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CIPA set to unveil ‘hidden investor’ database

Pego Aisam. PIC MORERI SEJAKGOMO
Pego Aisam. PIC MORERI SEJAKGOMO

The Companies and Intellectual Property Authority (CIPA) is set to relaunch an upgraded online registration system which will reveal beneficial owners of companies, a key step in the fight against fronting and other corrupt practices.

The Online Business Registration System (OBRS) will be taken down from March 11 to 18, as part of the upgrading to the new system.

Senior CIPA officials told BusinessWeek that besides the eagerly anticipated changes around beneficial owners, the new OBRS will introduce enhanced features aimed at improving transparency, ensuring compliance, and strengthening the fight against financial crimes such as money laundering.

Editor's Comment
Our digital safety is in our hands

That sounds like good news. But the report also warns that this may simply be because our digital economy is still young, not because we are safe. As more people shop, bank and pay online, criminals will follow.We Batswana do not need a report to tell us that danger is real. Many of us have heard of or fallen victim to KYC scams. A caller impersonates your bank or mobile money provider. They say they need to “verify” your account. They ask...

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