I think that Western Union have to apply the usual provisions against moneylaundering when accepting the money to be sent to Kenya - there is no difference between sending it to an M-PESA account or sending it to be picked up at a Western Union agent. As far as I remember, you only need the reference number and a password to pick up a Western Union payment - there are usually no controls with the recipient. Also, a limit of around KES35,000 applies per transaction - you'll be sending LOADS of payments before that becomes interesting for professional moneylaunderers :) There are easier ways. On 31 March 2011 15:54, Odhiambo Washington <odhiambo@gmail.com> wrote:
On Thu, Mar 31, 2011 at 12:29, Andrea Bohnstedt < andrea.bohnstedt@ratio-magazine.com> wrote:
Hey all,
Safaricom have entered a co-operation with Western Union so that remittances can be sent straight to M-PESA accounts. I haven't seen the fee structure yet (probably the usual Western Union fees), but still - great to see that Safaricom seem to have cracked the international transfers. Another global first for Kenya, I think.
Here's the press release:
http://www.ratio-magazine.com/201103313887/Corporate-Press-Releases/Kenya-Pr...
This is very interesting.
How will they counter money laundering?
Will central Bank now require Safaricom to submit details of ALL transactions for the purpose of monitoring how much money came in via this medium?
-- Best regards, Odhiambo WASHINGTON, Nairobi,KE +254733744121/+254722743223 _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ Damn!!
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