Services that allow users to conduct financial transactions using mobile devices, facilitating payments and transfers through dedicated applications or platforms with swift and convenient processing. These solutions often encompass peer-to-peer transfers and retail payments, providing an enhanced user experience.
Main/
Mobile Payment Systems
[]
Code
PS0044
[]
Name
Mobile Payment Systems
[]
Version
1.0
[]
Category
Payment, Transfer & Remittance Services
[]
Created
2025-03-14
[]
Modified
2025-04-02
Related Techniques
- Mules exploit convenient mobile payment tools to receive and forward funds without standard banking scrutiny.
- These non-traditional channels can camouflage transactional patterns and sources.
- Criminals send frequent, nominal transfers via mobile apps to see if the system flags them.
- Using easily accessible mobile devices and multiple SIM cards, they repeatedly test AML thresholds and adapt accordingly.
- Criminals exploit mobile apps that allow swift transfers of funds to gambling platforms or between co-conspirators, supporting collusive chip dumping.
- Frequent, small-value transactions via mobile payment methods can evade scrutiny, while high-volume transfers may be obscured by the platform’s rapid transaction environment.
- Local fixers establish or control multiple mobile payment accounts across regions, routing illicit funds under legitimate payment or peer-to-peer transfers.
- Gaps in KYC or identity verification on certain platforms allow criminals to conceal ownership and rapidly move money across borders.
- Allow swift transfers through smartphone apps, often with simpler onboarding and weak identity checks.
- Lack of face-to-face verification can shield the true user, facilitating unmonitored layering via mobile channels.
- Enable swift peer-to-peer transfers through mobile apps, sometimes lacking robust KYC.
- Frequent, small-value transactions obscure detection, and easy account creation allows criminals to rotate illicit assets quickly.
- Criminals use falsified or stolen identities to open mobile payment accounts, moving illicit funds through numerous low-value transactions.
- Rapid cross-border transfers and inconsistent AML protocols enable layering that obscures the origin of proceeds.
- Criminals promote quick mobile-based transfers among mule recruits, capitalizing on the seamless integration with social media apps.
- Instant transaction features help layer funds swiftly, dispersing them across many accounts before detection.
- The casual environment of mobile transactions often encourages recruits to overlook suspicious details.