With an emphasis on inclusive financial integrity, Cenfri provides technical assistance, tools and skills building to policymakers, regulators, supervisors and compliance heads looking to apply risk-based and outcomes accountable approaches to money laundering, terrorism financing and proliferation-financing risk strategies. Combining our understanding of relevant risks, familiarity with the FATF guidelines, knowledge of identity and identity-proofing capabilities and leveraging our competency in risk data analytics, we support financial service value chains undertake assessments from national level to the financial product level, thereby enabling the adoption of appropriate customer due diligence practices. Cenfri is committed to assisting countries to move off the grey list responsibly, shaping national risk assessment processes with empirical data and working with remittance services’ compliance managers to ensure that low-income households are not disproportionately affected in receiving low-value remittances. We are interested in mitigating the longer-term impact of illicit financial flows using digital technology (regtech, suptech and AI) to evaluate and monitor illicit flows and enhance inclusive financial integrity. We have worked with BankServ Africa, FSD Africa, GIZ, IFAD’s Financing Facility for Remittances, UNCDF and AFI on a range of financial integrity and identity projects. |
Alliance for Financial Inclusion (AFI) in conjunction with Cenfri and supported by FSD Africa are pleased to officially launch the Inclusive Financial Integrity Toolkit. Countries in the sub-Saharan Africa (SSA) region have been on a development curve in setting up effective Anti-Money Laundering (AML) and Combating the Financing of Terrorism
Innovation opportunities for enhanced remittance access As part of our Remittance Access Ininitative (RAI), Cenfri conducted a regulatory assessment of seven countries (Ghana, Kenya, Morocco, Senegal, South Africa, The Gambia and Uganda) to consider whether the regulatory environment was conducive to innovations around the know-your-customer (KYC) and customer due diligence
This study set out to develop and apply inclusive compliance models in anti-money laundering and combatting the financing of terrorism (AML-CFT) to assist country and institutional stakeholders in achieving inclusive integrity outcomes. An inclusive compliance model is a compliance approach that minimises the cost of compliance while still adequately managing
Guidance for regulators, financial service providers and market facilitators Globally, millions of people are excluded from accessing the formal financial services that meet their needs. This is at least partly due to the way the Financial Action Task Force (FATF) recommendations are implemented by countries, and customers needing to provide
Recent years have seen large scale de-risking and financial exclusion happening in developing countries, particularly those countries that most need capital flows to finance social services, aid and development. Where regional economic hubs are de-risked, it has a profound effect on the developmental outcomes for the hub itself as well
Recent years have seen large scale de-risking and financial exclusion happening in developing countries, particularly those countries that most need capital flows to finance social services, aid and development. Where regional economic hubs are de-risked, it has a profound effect on the developmental outcomes for the hub itself as well
How digitising customer due diligence can strengthen providers during COVID-19 and beyond For the last two decades, financial inclusion practitioners have been addressing the barriers that prevent adults from accessing and using financial services that can improve their livelihoods. One of the major barriers, originally uncovered by FinMark Trust in
Alliance for Financial Inclusion (AFI) in conjunction with Cenfri and supported by FSD Africa are pleased to officially launch the Inclusive Financial Integrity Toolkit. Countries in the sub-Saharan Africa (SSA) region have been on a development curve in setting up effective Anti-Money Laundering (AML) and Combating the Financing of Terrorism
Modern financial crime has evolved significantly over the last few decades. Detecting these global networks of sophisticated crime has become more complicated than solving a thousand-piece puzzle in minutes and with half the pieces missing; humanly impossible. This is the kind of complexity that faces the authorities and institutions at
Illicit financial flows (IFFs) represent some of the worst crimes and are a major contributor to corruption and development challenges across the developing world – particularly in Africa, where IFFs coincide with an absence of substantive economic inclusion. They have been estimated to be as large as USD80 billion annually
According to the World Bank Group’s Identification for Development, 1.1 billion people globally, including women, children and refugees, lack any form of officially recognised identification. This is a significant obstacle to financial inclusion and other development efforts, and the global community is increasingly focused on addressing the problem. For instance, the
