November is fully underway, and budgeting season begins. In order to truly get ahead of 2026, budgets must be allocated accordingly to enhance systems and create operational wins across the board; something valuable compliance tools can achieve with buy-in from the Chief Financial Officer and other key stakeholders. Naturally the discourse around compliance revolves around … Continued
As generative AI technology becomes more sophisticated, cybercriminals are leveraging deepfake technology and AI-powered tools to commit AI identity theft on an unprecedented scale. This comprehensive analysis examines the growing threat of AI-enabled fraud and explores how South Africa and global institutions respond to protect our digital identities. Artificial intelligence’s multifaceted operational and creative uses … Continued
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In 2025, Know Your Customer (KYC) solutions will become critical for banks and financial institutions seeking to strengthen their anti-money laundering (AML) frameworks. Driven by increasing regulatory demands, sophisticated financial crimes and expectations for seamless customer experiences, emerging trends like decentralised identity (DCI) and perpetual KYC (pKYC) are reshaping how financial institutions approach compliance and … Continued
In December 2024, the South African Treasury published the draft AML/CTF Amendment Bill, now open for comment. This bill aims to harmonise five key acts and strengthen commitments to deter non-compliance, which has halted the country’s regulatory status on the world stage since February 2023. Beyond that, this Amendment Bill assists South Africa in preparing … Continued
Due to its innovative capabilities, the financial world has embraced RegTech for the past few years, and adoption is growing. So much so that in 2028, the global market is expected to reach 25.19 billion USD. Much of this can be owed to the compliance burdens still faced by financial institutions. Appeasing strict regulatory watchdogs can … Continued
The interconnected and digital nature of today’s global financial system has amplified the challenges of money laundering and terrorism financing. These constantly evolving threats demand a fundamental shift in our countermeasures, as conventional approaches, based on manual reviews and rigid rule systems, are struggling to keep pace with increasingly sophisticated criminal tactics. This article explores … Continued
In today’s rapidly evolving financial landscape, the sophistication of money laundering schemes has reached unprecedented levels. As Anti-Money Laundering (AML) professionals, we face an ongoing challenge to stay ahead of criminals who constantly adapt their methods to exploit weaknesses in compliance systems. Traditional Know Your Business (KYB) procedures, while foundational, are no longer sufficient to uncover the … Continued
We’re thrilled to have been recognised as a pioneering platform utilising artificial intelligence technology (AI) in Fintech Global’s annual AIFintech100 list for 2024: the premier showcase of powerful AI partners for financial services companies. This year may be the most vital time for Financial Institutions (FIs) to get to grips with AI. Not only is the understanding … Continued
Striking the right balance between providing a seamless customer onboarding experience and ensuring robust compliance measures can be a delicate endeavour. This article explores strategies and best practices for streamlining the KYC/CDD process that can enable businesses to navigate anti-money laundering (AML) regulations while still enhancing the overall customer experience. The Regulatory Landscape: Understanding KYC and CDD … Continued