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How to avoid being a Victim of MTN Mobile Money Fraud (Safety Tips)

MTN Mobile Money is undoubtedly the biggest mobile payment solution available in Ghana today. What started as a small convenient way of conducting business transactions has rapidly changed into a platform capable of doing a bit more. Every new day, people are registering on the MTN Mobile Money platform.

As it is with any service, with the benefits, comes the bad guys, who are looking for ways to make money the easiest way. A lot of people have shared experiences with people who have been frauded on MTN Mobile Money to the extent that some believe it is an inside job at MTN.

However, we are not here to go into those details. Today, we look at safety tips to guide us so that we are not caught up in the den of the fraudsters.

Here are safety tips on how guard yourself against MTN Mobile Money Fraud:

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Keep your MTN Mobile Money PIN Private

Yes, this is the number one tip. Your Mobile Money PIN is for just you and you are not obliged to share it with anyone. Most people have claimed that personnel from MTN called to ask for their Mobile Money PIN.

Man distressed after giving out his MTN Mobile Money PIN and suffering stress.
Never give out your MTN Mobile Money Fraud

From statements that MTN has released over the years, it is clear that Mobile Money agents and MTN workers are not to ask you for your PIN to initiate any transaction on your behalf.

As a matter of security, you are not to share your PIN with your Family and Friends. Even if you do, you are to change it immediately. Keeping your PIN private will help to safeguard you against many of the fraud stories we hear concerning MTN MoMo.

Choose a strong PIN for your Mobile Money account

I believe hackers have not gotten way smarter over the years, it’s just people becoming more foolish and relaxed over security issues. When it comes to Mobile Money PINS, the situation is no different.

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You find people using their year of birth or the current year or a sequence. Researchers at the data analysis firm Data Genetics have advised people to avoid birthdate, 1234 and 8068. However, you should also avoid a sequence like 2345, 6699, 2244, 9876 etc.

You should use a PIN that would be difficult for people to guess, but easy to remember. If you currently have a weak PIN, you can change it.

How to Change MTN Mobile Money Pin

  1. Dial the MTN Mobile Money shortcode *170#
  2. Select Wallet
  3. Choose Change MM PIN
  4. Enter your old PIN
  5. Enter your new PIN to set and confirm

Verify Phone Calls and Messages purportedly from MTN

Almost all of the Mobile Money fraud stories that I have heard usually stem from either a phone call or a text message or both.

Keep in mind that MTN will send Mobile Money SMS via the name MobileMoney. Any message from suspicious phone numbers regarding your mobile money account are probably fake. They mostly follow up with instructions, which you should never follow.

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Beware of scam calls asking you to send MTN mobile money to their accounts to receive cash prizes or asking for your account details. Whenever in doubt, don’t hesitate to call MTN customer service number 100.

Confirm transactions and don’t hand your phone to Mobile Money agents

About confirmations, when you make a deposit at any MTN mobile money merchant shop or agent, make sure you receive a confirmation text before you leave. Check to be sure the text received is from MobileMoney and has the correct amount stated.

Also, when withdrawing money, confirm that the name of the MoMo Merchant is what is actually displayed before you enter your pin to confirm the transaction.

Mobile Money agent with phone in hand
Confirm all transactions before approving them.

You shouldn’t give your mobile phone to agents to do a transaction on your behalf. If you give your phone to an agent to initiate a transaction on your behalf, you expose yourself to being defrauded. However, for those who don’t know how to read or write, this may not be possible. Such people should try to go to the agent with someone they trust or work with only “trusted Mobile Money agents”, although this is not entirely fool-proof.


Finally, if you suspect any fraudulent activity on your wallet, the best thing is to Call MTN on 100 or visit their nearest Customer Service Centre to make the report or use the online portal. Like MTN Ghana has said in their numerous ” Anti Mobile Money Fraud” campaigns, “Don’t be a MUGU.”

Have you ever fallen victim to mobile money fraud or do you know someone who has been frauded via MTN Mobile Money? Share your experience.


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How to avoid being a Victim of MTN Mobile Money Fraud
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How to avoid being a Victim of MTN Mobile Money Fraud
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MTN Mobile Money Fraudsters are always looking for new ways to illegally transfer funds from your Mobile Money account and make you a Mugu. We give you tips and tricks to prevent people from "hacking" into your mobile money account. Remember to report all fraudulent activities to MTN.
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