F8.8 Set redress mechanisms and other consumer protection tools for failed/fraudulent transactions

Principle

F8 Ensure effective remedy and redress

Risks

RS4 Lack of recourse, SV3 Weak rule of law

Life Cycle Stages

L2 - Strategy and Design

Practices

• Use guidelines (such as Gates' Foundation Level One Project to enhance financial service protections or Tazama’s user-friendly dispute resolution platforms) to track and resolve issues efficiently.

• Regularly update these mechanisms based on user feedback and emerging threats.

Bill and Melinda Gates Foundation (2019). Level One Project Guide