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Creditinfo Brings Global Fraud and Identity Solution to Uganda to Strengthen AML and Financial Crime Defences

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WHY THIS MATTERS

As digital financial services expand across Africa, financial institutions are facing a growing need to strengthen identity verification, fraud prevention and anti-money laundering (AML) controls. Uganda’s progress in strengthening its regulatory framework—including its removal from the FATF increased monitoring list—signals stronger compliance standards, but the rapid growth of digital payments and online financial services also introduces new vulnerabilities. Identity fraud, mule accounts and authorised push payment scams are becoming more common as criminals exploit digital onboarding processes and cross-border financial networks.

Creditinfo, a global service provider for credit information and risk management solutions, has announced the rollout of its identity, know your customer (KYC) and fraud and ID solution in Uganda. The move supports organisations in the country as they work to strengthen financial crime prevention at a time of rapid digital growth and evolving fraud risk.  

Uganda has made significant progress in recent years in strengthening its anti-money laundering (AML) framework, most notably through its removal from Financial Action Task Force (FATF) increased monitoring. But as the country’s digital payments landscape continues to expand, organisations confront a new and more complex set of fraud threats. These require robust tools to manage risk without compromising the customer experience.  

Creditinfo’s solution enables organisations to address this challenge by drawing on credit bureau data, government information services and other registries to establish trust in presented identities. The platform combines identity proofing, digital risk signals and international and domestic watchlists to support strong KYC compliance and reduce exposure to fraudulent activity during onboarding and origination. 

The Uganda rollout follows the successful deployment of the solution in Kenya in 2025, and forms part of Creditinfo’s broader global programme to improve financial stability, close AML gaps and support the development of secure digital economies. The Ugandan version of the platform has been tailored to the specific needs and risk profile of the local market. 

Since the solution’s initial launch, Creditinfo has expanded its capabilities to enable organisations to tackle an evolving range of financial crime threats. In addition to onboarding and origination controls, the platform now includes transaction monitoring capabilities that allow institutions to detect suspicious account activity and identify behaviours associated with mule accounts. It can also flag authorised push payment (APP) fraud linked to scams and surface unusual transactions within wider AML monitoring frameworks. 

The solution also strengthens account protection by detecting and preventing account takeover and application fraud. This is made possible through advanced device intelligence and a global identity network drawing on more than two billion device data points, giving organisations the ability to identify suspicious patterns and build more resilient defences against emerging threats.  

Rob Meakin, Director of Fraud and Identity at Creditinfo, said: “The rapid growth of digital financial services creates real opportunities for economic development, but it also increases exposure to sophisticated financial crime. By bringing our fraud and identity solution to Uganda, we are helping organisations strengthen their ability to identify risk, maintain compliance and protect their customers, while still enabling secure and seamless access to financial services.”  

Mark Mwanje, Managing Director at Creditinfo Uganda, said: “In Uganda’s fast-growing digital economy, businesses need tools that protect them from fraud without making life harder for customers. Our platform helps banks and other institutions cut down on fraud, make it easier for people to open accounts, and promote financial inclusion, while still meeting strict anti–money laundering rules required in Uganda.” 

FF NEWS TAKE
As digital finance adoption accelerates across emerging markets, identity verification and fraud prevention are becoming foundational infrastructure.

Creditinfo’s expansion into Uganda highlights the growing demand for integrated KYC, identity and transaction monitoring solutions that can protect financial institutions without slowing down financial inclusion. For rapidly digitising economies, balancing security, compliance and accessibility will be critical to sustaining trust in the financial system as digital payments and online banking continue to grow.

SEC’s advisory group backs tokenized securities push, outlines how to keep it safe

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A committee that advises the U.S. Securities and Exchange Commission recommended the agency move forward on a tokenized-securities policy that would allow traders to cut out the kind of go-between settlement that Wall Street investment firms have relied on for decades.

The SEC’s Investor Advisory Committee voted Thursday to recommend narrow exemptions for the blockchain-based innovation for the trading of stocks, as long as the activity comes with mandatory disclosures, routine outside supervision and “a requirement that the trading of tokenized equity securities seeks to ensure that all investors receive the best terms for their orders.”

These crypto assets still meet the definition of securities under the law, as SEC Chairman Paul Atkins has regularly contended, which means the activity needs parallel safeguards to the traditional system. Atkins said his agency is working toward formal regulations on tokenization. Now this work has the backing of an official recommendation from the committee, whose members include veterans from major trading firms, institutional investors and academics.

The traditional approach to stock trading features brokers, transfer agents and centralized settlement databases and can take a day or more to execute, but in placing that same stock on-chain, “the delivery of the tokenized security and the payment can happen as a single transaction, with ownership records embedded directly into a single blockchain.”

The group told the commission that the newer approach doesn’t come without risks:

“The most significant risk associated with the tokenization of equity securities is that these reforms or grants of exemptive relief could introduce new risks that investors do not understand and impose higher costs that outweigh the benefits of tokenization,” according to the recommendation document approved by the committee.

In remarks on Thursday, Atkins praised the committee for its “recognition that tokenization can enhance settlement efficiency, reduce settlement risk, and eliminate unnecessary intermediaries.

“I expect the Commission to soon consider an innovation exemption to facilitate limited trading of certain tokenized securities with an eye toward developing a long-term regulatory framework,” he said.

Hester Peirce Calls For Simpler Disclosure Rules, Tokenization Experiments

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US Securities and Exchange Commission (SEC) Commissioner Hester Peirce said regulators should avoid micromanaging markets and consider simplifying disclosure requirements as discussions around tokenized securities continue.

Peirce, often referred to as “Crypto Mom” for her generally supportive stance toward the digital asset industry, made the remarks Thursday during a speech to the SEC’s Investor Advisory Committee, warning that overly prescriptive rules can distort how capital flows through financial markets.

Citing Adam Smith, the 18th-century economist widely regarded as the father of modern economics, Peirce argued that regulators should exercise restraint when shaping market outcomes.

Source: Hester Peirce

She said public companies often spend excessive time preparing mandated disclosures that may obscure rather than clarify information for investors, suggesting the SEC should consider streamlining disclosure rules.

Although the speech addressed broader regulatory issues, Peirce also pointed to the growing debate around tokenized securities and blockchain-based financial infrastructure.

She noted that SEC staff continue to work on a potential “innovation exemption” that could allow limited experimentation with tokenized securities while regulators assess how existing securities laws apply to blockchain-based markets.

Peirce also questioned whether additional disclosure and intermediary requirements would be necessary for tokenized securities, noting that blockchain systems could enable faster settlement and, in some cases, transactions without traditional intermediaries.

Related: Can US lawmakers pass crypto market structure before the midterms?

Tokenization gains traction at SEC

Tokenized securities have become an increasingly prominent topic for the SEC. Chair Paul Atkins said last year that he views tokenization as a major financial “innovation” that regulators should encourage rather than constrain.

The agency took a step in that direction in December, when it issued a no-action letter to the Depository Trust & Clearing Corporation (DTCC) allowing the market infrastructure provider to explore a blockchain-based tokenization service for securities.

The letter effectively signaled that the regulator would not recommend enforcement action if DTCC proceeded with certain tokenization-related activities, opening the door for the company to develop infrastructure to support blockchain-based settlement of traditional securities.

Source: Cointelegraph

The regulatory discussions around tokenization are also unfolding alongside broader policy debates in Washington over crypto market-structure legislation, which could eventually shape how digital assets are overseen in the United States.

Related: SEC chair calls for ‘coordinated oversight‘ between US regulators