Counter Terrorism Financing (CTF)
Counter Terrorism Financing (CTF) refers to laws, regulations and practices aimed at preventing the funding of terrorist activities. Financial institutions are required to monitor transactions and report suspicious activity as part of their corporate governance and due diligence requirements.
Applications
E-commerce:
Reduces fraud in online card payments by verifying the cardholder's identity
E-commerce:
Reduces fraud in online card payments by verifying the cardholder's identity
Advantages
- Enhanced security: Reduces unauthorised transactions by verifying that the genuine account holder is authorising the payment
- Enhanced security: Reduces unauthorised transactions by verifying that the genuine account holder is authorising the payment
Challenges
- User Experience: Additional authentication steps can cause friction and increase checkout abandonment
- User Experience: Additional authentication steps can cause friction and increase checkout abandonment
