COMMUNITY FUND ME
RISK MANAGEMENT DOCUMENT
This document represents our Risk Management Document addressing the Multiple Risk Scenarios in our Community Fund Me operations in order mitigate ALL potential risks from crime peddlers; and to ensure the safety of Funds of our stakeholders.
Multiple Risk Scenarios:
The social media domain hosts a wide range of comers. We are very much aware of this and are taking several measures in view of the associated Multiple Risk Scenarios. The following risks are anticipated and mitigated:
Mitigating Measures:
In view of the multiple scenarios as stated above, our stakeholders need not worry, as we’ve got them covered. We’ve factored these elements into our design and ensured ‘inbuilt’ measures to mitigate their potential risks.
The following measures will ensure that our stakeholders; particularly our fundraisers and beneficiaries are in safe hands, and that the security of their funds is not undermined:
Know Your Customers’ (KYC):
Our service designs boast of numerous ‘Know Your Customers’ (KYC) questions, which review the profile, identity and operations of both the Fundraisers and the Beneficiaries to ensure that the funds do not fall in wrong hands
Verification Codes:
We have inbuilt verification codes that pop up at various stages of the Fundraising campaign that tackles the issue of impersonation and profile theft.
Profile and Background Checks:
We are committed to numerous background checks of our stakeholders. This is essential, as it enables us to establish their identities. This in turn will help to overcome anti-money laundry (AML) campaigners and other related criminals.
Communication Mode:
Our communication is also provided for in encrypted mode from end to end, thereby providing additional layer of system security to mitigate fraud and breach of profile and identity.
Partners Support:
We have strategic partners that enable us to receive funds from donors on behalf of our beneficiaries, and to seamlessly transmit them to the fundraisers or our beneficiaries as the case may be. This is instrumental in ensuring that the ‘Point of Transfer of Funds’ is not undermined as we transmit to the respective beneficiaries.
Compliance With Legal and Government Legislation:
Our team of Legal and Compliance staff has ensured that all legal and government regulations and legislations are well taken care of, such that no stones are left unturned. In addition, we are proactive in anticipating potential risk scenarios, in the light of national socio-economic dynamics associated with our fundraising business.
