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BoG putting in strategy to combat fraud in E-payments and Mobile Money

Mr Opoku-Afari stated that the central bank will always protect people in the payment ecosystem to enhance confidence in the financial sector.

The Bank of Ghana (BoG) has said that it is working tirelessly this month to stop fraud-related activities in the country’s payment systems.

The First Deputy Governor of the Bank of Ghana, Maxwell Opoku-Afari, told Accra-based Citi FM that they are engaging the banks and telcos in order to implement the said measures.

Mr Opoku-Afari assured that “the Payment Systems Department of the BoG is regularly engaging banks and telcos that are operating E-Payments and Mobile Money transactions to try to work within guidelines and framework to ensure the safety of consumers.”

“As we use this platform in this ecosystem to drive financial inclusion we also have the protection and the stability of the financial system in mind so that whatever we do is geared towards protecting the consumer,”

He explained that the launch of the mobile interoperability platform brings the country’s payment system under a new area which requires the needed legislation to protect consumers.

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He assured the general public that the Bank of God will always protect people in the payment ecosystem to enhance confidence in the financial sector.

He was of the view that the need to protect and enhance confidence in the payment systems will also encourage government’s aim of achieving financial inclusion.

Source: Pulse Ghana