eFX Acquires 49% Stakes in Mountain Money Sdn Bhd
28 October 2021
E-FX Sdn. Bhd. (“EFX”), a wholly-owned subsidiary of Netx Holdings Berhad, had on 28 October 2021 acquired 416,500 ordinary shares in Mountain Money Sdn. Bhd. (“MMSB”), representing 49% equity interest in MMSB, for a total consideration of RM171,500.00 only (“Acquisition”).
MMSB was incorporated in Malaysia as a private limited company. MMSB is a licensed money changer registered under Bank Negara Malaysia. Based on the latest audited financial statements of MMSB as at 31 December 2020, MMSB was recorded a loss after taxation of RM113,377 and net assets of RM748,470.
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eFX Introduces AI-Powered eKYC Solution to Helps Companies Combat Frauds and Money Laundering Activities
11 June 2021
e-FX Sdn. Bhd. or eFX has introduced eFX iD, a Know Your Customer (KYC) and Anti-Money Laundering (AML) automation solution for legal compliance and fraud prevention, that allows companies to satisfy the requirements of the regulatory authorities.
This artificial intelligence powered identity verification platform also can provide compliance team with powerful tools and perform smooth customer onboarding.
To deliver ongoing AML compliance quickly and efficiently, companies such as remittance service providers, e-money issuers, cryptocurrency exchanges, payment service providers and financial institutions should consider implementing rigid eKYC and AML software to cope with their data-related needs. Of course, the solution can be designed in-house but it is wiser and more productive to let the professionals do the job right.
eFX iD adds speed and accuracy to the compliance process and easily scale with a company’s needs while simultaneously adapting to changes in legislation and constantly evolving criminal techniques on an ongoing basis. This is the reason why companies from all over the world choose eFX iD. To learn more about eFX iD, click here.