The inclusion and coverage of the unbanked population in Ghana by telecommunication companies –MTN, Vodafone and Tigo-Airtel- through the provision of mobile money continue grow on yearly basis.

The value of mobile money transactions in Ghana grew by over 30% in March 2020 recording an increase to GH₵33.8 billion from GH₵23.4 billion within the same period last year [2019].

According to the E-crime Bureau which released this data, using mobile money platforms to drive financial inclusion, security issues have been a primary concern for the regulator, stakeholders, and consumers in the mobile money ecosystem.  

E-crime Bureau is currently conducting a survey on “Mobile Money Fraud Victimisation Survey”, which among the question is whether people who become victim are as a result of greed, ignorance or negligence, how the fraudsters are able to contact you among others.  

This is perhaps to help the IT Company to draw a roadmap to support the telecos to address the challenge.