Egypt’s FRA, consumer finance firms expand unified database to combat cash monetisation

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Egypt's Financial Regulatory Authority and 48 consumer finance firms have expanded a unified database to combat fraud and cash monetisation. This initiative seeks to enhance trust in the consumer finance sector while proactively detecting potential threats.

Egypt’s Financial Regulatory Authority (FRA) and representatives from 48 consumer finance companies have expanded a unified central database to combat widespread fraud and cash monetisation, aiming to proactively detect threats, reduce financial losses, and protect the interests of beneficiaries. Enhancing trust in the consumer finance sector requires building a solid, participatory database and raising awareness […] The post Egypt’s FRA, consumer finance firms expand unified database to combat cash monetisation first appeared on Dailynewsegypt.