Fraud cases involving fintechs rising as criminals exploit payment channels – Ebenezer Boffour

The head of Internal Affairs at Hubtel, Ebenezer Boffour, says fraud cases involving fintech companies and payment service providers (PSPs) are increasing, with criminals increasingly exploiting digital payment channels to target users.

Speaking at the JoyNews-Hubtel dialogue on the impact of fraud on Ghana’s digital economy on Wednesday, July 22, Mr Boffour said data from recent reports show that a significant proportion of reported fraud cases are linked to fintechs and PSPs.

According to him, while fraud cases involving traditional banks appear to be declining, fintech platforms are recording an upward trend due to their position within the digital payment ecosystem.