Thursday, September 21, 2023
HomeTech In GhanaHow To Protect Your Mobile Money Account From Fraudsters

How To Protect Your Mobile Money Account From Fraudsters

The introduction of the mobile money platform into Ghana by MTN Ghana has made payments and financial transactions much easier for Ghanaians.

People can now make and receive payments in an instant, no matter where they may be.

Through this, financial life has been made easier for Ghanaians. 

However, one of the major challenges facing the mobile money platform, especially the MTN mobile money platform, is the frequent activities of fraudsters on the platform.

There have been numerous mobile money fraud cases of people getting duped by fraudsters on the MTN mobile money platform.

These fraudulent activities have caused the telecom company/service provider to implement new safety measures like requiring customers to show their ID before allowing them to cash out. 

If you find yourself in a situation where you needs money and at the same time can not find your ID Card to withdraw that money, you can check out this article taking you through the top five ways to withdraw MTN Mobile money without an ID Card.

It is yet to be seen if this new measure will prevent fraudsters from getting their hands on peoples’ mobile money wallet and improve the whole platform security.

Due to this, we have decided to share with you guys some ways through which you will be able to keep your mobile money safe from fraudsters.

Read below and get to know how you will be able to keep your mobile money safe.

Change your PIN Code From Time To Time

It would be best if you made it a habit to change your PIN code as regularly as possible, although the mobile money platform is secure.

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The PIN is the key to unlocking your wallet, and once a fraudster gets their hands on this, they could be able to withdraw money from your wallet.

So it is very important to make sure that you change the PIN once in a while. Make sure to write the new code somewhere safe so that you do not forget.

We advise that you change the PIN code at least every 3-4 months period.

Do Not Approve Unaware Transactions

Some fraudsters can trick victims into allowing a withdrawal command when they send them a notice to approve a mobile money transaction on their mobile device.

When approving such a transaction, money will then be deducted from your money account and sent to the person who sent you the withdrawal notice.

Fraudsters do this by using your phone number and the SIM card of a mobile money merchant, and they can get these quite easily.

Due to this, you must make sure not to approve any transactions unless you know who initiated that transaction.

Please ignore it and then quickly report it to the telecom network whenever you get such a message.

Stop Paying Attention To Online Free Data And Airtime Forms

Another way that fraudsters get access to your phone number is when they send you a link to claim free airtime and data.

The link normally asks you to fill in some forms before getting the free airtime and data.

The information you put on those forms is then retrieved by the owners of the site, who take the ones that they need and then discard the rest.

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So if your phone number is on the form, fraudsters will be able to get it and use it trying to steal from your mobile money account.

Check Your Balance Frequently

You must know how much balance you have left in your mobile money account. Knowing how much you had left in your account after your recent transaction will help you know that you are about to be defrauded When someone calls claiming he has mistakenly sent money to your number and needs you to send it back. This trick is normally used on unsuspecting people.

The message is normally accompanied by some dubious SMS claiming to be from MTN, alerting you that money has been deposited in your account.

If you already know your account balance, you can check the message to see if that is the same balance stated in that message.

Knowing your balance will help you because fraudsters always guess to put any amount on the Current balance side, and if you already know your account balance, you will know it is a fake message and not from the MTN Mobile money.

Never Check Your Account Balance As Soon As Someone Calls You Claiming He Or She Has Made A Wrong Transaction To Your Account

This step is one of the easiest tricks that these fraudsters use. What they do is that they will make a mobile money request from your account and then will call to tell you that they have mistakenly sent money to your account and for that reason, check your balance to see if that money has arrived.

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They will then cut the call and wait for you to check your balance. As you dial the mobile money shortcode, you will be asked to input your Mobile money PIN, and if you type in that code intending to check your balance, you are then going to find yourself duped.


These are some of how you can protect your mobile money from fraudulent attacks from fraudsters. Make sure to stay two steps ahead of the fraudsters since they are always devising new ways to dupe people.

Always note that MTN will not call you to offer any promotion to you, as they always state,”‘ You only win in a promotion that you have personally participated in, also note that MTN Ghana has one official number that they use to make calls and that number is 0244300000.

Any call aside from this number claiming to be calling from MTN is a fraudster. One thing about the mobile money service is that a fraudster needs your mobile money details when before he or she can proceed in duping you, so I will advise refraining from giving your personal details when you receive a call when you suspect that caller is asking for too many information about you.

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