Using Trusts to Protect Mobile Money Customers

(2014) Singapore Journal of Legal Studies, 59-78.

UNSW Law Research Paper No. 2015-27

23 Pages Posted: 31 May 2015

See all articles by Jonathan Greenacre

Jonathan Greenacre

Pardee School of Global Studies at Boston University

Ross P. Buckley

University of New South Wales (UNSW) - Faculty of Law

Date Written: May 30, 2015

Abstract

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.

Keywords: mobile money, financial regulation, trust law

Suggested Citation

Greenacre, Jonathan and Buckley, Ross P., Using Trusts to Protect Mobile Money Customers (May 30, 2015). (2014) Singapore Journal of Legal Studies, 59-78., UNSW Law Research Paper No. 2015-27, Available at SSRN: https://ssrn.com/abstract=2612454

Jonathan Greenacre

Pardee School of Global Studies at Boston University ( email )

67 Bay State Road
Boston, MA 02215
United States

Ross P. Buckley (Contact Author)

University of New South Wales (UNSW) - Faculty of Law ( email )

Sydney, New South Wales 2052
Australia

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