According to Godwin Tamakloe, the company’s Chief Risk and Compliance Officer, Mobile Money Limited is stepping up its efforts to combat fraud by banning over 400,000 scam text messages daily to safeguard consumers.
In an appearance on Channel One TV’s Breakfast Daily on Friday, May 2, Tamakloe disclosed that the business has implemented sophisticated security filters intended to identify and block questionable SMS texts before they are received by customers.
“…With the text message, it is because we have a system that we have set some rules on that block that SMS that goes to the customers,” he explained, adding, “The attack channels are an SMS, a link, or a call.
“So the system blocks the SMS because of certain words in the SMS. We can block over 400,000 SMS in a day that should have gone to customers for them to now call up and defraud.”
Tamakloe also addressed the public’s rising fear that insiders in the mobile money service chain may be connected to some fraud incidents.
He vehemently denied the allegations, telling clients that support staff do not have access to PINs or other private information that scammers could use against them.
Tamakloe called for openness from impacted consumers in response to the public conversation surrounding mobile money fraud, which has seen numerous victims share their stories on social media.
In order to help agents track down fraudulent activities and keep others from becoming victims, he urged victims to give truthful reports of how they were defrauded.
Given the ongoing sophistication of mobile money theft, Tamakloe’s remarks highlight the critical necessity for systemic protection as well as knowledgeable, watchful consumers.