Liberia's FIU orders Lonestar Cell MTN to halt mobile money services

Thursday 10 September 2020 | 13:19 CET | News
The Financial Intelligence Unit (FIU) of Liberia has ordered the Lonestar Cell MTN Mobile Money Services to stop its new product, the International Remittance Service, saying it poses huge threats to countering money laundering and terrorist financing in Liberia, FPA daily reported. In a letter dated 02 September addressed to MTN, with the Central Bank of Liberia copied, the FIU stated that after review of documents sent by Lonestar MTN about the new product, it has come to the conclusion that the company lacks the capacity to detect and report incidence of money laundering and terrorist

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Categories: Mobile & Wireless
Companies: Lonestar / MTN
Countries: Liberia
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