The recently published CGAP article (Read here), lists seven risks that should be considered when regulations are established, these are:
- Protecting client funds held as electronically stored value.
- Ensuring safety and reliability of services.
- Reducing opportunities for agent fraud and other harmful conduct.
- Ensuring clear and effective disclosure.
- Protecting clients’ personal information.
- Ensuring clients have knowledge of and access to effective redress and complaint procedures.
- Keeping providers liable for agents’ compliance with regulation.