AML Go Showcased at MFSA’s Virtual Workshop: Mastering FICA Compliance
Rhea-AI Summary
AML Go, a South African subsidiary of UPAY, showcased its compliance solutions at the MicroFinance South Africa (MFSA) Virtual Workshop on April 16, 2025. The event focused on mastering FICA Compliance and attracted over 380 delegates, including compliance officers and Financial Intelligence Centre representatives.
The workshop covered essential aspects of the Financial Intelligence Centre Act (FICA), featuring:
- Core FICA obligations and legislative updates
- Risk Management and Compliance Programs
- Customer Due Diligence implementation
- Employee screening procedures
During a live demonstration, AML Go showcased its platform's capabilities in automating compliance workflows, performing client screening, and generating audit-friendly reports. The company's presentation highlighted how technology can streamline regulatory processes while maintaining high compliance standards in South Africa's microfinance sector.
Positive
- Showcased AML compliance platform to 380+ industry delegates, demonstrating market reach and product visibility
- Strategic positioning in the growing South African microfinance compliance sector
- Demonstrated automated compliance solutions targeting specific regulatory requirements (FICA)
- Product capabilities include automation of RMCP workflows and comprehensive client screening, showing technological competitiveness
Negative
- No financial metrics or revenue data provided
- No information about market share or customer adoption rates
- Operates in highly regulated market requiring constant compliance updates
JOHANNESBURG, April 29, 2025 (GLOBE NEWSWIRE) -- AML Go (Pty) Ltd (“AML Go”), a South African subsidiary of UPAY Inc. (OTCQB: UPYY) and a leading provider of AML compliance and screening solutions, was honored to be invited to present at the MicroFinance South Africa (MFSA) Virtual Workshop on Mastering FICA Compliance, held on Tuesday, April 16, 2025.
The high-impact virtual workshop brought together more than 380 delegates from across the country, including compliance officers, executives, and representatives from the Financial Intelligence Centre (FIC) and various accountable institutions. Tailored for the credit and microfinance sector, the event delivered practical, high-value insights on navigating South Africa’s Anti-Money Laundering and Counter-Financing of Terrorism (AML/CFT) regulations.
Empowering the Sector with Practical FICA Insights
The MFSA workshop addressed key areas of the Financial Intelligence Centre Act (FICA), equipping professionals with actionable strategies to strengthen institutional compliance. Topics included:
- Core FICA obligations and recent legislative developments
- Effective implementation of Risk Management and Compliance Programs (RMCPs)
- Execution of a Risk-Based Approach and Customer Due Diligence (CDD)
- Employee screening procedures to enhance internal controls
- FIC investigative practices and audit expectations
The comprehensive sessions highlighted the growing need for technology-enabled compliance tools that streamline implementation while maintaining high regulatory standards.
AML Go’s Role and Live Demonstration
During its live session, AML Go demonstrated how its platform empowers accountable institutions—particularly in the microfinance space—to:
- Automate RMCP workflows
- Perform comprehensive client screening and risk profiling
- Generate audit-friendly reports and maintain real-time monitoring
Participants gained hands-on exposure to AML Go’s intelligent compliance engine and witnessed how the solution simplifies complex regulatory processes while reinforcing operational integrity.
Driving Innovation in Financial Compliance
“We’re honored to have participated in this important industry event,” said a spokesperson for AML Go. “Workshops like these play a critical role in ensuring that institutions remain equipped to uphold their compliance responsibilities in an increasingly complex regulatory landscape. AML Go remains committed to supporting the sector with powerful, accessible, and locally relevant tools.”
About AML Go
AML Go (Pty) Ltd provides cutting-edge, automated AML compliance, client screening, credit vetting, and risk management solutions. Serving financial and non-financial sectors across Africa, AML Go enables institutions to meet regulatory obligations while optimizing operational efficiency.
About UPAY
UPAY Inc. is a publicly traded fintech holding company focused on delivering innovative financial software platforms, data intelligence, and compliance automation. Through its portfolio of solutions—including AML GO, HUNTPAL and ACPAS—UPAY helps clients navigate complex financial ecosystems with confidence and precision.
Forward-Looking Statements
This press release contains "forward-looking statements" as defined under applicable securities laws. These statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from those anticipated. The Company does not undertake any obligation to update or revise forward-looking statements because of new information, future events, or other circumstances. No information in this publication should be interpreted as any indication whatsoever of the Company’s future revenues, results of operations, or stock price.
Contact Information
UPAY INC.
Media Relations
info@upaytechnology.com
FAQ
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