A Crucial Process for Financial Institutions Know Your Customer (KYC) is a crucial process for businesses and financial institutions to verify the identity of their customers. It is an essential process in preventing fraud, corruption, money laundering and the financing of terrorism. KYC mitigates the risk of crimes by ensuring that a financial institution knows […]
Dealers in Precious Metals and Stones (DPMS) which are classified as DNFBPs need to pay close attention when it comes to deal with suppliers in precious metals and stones, it is crucial to be aware of potential red flags in order to avoid relationships that can hinder your business. However, identifying these red flags can […]
In the ever-evolving landscape of virtual assets, the need for regulation has become paramount to ensure the integrity, security, and transparency of Virtual Asset Service Providers (VASPs). The Virtual Assets Regulatory Authority (VARA) stands as a cornerstone for the regulation of VASPs in the UAE, providing a framework for compliance that is essential for the […]
In a recent podcast episode by Nephos Group, Gilson Costa shared his expertise on this topic, highlighting the benefits of compliance and regulation for the industry. Here are some key takeaways from his insights: 1. Building Trust and Confidence: Gilson emphasized the importance of compliance and regulation in building trust and confidence among consumers and […]
Advisory Services Activity In today’s fast-evolving digital landscape, the world of virtual assets is expanding rapidly. Virtual Asset Service Providers (VASPs) operating in the United Arab Emirates (UAE) are subject to a complex regulatory framework designed to ensure transparency, security, and investor protection. To help VASPs navigate these regulations, the UAE’s Virtual Asset Regulatory Authority […]
In the fast-paced realm of digital finance and Virtual Assets (VA), where technology is innovation rapidly, VARA stands as a pioneering regulator in shaping the future regulatory landscape of virtual assets. In this article, we’ll take a closer look at how Dubai’s Virtual Asset Regulatory Authority (VARA) is handling this rapidly evolving industry. By examining […]
The Travel Rule has become a crucial aspect of cryptocurrency compliance, especially since the rise of money laundering and terrorist financing activities. To combat these illegal activities, VASPs must share customer information with each other while conducting transactions. To fully understand the importance of the Travel Rule in crypto compliance, VAF Compliance organized a webinar […]
In a recent interview with Khaleej Times, our CEO Gilson Costa, discussed the importance of ensuring digital assets remain legally compliant. In today’s digital age, digital assets have become an integral part of businesses. From cryptocurrencies to digital contracts, digital assets have revolutionized the way we do business. However, with this new technology comes the […]
We are thrilled to announce that for the second year in a row, we have been mentioned as a compliance provider on the Crypto Oasis Ecosystem report, celebrating the significant progress made by our region in embracing Web3, Blockchain, and cryptographic technologies. These transformative technologies are revolutionizing the global economy by creating a more decentralized, […]