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Wireless

Central Bank of Kenya says mobile-based lenders pose money laundering risk

Monday 15 July 2019 | 12:32 CET | News
The Central Bank of Kenya has warned that mobile phone-based lending firms should be regulated to avoid their use as channels for illegally obtained cash into the financial system, Business Daily reported. Governor Patrick Njoroge in a presentation to parliamentarians pointed out Tala, Branch and Okash as credit-only mobile institutions that could be easily used to launder illicit cash. 

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Categories: Mobile & Wireless
Companies: Visa
Countries: Kenya
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