Bawumia unveils industry-led platform to combat MoMo fraud

The Vice President, Dr. Mahamudu Bawumia, has announced the launch of the Fraud Control Dashboard, an initiative by mobile network operators (MNOs), the central bank and the police to tackle the rising incidence of fraudulent activities in mobile money operations.

Dr. Bawumia, who was speaking at the opening of the second edition of the Mobile Technology for Development (MT4D) conference in Accra, explained that the platform will harmonise the individual fraud control mechanisms of mobile money operators to strengthen their effectiveness.

The platform, he said, will help in blocking SIM cards, mobile devices and ID numbers that are connected with any fraud or general crime-related cases in the country.

“I challenge you to continue working to find innovative digital solutions that will promote a sustainable society through providing universal access to financial services, healthcare, food security, and education to our people. I am confident in the ingenuity and determination of the Ghanaian people to find solutions to complex problems for our common good,” he said.

According to Dr. Bawumia, the platform has become essential given the threat fraudulent activities pose to the expansion of digital financial services.

Earlier this month, the country’s largest mobile money operator, MTN, implemented a raft of updates to its service, including requiring users to present identification for withdrawals, in a bid to tackling the growing incidence of mobile money fraud.

The proliferation of fraudulent activities, the Vice President said, is a huge worry for government, service providers and consumers since a good digital ecosystem must guarantee all users reliability, security, confidentiality, and completeness of transactions.

MT4D

The second edition of the MT4D conference, organised by the Ghana Chamber of Telecommunications and Financial Inclusion Forum Africa, is being held virtually in response to the challenges presented by the Covid-19 pandemic.

The two-day conference, which is being held on the theme “The Rise of Africa: Promoting Africa’s Sustainable Digital Ecosystem,” has brought together stakeholders within the financial, technology and development sectors of Ghana to deliberate, exhibit solutions and take stock of innovations within the digital financial ecosystem.

Source:Business24