Integrity in mobile phone financial services
Subtitle: measures for mitigating risks of money laundering and terrorist financing
By: Pierre-Laurent Chatain ... [et al.].
Contributors: Chatain, Pierre-Laurent, 1961-; World Bank.
Series: World Bank working paper -- no. 146
Publisher: World Bank
Published: 2008
Place of publication: Washington, D.C
Language: eng
Number of pages: 80
ISBN-13: 9780821375563; 9780821375570
Subjects: Home banking services -- Security measures; Electronic funds transfers -- Security measures; Cellular telephone systems -- Security measures; Commercial crimes -- Prevention
Description: "Sustainable business models are those that base regulation on a careful risk-based analysis. This study identifies the perceived risks and compares them with the actual level of risk for each category of mobile phone financial services. The comparison reveals that the perceptions do not weigh up to the reality. Based on fieldwork in seven locations where the technology has taken off, this paper finds that providers apply measures that are consistent with international standards to combat money laundering and terrorist financing. It identifies the sometimes non-traditional means the industry uses that both mitigate the risks and are in line with good business practices. Acknowledging that mobile phone financial services are no riskier than other channels, governments are called to treat them as an opportunity to expand access to finance."--Jacket.
Notes: Includes bibliographical references.