As part of efforts to help to clamp –down on the nefarious activities of Mobile money fraudsters in the country; MTN Mobile Money Limited has taken another judicious step by signing a Memorandum of Understanding (MoU) with the Economic and Organised Crime (EOCO).
The mobile banking business has become an integral part of the individual Ghanaian because it is the easiest digital financial system the ordinary Ghanaian transact banking business, but it is obvious this lucrative business is gradually taken over by criminals.
The historic partnership comes as the need for more concerted efforts by stakeholders and multi-sectorial collaboration to tackle mobile money and internet fraud becomes more critical and urgent.
The Executive Director of EOCO, Maame Yaa Tiwaa Addo-Danquah, and the Chief Executive Officer (CEO) of Mobile Money Limited, Shaibu Haruna signed for their respective institutions in Accra.
Maame Yaa Tiwaa Addo-Danquah said that the partnership will help provide guidelines and training support for EOCO to stay ahead of economic and organised Crime.
“Cyber-related crimes are emerging crimes and as such some of us are not too conversant with the way evidence are gathered, and as part of the collaboration, MTN Mobile Money Limited will help us develop training content that will be suitable for the kindly of investigation we’ll have to conduct,” she explained.
She stated that the training support will help in building an investigative team that will be well informed and well knowledgeable to position themselves irrespective of their location for prosecution.
She expressed confidence that EOCO will be ahead of criminals in terms of strategy and intelligence to combat crime in the country with the training support.
The Executive Director of EOCO revealed that some months ago, her outfit got convictions for some Mobile Money Sim swaps and through collaboration with MTN and the Bankers Association, EOCO went through the Judicial processes and convicted three people with one person being apprehended.
The Deputy Executive Director of EOCO, Bashiru Abulai Dapilah, stressed the importance of intelligence gathering in the fight against cyber security and said Mobile Money Limited’s support was necessary.
“Our investigations must be guided by intelligence and we require the support of the telecommunication networks in order to obtain that quality of intelligence,” he said.
The Chief Executive Officer of Mobile Money Limited, Shaibu Haruna stated that to combat emerging trends around financial crimes in the country, they owe it a responsibility to work collaboratively with EOCO to support and drive the quest for customers to experience a safe environment for businesses and transactions.
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He said that Mobile Money has become an integral part of the daily lives of people and businesses and as such his outfit is saddled with the issue of fraud.
He noted that Mobile Money Limited will use the collaboration to work hard in combating the increased rate of fraud in the country.
“We are very excited about the opportunity to work with EOCO to deliver on this mandate and around the vision of staying ahead of economic and Organised Crime,” he added.
The CEO was accompanied by the Head of Legal & Corporate Affairs, Paapa Osei, the Senior Manager of Regulatory and Compliance, Godwin Tamakloe, AML Manager, Rene Ankrah and Senior Manager, Security Risk Manager, Foster Kolomdo, all of Mobile Money Limited.
