9th September 2020
The UAE rolled out a new smart system named ‘Fawri Tick’ to monitor and curb terrorism financing in the country, the country’s central bank said in a statement on Tuesday. The tool, which is developed by Federal Authority for Nuclear Regulation (FANR), integrates and aggregates various anti-money laundering and counter… Read More
9th September 2020
A scammer has used the Financial Market Authority (FMA) as a cover to steal from people making money transfers to China. A woman stranded in New Zealand during the first Covid-19 lockdown lost a significant amount of money after she tried to transfer funds from China to New Zealand for… Read More
7th September 2020
Visa is being investigated by the European Commission over its rules on electronic money providers, after allegations that the giant payments group has behaved in an anti-competitive way. There are also concerns among regulators that some financial technology start-ups are pushing the rules too far through a desire to offer… Read More
4th September 2020
PayPal has terminated multiple accounts linked to a recently uncovered Russian influence operation that is said to have paid US and British writers for content aimed at influencing progressives and sowing discord in the West, Business Insider has learned. On Tuesday, Facebook announced it was suspending a page linked… Read More
3rd September 2020
The Enforcement Directorate (ED) has arrested notorious “hawala” operator Naresh Jain, who along his accomplices is alleged to have facilitated illegal transactions involving more than ₹95,000 crore in India using over 600 bank accounts. The accused also got transferred about ₹11,500 crore overseas on various pretexts. It is alleged that… Read More
3rd September 2020
The UAE has made it mandatory for Hawala service providers in the country to register, as the country strengthens its anti-money laundering and counter terrorist financing (AML/CFT) framework, the Central Bank said in a statement on Monday. The announcement was made following the sixth meeting of the National Committee for… Read More
2nd September 2020
Chinese authorities are getting more serious about fighting money laundering. Regulators in the country received a wake-up call in 2019 when the international Financial Action Task Force on money laundering highlighted flaws in China’s system. Later that year, several Chinese lawmakers submitted proposals to amend the nation’s 13-year-old anti-money laundering… Read More
1st September 2020
Germany’s blame game over Wirecard AG’s collapse is focusing in on the question of why authorities failed to take a harder look at the payments company before it became the country’s biggest accounting scandal in living memory. Lawmakers will question a top adviser to Chancellor Angela Merkel on Monday… Read More
31st August 2020
The Enforcement Directorate has frozen Rs 46.96 crore in four bank accounts after raiding 15 locations across Delhi, Gurgaon, Mumbai and Pune after some companies were allegedly found running illegal online betting apps linked to China. The chartered accountants of these firms were also raided, the ED said in a… Read More
27th August 2020
Econet Wireless Ltd. is imposing restrictions that limit the size and range of transactions on its mobile-money platform to comply with an order from the Reserve Bank of Zimbabwe. The central bank is seeking to curb foreign-exchange trading in the black market that it blames for weakening the local currency. Read More