MTN to deploy AI, others to fight MoMo fraud

MTN Ghana has said it continues to invest in its security systems including acquisition of Artificial Intelligence (AI) technology as part of its effort to secure the Mobile Money (MoMo) platform against activities of fraudsters.

Just a year ago, MTN Ghana launched a comprehensive security programme called the Marshall Plan, which also encompasses all the security around its MoMo platform. Additionally, MTN Ghana indicates that it maintains a strong partnership with the Ghana Police Service, to forestall the activities of fraudsters and track cyber-crimes.

Prosper Sossoe, MTN’s Mobile Money Intelligence and Analytics Manager, for instance, said about 50 MoMo fraudsters have been arrested, since the beginning of the year, working in partnership with the Ghana Police Service. He added that prosecution of these fraudsters would soon commence.

Meanwhile, he explained that fraudulent activities are socially engineered and require strong awareness creation as one of the remedies. This, he said, the company is doing through the education of its customers and the general public, to make them more vigilant on the activities of fraudsters.

Mr. Sossoe, who was responding to questions from journalists during the ‘MTN Editors Forum’ for its Northern Business District,’ said some of the feedback obtained shows that customers are able to detect and report the activities of perceived fraudsters.

Sam Koranteng, Corporate Services Executive (CSE) of MTN Ghana, said they are aware of the development in Uganda where a third-party system connecting to multiple mobile money operators was compromised.

He said MTN Ghana is monitoring the process of the investigations closely while assuring customers and the general public that the network operator, MTN Ghana, continue to remain vigilant to it security and systems among others.

He disclosed that since 2019 about US$300 million network investments have been made while also making some significant investment in various communities across the country. Notwithstanding some of the setbacks brought as a result of the pandemic, Mr. Koranteng assured that MTN Ghana is on track to become a digital operator by end of 2023.

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