Subsequently, the telecommunication giant said it had already taken several steps, including engaging the services of the e-crime bureau to equip personnel of the Ghana Police Service (GPS) to help create the needed safe and secure environment for cashless transactions in the country.

The network operator also said it had updated its systems to quickly help detect fraudulent activities as part of effort to reduce the insanity in the industry and the threat it had on the entire country’s security.

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

The General Manager of Mobile Finance Service at MTN Ghana, Mr Eli Hini, said in an interview with the Daily Graphic on the sidelines of the launch of 2017 MTN Mobile Money Month on Thursday (August 3) at Madina in the Greater Accra Region.

“As the wind of digitalisation blows over Ghana and Africa, digital payment options are expected to lead economic transformation but this has been challenged by activities of fraudsters.”

According to him, MTN would continue to collaborate with all relevant stakeholders such as the police, media and other electronic crime agencies to mitigate the fraud menace.

“We also encourage our customers to take advantage of the short videos and safety tips on mobile money and fraud avoidance to educate themselves,” he said.

Going forward, he urged the mobile money subscribers to be extra vigilant in order not to be swindled by fraudsters.

Driving the digital agenda

Mr Hini observed that presently MTN had over 6.2 million mobile money active subscribers and over 75,000 merchants nationwide and added that it was important for Ghana to drive the digital agenda within the framework of the law.

“As we all know, we live in exciting times. The world is changing at a faster pace than we all could ever imagine. Some of us are trying to keep up with the pace of technological innovation,” he said.

He said, mobile money service had become more attractive and impactful because together with 16 partner banks, MTN had developed and deployed numerous innovative financial products aimed at convenience, safety as well as supporting the drive towards a cash lite Ghana.

As part of feedback, he said MTN in partnership with Fidelity Bank, launched the ‘Y’ello Save Account’ which enabled customers to save and earn 12 per cent interest per annum on money saved.  

Mobile Money Month

The MTN Mobile Money Month, which was introduced in 2012, is celebrated in August each year to deepen the awareness of the MTN mobile money service and its benefits among Ghanaians.

This year’s celebration, which marks the sixth edition of the anniversary is on the theme: “Expanding Digital Payment for Economic Transformation” and it will be marked by series of activities across the country.

The activities outlined for the month-long celebrations include a stakeholder conference, campus activations at second cycle and tertiary institutions, a Hackathon App competition, workshops with agents, and consumer promotions.

Other activities to be undertaken include a launch of interesting initiatives by partner banks of the MTN mobile money to excite customers who transact business with them throughout the month.