CDSC reveal measures to curb fraudTuesday, August 29th, 2023 08:40 | By John OtiniCDSC reveal measures to curb fraudThe Central Depository and Settlement Corporation (CDSC) has announced stringent measures to enhance customer due diligence protocols, in a bid to cushion investors in the sector. Investors have borne the brunt of these malicious activities, suffering substantial financial setbacks, while the Central Depository Authority (CDA) faces the risk of sanctions due to compromised security measures. It is also a source of significant reputational damage for the market,” said CDSC acting chief executive Jesse Kagoma in a statement. Brokers are also prohibited from initiating any amendment requests in the Central Depository System (CDS) before establishing the request’s authenticity. Dealers must rigorously evaluate and verify the accuracy, thorough verification process serves as an additional layer of security to thwart unauthorized amendments.

Source: Daily Nation August 29, 2023 06:46 UTC