Central banks stress need to clamp down on e-money crime
BASLE, SWITZERLAND -- Central banks are stressing the need to ensure that electronic money -- e-money -- schemes do not broaden the scope for criminal abuse, a survey by the Bank for International Settlements (BIS) shows.
The survey of practices in 82 countries shows that some of the preventative measures insisted on are the maintenance of an audit trail, the ascertaining of the identity of the customer and the restriction of the issue of cards to account holders at the relevant bank.
Laws
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