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Managing the Risk of Fraud in Mobile Money

This paper outlines a framework to managing fraud and risk. The four key elements of that framework are: (i) determine risk appetite; (ii) identify and assess risks; (iii) establish effective controls; and (iv) monitor and review the risk management strategy. In our research, MMU found that operators are aware of the need to develop a robust risk management strategy for mobile money. This paper will highlight some effective practices that operators use to manage the risk of fraud in order to assist mobile money providers as they continue to review and enhance their risk management strategies.

The GSMA represents the interests of mobile operators worldwide, uniting more than 750 operators with over 350 companies in the broader mobile ecosystem, including handset and device makers, software companies, equipment providers and internet companies, as well as organisations in adjacent industry sectors. The GSMA also produces the industry-leading MWC events held annually in Barcelona, Los Angeles and Shanghai, as well as the Mobile 360 Series of regional conferences.

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