User:Derek J Moore/sandbox/mama money

Mama Money

Migrant workers use remittances to send money back home. Its only documented migrants can use formal channels to send money home.^[1]Mama money was founded in 2015. They call themselves a "Social Business Money Transfer Operator."^[2] Their vision is to make it possible for African migrants to send money home. They make cross border payments affordable, by lowering the cost. And FICA them with a phone ^[3]

History

Mathieu Coquillon and Raphael Grojnowski formed MamaMoney in 2013^[4]

Criticism and Risks

Money remittance services are both wittingly and unwittingly drawn into money laundering activities.^[5]Simply because of the large volume of funds that are transferred, illicit activity are undetected ^[6]

Reference

| Mama Money

| The story of Mama Money

| International Money Transfers with Mama Money

| FICA with phone

[1] ttps://digitalfrontiersinstitute.org/oh-mama-an-introduction-to-one-of-south-africas-newest-money-transfer-providers/

[2] ttps://family-app-qa.eng.mamamoney.co.za/mamas-story/

[3] ttps://www.itweb.co.za/article/mama-money-simplifies-fica-registration-with-a-selfie/WKBpdg7p6bKqLEew

[4] ttps://ventureburn.com/2021/02/sa-fintech-mama-money-grows-500-during-the-pandemic/

[5] ttps://www.fatf-gafi.org/en/publications/Methodsandtrends/Moneylaunderingthroughmoneyremittanceandcurrencyexchangeproviders.html

[6] ttps://www.gao.gov/products/gao-16-65

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