The Egypt Financial Regulatory Authority announced that the Anti-Fraud Committee at the Egyptian Consumer Finance Federation has completed the first central, unified database of individuals and entities involved in harmful practices such as consumer finance cash-outs and fraud. The database implements a Financial Regulatory Authority board decision requiring the federation to prepare a negative list of those proven to have cashed out consumer finance intended for consumption, and it is electronically linked between companies, service providers and the authority to enable prompt supervisory follow-up. The database is positioned as a reference tool for consumer finance companies and service providers to check parties involved in the activity before entering into dealings, including recruitment, granting finance, or onboarding merchants within approved merchant networks. It covers company employees, merchants and brokers shown to have engaged in harmful practices, and also includes data reflecting a customer’s credit history to support creditworthiness assessment, lending decisions and default risk reduction. Companies feed the database, while the federation’s Anti-Fraud Committee verifies and approves entries; a number of firms have already begun registering violations through the system. The authority also held an expanded workshop for licensed consumer finance companies and service providers to explain operating and data-submission procedures, with participation from functions including IT, risk, anti-fraud and anti-money laundering and counter-terrorist financing. Separately, it continued public warnings against financing or investment solicitations from unlicensed entities, and noted there are 34 licensed consumer finance companies and 12 service providers.
Egypt Financial Regulatory Authority 2025-12-01
Egypt Financial Regulatory Authority establishes electronically linked central database to blacklist consumer finance cash-outs and fraud
The Egypt Financial Regulatory Authority completed a central database by the Anti-Fraud Committee at the Egyptian Consumer Finance Federation, listing individuals and entities involved in harmful practices. This database, electronically linked between companies, service providers, and the authority, aids in supervisory follow-up and supports creditworthiness assessments. Additionally, the authority held a workshop for licensed consumer finance companies to explain data submission procedures and continued issuing warnings against unlicensed entities.