Momo fraud

MoMo Fraud On The Rise – Bank Of Ghana Warns
20 Jan

MoMo Fraud On The Rise – Bank Of Ghana Warns

CUD Wontumi0 CommentsBusiness,
The Director of Fintech and Innovation at the Bank of Ghana, Mr. Kwame Oppong, says cases of mobile money fraud are on the increase, with fraudsters devising various means to scam both mobile money vendors and users of the mobile money platform. Speaking at the swearing-in ceremony of the new executives of the Mobile Money Advocacy Group, Mr. Oppong said the Mobile Money Regulatory framework in Ghana has been adjudged the number one globally, which is a big boost to the fintech industry, hence the need to protect the sector. Since the introduction of mobile money in Ghana, sending and receiving…
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MoMo Fraud Cases Drop Marginally – BoG Report
16 Jun

MoMo Fraud Cases Drop Marginally – BoG Report

wontumionlineBusiness
Mobile Money (MoMo) fraud registered 12,166 cases in the year 2022, as against 12,350 cases recorded in 2021, indicating a marginal decrease, the 2022 Fraud Report, published by the Bank of Ghana (BoG) has said. According to the report, MoMo fraud has become predominant, especially, to the vulnerable who mostly are unable to read. The report said there is also a lack of attention to security by most people in using the mobile money application. “Also a general lack of security awareness has largely contributed to victims easily falling prey to fraudsters. The Bank of Ghana has however engaged the…
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