Protecting Mobile Money against Financial Crimes

Two and a half billion people in the world live on less than $2 a day, and 90 percent have no access to savings accounts and other financial services. As a consequence, they tend to resort to risky, expensive, and inefficient ways to conclude financial transactions. Formal financial inclusion has a strong positive impact on development. Research suggests that poor households with access to formal financial services are more likely to invest in education, increase productivity and income, and reduce vulnerability to illness and other unexpected events.