Partner Initiatives in Fraud Mitigation
The fraud mitigation principles will add to the body of work contributed by multiple global and local partners, including NGOs, providers, regulators, and others, toward IIPS ecosystem fraud risk mitigation. Illustrative initiatives are highlighted below.
GSMA Certification
The GSMA Mobile Money Certification is a global initiative to bring safer, more transparent, and more resilient financial services to millions of mobile money users around the world. It is based on independent assessments of a provider’s ability to deliver secure and reliable services, to protect the rights of consumers, and to combat money laundering and the financing of terrorism.
Better Than Cash Alliance
UN Principles for Responsible Digital Payments
World Bank
Financial consumer protection encompasses the laws, regulations, and institutional arrangements that safeguard consumers in the financial marketplace. World Bank offers resources that include technical guidance, country reports, and tools for policymakers, regulators, development partners, and other experts.
Collaborative efforts between global and local partners are crucial to combat digital financial services fraud. Their combined and unique expertise ensures comprehensive strategies, regulatory alignment, and shared intelligence that leads to sustaining trust in digital financial services while reinforcing safeguards against evolving threats.
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