0
Wireless

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

Thank you for visiting Telecompaper

Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.

Subscriptions

Already registered?



Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Categories: Mobile & Wireless
Companies: Lonestar / MTN
Countries: Liberia
::: add a comment

Add comment

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


Related

Lonestar Cell MTN partners with Sendwave for remittances from US

Published 21 Sep 2020 13:23 CET | Liberia
Lonestar Cell MTN has partnered with Sendwave to make it possible to receive remittances from the US straight to their Mobile ...

Lonestar Cell MTN Mobile Money partners with WorldRemit on remittances

Published 14 Sep 2020 12:59 CET | Liberia
Liberian operator Lonestar Cell MTN has partnered with WorldRemit to make it possible for Mobile Money customers to receive ...

Lonestar Cell MTN mobile money reinstates international remittance service

Published 14 Sep 2020 10:31 CET | Liberia
Liberian operator Lonestar Cell MTN said it has reinstated its international remittance service after the country's Financial ...

MTN Liberia ties up with Ecobank on money transfer service

Published 17 Aug 2020 12:28 CET | Liberia
MTN Liberia has announced that Ecobank Liberia customers can now transfer money from their bank accounts directly to their Mobile ...

Orange, Lonestar Cell MTN reinstate mobile money fees in Liberia

Published 22 Jun 2020 12:44 CET | Liberia
Liberian operators Orange and Lonestar Cell MTN have reinstated mobile money fees as Covid-19 outbreak restrictions ease out. The ...

Lonestar Cell MTN ties up with United Bank for Africa to offer mobile money

Published 10 Feb 2020 10:24 CET | Liberia
Lonestar Cell MTN has tied up with United Bank for Africa Liberia to offer the Push and Pull mobile money service. UBA customers ...

MTN Group launches remittances app

Published 03 Dec 2019 11:05 CET | Africa
MTN Group has announced the launch of its a remittances app dubbed MTN Homeland. The mobile app aims to facilitate money and ...

Lonestar Cell MTN launches first mobile betting platform

Published 15 Oct 2019 10:45 CET | Liberia
Lonestar Cell MTN has formed a partnership with Winner's Incorporated to launch the first ever Mobile Money (MoMo) betting ...





Calendar   /   Industry Events

30 Nov Zoom Video Communications Q3 2020
30 Nov NexTV Series MENA
01 Dec Hewlett Packard Enterprise fiscal Q4
01 Dec 5G Italy
01 Dec NGON & DCI World
02 Dec FTTH Conference
02 Dec Microsoft AGM
02 Dec Telia EGM
03 Dec Marvell Technology fiscal Q3
03 Dec GCX fiscal Q2
03 Dec Liberty Latin America AGM
06 Dec Gitex Technology Week
07 Dec SIPNOC 2020
07 Dec ECOC Exhibition
::: More Calendar Items