NBFIRA Highlights Governance, Emerging Risks and Regulatory Excellence at BIBF Conference 2026

The Authority also contributed to discussions on strengthening governance, managing emerging risks and promoting regulatory excellence at the BIBF Compliance & Governance Conference 2026.

Dikatso Moteu, Senior Analyst and Lorato Moses, Analyst, in the AML/CFT Department, led a presentation session titled “Governance in a Changing Risk Landscape: NBFIRA’s Perspective on Innovation, Conduct and Regulatory Excellence.”

The presentation highlighted the importance of effective governance, clear accountability and strong internal controls in safeguarding financial institutions and maintaining public confidence. The session also examined the evolving risks facing the non-bank financial sector amid rapid digital transformation, increasing technological adoption and heightened regulatory expectations.

Lorato Moses highlighted the critical role of board and senior management oversight in ensuring effective governance and AML/CFT compliance. She emphasised that accountability must be clearly defined across institutions, with appropriate resources, effective reporting structures and timely corrective action to address identified weaknesses.

Dikatso Moteu explored the opportunities and risks associated with emerging technologies, including digital onboarding, cloud computing, mobile financial services and virtual assets. While these technologies can improve efficiency, accessibility and customer due diligence, they also introduce risks relating to cybersecurity, identity fraud, data protection, consumer conduct and cross-border financial crime.

The session further emphasised the importance of a risk-based approach to AML/CFT compliance encouraging institutions to assess risks before introducing new technologies, implement proportionate controls and continuously adapt their frameworks in response to emerging threats and supervisory findings.

Participants were also reminded that effective governance extends beyond having policies and procedures in place. It requires active oversight, clear ownership of risks, effective implementation of controls and demonstrable action to address weaknesses.

Through this engagement, NBFIRA reaffirmed its commitment to strengthening AML/CFT compliance, promoting responsible innovation and fostering a culture of accountability across the non-bank financial services sector.