MTN deploys AI tools to combat MoMo fraud as transactions surge
MTN Ghana says it is strengthening security across its Mobile Money platform with advanced technology designed to detect and prevent fraud before customers lose money.
The telecommunications company disclosed that its MoMo service now handles approximately 23 million transactions every day, making fraud prevention a growing priority as digital payments continue to expand across the country.
Speaking at a stakeholder engagement in Sunyani, Mobile Money Manager for MTN’s Northern Business District, David Nana Addai, said the company has introduced artificial intelligence, machine learning and predictive security systems to identify suspicious activities in real time.
According to him, the platform currently processes about 8.4 billion transactions, highlighting the need for stronger safeguards against increasingly sophisticated fraud schemes.
Rather than responding only after fraud occurs, he said MTN is investing in technologies that can anticipate and flag suspicious behaviour before transactions are completed.
Among the security measures introduced are biometric verification on the MoMo App, additional authentication requirements for bank-to-wallet transfers and device-binding technology that restricts account access to authorised devices.
Mr Addai explained that device binding prevents criminals from logging into a customer’s account on a different phone even if they manage to obtain login details.
He noted that many fraud cases still involve social engineering tactics, where criminals trick users into revealing one-time passwords or other sensitive information under false pretences.
Beyond technology, MTN is expanding public awareness campaigns aimed at educating customers about emerging scams and how to avoid them. Through radio programmes, community outreach activities and its “Shine Your Eye” campaign, the company is encouraging users to remain cautious when sharing personal or financial information.
The company is also working with law enforcement and cybercrime investigators to track and prosecute fraudsters.
Mr Addai revealed that discussions are ongoing among telecommunications operators to establish a centralised fraud-monitoring framework that would allow networks to share intelligence and respond more quickly to suspicious activities across platforms.
He urged customers to be wary of unsolicited calls and messages from individuals claiming to represent telecom companies, banks or insurance providers, stressing that personal security remains a critical line of defence against fraud.
Source: myjoyonline.com
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