Safaricom Flags Money Laundering on M-PESA Through Betting Platforms
Safaricom, Kenya’s leading telecommunications company, has identified instances of money laundering connected to betting companies operating on its M-PESA mobile money platform. This discovery was made possible through the implementation of advanced artificial intelligence tools designed to monitor and detect suspicious transactions.
Enhanced AML System Uncovers Illicit Activity
According to Safaricom’s 2025 Sustainability Report, the company’s enhanced anti-money laundering (AML) system successfully “detected money laundering through betting platforms” and also “flagged suspicious international money transfers.” The telco emphasized its commitment to combating financial crimes by deploying “real-time monitoring, machine-learning detection systems, and sanctions screening to identify suspicious activities.” They also reiterated that “Compliance with Ultimate Beneficial Ownership verification and regulatory reporting requirements remains a priority.” This move highlights the increasing vigilance of African tech companies in safeguarding their platforms against illegal financial activities, especially amidst the burgeoning mobile money sector.
These findings arrive as Kenya’s betting industry experiences significant expansion, fueled by the popularity of sports among young people and the widespread adoption of mobile payment solutions. Estimates suggest that Kenyan gamblers spend over KES 350 billion ($2.7 billion) annually, with more than KES 160 billion ($1.2 billion) channeled through M-PESA and other mobile platforms. Safaricom’s proactive measures are crucial in ensuring the integrity and security of its M-PESA system in the face of these growing financial flows.
Keywords
Related Keywords: Safaricom, money laundering, MPesa, mobile money, Kenya, financial crime, fraud prevention, regulatory compliance, antimoney laundering
