MTN To Combat MoMo Fraud Come 2021 With New AI

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MTN MoMo

One of the country’s Mobile Telecommunications Operators MTN Ghana, has proposed plans to introduce a new Artificial Intelligence (AI) system to combat Mobile Money (MoMo) fraud early 2021.

MyJoyOnline reporting about this, indicated that it was one of many measures taken by the telecoms operator to deal with this illegal practice. Which some speculate could threaten subscriber confidence in the industry.

And further added that CEO of MTN, Selorm Adadevoh, disclosing on PM Express Business Edition last Thursday said this was to add up to existing business modules developed by the company to deal with the malpractice.

Measures Taken To Deal With MTN MoMo Fraud

During his speech, Mr Adadevoh laid out various measures taken to deal with MTN momo fraud such as :

  • Customer education, he said, is one of the tools that can be used to deal with this challenge. “This is because a well-educated customer will ward off potential threats from these fraudsters.”
  • He also indicated that the company has been in the pipeline with some security agencies, a good move which has seen to the arrest of scammers to an appreciable extent.
  • The CEO announced that they are working through the Telecom’s Chamber to administer a system that is targeted at blacklisting several phone numbers in use by these mobile money fraudsters in the country.

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Thus, he further explains that “as an industry, we need to start coordinating on how we can create a centralized fraud management database so that when a subscriber reports a fraudster, their ID details are captured and blocked.

Amidst Various Flaws, Mobile Money Still Remains Unexploited

Mr. Selorm finally argued that it still remains underutilized, despite huge flaws that had been recorded on the MTN momo platform, a lot more has to be done. “If we get excited by volumes of cash being moved, then we will be blinded by the real opportunities that this platform holds” – he said.

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MTN To Combat MoMo Fraud Come 2021 With New AI