Mobile Money Advocacy Group Backs MTN After Customer Loses GH¢11K to Momo Fraud: "Let's Be Fair"
- The Mobile Money Advocacy Group Ghana has defended MTN Ghana after a customer was reportedly scammed out of GH¢ 11K
- Edward Ofori Agyeman, the president of the association, called for calm from the public in exclusive comments to YEN.com.gh
- MTN denied being at fault in the matter and advised Mobile Money users to refrain from sharing their PINs with third parties
PAY ATTENTION: NOW You can COMMENT on our articles on the YEN website! Learn how to get started.
The Mobile Money Advocacy Group Ghana has called for calm amid reports that an MTN Ghana customer was scammed out of a reported GH¢11,000.
In comments to YEN.com.gh, Edward Ofori Agyemang, the president of the Mobile Money Advocacy Group Ghana, cautioned against insulting MTN.
Source: Getty Images
MTN has faced criticism after the customer, a woman, initially complained in a viral video on April 12 that the GH¢11,000 was withdrawn from her mobile wallet without her consent.
Agyemang noted that the woman mentioned that she had called MTN, and they had withheld the money.
"She should wait for 15 working days; that means the money is not lost," he remarked.
He also noted that customers might unknowingly play a part in losing money from their mobile money accounts.
Agyemang stressed that under no circumstances could money just be withdrawn from a wallet without a valid PIN.
"So, if the mistake happens, please always let's be fair and say exactly what happened between you and the money that got withdrawn from your wallet."
"If MoMo wasn't safe, I don't think our regulators, BOG, would have even approved MTN to venture into it, knowing very well that it is not safe for public consumption. If this MoMo wasn't safe, the vendors would have been the most affected in this business."
MTN's response to MoMo fraud complaints
MobileMoney Limited, the operator of MTN Ghana's mobile money service, refuted fears of a system breach after the incident
The woman who lost the GH¢11,000 also accused MTN Ghana of failing to safeguard user funds.
Source: TikTok
In a response on April 15, MTN Ghana said its internal investigations found no evidence of a technical breach.
Rather, the company pointed to social engineering - a common fraud tactic - as the likely cause.
“Our findings suggest that this was a case of social engineering, where a person unknowingly shares sensitive information - such as a One-Time Password (OTP), verification link, or PIN - with fraudsters.”
MTN further urged its users to be vigilant and avoid sharing PINs, OTPs and other sensitive information with other persons.
Sam George summons MTN MoMo, others
The Minister for Communications and Digitalisation, Sam George, told Joy News that he has summoned Electronic Money Issuers (EMIs) for an urgent meeting following a perceived surge in mobile money fraud across the country.
George described the trend as deeply concerning and assured the public of swift government intervention.
“The surge in mobile money fraud is unacceptable. I have summoned all EMIs to a meeting this week to demand answers and clear strategies to protect consumers. The meeting was initially scheduled for Thursday, but they’ve pleaded for it to be postponed until after the Easter break."
“The meeting will focus on accountability, user protection measures, and the enforcement of digital security standards among service providers."
George assured that the government will not sit idle while Ghanaians continue to fall victim to digital fraudsters.
He further warned that platforms that fail to implement adequate safeguards for their users.
“There will be consequences for platforms that are not doing enough to safeguard the funds of their users."
The minister also hinted at potential regulatory changes aimed at tightening oversight within the digital payment ecosystem.
MoMo agents get increased commissions
YEN.com.gh also previously reported that mobile money agents saw increased commissions on large transactions from March 2024.
The vendors now made 0.4% on transactions up to GH¢2,000 compared to a flat fee of GH¢4 on transactions between GH¢1,000 and GH¢2,000.
The maximum commissions were raised to GH¢8 from GH¢4 for mobile money agents, affecting transactions of GH¢2,000 and above.
This change to the structure came after the Central Bank reviewed the transaction and balance limits of mobile money wallets upward.
New feature: Сheck out news that is picked for YOU ➡️ click on “Recommended for you” and enjoy!
Proofreading by Bruce Douglas, copy editor at YEN.com.gh.
Source: YEN.com.gh
Delali Adogla-Bessa (Head of Current Affairs and Politics Desk) Delali Adogla-Bessa is a Current Affairs Editor with YEN.com.gh. Delali previously worked as a freelance journalist in Ghana and has over seven years of experience in media, primarily with Citi FM, Equal Times, Ubuntu Times. Delali also volunteers with the Ghana Institute of Language Literacy and Bible Translation, where he documents efforts to preserve local languages. He graduated from the University of Ghana in 2014 with a BA in Information Studies. Email: delali.adogla-bessa@yen.com.gh.
Bruce Douglas (Senior Copyeditor) Bruce Douglas has 13 years of experience in community media, including coverage of sports, human interest, crime and politics.
