Fraud targeting mobile money agents in Kenya rises as use of service grows

Tuesday, January 28, 2014

The tricksters have stayed ahead of game, coming up with new schemes to defraud mobile money agents and subscribers once their older tricks are known. The result is that mobile money subscribers and agents continue to fall prey to the fraudsters scattered in all parts of the East African nation.

Initially, a fraudster would call a mobile money agent and pretend he works with a telecom offering the service and thus the firm was carrying out routine checks.

Source: The Promota Africa Magazine (link opens in a new window)

financial inclusion, mobile finance