This has become necessary as mobile money (MoMo) transfer is gaining grounds as a fast and easy way to transact business but criminals try to swindle unsuspecting victims.

The Director-General of the Criminal Investigation Department (CID), DCOP Mr Bright Oduro, said the police was usually the first to receive complaints involving fraudulent MoMo transactions and so were important stakeholders.

“It is necessary that personnel of the security agencies are equipped with the requisite knowledge and skills to ensure that MoMo transactions are conducted within the limits of the law,” he said at a one-day capacity building workshop on mobile money for security agencies in Accra on April 13, 2017.

He said that since crime was becoming increasingly sophisticated, organised and networked such that it required a holistic collaboration of all stakeholders to fight it.

MoMo landscape

The General Manager of MTN Mobile Money Limited, Mr Eli Hini, said Mobile Money had made strides over the years and therefore it was important to take steps to address any challenges that will impact negatively on the expected growth in the drive towards financial inclusion with MoMo.

He said MTN was happy to partner the Ghana Police Service and e-Crime to fight fraud associated with the use of the service in the country. 

Mr Hini cited identity thefts, overcharging by agents, impersonation and instances of cash out thefts as the few forms of fraud inherent in the use of the service in Ghana.

“Every good thing creates an opportunity for social deviants to take advantage and cheat unsuspecting persons. The growth should not become negative but should be seen in a positive light and that is why we are partnering to bring the situation under control,” he said.

He said MTN has over nine million registered customers on the platform and over 62,000 merchant points and agents and continued to introduce innovative products and services all aimed making MoMo acceptable and for payments in Ghana.

The Principal Consultant at e-Crime Bureau Ltd, a cyber-security and investigations bureau, Mr Albert Antwi-Boasiako, said Momo was not only generating money for the economy but was also helping to make payments easier for people.

“Research has shown that every kilometer one travels the risk exposure is about 75 per cent. But if one can just lie on his bed and through the mobile phone make payments then it mean one is saved from potential danger,” he said.

He emphasised on the need to build the capacity and confidence of the police in law enforcement and to develop MoMo fraud intelligence by tracking details of complaints and reports.

The workshop

The workshop was an initiative between MTN Mobile Money and e-Crime Bureau and was under theme; ‘Mobile Money Prospects in Ghana, Security Issues and Counter Measures.’

Forty police officers from the police headquarters in Accra participated in the workshop which sought to bridge the knowledge gap on mobile money operations among law enforcement officers and to identify common security, fraud and money laundering challenges confronting MoMo operations.

It was also to discuss best practices and counter measures to address security, fraud and money laundering risk.