Protecting Mobile Money against
            Financial Crimes : Global Policy Challenges and Solutions

Chatain, Pierre-Laurent; Zerzan, Andrew; Noor, Wameek; Dannaoui, Najah; de Koker, Louis

dc.creator	Chatain, Pierre-Laurent
dc.creator	Zerzan, Andrew
dc.creator	Noor, Wameek
dc.creator	Dannaoui, Najah
dc.creator	de Koker, Louis
dc.date	2012-03-19T09:02:52Z
dc.date	2012-03-19T09:02:52Z
dc.date	2011-02-24
dc.date.accessioned	2023-02-17T20:33:45Z
dc.date.available	2023-02-17T20:33:45Z
dc.identifier	http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000333037_20110310000727
dc.identifier	978-0-8213-8669-9
dc.identifier	http://hdl.handle.net/10986/2269
dc.identifier.uri	http://localhost:8080/xmlui/handle/CUHPOERS/242649
dc.description	There has been significant discussion on the potential power of mobile-based technologies to provide unbanked populations with access to financial instruments and channels. Through the specific use of mobile money (m-money) services, for example, customers have accessed informational services, such as balance inquiries in their bank accounts, and transactional services, such as sending remittances to other people or paying for goods and services via their mobile phones. M-money has also been used by national governments to pay employee salaries and benefits. A key objective of this report is to discourage use of informal systems through the creation of a proportionate and not overly burdensome regulatory framework. Overly restrictive identification and verification processes in know-your-customer (KYC) policies, for example, may push users back to the informal financial system. The evolution of m-money in Africa and in non-African, low-income countries means that low-income and low-capacity countries are grappling with ways to ensure compliance with international Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) standards. Thus, this report also provides some indications of how the Financial Action Task Force (FATF) standards can be applied to low-income clients within an m-money context. It does this by presenting various country practices and experiences to enable policy makers to identify the most appropriate solutions for their countries' individual circumstances.
dc.language	English
dc.publisher	World Bank
dc.relation	Directions in Development ; finance
dc.rights	CC BY 3.0 IGO
dc.rights	http://creativecommons.org/licenses/by/3.0/igo
dc.rights	World Bank
dc.subject	ACCESS TO BANKING
dc.subject	ACCESS TO BANKING SERVICES
dc.subject	ACCESS TO FINANCIAL SERVICES
dc.subject	ACCESS TO SAVINGS
dc.subject	ANTI-MONEY LAUNDERING
dc.subject	AUTOMATED TELLER MACHINES
dc.subject	BACKBONE
dc.subject	BACKUPS
dc.subject	BALANCE INQUIRIES
dc.subject	BANK ACCOUNT
dc.subject	BANK ACCOUNTS
dc.subject	BANK FOR INTERNATIONAL SETTLEMENTS
dc.subject	BANK NEGARA MALAYSIA
dc.subject	BANKING MODELS
dc.subject	BANKING SERVICES
dc.subject	BANKING SUPERVISION
dc.subject	BANKRUPTCY
dc.subject	BARRIERS TO ENTRY
dc.subject	BEST PRACTICE
dc.subject	BUSINESS DEVELOPMENT
dc.subject	BUSINESS MODEL
dc.subject	BUSINESS MODELS
dc.subject	BUSINESS RELATIONSHIPS
dc.subject	BUSINESSES
dc.subject	CASH DEPOSIT
dc.subject	CASH DEPOSITS
dc.subject	CASH FLOW
dc.subject	CASH ON HAND
dc.subject	CASH WITHDRAWAL
dc.subject	CELL PHONE
dc.subject	CENTRAL BANKS
dc.subject	CODES OF CONDUCT
dc.subject	COMMERCIAL BANK
dc.subject	COMMERCIAL BANKS
dc.subject	COMMUNICATIONS PLATFORM
dc.subject	COMPLIANCE COSTS
dc.subject	COMPUTER SYSTEM
dc.subject	COMPUTERS
dc.subject	CONSUMER PROTECTION
dc.subject	CONSUMER PROTECTION REGULATIONS
dc.subject	CONVENTIONAL BANKING
dc.subject	COPYRIGHT
dc.subject	COPYRIGHT CLEARANCE
dc.subject	COPYRIGHT CLEARANCE CENTER
dc.subject	CREDITS
dc.subject	DEBIT CARD
dc.subject	DEPOSIT
dc.subject	DEPOSITS
dc.subject	DEVELOPING COUNTRIES
dc.subject	DEVELOPING ECONOMIES
dc.subject	DEVELOPMENT BANK
dc.subject	DOCUMENT REQUIREMENTS
dc.subject	DUE DILIGENCE
dc.subject	E-MAIL
dc.subject	E-MONEY
dc.subject	ECONOMIC DEVELOPMENT
dc.subject	ELECTRONIC MONEY
dc.subject	EMERGING MARKETS
dc.subject	EMPLOYEE
dc.subject	ENABLING ENVIRONMENT
dc.subject	ENFORCEMENT AGENCIES
dc.subject	EQUIPMENT
dc.subject	FINANCIAL ACCESS
dc.subject	FINANCIAL CRISIS
dc.subject	FINANCIAL EXCLUSION
dc.subject	FINANCIAL INFRASTRUCTURE
dc.subject	FINANCIAL INSTITUTION
dc.subject	FINANCIAL INSTITUTIONS
dc.subject	FINANCIAL INSTRUMENTS
dc.subject	FINANCIAL MARKET
dc.subject	FINANCIAL MARKETS
dc.subject	FINANCIAL REGULATION
dc.subject	FINANCIAL SECTOR ASSESSMENT
dc.subject	FINANCIAL SECTOR DEVELOPMENT
dc.subject	FINANCIAL SERVICE
dc.subject	FINANCIAL SERVICE PROVIDERS
dc.subject	FINANCIAL SERVICES
dc.subject	FINANCIAL STABILITY
dc.subject	FINANCIAL SYSTEM
dc.subject	FINANCIAL TRANSACTIONS
dc.subject	FLOW CHART
dc.subject	FLOW OF MONEY
dc.subject	FORMAL BANK
dc.subject	FORMAL FINANCIAL SECTOR
dc.subject	FORMAL FINANCIAL SERVICES
dc.subject	FRAUD
dc.subject	GROSS DOMESTIC PRODUCT
dc.subject	GROWTH POTENTIAL
dc.subject	GROWTH RATES
dc.subject	HOUSEHOLDS
dc.subject	IDENTITY DOCUMENTS
dc.subject	IDENTITY MODULE
dc.subject	INCOME
dc.subject	INFLATION
dc.subject	INNOVATION
dc.subject	INSPECTION
dc.subject	INTERFACE
dc.subject	INTERMEDIARY BANK
dc.subject	INTERNATIONAL BANK
dc.subject	INTERNATIONAL LAW
dc.subject	INTERNATIONAL STANDARDS
dc.subject	INVENTORIES
dc.subject	JOINT VENTURE
dc.subject	JURISDICTIONS
dc.subject	LACK OF ACCESS
dc.subject	LACK OF AWARENESS
dc.subject	LAW ENFORCEMENT
dc.subject	LAWS
dc.subject	LEADERSHIP DEVELOPMENT
dc.subject	LEGAL SYSTEMS
dc.subject	LEGISLATION
dc.subject	LICENSES
dc.subject	LOWER-INCOME CONSUMERS
dc.subject	MARKETING
dc.subject	MATERIAL
dc.subject	MENU
dc.subject	MICROFINANCE
dc.subject	MICROFINANCE INSTITUTIONS
dc.subject	MINISTRIES OF FINANCE
dc.subject	MOBILE COMMUNICATIONS
dc.subject	MOBILE DEVICE
dc.subject	MOBILE NETWORK
dc.subject	MOBILE PHONE
dc.subject	MOBILE PHONES
dc.subject	MOBILE SERVICE
dc.subject	MOBILE TRANSACTION
dc.subject	MOBILE TRANSACTIONS
dc.subject	MONEY MARKETS
dc.subject	MONEY TRANSFER
dc.subject	MONEY TRANSFERS
dc.subject	MULTIMEDIA
dc.subject	NETWORK INFRASTRUCTURE
dc.subject	NEW TECHNOLOGIES
dc.subject	NEXT GENERATION
dc.subject	NONBANK FINANCIAL INSTITUTIONS
dc.subject	NONBANKS
dc.subject	OPEN SYSTEM
dc.subject	OUTREACH
dc.subject	OUTSOURCING
dc.subject	PARTNER BANK
dc.subject	PARTNER BANKS
dc.subject	PAYMENT METHODS
dc.subject	PAYMENT SERVICE
dc.subject	PAYMENT SERVICES
dc.subject	PAYMENT SYSTEM
dc.subject	PAYMENT SYSTEMS
dc.subject	PAYMENT TRANSACTIONS
dc.subject	PDF
dc.subject	PERSONAL INFORMATION
dc.subject	PERSONALLY IDENTIFIABLE INFORMATION
dc.subject	PHONE PENETRATION
dc.subject	PHOTO
dc.subject	PRIVACY
dc.subject	PRIVACY PROTECTIONS
dc.subject	PRIVATE SECTOR
dc.subject	PRIVATE SECTOR BANKS
dc.subject	PRIVATE SECTOR DEVELOPMENT
dc.subject	PRODUCTIVITY
dc.subject	PROFITABILITY
dc.subject	QUERIES
dc.subject	RAPID DEVELOPMENT
dc.subject	RECEIPT
dc.subject	RECEIPTS
dc.subject	REGIONAL BANKS
dc.subject	REGULATORS
dc.subject	REGULATORY APPROACHES
dc.subject	REGULATORY ENVIRONMENT
dc.subject	REGULATORY FRAMEWORK
dc.subject	REGULATORY FRAMEWORKS
dc.subject	REGULATORY REQUIREMENTS
dc.subject	REMITTANCE
dc.subject	REMITTANCES
dc.subject	RESULT
dc.subject	RESULTS
dc.subject	RETAIL OUTLET
dc.subject	RETAIL OUTLETS
dc.subject	RETENTION
dc.subject	RISK FACTORS
dc.subject	RISK MANAGEMENT
dc.subject	RISK MITIGATION
dc.subject	SAVINGS
dc.subject	SAVINGS ACCOUNTS
dc.subject	SAVINGS BANKS
dc.subject	SCHOLARSHIP
dc.subject	SECURITIES
dc.subject	SERVICE PROVIDER
dc.subject	SERVICE PROVIDERS
dc.subject	SMALL BUSINESSES
dc.subject	SMART CARD
dc.subject	SUBSIDIARY
dc.subject	SUPERVISION
dc.subject	SUPERVISORY FRAMEWORK
dc.subject	SUPPORT STAFF
dc.subject	SYSTEM SOFTWARE
dc.subject	TAX
dc.subject	TECHNICAL ASSISTANCE
dc.subject	TECHNICAL ASSISTANCE PROJECTS
dc.subject	TECHNOLOGICAL INNOVATIONS
dc.subject	TELECOM
dc.subject	TELECOMMUNICATION
dc.subject	TELECOMMUNICATIONS
dc.subject	TELECOMMUNICATIONS AUTHORITY
dc.subject	TELECOMMUNICATIONS COMPANY
dc.subject	TELEPHONE
dc.subject	TELEPHONE BANKING
dc.subject	TERRORISM
dc.subject	TRACEABILITY
dc.subject	TRANSACTION
dc.subject	TRANSACTION COSTS
dc.subject	TRANSACTION PROCESSING
dc.subject	TRANSACTION PROCESSOR
dc.subject	TRANSACTION PROCESSORS
dc.subject	TRANSACTIONAL ENVIRONMENT
dc.subject	UNION
dc.subject	UNIQUE IDENTIFIER
dc.subject	USER
dc.subject	USERS
dc.subject	VERIFICATION
dc.subject	VULNERABLE GROUP
dc.title	Protecting Mobile Money against Financial Crimes : Global Policy Challenges and Solutions
dc.type	Publications & Research :: Publication
dc.type	Publications & Research :: Publication