In a transfer to safeguard the nation’s monetary system, Head-Fintech and Innovation, Financial institution of Ghana (BoG), Kwame Oppong has introduced the regulator’s initiative to implement a complete plan in addressing the rising menace of cell cash fraud.
He indicated that the regulator intends to interact stakeholders in rolling out the plan over coming months.
“Now we have regarded internally and thru this sector to see how we are able to work with you in live performance with different stakeholders within the struggle in opposition to fraud. Within the subsequent few months, we’re going to interact business in rolling out a complete plan to deal with the difficulty of fraud,” he stated
Talking on the MoMo FINTECH stakeholder’s discussion board, he emphasised that failure on the a part of stakeholders in collectively working to struggle fraud throughout the system might negatively have an effect on “continued and sustained use and confidence within the business”.
Mr. Oppong additional famous that the plan will significantly concentrate on how senior residents and the weak in society might be shielded from fraudsters’ schemes to allow them to “proceed to learn from the livelihood and well timed help that cell cash supplies them”.
The discussion board, organised by MTN Ghana, was held on the theme ‘Constructing belief and cooperation amongst stakeholders; The way to maximise the influence of rising applied sciences for the promotion of monetary inclusion’.
He highlighted different pragmatic steps towards the struggle in opposition to momo fraud, together with collaboration between business gamers and legislation enforcement to create an uncomfortable setting for illicit actors within the house.
In his welcome tackle, Chief Government Officer-MobileMoney Ltd. Shaibu Haruna outlined the quite a few contributions of MoMo within the final fifteen years – and reiterated the corporate’s dedication to its ambition of bringing digital and monetary companies to clients throughout the nation’s size and breadth.
He famous that to create an enabling setting that helps digital and monetary inclusion for all, they “will work collaboratively with governments, regulators, companies, FinTechs and the media amongst others”.
For his half, Chief Technical Officer-IT Consortium, Ebow Anamuah-Mensah, reiterated the necessity to broaden community connectivity – particularly to rural areas to make sure equitable entry to cell cash companies nationwide.
Moreover, he confused the numerous position of cell cash brokers – describing them as indispensable within the sector – and additional emphasised the necessity to broaden and empower them to ship higher companies.
“It’s nice to see that we’re approaching one million brokers. We have to broaden that, as a result of they’re an excellent useful resource in offering schooling to the financially illiterate. They’re a gaggle of individuals we can not do with out,” he famous.
Specializing in rising applied sciences for the promotion of monetary inclusion, he elaborated the position of AI, blockchain and improvement of extra USSD options amongst others.