MoMo fraudsters to have their SIMs blacklisted, blocked - Telco Chamber

Mobile financial services keep growing

Loss incurred through E-money fraud keeps increasing

Telecommunications Chamber, BoG intensifying efforts to curb mobile money fraud – Dr. Ashigbey

The Ghana Chamber of Telecommunications has indicated that efforts to reduce the increasing cases of mobile money fraud are being intensified.

Chief Executive of the Chamber, Dr. Kenneth Ashigbey, stated that

Read full articlethe Chamber is working assiduously with the Bank of Ghana to ensure that perpetrators of these crimes are brought to book, according to Citi News.

According to him, collaborations with the police have led to the creation of a fraud control dashboard which has led to the blacklisting of about twenty-eight thousand (28,000) mobile devices in Ghana.

“The fraud control dashboard ensures that if someone perpetuates fraud on their SIM, and investigations confirm this, their SIMS will be blocked. Authorities will look into the ID used in registering the said SIM, if it’s an ID that has been used on multiple occasions to commit fraud it will be blacklisted with their device being blocked.”

“We have recorded about 35,000 incidents so far, about 28,000 devices have been blocked and about 17,000 IDs have also been sanctioned as well,” he added.

Mobile financial services have seen rapid growth in recent times, leading to the increasing level of fraud in the sector.

Data from the BoG showed that loss incurred through E-money fraud increased from approximately GH¢370,000 in 2019 to an estimated GH¢1.04 million in 2020, representing a 180.0% percent increase.