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In Ghana, <a href="https://technext24.com/2024/04/16/mtns-momo-expands-across-10-countries/">MTN’s MoMo</a> service is a dominant player, widely used for various transactions. However, recent reports from users have raised serious concerns about the security of their funds on the platform. 
A viral thread on X, coupled with first-hand accounts from affected individuals, reveals a troubling trend of fraud and unauthorised transactions, leaving users questioning the safety of their money. 
The issue came to light through a viral thread on X, where a user, @_Jay_Sterling_, warned the public about potential fraud risks associated with <a href="https://technext24.com/2020/09/07/mtn-ghana-takes-telco-regulator-to-supreme-court-over-declaration-of-market-dominance/" target="_blank" rel="noreferrer noopener">MTN Ghana</a> MoMo. The thread, which garnered significant attention, began with a stark warning: 
“Your money is not secure with MTN!! 
“Fraudsters can now allow cash out without your pin. People are getting duped at an alarming rate. Consider other alternatives.”&nbsp; 
This alarming statement set off a wave of concern among MoMo users, with many sharing their experiences and frustrations. The thread highlighted a particular method used by fraudsters to deceive users into revealing sensitive information, leading to unauthorised withdrawals. 
<h4 id="a-momo-users-close-call-with-fraud" class="wp-block-heading">A MoMo user’s close call with fraud</h4> 
A user (anonymous) shared a chilling experience of almost falling victim to this scam. The user recounted receiving a MoMo authorisation notification, requesting him to enter his PIN for a transaction they had not initiated. 
Shortly after, the user received a call from someone claiming to have made a wrong transaction. The caller insisted they needed the user’s PIN to reverse the supposed error. 
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“Before the call came, a mobile money authorisation came saying I should enter my PIN for the transaction to go through knowing well that I haven’t allowed cashout anywhere. So the person called telling me that he made a wrong transaction so they have initiated an authorisation on my phone I should enter my PIN for the money to get back to them.” 
“I hung up on him and another guy called claiming to be the good guy, he asked me if anyone called me and I said yes and narrated everything to him. He then asked me to send the number to him so they block that line. I did that. 
“He asked me if I wanted to change my PIN and I said yes. So, he took me through the steps but fortunately for him, I realised before you change your PIN you must enter your original PIN before you can change it. That was when I realised who was just like the person that called and I hung up the call. He called me again but I didn’t pick.” 
This account highlights a tactic where fraudsters pretend to be legitimate callers from the company or bank to extract sensitive information. 
<h4 id="another-case-of-unauthorised-transaction" class="wp-block-heading">Another case of unauthorised transaction</h4> 
Another user (anonymous), shared a harrowing experience that involved multiple stages of deception.&nbsp; 
“So on the first of July, someone came to transfer 2,300gh to one Fred, after about three hours, this number <s>0268313653</s> called my mobile money number and mentioned the name on it. 
“He said, ‘My boss said you sent him some money so I would want you to send him airtime of 70gh, I’m transferring it to you from my bank account.'” 
After a few minutes, the user received a message of cash-in of the same amount and then the call came again. 
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“This time he said, ‘My boss Fred wants me to send him some cash, so please send me your personal number.'” 
She did. So, he called her personal number, and while they were talking another message of cash in receipt of 1,020gh was received. None of these transactions, she says, are reflected in the user’s account. 
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The user’s suspicion grew when she received a call in another 30 minutes from someone claiming to be an MTN staff member, supposedly investigating a fraud case. The caller, under the guise of helping her, tried to extract her MoMo PIN by asking her to check her “commissions” on the app, which requires entering a password. 
“So I was like, why should I enter my password?” 
“It was then that I realised they might be working together. They tried to make me enter my PIN under the pretext of helping me. I ended the call immediately, but by then, several unauthorised transactions had occurred, including a cash out of 2100gh, 400gh, and 2300gh. I reported the incident to MTN.”&nbsp; 
Even more recently the fraudsters reached out to her about the same Fred – but the user knows no Fred. 
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In all this, the user says MTN Ghana was not responsive. 
<h4 id="user-experiences-and-growing-concerns" class="wp-block-heading">User experiences and growing concerns</h4> 
These experiences are not isolated. The viral thread on X and subsequent discussions revealed a broader pattern of similar fraudulent activities.&nbsp; 
Users expressed their frustration with the lack of adequate response and preventive measures from MTN Ghana. Many complained about the difficulty in reaching customer service and the slow resolution of fraud cases. 
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 <img loading="lazy" decoding="async" width="1200" height="679" src="https://technext24.com/wp-content/uploads/2022/04/MTN-Momo-app.jpg" alt="MTN MOMO PSB" class="wp-image-140676" srcset="https://technext24.com/wp-content/uploads/2022/04/MTN-Momo-app.jpg 1200w, https://technext24.com/wp-content/uploads/2022/04/MTN-Momo-app-300x170.jpg 300w, https://technext24.com/wp-content/uploads/2022/04/MTN-Momo-app-1024x579.jpg 1024w, https://technext24.com/wp-content/uploads/2022/04/MTN-Momo-app-768x435.jpg 768w, https://technext24.com/wp-content/uploads/2022/04/MTN-Momo-app-380x215.jpg 380w, https://technext24.com/wp-content/uploads/2022/04/MTN-Momo-app-550x311.jpg 550w, https://technext24.com/wp-content/uploads/2022/04/MTN-Momo-app-800x453.jpg 800w, https://technext24.com/wp-content/uploads/2022/04/MTN-Momo-app-1160x656.jpg 1160w, https://technext24.com/wp-content/uploads/2022/04/MTN-Momo-app-760x430.jpg 760w, https://technext24.com/wp-content/uploads/2022/04/MTN-Momo-app-1100x622.jpg 1100w, https://technext24.com/wp-content/uploads/2022/04/MTN-Momo-app-600x340.jpg 600w" sizes="(max-width: 1200px) 100vw, 1200px">
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One user commented, “It’s frustrating that MTN doesn’t seem to have a handle on this. I’ve heard of so many people getting scammed, and it feels like they’re not doing enough to protect us. We need better security measures.”&nbsp; 
Another added, “The fact that fraudsters can even think of bypassing the PIN system is scary. It makes you question the integrity of the entire MoMo platform.”&nbsp; 
A social media content creator, Quincy Sunday also <a href="https://www.youtube.com/watch?v=SK6c5tAag_o&amp;ab_channel=HeadlessYouTuber" target="_blank" rel="noopener">claims</a> 14,000gh was withdrawn from his MoMo account without his PIN.&nbsp; 
<h4 id="response-from-mtn-ghana" class="wp-block-heading">Response from MTN Ghana?</h4> 
As of now, there has been no official statement from MTN Ghana regarding these specific incidents. And these are not new and isolated.&nbsp; 
There have always been several incidents, numbering <a href="https://www.modernghana.com/news/800518/dont-share-your-mobile-money-pins-with-anybody-mtn-to-cus.html" target="_blank" rel="noopener">48 in 2017</a>. But, those are the ones reported.&nbsp;However, users are <a href="https://www.csa.gov.gh/mobile_money_fraud.php" target="_blank" rel="noopener">typically advised</a> to be vigilant and not share their personal identification numbers (PINs) or other sensitive information with anyone, including supposed MTN staff. 
For instance, in <a href="https://www.modernghana.com/news/800518/dont-share-your-mobile-money-pins-with-anybody-mtn-to-cus.html" target="_blank" rel="noopener">September 2017</a>, Cynthia Lumour, the Corporate Executive of MTN Ghana mentioned that the number of fraud cases was on the increase because of the inability of users to hide their PINs from vendors and other subscribers.&nbsp; 
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She warned against sharing PINs adding that users should change their PINs regularly. 
“We advise customers never to share their PIN with anybody. And so, for example, if you’re going to do a transaction, enter the PIN yourself, don’t let anyone see it, even the vendor. And if you think someone has seen your pin, you should change it.” 
In a 2023 post on Facebook, <a href="https://www.facebook.com/story.php/?story_fbid=721235593363302&amp;id=100064306044855" target="_blank" rel="noopener">MTN wrote</a>: “Your MoMo PIN is your bonafide property. Guard it well!<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f510.png" alt="🔐" class="wp-smiley" style="height: 1em; max-height: 1em;">” 
But, this time, the users have observed that the fraudsters no longer need PINs to withdraw from their accounts.&nbsp; 
Attempts to reach MTN Ghana failed as of press time.&nbsp; 
The post <a href="https://technext24.com/2024/08/08/mtn-ghana-momo-account-frausters-pin/">Exclusive: MTN MoMo account users in Ghana share experience with fraudsters</a> first appeared on <a href="https://technext24.com">Technext</a>.

Exclusive: MTN MoMo account users in Ghana share experience with fraudsters

Technext.ng

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