MTN MoMo Denies System Hack in GH¢11,000 Fraud Claim, Blames Customer Negligen

MTN MoMo Denies System Hack in GH¢11,000 Fraud Claim, Blames Customer Negligen

MobileMoney Limited (MoMo), the company operating MTN Ghana’s widely used mobile money service, has strongly denied any system breach following a viral social media complaint from a customer in Ghana who reported an unauthorized withdrawal of GH¢11,000 from her mobile wallet.

The incident, which sparked significant online discussion and concern, was detailed by the affected customer in a TikTok video posted on Saturday, April 12, 2025.

In the video, which has been widely shared, the woman accused MTN Ghana of failing to adequately protect user funds. She also expressed her frustration with what she described as unsatisfactory customer service after reporting the substantial loss.

“MTN Ghana, I was simply at home when I discovered that GH¢11,000 had been taken from my mobile money account. I received no calls, no requests for any transaction ID or my mobile money PIN. How is this even possible?” she questioned in the video.

She further expressed her disappointment with the telco’s response, stating, “After seeing the transaction, I contacted MTN Ghana, and they instructed me to wait for 15 working days. Are our funds truly safe? What is the problem, MTN Ghana? The customer service representative who answered my call was even rude. Is this amount of money easily replaceable these days?”

In direct response to the widely circulated video, MobileMoney LTD issued an official statement yesterday, Tuesday, April 15, 2025, clarifying that their thorough internal investigations have found no evidence of any technical security compromise within their systems

Instead, the company attributed the likely cause of the fraudulent transaction to social engineering, a prevalent tactic used by fraudsters to deceive individuals into revealing sensitive information.

“Our investigations strongly suggest that this was a case of social engineering, where an individual unknowingly shared critical personal information—such as a One-Time Password (OTP), a verification link sent via SMS, or their confidential PIN—directly with the fraudsters,” the company explained in their statement.

The mobile financial service provider reiterated its unwavering commitment to the digital security of its customers’ funds, emphasizing the importance of user vigilance. “Never, under any circumstances, share your PIN or OTP with anyone—not even someone claiming to be an employee of MTN,” the company strongly advised.

MoMo also reassured the Ghanaian public of its ongoing and intensified efforts to further strengthen its security measures and actively combat the growing threat of mobile money fraud. “We remain steadfast in our commitment to ensuring that your mobile money transactions are safe, convenient, and secure,” the statement concluded.

This incident has once again brought the increasing threat of digital fraud in Ghana’s rapidly expanding mobile money sector into sharp focus. As millions of Ghanaians rely on mobile wallets for their daily financial transactions, cybersecurity experts continue to emphasize the critical need for users to remain vigilant and exercise extreme caution, particularly against scams that rely on deception, impersonation, and the manipulation of trust.

MTN Ghana has recently pledged to significantly step up its efforts in the fight against mobile money fraud, with the company’s Chief Executive Officer assuring customers of the implementation of enhanced measures designed to tackle these increasingly sophisticated scams.

In the meantime, all mobile money users in Ghana are strongly encouraged to promptly report any suspicious activity they encounter and to independently verify the legitimacy of any unsolicited messages or calls claiming to be from MoMo or MTN Ghana.