Spreading False MoMo Information Could Lead to Legal Action, Warns MobileMoney LTD

MobileMoney LTD has warned that it will take severe legal action against individuals or groups who spread misinformation and disinformation about Mobile Money (MoMo) and other digital financial services in the country.

According to the company, while it respects the right of individuals to share their experiences, public commentary on financial services should be based on verified facts to prevent the spread of misinformation, the Head of Legal and Reputation Management, Paapa Osei, and the Manager of Communications and Stakeholder Management, Afua Serwaa Asafo-Adjei, stated in a press release.

The company’s warning follows a viral TikTok video by the handle HealwithDiana | Nervous System, which alleged a Mobile Money fraud incident involving the content creator’s mother.

In a statement issued in Accra, MobileMoney LTD said it had conducted internal investigations into the matter and clarified the circumstances surrounding the incident.

The company’s findings revealed that, prior to the fraudulent transactions, the affected customer had engaged in a phone call with an individual later identified as a fraudster. During the interaction, the customer disclosed sensitive security details, including her MoMo App Registration One-Time Password (OTP), MoMo PIN, and Login OTP.

“These credentials enabled the fraudster to register the customer’s wallet on another device and execute unauthorised transactions,” the company stated.

MobileMoney LTD reiterated that it will never request a customer’s OTP, MoMo PIN, or any personal security code under any circumstance, stressing that every security notification sent to customers clearly warns against sharing such codes with anyone.

The company disclosed that the phone number used to contact the customer has since been blocked, blacklisted on the MoMo platform, and suspended from voice services. It added that it is collaborating with relevant partners and law enforcement authorities as part of ongoing reviews.

MobileMoney LTD urged customers to remain vigilant and avoid sharing personal security credentials with third parties. Fraud-related concerns, it advised, should be reported immediately through the MTN 419 Helpline.

While acknowledging the right of individuals to share their experiences, the company emphasised that public commentary on financial services should be guided by verified facts to prevent the spread of misinformation.

“MobileMoney LTD may take legal action or other measures it deems appropriate to safeguard its reputation and service integrity,” the statement added.

The company reaffirmed its commitment to transparency, customer protection, and the provision of a secure, dependable, and convenient digital financial platform, supported by robust security systems and continuous customer education initiatives.