The 2012 Revised FATF Recommendations: Assessing and Mitigating Mobile Money Integrity Risks Within the New Standards Framework

de Koker, Louis 2013, The 2012 Revised FATF Recommendations: Assessing and Mitigating Mobile Money Integrity Risks Within the New Standards Framework, Washington Journal of Law, Technology & Arts, vol. 8, no. 3, pp. 165-196.

Attached Files
Name Description MIMEType Size Downloads

Title The 2012 Revised FATF Recommendations: Assessing and Mitigating Mobile Money Integrity Risks Within the New Standards Framework
Author(s) de Koker, Louis
Journal name Washington Journal of Law, Technology & Arts
Volume number 8
Issue number 3
Start page 165
End page 196
Total pages 32
Publisher University of Washington, School of Law
Place of publication Seattle, Wash.
Publication date 2013
ISSN 2157-2534
Summary Mobile money holds great financial inclusion promise, but also poses financial integrity challenges. The Financial Action Task Force (FATF)—the intergovernmental global anti-money laundering (AML) and counter-terrorist financing (CTF) standard-setting body—expressed support for financial inclusion and mobile money as a means to decrease the use of non-transparent cash in many developing countries. In February 2012, FATF adopted a new revised set of standards. This Article considers the impact of these new standards on mobile money models in developing countries. It highlights aspects of the new standards that would facilitate innovative mobile money models, but also points to questions and challenges. The new standards are generally more facilitative of new financial services models for the unbanked and underbanked, but a number of key questions and implementation challenges remain. These include mobile money-related privacy and cyber-crime concerns.
Language eng
Field of Research 180105 Commercial and Contract Law
Socio Economic Objective 949999 Law, Politics and Community Services not elsewhere classified
HERDC Research category C2 Other contribution to refereed journal
Persistent URL http://hdl.handle.net/10536/DRO/DU:30060694

Document type: Journal Article
Collections: Faculty of Business and Law
School of Law
Connect to link resolver
 
Link to Related Work
 
Unless expressly stated otherwise, the copyright for items in DRO is owned by the author, with all rights reserved.

Versions
Version Filter Type
Access Statistics: 32 Abstract Views, 2 File Downloads  -  Detailed Statistics
Created: Wed, 19 Feb 2014, 11:07:54 EST by Katrina Fleming

Every reasonable effort has been made to ensure that permission has been obtained for items included in DRO. If you believe that your rights have been infringed by this repository, please contact drosupport@deakin.edu.au.