Ghana: MTN Reveals The Arrest of Over 40 Mobile Money Fraudsters

Telecommunications giant, MTN has stated that it has collaborated with the Cybercrime Unit at the Criminal Investigation Department (CID) of the Ghana Police Service to arrest over 40 million mobile money (MoMo) fraudsters.

Head of Mobile Financial Services at MTN Eli Hini revealed this at the 2020 Annual General Meeting of shareholders .

“We do have a tracing mechanism that allows us to follow through on the fraud reports when we receive them.

“ As a result of tracing, follow-ups and investigation, we have worked with the Ghana Police and made over 40 arrests.

“Those arrests have been because of our work, our intelligence and the support we have had with the police. Some have involved dawn-swoops in specific communities because of the intelligence we pick up when these issues arise. To a large extent, we have also been able to recover some of the funds that have been involved; and most of this has been related to the time of report and the details and additional information that we got”, he explained.

He also added that MTN is currently investing $2.5 million dollars to get additional solutions that will enhance their artificial intelligence to be able to further deal with fraud issues before they occur.

Chief Executive Officer of MTN Ghana, Selorm Adadevo also stated that the company has rolled out a fraud management project that will be utilized in halting the activities of the fraudsters

“We have spent a lot of our time and dedicated focus on fraud management. We have made significant progress this year in arrests, and we continue to tighten processes and invest in technology to enable us to do an even better job at being proactive and detecting the management of fraud”, he added.

15.5 million Ghanaians are currently using the MTN Mobile Money Service.

Additionally over ¢4 billion have gone through the service in the form of monetary transactions