05824oam 22007335 450 991078215700332120200520144314.01-281-38590-597866113859030-8213-7557-110.1596/978-0-8213-7556-3(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(The World Bank)2008013191(US-djbf)15232004(EXLCZ)99100000000053611320080325d2008 uy 0engurcn|||||||||txtrdacontentcrdamediacrrdacarrierIntegrity in mobile phone financial services : measures for mitigating risks from money laundering and terrorist financing /Pierre-Laurent Chatain ... [and others]Washington, D.C. :World Bank,c2008.xiv, 80 pages illustrations ;26 cmWorld 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 e-Library.Home banking servicesSecurity measuresElectronic funds transfersSecurity measuresCell phone systemsSecurity measuresCommercial crimesPreventionHome banking servicesSecurity measures.Electronic funds transfersSecurity measures.Cell phone systemsSecurity measures.Commercial crimesPrevention.332.1/70684Chatain Pierre-Laurent1961-1472036World Bank.DLCDLCDLCBOOK9910782157003321Integrity in mobile phone financial services3784136UNINA