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Social Engineering Drives Mobile Money Fraud in Ghana

Social Engineering Drives Mobile Money Fraud in Ghana

First seen 18 Oct 2026, 08:37 UTC • •
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ThreatCluster AI
ThreatCluster •October 18, 2026 at 09:39 UTC
  • •Fraudsters are increasingly using social engineering rather than hacking techniques.
  • •Victims are manipulated into disclosing sensitive information, leading to unauthorized access.
  • •Mobile money users and agents are urged to enhance vigilance and protect their credentials.

Fraudsters in Ghana are increasingly using social engineering tactics to exploit mobile money users, according to MobileMoney Fintech LTD's Senior Manager Moses Tetteh. Instead of sophisticated hacking, they manipulate victims into revealing sensitive information through trust, fear, or greed. This trend poses a significant threat to customers and mobile money agents, who are urged to remain vigilant. Tetteh emphasized that protecting access credentials is crucial for mitigating fraud risks. The discussion also highlighted the limitations of one-time passwords (OTPs) as a sole protective measure. The need for a collective effort among all participants in the digital financial ecosystem was stressed to combat this growing threat.

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Timeline

2026-10-14
CEO highlights social engineering risks
Haruna Shaibu shared a personal experience of social engineering during a Fintech Media Development Series event.
Techreviewafrica
2026-10-18
Discussion on mobile money fraud
Moses Tetteh discussed the rise of social engineering tactics at the Absa-UPSA Law School Quarterly Banking Roundtable.
Myjoyonline

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Common questions

What are social engineering tactics?
Social engineering tactics involve manipulating individuals into revealing confidential information or performing actions that compromise their security.
How can users protect themselves from fraud?
Users should be vigilant about sharing sensitive information and protect their access credentials, including PINs and OTPs.
What role do mobile money agents play in fraud prevention?
Mobile money agents are on the front lines and must also remain vigilant to help prevent fraud and protect customers.