Article On Using Trusts to Protect Mobile Money Customers
Jonathan Greenacre (University of New South Wales) & Ross P. Buckley (University of New South Wales – Faculty of Law) recently published an article entitled, Using Trusts to Protect Mobile Money Customers,(2014) Singapore Journal of Legal Studies, 59-78. Provided below is an abstract about the article:
Some 1.8 billion people today have a mobile phone and no bank account. Mobile money is the provision of financial service through mobile phones. It offers the substantial potential benefits of financial inclusion to poor people in poor nations. This article explores how trust law can be used to address the key risks these mobile money customers face: bankruptcy of the e-money provider, illiquidity and fraud. Prudential regulation is largely inapplicable because most providers are telecommunications companies not banks. Trusts law is a highly efficacious way to address this regulatory lacuna.
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