MTN Ghana has issued a stern warning to Mobile Money (MoMo) users to avoid using easily guessable PINs, such as the last four digits of their phone numbers, following a surge in fraud incidents linked to weak security practices.
Godwin Tamakloe, Chief Regulatory, Risk, and Compliance Officer at MTN Mobile Money Limited, emphasized the risks during an interview with Hot FM, noting that cybercriminals are exploiting predictable PIN combinations to access accounts.
“Fraudsters often start by guessing PINs tied to phone numbers or simple sequences like 1234 or 0000,” Tamakloe said. Internal investigations revealed that a significant portion of fraud victims had used such vulnerable codes, leaving their wallets exposed to unauthorized access. He urged customers to adopt complex, unique PINs and update them regularly to mitigate risks.
To assist users, Tamakloe outlined steps to change MoMo PINs: Dial *170#, select Option 6 (My Wallet), choose Option 6 again (Change & Reset PIN), then follow prompts to enter current and new PINs. A confirmation message will validate the update. “Regular PIN changes with secure combinations are critical for safety,” he added, reaffirming MTN’s commitment to protecting its 18 million MoMo subscribers.
The advisory follows rising concerns over mobile money fraud in Ghana, where criminals deploy social engineering tactics and digital tools to compromise accounts. While MTN intensifies customer education and enhances security protocols, Tamakloe stressed that individual vigilance remains paramount.
Ghana’s mobile money ecosystem, a cornerstone of financial inclusion, faces persistent threats from sophisticated fraud networks. Industry analysts note that while telecom operators like MTN are bolstering defenses, public awareness of basic security measures such as avoiding birthdates or repetitive numbers as PINs is equally vital. The Ghana Police Service reported a 30% increase in digital fraud cases in 2023, underscoring the urgency of collaborative efforts between users, providers, and regulators to safeguard the platform’s integrity.