3 Assignments

- Risk of wrong fund transfer recipient

Wrong contact selection. This is where the sender makes a mistake when selecting the recipient and therefore sends money to a wrong person. Fraudulent phone numbers. Where fraud orients send messages requesting for money pretending to a relative of the subject.

- Delay of funds transfer.

Due to reversal time needed. Sometimes it takes longer to be reversed than the money needs to be transferred.

- Loss of funds

Uncooperative wiping recipient. Where the wrong recipient may for example immediately withdraw some money on receiving it. this hardens reversal. Theft cases when one sends money to fraudulent contracts.

- Hacking risks

This occurs where the funds in the process of being transferred over through MPESO are tracked and hacked by hackers and therefore leading to an incomplete transaction.

- Limited network coverage

This leads to the delayed fund's transfers that lead to delay of funds transfer due to hanging transactions.

- Risks of personal information leaking.

The users sometimes may lose personal data, for example, Personal Identification Number that can lead to loss of money through theft where his or her money is withdrawn from his or her account without his or her knowledge of the same.

- Educating the users

This involves enlightening the users on how to make use of the system in sending and on how to withdraw the money when received.

- Immediate action on wrong funds transfer

The users need to take an immediate initiative towards wrong funds transfer to make the reversal process easier and faster by first blocking the money from being withdrawn by the recipient.

- Enactment of punishment measures

This is to make sure that in cases where an individual sends money to the wrong recipient, the recipient does not withdraw the money. Such punishment measures can be like the automatic removal of money from the recipient account without his permission with an additional charge.

- Securing of account sensitive information

This is through educating the users that their personal information is very sensitive as far as their money transfer is concerned. Therefore, they need to be aware of that sensitive information that can compromise their money safe.

- Automatic notification of network failure by the provider.

This is to ensure that can whenever the network is at its downtime and therefore avoid transactions until the network is perfect.

- Enhance the slogan that "your pin is your secret

This is to basically enlighten the users that the personal identification number is very critical as far as account safety is concerned. It is a secret code that should only be known by the user to avoid theft cases and for account safety in general from money loss.