Financial crime risks in mobile money services

Financial inclusion, described as the ability to deliver financial products and services in an accountable and maintainable way that encounters the demands and needs of the customers in an affordable and useful manner and allowing for timeless access, is held in high regard by the World Bank, which has acknowledged it as “the key enabler to reducing poverty and boosting prosperity”.

The recognition and the need for financial inclusion has therefore led to an increase in the demand to market and reach out to the unbanked customers.