Committee Meeting: Efforts to prevent financial fraud cases

Mobile Money Financial Services Industry Oversight Committee held its meeting in Nay Pyi Taw on Thursday. The meeting discussed the measures to prevent fraud cases using mobile money financial services.

Governor of the Central Bank of Myanmar explained the efforts for development of digital payments by laying down the policies and strategies. The committee is also carrying out the educative campaigns on fraud cases while drafting plans to avoid financial losses of the public.

Along with development of technologies, the fraud cases have been committed using these technologies. She stressed the need to lay down the plans to control the financial services based on the recent fraud cases. Attendees from the banks also discussed their findings on fraud cases and obstacles they are facing.

The meeting discussed the need of strong financial supervisory system, promoting awareness activities and ensuring the safety of mobile financial services by the Mobile Network Operators and FinTech Service Providers.