Managing the Risk of Fraud in Mobile Money

Categories : Cybersecurity, Regulation of Digital Financial Services


Author: GSMA

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.