stc pay to be Headline Sponsor for the 13th Compliance and Anti-Money Laundering Seminar 2022 #LEAP22
RIYADH, February 1st, 2022 – stc pay, the leading digital mobile wallet in Saudi Arabia, was the headline sponsor for the Compliance and Anti-Money Laundering Seminar (CAML) that took place in Riyadh on January 30.
This step was made because stc pay understands the importance of CAML and implements money laundering regulations to increase the company’s awareness and so that consumers see the company as safe.
Participants at CAML discussed a variety of financial fraud topics, including anti-money laundering and anti-financial crimes, which stc pay supports. CAML also tackled issues related to fintech financial crimes, which are currently on the rise. Organized by the Saudi Central Bank (SAMA), Anti-Money Laundering Permanent Committee, and the London Stock Exchange Group, CAML was hosted under the patronage of His Excellency Dr. Fahad Abdullah Almubarak, Governor of SAMA.
CAML was first held in Saudi Arabia in 2008. The event was in response to increasing regulatory pressure and compliance complexity in the wake of the global financial crisis. As of 2020, the global fraud detection and prevention market was valued at SAR 68.4 billion. It is expected to reach SAR182.76 billion by 2026, according to market research firm ReportLinker.
With over 7.5 million users, stc pay provides robust user security, including anti-fraud and anti-money laundering efforts to ensure their users remain safe and protected while using stc pay.
