CAC Takes Action Against Fraud: Establishes Center for PoS Operator Registration

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In a bid to combat fraudulent activities in the financial sector, the Corporate Affairs Commission (CAC) has announced the establishment of a dedicated center for the registration of Point of Sale (PoS) operators. 

The move comes amidst growing concerns over the misuse of PoS terminals for illegal transactions. 

According to the directive issued by the CAC, all PoS operators are required to complete their registration by July 7th, 2024.

 Failure to comply with this deadline may result in penalties or legal actions. 

This initiative by the CAC aims to enhance transparency and accountability within the PoS industry, thereby safeguarding the interests of both consumers and businesses. 

With the deadline approaching, PoS operators are urged to expedite the registration process to avoid any disruptions to their operations. 

The establishment of the registration center signifies a proactive step by the CAC in addressing the challenges posed by fraudulent activities in the financial ecosystem, and underscores its commitment to promoting integrity and trust in business transactions.

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