Kampala — The US government has in its Global Terrorism Index report warned about mobile money services in Uganda as being vulnerable to exploitation by criminals and terrorists to finance illicit activities in and out of the country.
The Department of State in the 2017 country report on terrorism indicated that while Uganda's Anti-Money Laundering (Amendment) Act requires financial institutions to conduct comprehensive customer due diligence, it does not put the same requirements on mobile money transfers.
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