The Bank of Ghana has issued a warning to all financial institutions to be mindful of a new mobile money fraud type.
According to BoG, fraudsters call bank staffs, tellers especially, claiming to be from the head office of one of the Telecommunication companies.
The fraudsters then proceed to tell the staff that they have been instructed to train them on the reversal process on mobile money.
“As part of the process, the staff would be asked to enter certain codes on the mobile platform. The codes entered lead to the debiting of the bank’s mobile wallet.”
“Per its mandate, the Bank of Ghana intends to raise awareness among institutions to this particular fraud to help minimise its occurrence,” the BoG said in a statement.
The institution adviced banks to ensure that all staff mambers are made aware of the fraud type and adviced to have at least two people handling all mobile money transactions at a bank branch.
“The designated officials shall be at the management level at the branch/agency typically Branch Manager of Operations. The designated MoMo staff must not take instrauctions directly from the Telco’s representatives.”
BoG also urged that any communication between representatives of Telcos and bank staffs should be approved first by the Telcos’ head office.
Latest Stories
-
‘Man stuffing ballot box, not our staff and incident not related to Ejisu by-election’ – EC
14 mins -
Agogo Presby Hospital holds annual performance review meeting
19 mins -
Fifth body found after Baltimore bridge collapse
29 mins -
Atlantic Lithium to list on the Ghana Stock Exchange
34 mins -
EOCO could have done more investigations into Cecilia Dapaah’s case – GII
50 mins -
MTN FA Cup: Dreams FC to switch focus to title defence after CAF Confederation Cup elimination
1 hour -
New photo marks Princess Charlotte ninth birthday
1 hour -
Dafeamekpor files appeal against dismissal of request to compel Akufo-Addo to accept anti-LGBTQ bill
1 hour -
Group submits RTI application seeking information on BVRs for limited registration exercise
1 hour -
They accepted my lunch offer – Kwadaso MP on money given to EC officials
1 hour -
KAIPTC launches 5-year strategic plan
2 hours -
Akwaboah Jnr stuns fans with wedding announcement
2 hours -
Chiefs not mandated to rise to greet visitors – Atuguba questions Chieftaincy Ministry justification
2 hours -
‘I did not bribe anybody, my action was misconstrued’ – MP involved in Ejisu ‘envelope’ incident
2 hours -
Respect is earned, not commanded – Raymond Atuguba tells public officials
2 hours