MTN partners stakeholders to tackle cross-network MoMo fraud

Mr Addai explained that fraudsters increasingly transferred stolen funds from one mobile money network to another because the existing process of sharing information among operators often took time, making it difficult to stop fraudulent transactions before the money was withdrawn.

The Mobile Money Manager-Northern, David Nana Addai, said the proposed system would enable the detection and real-time blocking of suspicious transactions across different mobile money platforms, making it more difficult for fraudsters to exploit delays in information sharing between network operators.

MTN Mobile Money (MoMo) Ghana has stepped up efforts to combat cross-network mobile money fraud by partnering law enforcement agencies and other industry players to establish a centralised, real-time fraud-monitoring system.