Telcos should be treated like banks to help reduce MoMo fraud - Cyber security expert

Telcos should be treated like banks to help reduce MoMo fraud - Cyber security expert

- A police man at the CID headquarters of the Ghana Police Service has called on telecos to be treated like banks

- According to him since these telcos are performing the function of banks, there is the need to regulate them

- This he said will help reduce the increasing cases of mobile money fraud

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Mobile Money fraud has become very rife these days as most Ghanaians have grown to like how easy it is to move funds across networks.

Some unscrupulous persons have taken advantage of that to the fact that people readily have money in their wallets to scam them of it.

Speaking in an interview with on the sidelines of the Cybersecurity workshop at the ongoing National Cybersecurity awareness month, ACP Dr. Herbert G. Yankson of the Criminal Investigation Department (CID) of the Ghana Police Service has cautioned the public against the activities of Mobile Money fraudster.

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Telcos should be treated like banks to help reduce MoMo fraud - Cyber security expert
Telcos should be treated like banks to help reduce MoMo fraud - Cyber security expert Source:
Source: UGC

According to him, him telecommunication networks should be treated like banks since they are basically doing what the banks are supposed to be doing.

He stated that the use of very detailed identification cards should be adopted by mobile money operators to help track down any wrong that goes on.

He added that the regulators of the BoG should regulate telcos as they undertake the mobile money vending.

According to the police officer, due to his area of specialty, it is easy to get information from telcos when any case of cyber fraud especially MoMo fraud is reported.

He however called on individuals to be very vigilant when undertaking mobile money transactions and also their daily conversations as that could give out sensitive information.

He added that, when paying money, individuals should be sure of the recipient of the money so as not to commit a blunder.

ACP Dr. Yankson advised people to do well to report any case of mobile money fraud to the police and the telecom companies to help track the criminals down.

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In other news, Dr. Ernest Addison, Bank of Ghana's governor, has indicated that the financial outfit would resort to the use of helicopters to transport cash to banks around the country due to recent rampant hits on bullion vans.

While speaking at the Monetary Policy Committee presser in Accra on Monday September 28, 2020, Dr Addison said the move was one of the considerations being looked at following attacks on money vans.

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Priscilla Aklorbortu avatar

Priscilla Aklorbortu Priscilla believes the job is the job and must be done well. Priscilla worked as a journalist at the Daily Graphic.

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