Customer Due Diligence and Know-Your-Customer Innovation for COVID-19 Recovery

The COVID-19 pandemic is both a challenge to and opportunity for enhancing financial integrity and development. It is a challenge because new risks are emerging and these further compound existing financial integrity risks, especially for jurisdictions, such as Africa, with limited capacity to respond. Despite these challenges, COVID-19 presents opportunities to advance digitisation and encourage the review and innovation on financial integrity (and specifically on KYC and CDD) across jurisdictions. To this effect, FATF released a guidance document on the new risks arising from COVID-19 and the policy responses available to countries as they look to mitigate these risks. 

But how are countries experiencing these risks on the ground and what are the key issues, challenges and opportunities to advance know-your-customer (KYC), customer due diligence (CDD) and digitization in the COVID-19 recovery period?

The webinar will explore the following key issues:

• FATF guidance on risks and regulatory response.
• KYC, CDD, digitization and identity options for COVID-19 recovery (including G2P payments).
• Digitization and limits to digitization for COVID-19 and recovery.

This interactive webinar will draw inputs from financial sector market facilitators, regulators and AML-CFT experts. The panel will include the following key speakers:

• Professor Louis de Koker (International AML-CFT expert and Professor at La Trobe Law School, Australia).
• Barry Cooper (Identity and KYC expert and ex-banker, Cenfri).
• Mariam Jemila Zahari (Financial inclusion expert, Alliance for Financial Inclusion).
• Special inputs from regulators.
• Special inputs from Financial Sector Deepening market facilitators.

Following the webinar, guidance will be developed for African regulators and financial providers to help them practically navigate the COVID-19 recovery period. If you have any questions or inputs that you would like to be addressed during the discussion, send webinar questions to Matthew Ferriera.