The Vice President, Dr. Mahamudu Bawumia has announced the launch of the Fraud Control Dashboard initiative by the industry and in partnership with the Bank of Ghana and Ghana Police.
This platform will harmonize the individual fraud control mechanisms of mobile money operators to strengthen our national resolve in tackling and mitigating fraud on our networks.
Speaking at the second edition of the Mobile Technology for Development Conference 2021, the Vice President said, the platform will help in blocking SIM cards, mobile devices, and blacklist ID numbers that connect to any fraud or general crime-related cases in the country.
“As digital financial services expand, new partnerships will emerge and so will new opportunities. But, one major challenge confronting the financial industry today is the proliferation of fraudulent activities,” he said.
“This is a huge worry for Government, service providers, and consumers. Because the soundness of a good digital ecosystem must guarantee all users reliability, security, confidentiality, and completeness of all transactions.”
The Vice President challenged industry stakeholders 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.
- Value of MoMo transactions increase by 150% between April 2020 and April 2021 – BoG data
- Mobile money fraud: Two factor authentication, an algorithm to end this menace
- Invest in security systems, tools to avert fake currency circulation – E-Crime Bureau
- Total value of MoMo transactions in 2020 was GH¢569 billion - Dr. Bawumia
- Danger: MoMo agents not adhering to coronavirus safety protocols
- Read all related articles