The holiday season is with us and so is the pressure of spending. During the festive season and similar ones beyond, there are many adverts whether visual, print or thru social media encouraging us to engage in the usual practice of “shopping ‘til we drop” at theRead more →
According to Merriam Dictionary misappropriation is “to appropriate wrongly as by theft or embezzlement.” In non-technical language, misappropriation is to use someone else’s funds or assets in an unauthorized manner. There are many ways to misappropriate funds, but one of the main ones is through Occupational Fraud.Read more →
In today’s technological age, protecting your personal information, whether it is your banking information, name, address, etc. is vitally important. Data privacy or information privacy is a branch of data security concerned with the proper handling of data/information so that third parties cannot have access. More specifically,Read more →
An AML/CFT Independent Audit remains a vital element of any effective Compliance Program for Regulated Financial Institutions. All regulated Financial Institutions and Non-Financial Businesses and Professionals (NFBPs) are required to have at least one (1) annual Audit completed of their AML/CFT Framework and Systems. This must notRead more →
Bitcoin is a digital currency (also called crypto-currency) that is not backed by any country’s Central Bank or Government. Bitcoins can be traded for goods or services with vendors who accept Bitcoins as payment. Bitcointo-Bitcoin transactions are made by digitally exchanging anonymous, heavily encrypted codes across a
Read more →
The World Bank has called for Central Bank regulation of telecommunication companies offering money transfer and mobile banking services — a move that could raise customer charges owing to increased compliance costs. While recognising that mobile technology offers a chance for an estimated three billion low income
Read more →
Many small and medium e-commerce businesses (SMB) are using anti fraud solutions provided by their payment gateways. The most popular payment gateways for the SMB offer very inexpensive services (about $10 -$20 per month) and implement a basic set of filters that include limits of transaction amount,
Read more →
Bitcoin, the world’s most successful digital currency, defies this time-tested classification system: It is neither fiat nor representative. It is not fiat, because its supply is actually finite and, more importantly, it lacks any central backing authority. Nor is it representative, because it is not linked to
Read more →