Mobile money fraud threatens Ghana's digital economy as criminals steal millions from users. MTN launched the service in 2009 to help people without bank accounts make financial transactions through their phones. The platform serves over 74 million registered users across developing countries. More than 80 percent of Ghana's economy operates without formal banking systems. People depend on mobile money for daily financial needs.
Fraudsters target mobile money accounts using sophisticated schemes to withdraw funds without permission. Police report receiving more than 2,000 complaints about unauthorized transactions. Criminal investigators have identified suspects who steal up to 50,000 cedis daily through illegal activities. One suspect...