MTN MoMo Strengthens Fraud Prevention Measures in 2026 Strategy
Telecom giant intensifies customer education and digital security initiatives amid rising cyber fraud cases.
- he company plans to strengthen its 2026 strategy against mobile money fraud, focusing on customer education and digital security.
- Losses from online fraud in Ghana surged to GH₵4.4 million in Q1 2025, nearly doubling compared to the same period last year.
- Banks and pension providers are collaborating with mobile money agents to reduce transaction costs and encourage retirement planning.
MTN Mobile Money Limited (MoMo) has unveiled plans to scale up its fight against mobile money fraud as part of its 2026 strategic agenda. The initiative comes in response to a surge in online fraud, with the Cybersecurity Authority reporting losses of GH₵4.4 million in the first quarter of 2025 — a sharp increase from GH₵2.4 million during the same period last year.
Speaking at a Mobile Money Advocacy Group Capacity-Building Workshop in Accra, Chief Executive Officer of MTN MoMo, Shaibu Haruna, reaffirmed the company’s commitment to a proactive, multifaceted approach to tackling fraud.
“Fraud cuts across every financial sector, and most cases are socially engineered through misinformation,” Mr. Haruna noted. “Beyond deploying advanced tools, our strongest weapon remains customer education.”
He highlighted MTN’s community-based awareness campaign, Shine Your Eye, which uses drama and music to educate customers on fraud prevention. “We have already engaged customers nationwide through this initiative, and we intend to expand it further,” he added.
The Managing Director of Universal Merchant Bank (UMB), Dr. Philip Oti-Mensah, pledged the bank’s continued support for mobile money agents, stressing the need to lower transaction costs to improve their profitability.
“At UMB, we understand the crucial role mobile money agents play in financial inclusion. We are working to make transactions more affordable for them,” Dr. Oti-Mensah stated.
Financial Planner at Axis Pensions Trust, Anita Wiafe, also encouraged mobile money agents to plan for their future through structured pension schemes. “Those in the informal sector often lack retirement security, so it’s important to build that safety net early,” she advised.
President of the Mobile Money Advocacy Group (MOMAG), Edward Ofori-Agyemang, said the workshop was aimed at empowering agents with the knowledge and tools to safeguard their businesses. “Our goal is to ensure that every MoMo agent across Ghana is well-informed and protected from fraud risks,” he said.
