The cost of fighting fraud, money laundering, and terror financing is quite high, and the fees are usually passed on to consumers. To reduce costs and support financial inclusion, the parties involved have agreed to apply their skills and expertise into the creation of an open-source transactional monitoring system. This system will support Mojaloop, or any financial switch or payment system, in fighting fraud through the use of Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) measures.
While Sybrin ultimately leads this effort, they are joined by LexTego and the broader Mojaloop community in creating this open-source, state-of-the-art transaction monitoring solution.
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