The Financial Action Task Force has issued revised guidance around virtual assets and warned all countries and private firms follow it in full.
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DFSA took decisive action by finalising eight enforcement cases in 2024 against individuals and firms, underscoring its focus on promoting integrity
DFSA
The Dubai Financial Services Authority (DFSA), the independent regulator of financial services conducted in, and from, the Dubai International Financial Centre (DIFC) has, 2024 year to date, taken eight enforcement actions and issued 24 alerts. These actions targeted individuals and entities that undertook unauthorised financial services activities, misled investors, failed to comply with anti-money laundering obligations, and misled the DFSA or obstructed DFSA investigations – compromising the integrity of the DIFC financial services sector.
FCA finds crypto ownership continues to rise as it delivers plans to regulate crypto
Financial Conduct Authority
Awareness of crypto also rose from 91% to 93%. The average value of crypto held by people increased from £1,595 to £1,842. Respondents told the FCA that information from family and friends was the most common source of information for those who had never bought crypto. Only 1 in 10 people say they did not do any research before buying crypto.
Around a third of people said they believed they could raise a complaint with the FCA if something went wrong and were seeking recourse or financial protection. Currently, crypto remains largely unregulated in the UK and high-risk. If something goes wrong, it is unlikely you will be protected so you should be prepared to lose all your money.
AFP partners with Philippine authorities in combating scam call centres
Australia Federal Police
The AFP is working with Philippine authorities to identify Australian victims of romance scams after more than 250 suspected cyber criminals were arrested in Manila.
Philippine law enforcement agencies executed a search warrant for suspected immigration violations at a scam compound in Pasay City, central Manila, on 3 October, 2024.
Soon after, two AFP members and a Manila based-AFP liaison officer, with relevant local partners, searched the scam compound for intelligence relating to Australian scam victims