Cybersecurity expert urges telcos to identify system vulnerabilities amid rising MoMo fraud

A cybersecurity expert urges telecom companies to assess their systems. Mobile money fraud is rising across the country.

Yaw Ansu Gyeabour spoke on JoyNews' NewsDesk. He warned that recent mobile money scams indicate system weaknesses. These weaknesses may be exploited by hackers or insiders.

He explained, “These incidents may be due to vulnerabilities within the system.” Some flaws might go undetected or be exploited by insiders leaking information.

His comments follow a viral TikTok video from an MTN customer. She claimed her MoMo account was emptied without her involvement. This is one of many similar complaints surfacing online recently.

MTN’s MobileMoney Limited addressed concerns about fraud on its platform. However, Mr. Gyeabour recommended urgent ethical hacking or penetration testing. This can uncover hidden flaws in their systems.

He mentioned “zero-day vulnerability,” where flaws are unknown to developers and users. Ethical hacking helps identify and fix these vulnerabilities before exploitation occurs.

Mr. Gyeabour emphasized proactive security measures over reactive ones. Mobile phones host multiple applications that could face external attacks.

He also advised mobile money users to be cautious with unsolicited calls and messages. Common fraud tactics include tricking users into sharing PINs or clicking malicious links disguised as official communications.

“Never share verification codes or PINs with anyone,” he warned, “even if they claim to be from your service provider.” Some links may contain malware that installs keyloggers on phones, recording sensitive banking details.

He cautioned against accepting cookies from unfamiliar websites too easily. Users should also avoid browsing untrustworthy sites, especially those known for adult content.