Situation

A central bank in an African country, working to implement a new real-time payments system to increase financial inclusion and digital payment usage in their market. Glenbrook was asked to help the central bank better understand regulatory approaches to fraud risk management, with a particular focus on requirements for licensed financial institutions — both bank and non bank — that participate in payments systems. 

Approach

We conducted a multi-country benchmark study to share various approaches and trends related to fraud risk management. Key countries reviewed included Australia, Brazil, Ghana, India, Nigeria, Tanzania, and the U.S.

Impact

We shared key insights on regulations in the select countries. Notably, all countries reviewed had regulations in place that pertained to institutional risk management practices, though countries showed a range of approaches, focuses, and level of breadth in their regulations. These findings and others were shared with the central bank, who used them to help inform their regulatory strategy.