Tazama represents a significant shift in how financial monitoring and compliance have been approached globally. Until now, the financial industry has grappled with proprietary and often costly solutions that have limited access and adaptability for many, especially in developing economies. This challenge is underscored by the
Global Anti-Scam Alliance, which reported that nearly $1 trillion was lost to online fraud in 2022. Tazama challenges this status quo by providing a powerful, scalable, and cost-effective alternative that democratizes access to advanced financial monitoring tools that can help combat fraud.
Tazama addresses key concerns of government, civil society, end users, industry bodies, and the financial services industry, including fraud detection, AML Compliance, and the cost-effective monitoring of digital financial transactions. The solution's architecture emphasizes data sovereignty, privacy, and transparency, aligning with the priorities of governments worldwide. Hosted by LF Charities, which will support the operation and function of the project, Tazama showcases the scalability and robustness of open source solutions, particularly in critical infrastructure like national payment switches.
