Social engineering, not hacking, driving MoMo fraud in Ghana – MobileMoney Fintech

Mobile money fraudsters in Ghana are increasingly exploiting human behaviour rather than relying on sophisticated hacking techniques to steal customers’ money, according to MobileMoney Fintech Limited’s Senior Manager for Financial Crimes, Moses Tetteh. He said fraudsters were using social engineering tactics to manipulate unsuspecting users into disclosing sensitive information, which they then use to access mobile money wallets and banking applications. Mr Tetteh made the remarks in an interview with MyJoyOnline on the sidelines of the 15th Absa-UPSA Law School Quarterly Banking Roundtable at the Absa Head Office in Accra. The forum brought together banking, legal and fintech experts to discuss emerging financial crimes and challenges facing the financial services sector.