LEGISLATION AND COMPLIANCE
Regulations, Risk Management Processes and Controls
Risk Management Processes and Controls
We are also a regulated primary accountable institution with the FIC and hold a mandate from the SARB to facilitate international payments.
FiveWest also uses Masthead as their 3rd party advisors to ensure that their FSP compliance processes are up to date and in order. FiveWest and Masthead have a shared folder where all FiveWest's Risk Management and Controls processes can be accessed.
These processes are managed on a daily basis by 5 to 6 staff members.
Although it is not yet necessary for the services we provide, we are in the process of applying for an ODP license with the FSCA
Joshua Hewitson oversees the systems and third party support teams
Compliance and internal controls scoring
FiveWest welcomes regulations to create a level playing field in which we can innovate with confidence. We feel that we can play an intergrel in helping to shape the regulations.
Digital payment token
Domestic money transfer