Tag: Money Laundering
BoG suspends CBG’s forex trading license
The Bank of Ghana (BoG) has suspended the Foreign Exchange Trading Licence of Consolidated Bank Ghana (CBG) for a period of one month due...
Ghanaian arrested in Turkey over moves to transfer $1 billion of...
TURKISH security forces have successfully intercepted a significant counterfeit money operation in Istanbul, resulting in the seizure of $1bn worth of fake currency and...
Paytm Business Bank Penalized for Money Laundering; Faces Regulatory Scrutiny
Indian regulator Financial Intelligence Unit has imposed a fine of 55 million rupees (approximately $663,000) on Paytm’s banking business over money laundering allegations.
The penalty...
Binance Founder Changpeng Zhao steps down, pleads guilty to violating anti-money...
Zhao Changpeng, the chief executive of Binance, the largest global cryptocurrency exchange, stepped down and pleaded guilty to violating criminal U.S. anti-money-laundering requirements, in...
Social Media Handle made mandatory KYC requirement for bank customers in...
The Central Bank of Nigeria (CBN) has introduced a new regulation that mandates all regulated financial institutions to collect and verify customers’ social media handles...
Hajia4Reall Arrest: Ghanaian investment partners could be in trouble – Expert
Fraud and Security Consultant Richard Kumadoe has said that any investment interest directly or indirectly linked to the embattled romance fraud suspect Mona Montrage...
Cross-border transfer fraud – BoG, EOCO investigate
Recent developments have brought to the forefront a series of card fraud schemes that have left unsuspecting customers grappling with unauthorized money transfers and...
Renaizance Oil MD guilty of defrauding Misyl Energy of GH₵‎27.9m
David Aseye Tay, Renaizance Oil MD, an unlicensed Oil Marketing Company has been found guilty and convicted for defrauding Nick Danso Adjei, Chairman of...
Flutterwave’s troubles in Kenya yet to end as second case proceeds
Africa’s most valuable unicorn Flutterwave is still not off the hook in Kenya. About $3 million of its money that was confiscated in the...
Flutterwave set for ambitious expansion in Kenya following clearance from all...
Flutterwave, Africa’s biggest fintech has welcomed the withdrawal of claims against the company by the Asset Recovery Agency (ARA) in July 2022 and looks...