How to Build Trust in Cross-Border Payments Through Compliance Automation
Global remittance flows reached over $860 billion in 2023, indicating rapid industry growth. Maintaining trust in cross-border payments is increasingly challenging due to tighter regulations and fraud risks.
Nigerian fintech lost ₦146 Million initially recovered from fraudsters
Financial institutions reported 11,472 fraud cases in Nigeria in the first quarter of 2024. A fintech in Africa lost ₦146,188,208 ($317,200) of recovered funds due to a fraudulent hack.
The Rise of RegTech: An Overview of Regulatory Technology
Regulatory Technology (RegTech) simplifies and streamlines compliance processes in the financial sector. RegTech solutions include risk management, identity management, compliance, transaction monitoring, and regulatory reporting.
Exclusive: Flutterwave gets court order to recover $24 million lost to unauthorized POS transactions
Flutterwave will contact over 6,000 account holders across 35 banks and financial institutions to recover ₦19 billion ($24 million) that was illegally transferred by POS merchants. The recovery is possible due to a High Court ruling on February 1, which granted Flutterwave a Mareva injunction to rec
OPay faces scrutiny over weak KYC system: impersonation, account tiers raise red flags
OPay has lax registration processes that make its platform vulnerable to fraud. The company allows new users to sign up without proper verification.
