The Bank of Ghana (BoG) has raised concerns over the rising incidents of Mobile Money (MoMo) fraud, urging the public to remain vigilant and take precautionary measures to protect their funds. According to the central bank, the surge in fraudulent activities has been linked to the increasing adoption of mobile money services, which fraudsters are exploiting through various schemes.
In a statement, the BoG noted that common tactics used by scammers include phishing, impersonation of service providers, and false promotions to deceive unsuspecting users into revealing their personal information or transferring funds. The central bank emphasized that legitimate mobile money operators do not request sensitive information such as PIN codes or personal details over the phone or through text messages.
The BoG is working closely with mobile money operators and law enforcement agencies to combat the growing threat and has urged users to report any suspicious activity to their respective service providers. The central bank has also advised the public to regularly change their PINs, avoid sharing personal details, and verify the identity of individuals requesting information about their accounts.
The rise in MoMo fraud highlights the need for enhanced public awareness and stricter regulatory measures to safeguard the digital financial ecosystem. The BoG reiterated its commitment to ensuring a secure and trustworthy mobile money platform, urging Ghanaians to stay alert and adopt safer practices to protect their funds.