Growing fraud is the top of the list of growing fraud, says SWIFT executive Stacy Rosenthal. But unique risks have to be addressed in unique markets, that’s making standardization and regulatory guidance aimed at fraud prevention next-to impossible. M-Pesa is offered via mobile carriers, which raises all kinds of concerns, especially when funds are transferred to and from U.S. accountholders with users in developing markets. No bank wants to get slapped with a fine for AML violations so bankers are mindful of the security risks.”]
Source: https://www.fraudtoday.io/money-laundering-world-over-a-3365