The Chief Executive Officer of MobileMoney Fintech Limited, Shaibu Haruna, says the company is stepping up the use of artificial intelligence (AI) to detect and prevent fraud on mobile money platforms, as digital financial transactions continue to grow across Ghana.
He says the company is now relying more on advanced technology to track suspicious transactions and identify patterns linked to fraudulent activity among mobile money agents.
He explained that the shift is part of broader efforts to strengthen trust in Ghana’s fast-expanding digital payments ecosystem, where mobile money remains a dominant channel for financial transactions.
According to him, the system can now trace transaction histories once a fraud report is filed, allowing the company to identify repeated behavioural patterns and respond quickly to potential threats.
“Thanks to the power of artificial intelligence, we are strengthening our monitoring mechanisms, shifting from just rule-based applications to more behavioural analysis, which makes it a lot easier for us to narrow down the elements and deal with them,” he said in a Citi FM interview.
His comments come amid growing concerns about mobile money fraud in Ghana, where increasing digital adoption has also created new opportunities for scammers targeting unsuspecting users.
Mr Haruna noted that the integration of AI marks a significant upgrade from earlier systems that relied mainly on fixed rules to detect suspicious activity. The new approach, he said, focuses more on behavioural patterns, making it easier to isolate and investigate fraudulent actors.
He stressed that MobileMoney Fintech Limited is committed to sanitising the ecosystem and ensuring that fraudsters are swiftly identified and dealt with.
The company operates at the centre of Ghana’s mobile money industry, which has become a key pillar of the country’s financial inclusion drive over the past decade. With millions of users relying on mobile money for daily transactions, industry players have increasingly turned to technology to strengthen security and reduce losses.
As part of this broader digital transformation, financial technology firms are investing heavily in data analytics and AI tools to keep pace with evolving fraud tactics.
Mr Haruna assured that the company will continue to enhance its systems to protect users and maintain confidence in the mobile money platform, which remains critical to Ghana’s cashless economy ambitions.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Source: www.myjoyonline.com
