05729nam 22007094a 450 991045416530332120200520144314.01-281-38590-597866113859030-8213-7557-1(CKB)1000000000536113(EBL)459379(OCoLC)320325275(SSID)ssj0000087651(PQKBManifestationID)11998977(PQKBTitleCode)TC0000087651(PQKBWorkID)10054740(PQKB)11542852(MiAaPQ)EBC459379(Au-PeEL)EBL459379(CaPaEBR)ebr10233400(CaONFJC)MIL138590(EXLCZ)99100000000053611320080325d2008 uy 0engur|n|---|||||txtccrIntegrity in mobile phone financial services[electronic resource] measures for mitigating risks from money laundering and terrorist financing /Pierre-Laurent Chatain ... [et al.]Washington, D.C. World Bankc20081 online resource (98 p.)World Bank working paper ;no. 146Description based upon print version of record.0-8213-7556-3 Includes bibliographical references.Contents; Foreword; Acknowledgments; Abbreviations and Acronyms; Executive Summary.; 1. Introduction; Background; Objective; Scope and Target Audience; Geographical Coverage; Outline; 2. m-FS Growth Potential and Concerns; m-FS Offers Unique Economic Development Potential; Box 1. m-FS Increases Access to Financial Services; m-FS Development Demands a Convergence of Stakeholder Incentives; Figure 1. Convergence of Stakeholders' Incentives Results in m-FS Growth; Perceived ML and TF Risks and the Case for Regulation; Table 1. The Four Identified Risk FactorsMarket Access and the Case for Regulatory BalanceBox 2. Suspicious Activities Using Mobile Phones: The Case of Korea; New Challenges to Old Risk Analysis Methods; 3. Analyzing and Responding to ML and TF Risks: Observations of Applied Practices; New Framework for Risk Analysis; Box 3. Framework for Risk Analysis; Figure 2. Mobile Financial Information Services (m-fINFO); ML and TF Risks Inherent in the Four m-FS Service Categories; Figure 3. Mobile Bank and Securities Accounts (m-BSA); Box 4. Risk-based Determination of Transaction Limits: The Case of KoreaTable 2. Possible ML and TF Risks and Observed Control Measures for m-BSAFigure 4. Mobile Payment Services (m-Payments); Figure 5. Mobile Money Services (m-Money); ML and TF Risks External to m-FS Service Categories; Table 3. Concurrent Use of m-FS; Figure 6. Concurrent Use of m-FS; Box 5. Collaboration through Regulatory Dialogues; Table 4. Observed m-FS Licensing and AML and CFT Compliance Requirements; Box 6. IT Supervisory Core Group at a Central Bank; Observed Mitigation Responses and their Consistency with FATF Recommendations; 4. Applying FATF Recommendations to m-FSBox 7. Guidelines Designed by Financial InstitutionsTable 5. Most Relevant FATF Recommendations for Risk-Based Consideration; Application of AML and CFT Standards to All m-FS Providers; 5. Conclusions and Policy Recommendations; Conclusions; Policy Recommendations and Issues for Consideration; Figure 7. Soaring Market for Mobile Connections and SMS; Appendix A. m-FS Growth; Table 6. Factors Contributing to Growth of m-FS; Table 7. m-fINFO in Visited Jurisdictions; Appendix B. Types of m-FS and m-FS Services Observed in Fieldwork; Table 8. m-BSA in Visited JurisdictionsTable 9. m-Payments in Visited JurisdictionsTable 10. m-Money in Visited Jurisdictions; Appendix C.Mitigation Measures for m-BSA; Box 8. Non-face-to-face Risk Mitigation Responses: The Case of South Africa; Box 9. Customer Profiling Systems for AML and CFT; Table 11. Observed Limits on m-FS Transactions, USD (2007); Box 10. Korean Rules for Detecting m-BSA Suspicious Transactions; Appendix D.Mitigation Measures for m-Money; Appendix E. The Financial Action Task Force (FATF); Appendix F.Overview of m-FS Risk Identification and Mitigation; Glossary; Bibliography; Author BiographiesGovernments are challenged to make an innovation-friendly climate while simultaneously ensuring that business development remain sustainable. Criminal use of the technology-terrorist financing and money laundering-challenges long-run business viability via risk of massive investment flight and public distrust of new players entering the market. 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 rWorld Bank working paper ;no. 146.Home banking servicesSecurity measuresElectronic funds transfersSecurity measuresCell phone systemsSecurity measuresCommercial crimesPreventionElectronic books.Home banking servicesSecurity measures.Electronic funds transfersSecurity measures.Cell phone systemsSecurity measures.Commercial crimesPrevention.332.1/70684Chatain Pierre-Laurent1961-923220World Bank.MiAaPQMiAaPQMiAaPQBOOK9910454165303321Integrity in mobile phone financial services2470842UNINA