AI Enhancing Fraud Detection on Mobile Money Platforms – CEO
MobileMoney Fintech CEO says AI is strengthening fraud detection and protecting users on digital payment platforms
- MobileMoney Fintech Limited is using AI to detect and prevent fraud on mobile money platforms
- New system focuses on behavioural patterns rather than only fixed rule-based detection methods
- CEO Shaibu Haruna says the upgrade improves monitoring and helps identify suspicious transaction patterns faster
The Chief Executive Officer of MobileMoney Fintech Limited, Shaibu Haruna, says the company is intensifying its use of artificial intelligence (AI) to combat fraud across mobile money platforms as digital transactions continue to rise in Ghana.
According to him, the company is increasingly deploying advanced technological tools to monitor transactions, detect suspicious activity, and identify patterns commonly associated with fraudulent behaviour among mobile money agents.
He explained that this move forms part of broader efforts to reinforce trust in Ghana’s rapidly growing digital payments space, where mobile money plays a central role in everyday financial transactions.
Mr. Haruna noted that once a fraud case is reported, the system can trace transaction histories and analyze behavioural patterns, enabling quicker identification and response to potential threats.
“Thanks to the power of artificial intelligence, we are strengthening our monitoring mechanisms, moving beyond rule-based systems to behavioural analysis, which allows us to better isolate and address fraudulent activities,” he said.
His remarks come amid increasing concerns over mobile money fraud in Ghana, as the growth in digital financial services has also created new opportunities for scammers targeting unsuspecting users.
Mr. Haruna emphasized that the adoption of AI represents a major upgrade from earlier systems that relied mainly on fixed rules. The new approach focuses on identifying behavioural patterns, making it easier to detect and investigate fraud more effectively.
He added that the company remains committed to cleaning up the mobile money ecosystem by ensuring that fraudsters are quickly identified and dealt with.
MobileMoney Fintech Limited plays a key role in Ghana’s mobile money industry, which has become a major driver of financial inclusion over the years. With millions of users depending on mobile money for daily transactions, the company and other industry players are increasingly investing in AI and data analytics to stay ahead of evolving fraud tactics.
Mr. Haruna assured customers that the company will continue to strengthen its systems to safeguard users and maintain confidence in the platform, which remains vital to Ghana’s push toward a cashless economy.
