The Malaysian Association Certified Fraud Examiners (MACFE) is the Malaysian Chapter of the Association of Certified Fraud Examiners (“ACFE”) which is the world’s largest anti-fraud organization and premier provider of anti-fraud training and education based in Austin, Texas.
Reliable digital ID can make it easier, cheaper, and more secure to identify individuals in the
financial sector. It can also help with transaction monitoring requirements and minimise weaknesses in human control measures. Digital ID assurance frameworks and standards provide a risk-mitigation framework and help the private sector and governments to determine the level of confidence (or assurance) a digital ID system provides. With 1.7 billion unbanked adults worldwide and 26% of them citing lack of documentation as the primary barrier, digital ID offers another important benefit. A robust digital ID can allow individuals without a traditional identification to nonetheless have a sound form of identification to access financial services and improve financial inclusion. – FATF GUIDANCE ON DIGITAL IDENTITY