Momo@15: MML strengthens fraud prevention measures against fraudsters

As MTN Mobile Money (MoMo) celebrates its 15th anniversary, Mobile Money Limited (MML) has ramped up efforts to protect its customers from fraud.

In response to the growing sophistication of fraudulent activities, MML has introduced a comprehensive set of anti-fraud measures aimed at safeguarding the millions of MoMo users in Ghana.

During a special “MoMo@15 Live Session” streamed across MTN’s social media platforms, Nanatunde Davies, a key figure at MML, outlined the company’s new initiatives.

She explained how MML is focussing on both proactive and reactive strategies to combat fraud, ensuring that customers can transact safely on the platform.

1. Strengthening Awareness and Education
According to Davies, one of the cornerstones of MML’s anti-fraud strategy is empowering customers with the knowledge they need to protect themselves. Through ongoing training sessions and public awareness campaigns, MoMo users are educated on the importance of keeping their PIN confidential and identifying red flags associated with fraudulent activities.

“Customers are the first line of defence,” said Davies. “By helping them understand how fraud works and how to protect their MoMo PIN, we can significantly reduce the number of fraud cases.”

2. Blocking suspicious SMS messages 
MML has implemented a system that automatically filters and blocks suspicious SMS messages sent to customers. Fraudsters often use fake promotions or rewards to lure unsuspecting customers into sharing sensitive information. To combat this, MML monitors all SMS activity and prevents these fraudulent messages from reaching its users, ensuring they are not tricked into giving away personal details.

3. Enhanced Transaction Monitoring
MML has introduced advanced tools that enable real-time monitoring of transactions across its platform. These tools are designed to detect and flag unusual or suspicious activity, allowing MML to intervene quickly. When a transaction is identified as potentially fraudulent, MML investigates the matter thoroughly and can block both the account and the device involved to prevent further misuse.

“We are constantly improving our systems to stay one step ahead of fraudsters,” Davies noted. “Our goal is to detect fraudulent activity before it affects our customers.”

Collaborating with Law Enforcement and Fintechs 
Davies also highlighted MML’s partnership with law enforcement agencies, other telecom operators, and fintech companies. This collaboration strengthens their ability to track down and prosecute fraudsters, while ensuring that all players in the industry contribute to a safer digital ecosystem.

In closing, Davies urged MoMo users to remain vigilant and report any suspicious activity immediately.

She reassured customers that MML is committed to maintaining the highest standards of security, particularly as they celebrate this milestone anniversary.

With these new measures in place, MTN MoMo continues to lead the charge in financial inclusion while ensuring a secure and trusted platform for all its users.