Some Worries About Mobile Payments

In an article titled 'Mobile Payments--A Growing Threat', the Bureau of International Narcotics and Law Enforcement Affairs of the US Department of State discusses mobile payments and worries about them saying that 'there are already indications that money launderers and those that finance terrorism will avail themselves of the new m-payment systems.' The article concludes by saying that 'much work and creative thinking will be required to maintain the advantages NPMs ('new payment methods'), including m-payments offer, while at the same time preventing exploitation and misuse by money launderers and terrorist financiers and simultaneously protecting user privacy and the integrity of the global financial systems.'