MTN said although attempt to defraud people keep increasing the actual fraud incidents is decreasing because people are becoming aware of the ways by which the fraudsters defraud them and are quick to protect themselves by adhering to the Golden Rules.
Senior Manager, AML Compliance & Analytics for the company, Godwin Kwami Tamakloe, said at a briefing with members of the Journalists for Business Advocacy (JBA) on Friday, May 15 that this is “All because of the measures we are implementing.”
The cases have dropped from 900 to 300 as of April 2020 due to the actions taken to deal with the problem.
The measures introduced by the company included the activation of feedback process on report fraud incidents, identification and blocking of all MoMo accounts registered with fake ‘Know Your Customer’ (KYC).
KYC is a process by which banks obtain information about the identity and address of the customers. This process helps to ensure that banks’ services are not misused.
Similarly, MTN agents engaged in fake registration process are being reported to the Police for arrest and prosecution.
MTN has also improved on the education initiatives using more local dialects, leveraged on all MTN owned opportunities to disseminate awareness, partnerships and trainings for major associations/Communities, partnered with the Police to publish arrested and prosecuted cases, issue disclaimer on emotional and business-related fraud cases.
In addition to the awareness and education program is the documentary on MoMo Fraud we are working on to be shown on the Ghana Police Watch program across 21 TV stations, soon to be aired.
“We have also sponsored the setting up of a Forensic Lab for the Ghana Police CID to help with investigations of financial and cybercrimes, said Mr Tamakloe.
He further revealed a joint capacity building programme on MoMo fraud has been organised for Judges in the southern zone and plans are underway to get that of the northern sector done digitally following the COVID-19 outbreak.
MTN MoMo has roped into the financial sector over Ghs3billion as float sitting with all of MTN’s 19 partner banks over the 10year period. Read Full Story
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