How fraudsters can empty your MoMo account and how to stop them
# Standfirst From fake calls and payment screenshots to stolen PINs and SIM swaps, fraudsters are using increasingly convincing tricks to steal money from Mobile Money users in Ghana. Here are the warning signs to watch for and the steps that can help protect your account.
Mobile Money has become one of the easiest ways to send, receive and store money in Ghana. But as more people use it, fraudsters are finding new ways to trick customers into giving them access to their accounts.
A fraudster may not need to steal your phone to empty your Mobile Money wallet.
Sometimes, all it takes is a convincing phone call, a fake text message, a fraudulent payment request or a victim who is persuaded to reveal a PIN or verification code.
The Ghana Cyber Security Authority (CSA) says Mobile Money fraud is among the common frauds reported to it and advises customers never to disclose their Mobile Money PINs, including to agents or telecommunications company staff.
So how can you make your Mobile Money account harder to attack?
1. Never give anyone your MoMo PIN
This is the most important rule.
Your Mobile Money PIN is private. No legitimate Mobile Money agent or telecommunications worker should need
your PIN to process a transaction for you.
If someone calls claiming to be from your network provider and asks for your PIN, treat it as a scam.
The CSA advises customers never to share their PIN with anyone, including friends, relatives, agents or telecom workers.
Do not write your PIN on your phone, wallet or anywhere another person can easily find it.
2. Be suspicious of calls claiming you have won money
One common tactic is to tell a victim that they have won a promotion, received a cash reward or been selected for a special offer.
The caller may then ask for personal information or instruct the victim to enter a code on their phone.
The promise of free money should be a warning sign.
Do not send money or reveal account information simply because someone claims to be calling from a company, government agency or financial institution.
If you are unsure, end the call and contact the organisation through a number or website you have independently verified.
3. Never reveal an OTP or verification code
A one-time password or verification code can be extremely valuable to a fraudster.
You may receive a code because someone is attempting to reset an account, register a service or gain access to an account.
If somebody calls and says, "I have sent you a code; read it back to me", do not do it.
The CSA has warned that criminals can use verification codes to compromise accounts and, in some cases, facilitate SIM-swap fraud.
Treat verification codes like passwords: keep them to yourself.
4. Do not hand your unlocked phone to an agent
The CSA specifically advises customers not to give their phones to Mobile Money agents to carry out transactions on their behalf.
If you need help with a transaction, stay in control of your phone and check what is being entered before confirming it.
This is particularly important when withdrawing or transferring large amounts.
5. Check the recipient before pressing 'send'
Fraud does not always involve sophisticated hacking.
Sometimes the mistake is simply sending money to the wrong number.
Before confirming a transaction, check the recipient's name, number and amount carefully.
Do not allow somebody standing nearby to rush you.
If you are paying a business, verify the payment details independently rather than relying solely on a number sent to you through WhatsApp or social media.
The CSA has warned about scams involving fake businesses and fraudulent payment requests, advising customers to verify contact details through trusted sources before sending money.
6. Do not trust a screenshot as proof of payment
Someone may show you a screenshot claiming they have sent money.
That does not necessarily mean the money has reached your account.
Check your own Mobile Money balance and transaction notification.
The CSA advises customers to wait for confirmation and verify transaction details before leaving a Mobile Money outlet or proceeding with a transaction.
If the money has not arrived in your account, do not hand over goods or cash simply because someone has shown you a screenshot.
7. Be careful with unexpected messages
A text message might claim that your account has been blocked, your PIN needs to be reset or that you have received a payment.
It may contain instructions designed to make you act quickly.
That urgency is often deliberate.
The CSA advises people to treat suspicious messages and calls about their Mobile Money accounts with caution and to verify information with their service provider before taking action.
Do not click suspicious links or follow instructions from unknown numbers.
8. Make your PIN difficult to guess
Avoid obvious combinations such as:
• 1234
• 1111
• 2222
• your birth year
• your date of birth
The CSA recommends using a PIN that is difficult for other people to guess while remaining memorable to you. (
Also be conscious of people watching while you enter your PIN at an agent's shop, supermarket or other public place.
9. Check your balance regularly
Do not wait until the end of the month to discover that money has disappeared.
Regularly check your Mobile Money balance and transaction history.
If you notice a transaction you did not authorise, contact your service provider immediately.
The CSA specifically recommends regularly checking Mobile Money balances and reporting suspected unauthorised withdrawals promptly.
10. Protect your SIM card as well as your wallet
Your Mobile Money account is tied to your phone number, which means your SIM card is part of the security chain.
One threat is SIM-swap fraud, where criminals attempt to obtain a replacement SIM linked to another person's number.
The Bank of Ghana has directed payment service providers to put safeguards around SIM replacement, including temporary deactivation of electronic money accounts after a SIM swap or replacement, subject to the applicable verification requirements.
If your phone suddenly loses network service without an obvious reason, do not automatically assume it is a technical problem.
Contact your network provider through its official channels and check whether there has been any unauthorised activity involving your SIM.
11. Keep personal information off public platforms
Fraudsters can use information you post online to make their scams more convincing.
Your full name, phone number, workplace, birthday and details about your family can all help someone impersonate you.
The CSA advises people to limit the amount of personal information they make publicly available to reduce the risk of identity theft and impersonation.
You do not have to stop using social media.
But ask yourself whether a stranger really needs access to information that could help them answer security questions or convince someone that they know you.
12. Do not let fear make you act quickly
Many successful scams create panic.
A caller may tell you:
Your account will be blocked.
Or:
You have received money by mistake.
Or:
Your SIM will be deactivated today.
The aim is to stop you from thinking.
Take a moment.
End the call if necessary. Verify the claim independently. Then decide what to do.
A genuine problem with your Mobile Money account can normally be checked through your network provider's official customer service channels.
What if you have already given away your PIN?
Act immediately.
Contact your Mobile Money provider through its official customer service channel and ask for assistance securing the account.
If you suspect an unauthorised transaction, report it as soon as possible.
The CSA operates a 24-hour Cybersecurity/Cybercrime Incident Reporting Point of Contact. It can be reached by calling or texting 292, via WhatsApp on 0501603111, or by email at report@csa.gov.gh.
Keep evidence such as suspicious messages, phone numbers, transaction references and screenshots. Do not delete information that could help an investigation.
What if money has already been stolen?
Report the incident immediately to your Mobile Money provider and the relevant authorities.
The longer you wait, the more difficult it may be to trace what happened.
If the matter involves a regulated financial service and you are dissatisfied with how your complaint has been handled, the Bank of Ghana also provides a complaints process for customers.
The golden rule
There is one simple rule that can prevent many Mobile Money scams:
No legitimate person needs your Mobile Money PIN or one-time verification code from you.
Not an agent.
Not a telecom worker calling unexpectedly.
Not someone claiming to have sent you money.
Not someone promising you a prize.
And not someone claiming they need your code to "reverse" a transaction.
As Ghana's digital financial system expands, the Bank of Ghana has warned that weak authentication can increase fraud risks and undermine confidence in digital financial services.
Technology can help make Mobile Money safer, but users remain an important part of the security system.
Stop. Check. Verify. Then send.
That few seconds of caution could save your money.