exchanges, Aiming to Reduce Money Laundering
Financial Intelligence Unit under Financial Services Commission to audit Korea’s cryptocurrency e...
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Effective Measures are Needed to Tackle Money Laundering and Terrorist Financing, Says EMLCU’s Head
The Union of Arab Banks arranged the three-day anti-money laundering and terrorist financing even...
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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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New York Federal Reserve Sued by Puerto Rican Bank For Blocking Service in Venezuela
A Puerto Rican bank has sued the New York Federal Reserve on 25th July for suspending their acces...
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Emirates Delegation of Anti-Money Laundering and Counter-Terrorism Financing Visits US
The Emirates Executive Office of Money Laundering and Counter-Terrorism Financing visited Washing...
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Man Arrested For Stealing Identities, Funding 1800 Online Gambling Accounts
The man suspected of stealing other’s identities to create online gambling accounts has finally b...
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Clubs to Adopt Digital Wallets as NSW Reveals Money Laundering Via Machines
The clubs in Australia are to adopt the digital wallet for poker machines as the regulators disco...
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Anti-Money Laundering Assessment of Sri Lanka Expected Shortly by FATF
In a recent statement, President Ranil Wickremesinghe announced that Sri Lanka will begin its nex...
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Cambodian Minister of Justice Addresses AML Action Plan to Escape FATF’s Gray List
The Minister of Justice Koeut Rith has advised all financial institutions to continue their coope...
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SEC Enforces Srilankan Compliance Officers To Conduct Adequate AML Measures
The Security Exchange Commission of Sri Lanka (SECS) and Colombo Stock Exchange (CSE) recently ar...
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Crypto Bill Approved by the US Congress Set to Revamp Digital Asset Securities
The US Congress presented comprehensive legislation for the crypto market to redefine workflows a...
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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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FINRA Issues Guidelines Regarding Penalties for Anti-Money Laundering Violations
FINRA has issued its first-ever guidance to its member broker-dealers about the penalties that wi...
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Pandora Papers Update: Offshore Havens and Money Laundering Scandals Exposed
The Pandora Papers expose 35 world leaders, 300 public officials and 100+ billionaires, thus prov...
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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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EU Urges the UK to Push Harder on Tax Avoidance and AML Regulations
The European Union has shown concerns regarding legal permits which allow financial services prov...
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EU and British Financial Watchdogs to Investigate Digital Stock Tokens
The German and British regulators are reportedly investigating the stock token trading, recently ...
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FCA Fines Santander and Metro Bank for AML Compliance Gaps
The financial market regulator FCA has found compliance gaps in Anti Money Laundering (AML) syste...
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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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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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SEC Enforces Srilankan Compliance Officers To Conduct Adequate AML Measures
The Security Exchange Commission of Sri Lanka (SECS) and Colombo Stock Exchange (CSE) recently ar...
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Updated Crypto AML Rule in South Korea Set to Take Effect from 25th March
South Korea’s official financial regulatory body, the Financial Services Commission (FSC), announ...
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FSRA Imposed a Dh 1.32 Million Fine on Wise Nuqud Ltd for AML Failings
FSRA imposed a Dh 1.32 million fine on Wise Nuqud for AML failings. Wise cooperated in the invest...
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Austrac Warns of Money Laundering Risks Unless More Prosecutions are Conducted
Austrac has warned the law enforcement agencies in Australia that they must conduct more money la...
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Saudi Bank Warns Citizens Against Financial Fraud Schemes Circulating via Fake News Websites
The Saudi Ministry of Commerce is reiterating warnings about fake news websites looting people by...
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Luxembourg Updates AML Laws for Verification of Beneficial Ownership
Luxembourg has amended its Anti-Money Laundering regulation requiring practitioners to identify b...
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Zipmex Crypto Trading Platform Suspends All Activities in Thailand
Zipmex cryptocurrency exchange firm withdrew all activities in Thailand until 31st January 2024 t...
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Jamaican Senate Approves Order to Combat Money Laundering
The Jamaican Senate recently approved the Proceeds of Crime (DNFBPs)(TCSPs) Order, 2022, which is...
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Dutch Authorities Seize $29 Million in Cryptocurrencies After Money Laundering Investigation
$29 million in crypto were seized over the last few months in money laundering investigations car...
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Danske Bank Facing the Long-term Cost of Money Laundering
Danske Bank is still facing the consequences of its involvement in the €200 billion worth of mone...
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AUSTRAC Hits Military Bank with Enforcement Action to Ensure AML Compliance
The financial regulator in Australia has hit the Australian Military Bank with implementation act...
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Swedbank Fined And Remains Under Investigation by US Authorities
As Danske Bank awaits judgment by US regulators for being involved in Europe’s largest-ever money...
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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 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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Adelaide Casino to Face Court Action Over AML/CTF Violations
AUSTRAC has revealed the beginning of civil penalty proceedings in the Federal Court against SkyC...
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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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FinCEN Fines Puerto Rican Bank, Bancrédito, $15 Million on BSA Violation
Puerto Rican bank, Bancrédito, was fined $15 million by the Financial Crimes Enforcement Network ...
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FATF to Shorten Its Fifth Round of Mutual Evaluation to Assess Countries’ AML Regimes
The Financial Action Task Force has announced that it will shorten its fifth round of mutual eval...
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AUSTRAC Teams Up with Pacific to Counter Money Laundering For Enhanced Regional Security
Australia’s AML Agency AUSTRAC has partnered with the Pacific Financial Intelligence Unit t...
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Amazon Warns UK Customers Over Rising Threat of Impersonation Scams
Amazon has cautioned UK customers about the rising threat of impersonation scams via phone calls,...
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Canada to Update AML Laws for Payments Services, FinTechs and Crowdfunding Platforms
The Canadian government’s federal budget announced that new regulations will be implemented to up...
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Hogan and other US Top Official Become the Victim of Identity Theft
A fraud scheme attacking top government officials of Maryland State has been uncovered. The schem...
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International Student Sues Commonwealth Bank for Money Laundering Scam
An Indonesian student and her family sued the Commonwealth Bank as they lost millions of dollars ...
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Rise in Fraud from COVID-19 Bounce Back Loan Scheme
Fraudsters are stealing the money around £400M from taxpayers in the UK through the support loans...
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Japan FSA, Central Bank to Assess FI’s AML, Anti-fraud Measures
Reports have revealed that Japan’s FSA and BOJ are seeking to better understand whether the curre...
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Californian man apprehended in Moorpark ID theft case
A 37-year-old man in the Californian city of Bakersfield was arrested on Wednesday on suspicion o...
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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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China Announces Anti-foreign Sanctions Law
Under the new law, China has introduced countermeasures against senior managers and actual contro...
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BBB Warns About the Potential Scams Fuelled by the COVID Vaccine Passports
As people around the world are increasingly becoming vaccinated, the concern about the vaccine pa...
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