Significant advancements have been made in South Africa’s framework for combating the financing of terrorism (CFT) and anti-money laundering (AML) more than a year after the country was placed on
In high-risk areas, achieving compliance is even more crucial, and it should include the five AML compliance pillars that ensure efficacy.
In the digitised world of business, the traditional model of customer onboarding, characterised by in-person meetings and lengthy paperwork, is rapidly being replaced by remote onboarding.
Due to the nature of cryptocurrency being both decentralised and anonymous, this makes virtual currencies susceptible to fraud. For cryptocurrency businesses, this entails both financial and reputational threats.
During 2023, many regulatory bodies have taken note of the rapidly growing virtual asset industry and have realised the potential impact that this industry has on the already established markets
Organisations face a huge problem in adapting their identity verification processes to maximise their customer acquisition whilst also mitigating their costs and meeting the evolving regulations, fraud threats and customer
