MTN denies mobile money fraud allegation

MTN Ghana has responded allegations of telcos’ complicity in mobile money fraud in an article published in The Finder newspaper on October 23rd 2017, under the headline Mobile Money Fraud alarming.

In the publication, the newspaper alleges amongst other things that staff of Telecom companies are involved in Mobile Money fraud.

According to MTN, the allegations made in the report which create negative impressions about the industry, are inaccurate.

A press release issued by MTN said the company takes the data protection laws of Ghana and the privacy of customers very seriously.

“Accordingly, MTN has absolutely no tolerance for anyone (be it Mobile Money agents, employees) who may seek to violate the very stringent policies and processes the Company has put in place to protect customer data and privacy.

MTN has robust governance structures in place and will continue to safeguard the data and privacy of its customers. Indeed MTN Mobile Money was the first Mobile Money service to have received the ISO/IEC 27001:2013 certification in Ghana.

MTN wishes to assure our stakeholders that customer pin numbers are not accessible to staff and as such cannot be updated or changed in the system as was purported,” the statement said.

MTN further disputed the suggestion that 50% of all Mobile Money subscribers have either been defrauded or targeted.

“This is highly inaccurate and is unsupported by evidence. Statistics available to MTN confirm that less than One percent of subscribers are affected.

The above statistics notwithstanding, MTN considers the issue of Mobile money fraud one of utmost importance and continues to be dedicated in the provision of the needed attention to address the situation,” he statement added.

Commenting on the issue, Eli Hini, GM, MTN Ghana Mobile Money said, “The MTN Mobile Money service is committed to providing the highest level of security to protect its users.

The system and processes conform to best practice in the industry, and the service is highly regulated by the relevant authorities. We have undertaken public education campaigns to encourage all our valued Mobile Money customers to be extra vigilant and take steps to protect their wallets”.

As pioneers of the Mobile Money service in Ghana and the leading provider of the service, MTN, Mr. Hini said, will continue to work with the security agencies to eliminate the incidences of Mobile Money fraud, so as to create a safe and secure environment for our Customers to enjoy an excellent service experience.