The fraudsters don’t use hacking, they play on our minds – BoG’s Cab-Beyuo on Mobile Money Fraud
Fraud cases in Ghana's financial sector rose sharply in 2025, but the problem is concentrated in one area: mobile money, according to the Bank of Ghana's Fraud Investigations and Reporting Unit.
Speaking on Joy FM's Super Morning Show, Eric Cab-Beyuo, Head of the Fraud Investigations and Reporting Unit at the Bank of Ghana, said commercial banks and Specialised Deposit-Taking Institutions (SDIs) have made clear progress in reducing fraud, but Payment Service Providers (PSPs) remain the sector's weak point.
The payment service providers are what we refer to as the electronic money — so we are looking at MTN Mobile Money, AirtelTigo, and Telecash," he said.
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