Mobile money in developing countries:
Financial inclusion and financial integrity
In April 2012 the University of Washington School of Law, Deakin University School of Law, and the United Nations Commission on International Trade Law (UNCITRAL) presented a conference in Seattle entitled Mobile Money in Developing Countries: Financial Inclusion and Financial Integrity.
The conference was organised by Professor Jane Winn of the University of Washington and Professor Louis de Koker of the Deakin School of Law, with the support of the Linden Rhoads Dean's Innovation Fund.
A special conference edition of the Washington Journal of Law, Technology & Arts was published in February 2013 with papers that were delivered at that conference.
The conference provided an early opportunity to analyze the impact of the revised 2012 Financial Action Task Force (FATF) recommendations on mobile money. These recommendations were published in February 2012, and represent the most recent version of global standards for national anti-money laundering (AML), counter-terrorist financing (CTF), and proliferation financing efforts.
The conference focused on the trade-off between financial inclusion as a development strategy and financial integrity as a goal of prudential regulation and law enforcement, with specific reference to mobile money initiatives in developing countries and the new 2012 FATF standards.
Speakers from a variety of organizations and countries participated in the conference, providing theoretical, institutional, and legal insights into the search for effective strategies to pursue financial integrity and financial inclusion policy objectives. Participants included representatives from UNCITRAL, the World Bank-based Consultative Group to Assist the Poor, the Bill & Melinda Gates Foundation, practitioners and academics from various countries. The key note address was delivered by Mr Emery Kobor of the US Department of the Treasury.
To read the papers presented at the conference, please visit Washington Journal of Law, Technology & Arts Publishes Special Mobile Money Issue.