As MTN Mobile Money Limited (MML) celebrates its 15th anniversary, Rena Ankrah, a representative of the company, has taken centre stage to raise awareness about the growing threat of MoMo fraud.
During the MoMo@15 Live Session, broadcast across MTN’s social media platforms, Ankrah shared key insights into the sophisticated techniques fraudsters are using to deceive customers and urged users to be more vigilant than ever.
Rena Ankrah’s primary focus was to inform customers about two major schemes that fraudsters are currently using to target unsuspecting MoMo users:
1. WhatsApp Account Takeovers: Ankrah warned that fraudsters have begun hijacking customers’ WhatsApp accounts through clever social engineering tactics. Once they gain access, the scammers send urgent messages to the victim’s contacts, asking for money.
They cleverly direct these payments to different phone numbers, making it difficult for the victim’s family or friends to detect the scam. Ankrah stressed that people should never send money to someone they haven’t spoken to directly, even if the request seems to come from a familiar contact.
2. E-Cash Liquidation: Another emerging trend, according to Ankrah, involves fraudsters who approach MoMo agents, merchants, or subscribers with a story about reaching their daily transaction limit. The scammer asks to use the individual’s MoMo account to receive money, promising to repay it. While the transfer appears legitimate, this tactic implicates the person who agreed to receive the money when fraud is later discovered. Ankrah cautioned customers against allowing strangers to use their accounts for any reason.
Beyond these two sophisticated schemes, Ankrah urged all MoMo users to be extremely cautious with their transactions.
She reminded customers never to share their MoMo PIN with anyone, including people claiming to be MTN employees, and to be wary of unsolicited offers of help or promotions that seem too good to be true.
“Fraudsters are getting more creative, and we all need to stay one step ahead. It is critical that customers treat any suspicious activity with caution and report it immediately to MTN,” Ankrah emphasised during her presentation.
In addition to Rena Ankrah’s warnings, Nanatunde Davies, another member of MML, also elaborated on several classic fraud schemes:
Fake Wrong Transfers: A scam where fraudsters claim to have accidentally transferred money to a customer’s account, pressuring them to return the funds. Often, fake SMS alerts are used to make the situation seem legitimate.
Impersonation of MTN Employees: Fraudsters pretend to be MTN workers and offer to assist with reversing a transaction. During this “assistance,” they convince customers to reveal their MoMo PIN, which is then used to steal their money.
Fake Loan Links and Promotions: Fraudsters send fake loan offers or claim the customer has won a prize, asking for personal information such as a Ghana Card number to process the fake reward.
As MTN MoMo reaches this significant milestone, Rena Ankrah’s message is a critical reminder of the need for heightened security awareness. With fraud on the rise, MTN MoMo is not only celebrating its achievements but also focussing on educating users to ensure that their financial transactions remain secure.
Rena Ankrah and the team at MML continue to stress the importance of vigilance, with MTN committed to fighting fraud through customer education and enhanced security measures.
MTN MoMo users are encouraged to report any suspicious activity and always verify the authenticity of any requests before taking action. Rena Ankrah’s message was clear: “Protecting your MoMo account starts with you.”
