// FEATURE //
S FINANCIAL AND economic
A crime continue to rise, the UK must take decisive action to enhance business transparency and security. This is according to Umazi, a leader in digital identity and verification solutions, which is calling on policymakers and businesses to prioritise the implementation of digital company IDs to strengthen the UK’ s economic integrity.
The call comes following the publishing of a new whitepaper from the Centre for Finance, Innovation and Technology( CFIT), Fighting Economic Crime Through Enhanced Verification, which highlights a critical solution: digital company identification.
“ Economic crime is costing the UK billions annually, yet we continue to rely on outdated verification methods,” said Cindy van Niekerk, CEO at Umazi.“ A standardised digital company ID will not only enhance security but also streamline business operations, making due diligence and regulatory
// compliance more efficient. Digital identities will also enable businesses to start trading faster and that in turn means revenue generation and the economic growth so lauded by the UK Chancellor, Rachael Reeves MP.
“ Unlike the EU, the UK is behind on the innovation, lacking an effective strategy for – and roadmap to – company ID and it is our belief that if the UK is
ECONOMIC CRIME IS COSTING THE UK BILLIONS ANNUALLY, YET WE CONTINUE TO RELY ON OUTDATED VERIFICATION METHODS.
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