CRIMINALS INFILTRATING AFRICA’S BOOMING MOBILE MONEY INDUSTRY

interpol

A news release from Interpol on 6 July advised that a  new Interpol report has found the billion dollar mobile money industry in Africa is being exploited by organised crime groups – a trend only set to increase as the service is rolled out across the continent – which accounts for nearly half of all registered mobile money accounts globally.. The report presents an overview of the criminal exploitation of mobile money services, including fraud, money laundering, extortion, human trafficking and people smuggling, the illegal wildlife trade and terrorism.  It says that criminals have exploited weaknesses in regulations and identification systems to commit mobile money-enabled crimes. It says that a lack of robust identity checks to verify users combined with a need for greater law enforcement resources and training on mobile money-enabled crimes have created a financial system distinctly vulnerable to criminal infiltration.

https://www.interpol.int/content/download/15457/file/Mobile%20money%20and%20organized%20crime%20in%20Africa.pdf

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If you would like to say thanks by making a small contribution, in case I need to upgrade or replace my computers and other paraphernalia, I have a page at https://www.buymeacoffee.com/KoIvM842y

 

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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