Man sitting at desk and checking his domestic bill, he is using a calculatorStakeholders in the financial sector have released a communique that will ensure the blacklisting of criminals in the financial sector. Part of the communiqué stated, “Committee agreed on the need to create effective blacklists of criminals in the financial sector. Many of the proceeds of fraud get converted to crypto currency and the funds trail thus disappears into that space. Fintechs therefore have a critical role to play in the future of financial services. The more you innovate, the more you need to automate the attendant controls and ensure that they are strictly monitored.”

Source: Punch October 24, 2023 13:41 UTC