Why this matters
Mobile money is how many Ghanaians save, trade and send money home. That makes wallets and phone numbers prime targets. Telcos, banks and fintechs hire analysts and fraud monitoring staff who understand these schemes, and customer facing staff need to explain them clearly.
Common mobile money tricks
- Fake customer care calls: the caller claims your account has a problem and asks you to "confirm" a PIN or a code sent to your phone. The code is really the key to your wallet or account.
- "Wrong transfer" messages: you receive an SMS that looks like a deposit alert, then a call begging you to send the money back. No real money arrived; the message was fake. Always check your balance through the official menu, never by trusting a message.
- Fake promotions and investments: "You have won a prize, pay a small fee to claim it" or "double your money in a week". The Bank of Ghana warns against double your money and online Ponzi schemes.
- Account takeover through WhatsApp: scammers take over a WhatsApp account, then message the victim's contacts asking for urgent loans by mobile money.
SIM swap
Your phone number is often the key that receives one time codes. In a SIM swap, a fraudster gets a new SIM card issued for your number, by tricking or bribing someone or by using stolen identity details. Your phone suddenly loses signal, and the fraudster now receives your calls, texts and codes. They can then reset passwords and try to reach wallets and bank accounts.