Compliance at the Core
Compliant solutions for an evolving financial landscape.
Internal Control Processes
Risk Management
Our robust risk management protocols align the standards set by the Financial Intelligence Centre.
Onboarding Controls
Our Software and Technology team has developed the software used to onboard our individuals and institutional clients.
System Oversight
Our experienced Chief Technology Officer oversees the state of our systems and third-party support teams.
Risk Profiling
Our Legal and Compliance team review the documentation provided by clients and complete risk management profiles.
Intelligence Reporting
Our Financial Intelligence reporting is conducted by our Chief Technology Officer and Managing Director who also operate as our Money Laundering Reporting Officers.
Third-Party Providers
Technology and Systems
These third-party screening and anti-money laundering tools form part of our internal client screening and onboarding process:
Masthead is our 3rd party compliance advisors, ensuring that our processes are aligned industry regulations.
Searchworks is employed to conduct sanction list screening, politically exposed person screening, and adverse media searches.
Sumsub is a verification platform that is used at each step of the client onboarding process and assists with monitoring global fraud activity.
CEFFU is an institutional-grade platform that is linked to TRM Labs allowing our clients to safely store and manage their digital assets.
Regulated. Secure. Accountable.
Setting new standards for financial integrity and regulatory compliance.
Licensed by various regulatory authorities in South Africa.
Adherence to global AML and CTF obligations and procedures.
Robust risk management and compliance processes.
Actively combatting illicit financial activity.
Regular training programs to educate employees on AML and CTF.
Open communication with current regulatory bodies.
FAQs
What regulatory licenses does FiveWest hold?
FiveWest is a licensed as a Financial Service Provider (FSP No.: 51619) and Over The Counter Derivatives Provider by the Financial Sector Conduct Authority. In addition, FiveWest holds a mandate from the South African Reserve Bank to facilitate international payments. FiveWest is authorised by the Payments Association of South Africa as a Systems Operator and Third Party Payment Provider and is a credit provider in terms of the National Credit Act.
What measures does FiveWest take to prevent fraudulent activities?
We implement rigorous identity verification, transaction monitoring, and risk assessment procedures to detect and prevent fraudulent activities in accordance with AML and Counter-Terrorism Financing (CTF) laws.
How do FiveWest keep funds safe?
At FiveWest, we have integrated with CEFFU to offer our clients market-leading security coverage over their information and digital assets. With multi-layered encryption and robust authentication mechanisms, our storage solution offers the highest level of protection against cyber threats and market failures.
How can I get started?
Select Create Account, choose between an individual or business account, and complete our simple onboarding process to get started. If you’re in need of assistance, click here to get in contact with our support team.
