MTN Mobile Money (MoMo) has intensified efforts to combat mobile money fraud, with fraud incidents declining by 26 per cent in the second quarter of 2026, according to the company’s Chief Executive Officer, Shaibu Haruna.
Mr Haruna disclosed this during a presentation at the MTN Fintech Media Development Series, where he outlined measures being implemented to strengthen security and make the mobile money ecosystem safer for financial transactions.
He described the decline in fraud incidents as an encouraging sign that ongoing interventions were yielding results, although sustained efforts would be required to protect customers and safeguard the integrity of the digital financial services sector.
According to him, the organisation is working tirelessly to curb fraudulent activities and create a secure environment in which customers can conduct mobile money transactions with greater confidence.
PARTNERSHIP WITH SECURITY AGENCIES
Mr Haruna said MTN MoMo was collaborating with key security and law enforcement institutions to tackle the growing threat of mobile money fraud.
These include the Economic and Organised Crime Office (EOCO), the Ghana Police Service and the Cyber Security Authority, among other relevant institutions.
The collaboration is aimed at strengthening the response to fraudulent activities, improving investigations and supporting efforts to identify and bring perpetrators to justice.
The involvement of these agencies is expected to reinforce the fight against criminal networks exploiting digital financial services to defraud unsuspecting customers.
PROTECTING CUSTOMERS
Mobile money has become an important part of Ghana’s financial ecosystem, providing millions of people with access to convenient digital payment and money transfer services.
However, fraudulent activities remain a concern for customers, service providers and regulators, making the protection of users and their funds a critical priority.
The reported 26 per cent reduction in fraud incidents offers an encouraging indication of progress. Nevertheless, maintaining that momentum will require continued investment in security systems, effective collaboration with law enforcement agencies and greater customer awareness.
Customers also have a role to play by protecting their mobile money PINs, avoiding suspicious links and refusing to disclose confidential transaction details to unknown individuals.
SUSTAINING THE GAINS
The latest figures highlight progress in MTN MoMo’s efforts to strengthen security across its digital financial services platform.
The key challenge will be to sustain the reduction in fraud incidents while ensuring that emerging methods used by fraudsters are detected and addressed promptly.
As digital financial transactions continue to expand in Ghana, the effectiveness of measures introduced by service providers and security agencies will remain crucial to building public confidence in mobile money services.
While the reported decline represents progress, sustained vigilance, stronger enforcement and customer education will be essential to making Ghana’s mobile money ecosystem safer.
MTN MoMo Cracks Down on Mobile Money Fraud …RECORDS 26% DROP IN FRAUD Incidents
