Citing consumer irresponsibility, MTN MoMo refutes the system breach in the widely shared GH¢11,000 fraud accusation.
Business News GraphicOnline15 April 2025, 13:45
Following a widely shared social media complaint from a customer who claimed GH¢11,000 was taken out of her mobile wallet without her permission, MobileMoney Limited (MoMo), the company that runs MTN Ghana's mobile money service, has denied claims of a system breach.
In a TikTok video shared on Saturday, April 12, 2025, the impacted consumer described the situation, which caused a great deal of internet worry.
After reporting the incident, the woman in the video [linked below] bemoaned what she called subpar customer service and accused MTN Ghana of not protecting user monies.
"MTN Ghana, When I discovered that GH¢11,000 had been taken out of my mobile money account, I was just lying here. How is this possible when no one got in touch with me or asked for my mobile money PIN or transaction ID? She asked.
"I called MTN Ghana after seeing the transaction, and they told me to wait for 15 working days," she added, bemoaning the telco's answer. Are we secure? What is wrong with MTN Ghana? The woman who answered the phone when I called even treated me rudely. Is it simple to get this kind of money these days?
On Tuesday, April 15, 2025, MobileMoney LTD released a formal statement in reaction to the widely shared video, stating that no evidence of a technological compromise had been discovered during internal inspections.
Instead, the business cited social engineering, a prevalent fraud technique, as the most likely reason.
The business said, "Our findings suggest that this was a case of social engineering, where a person unknowingly shares sensitive information with fraudsters, such as a PIN, verification link, or One-Time Password (OTP)."
The mobile banking services company reaffirmed that protecting consumers' digital privacy is still of utmost importance. The business warned against disclosing your PIN or OTP to anybody, including those posing as MTN representatives.
Additionally, MoMo told the public that it is still working to improve security and fight fraud. "We're still dedicated to making sure your transactions are safe, easy, and secure," the statement said.
Discussions on the growing risk of digital fraud in Ghana's quickly growing mobile money industry have been rekindled by the incident.
Experts in cybersecurity continue to emphasise the importance of users being vigilant, especially against scams that exploit deceit and impersonation, given that millions of people rely on mobile wallets for everyday transactions.
The CEO of MTN Ghana has promised to step up efforts to combat fraud, promising clients more ways to combat scams involving mobile money.
Users are urged to independently confirm unsolicited calls or texts purporting to be from MoMo and to report any suspicious activity right away.
