Watch out for mobile money risks

Image Source: Article

Image Source: Article

While not necessarily intending to dump cold water on the plans of any bank to institute mobile financial services—or on those already offering them—the recently published Appendix E to the FFIEC Information Technology Examination Handbook certainly should give bank leaders pause.

The new section focuses on the risks associated with mobile financial services and emphasizes an enterprise-wide risk management approach to effectively managing and mitigating those risks.

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