KEY FACT
Global compliance failure fines exceeded US $ 19bn in 2024 alone fintechmagazine. com 75
REGTECH
T H E B U S I N E S S C A S E F O R R E A L- T I M E V I G I L A N C E
Consider this scenario: a corporate customer deemed low-risk during onboarding undergoes a change in beneficial ownership six months later. Under traditional KYC, this shift might not surface for years, creating a compliance blind spot that criminals can exploit.
Research suggests nearly 30 % of African companies experienced material business changes within three years that required enhanced due diligence. For financial institutions operating globally, the scale of potential oversights becomes staggering.
The regulatory response has been swift and expensive. Global fines for compliance failures exceeded US $ 19bn in 2024 alone. But beyond financial penalties, institutions face reputational damage that can take decades to repair.
Perpetual KYC addresses these vulnerabilities through event-driven monitoring. Instead of waiting for scheduled reviews, the system flags changes as they occur – new sanctions listings, adverse media coverage or shifts in corporate structure.
KEY FACT
-30 %
Nearly 30 % of African companies experienced material business changes within 3 years
Global compliance failure fines exceeded US $ 19bn in 2024 alone fintechmagazine. com 75