What is the Financial Action Task Force (FATF)?
Key Takeaways: The Financial Action Task Force (FATF) is an intergovernmental organization that develops and promotes policies to combat money laundering and terrorist financing. It plays a critical role in creating global guidelines for countries to follow in the fight against financial crimes. FATF evaluates countries’ anti-money laundering (AML) and counter-terrorist financing (CFT) measures and provides […]
What Is Customer Due Diligence (CDD)?
Key Takeaways: Customer Due Diligence (CDD) is the process in which financial institutions and businesses verify their customers’ identities and assess potential risks. It involves collecting and analyzing personal and business data to detect suspicious activities and ensure regulatory compliance. The main goal of CDD is to prevent financial crimes, including money laundering, terrorism financing, […]
What Is New Zealand’s Digital Identity Trust Framework?
Globally, there is an increasing emphasis on how we manage and verify our identities across various services. Governments and private sectors are rapidly embracing digital ID systems to enhance security, streamline processes, and provide citizens with greater control over their personal data. These systems play a pivotal role in reducing fraud, improving user experience, and […]
What Is the California Privacy Rights Act (CPRA)?
Key Takeaways: The California Privacy Rights Act (CPRA) expands on the existing CCPA, providing consumers with additional privacy protections and greater control over their personal data. CPRA enhances consumer rights, enabling Californians to limit the use of sensitive personal information, correct inaccurate data, and opt-out of targeted advertising across multiple platforms. By introducing stricter protections […]
What Is POPIA (Protection of Personal Information Act)?
Personal information has become a precious commodity in this age of data-driven decision-making and digital interactions. The internet and the digital revolution have transformed the way we collect, store, and use personal data, creating both opportunities and challenges. As technology increasingly intertwines with our daily lives—whether through online shopping, social media, healthcare, or financial services—it […]
What Is General Data Protection Regulation (GDPR)?
Key Takeaways: The General Data Protection Regulation (GDPR) is an EU law that governs how personal data of individuals is collected, processed, and protected by organizations. Organizations must obtain clear, informed consent from individuals before collecting or processing their personal data. GDPR grants individuals rights such as access, rectification, erasure, and data portability regarding their […]
What Is Counter-Terrorist Financing (CTF)?
Terrorism: A Global Threat and the Rise of CTF There is no doubt that terrorism has wrecked lives, properties, industries, and economies across the globe. In addition to destroying lives and infrastructure, terrorist activities have a profound impact on societies and economies. Terrorism characterizes itself through indiscriminate violence and the use of fear and intimidation […]
2025 IRS Proposed Regulations for Digital Asset Reporting
Introduction: Exploring the Impact of Digital Assets on Global Finance On August 25, 2023, the US Treasury Department and IRS proposed new regulations for digital assets, set to take effect on January 1, 2025. These regulations aim to bring the tax reporting for digital assets in line with that of traditional financial instruments. Under the […]
Know Your Donor (KYD): Customer Due Diligence for Charities
Introduction: Charities and The KYD Approach Charities are a vital part of civil society, helping to bridge gaps in social services and address pressing issues. They are non-profit entities dedicated to improving the well-being of individuals, communities, and the environment. Charities tackle various social problems such as poverty, hunger, homelessness, healthcare, education, disaster relief, animal […]
