MTN Mobile Money has announced plans to intensify its multifaceted approach to combating mobile money fraud as part of its strategic focus for 2026.

The move comes amid a sharp rise in online fraud, with the Cybersecurity Authority reporting losses amounting to GH?4.4 million in the first quarter of 2025 — up from GH?2.4 million during the same period last year.

Speaking at a Mobile Money Advocacy Group Capacity-Building Workshop in Accra, the Chief Executive Officer of MTN Mobile Money Limited, Shaibu Haruna, highlighted several key interventions rolled out by the company this year. He reaffirmed MTN’s commitment to strengthening these initiatives in the years ahead.

“Fraud permeates every financial sector, and what drives most of it is misinformation. The majority of fraud cases we encounter are socially engineered. Beyond the tools we deploy, our most effective weapon is customer education,” he said.

“We have already embarked on a series of customer engagements this year through platforms such as Shine Your Eye — a community-based initiative that uses drama and music to connect with customers. It’s a multifaceted approach, and we will continue to invest in it,” Mr. Haruna added.

The Managing Director of Universal Merchant Bank (UMB), Dr. Philip Oti-Mensah, also pledged the bank’s support for mobile money agents, emphasizing efforts to make transactions more affordable.

“At UMB, we recognize the high volume of transactions mobile money agents handle. We are committed to ensuring that transaction costs are reduced to support their operations,” he stated.

Meanwhile, Financial Planner at Axis Pensions Trust, Anita Wiafe, underscored the importance of mobile money agents planning for their financial future through pension schemes.

“We are not going to stay young forever, especially those in the informal sector. Unlike workers in the formal space, many do not have structured pension contributions. That is why we are collaborating with mobile money agents to help them secure their retirement,” she explained.

President of the Mobile Money Advocacy Group (MOMAG), Edward Ofori-Agyemang, noted that the workshop aimed to educate and empower agents to safeguard themselves and their businesses.

“Our goal is to ensure that mobile money agents across Ghana are better informed and protected. This programme is designed to equip them with the knowledge and tools needed to reduce their exposure to risks,” he said.