• About
  • Advertisements
  • Terms of Use
  • Contact
Thursday, October 9, 2025
The Sikaman Times
Advertisement
  • Home
  • News
  • Business
  • Technology
  • Regional
  • Features
  • Focus
No Result
View All Result
The Sikaman Times
  • Home
  • News
  • Business
  • Technology
  • Regional
  • Features
  • Focus
No Result
View All Result
The Sikaman Times
No Result
View All Result

MoMAG warns mobile money users of cash-out fraud

by Yaa Amoakowaa Obeng
October 22, 2024
Mobile money agent
SharePost to XSendShareSend

The Mobile Money Advocacy Group Ghana (MoMAG) has cautioned mobile money users across the country to be vigilant when conducting cash-out transactions, warning of fraudulent activities by unscrupulous agents.

In a press statement dated October 22, 2024, signed by National Secretary Kingsley J. Amoako-Atta, the group highlighted the growing exploitation of customers and provided essential advice to help users safeguard themselves.

MoMAG emphasized several risks mobile money users should be aware of:

  • Handing over phones to agents: Customers are advised not to give their phones to agents during cash-out transactions. Some agents may withdraw more than the agreed amount and delete the transaction record.

  • Sharing MoMo PINS: Users are warned never to disclose their mobile money PINs to agents or anyone else. Dishonest agents may use the PINs to borrow funds from service providers, making it hard for customers to track these fraudulent activities.

  • Unauthorised withdrawals: MoMAG urged customers to verify the amount being withdrawn during transactions, as some agents may intentionally authorise more than the agreed amount, especially if the customer has vision difficulties.

  • Neglecting balance checks: Users should always check their balance immediately after completing cash-out transactions to ensure no unauthorised deductions have been made.

To safeguard against these risks, MoMAG recommended the following steps:

  • Perform cash-outs independently: Customers are encouraged to learn how to complete transactions using the *170# USSD code or the MTN mobile app for secure operations.

  • Trust limited agents: Building relationships with trusted agents can help minimise the risk of fraud.

  • Keep your PIN confidential: Users must ensure that their PIN is kept private at all times.

MoMAG reiterated its commitment to protecting mobile money users while promoting a safe and secure mobile financial ecosystem.

The statement urged customers who suspect any foul play or experience issues during transactions to report the matter to their service provider’s customer care by dialling 100 for all networks.

*****
Never miss out on the news. Get your valuable breaking news and other vital content by following The Sikaman Times on WhatsApp Channel

*****

Advertisement Advertisement
Tags: Cash-Out fraudMoMAG
Share9Tweet6SendShare2Send
Previous Post

Afenyo Markin dismisses fears of parliamentary chaos ahead of Tuesday’s session

Next Post

In Parliament: NPP caucus awaits Speaker’s pronouncement on proceedings

Related Posts

President salutes workers, reaffirms commitment to decent jobs and economic stability
General

PAC sittings: Mahama orders fast-track prosecution for public fund misuse

October 9, 2025
YEA dismisses claims of 10-month salary arrears
General

YEA dismisses claims of 10-month salary arrears

October 9, 2025
Dr. Johnson P Asiama-2
Banking & Finance

BoG to sell $1.15bn in new forex auctions to stabilise cedi

October 8, 2025
9th Parliament resumes today for Second Meeting of First Session
General

Parliament to reconvene on October 21 after postponement

October 8, 2025
2026 WCQ: Black Stars whip CAR 5-0; on brink of qualification
General

2026 WCQ: Black Stars whip CAR 5-0; on brink of qualification

October 8, 2025
Employing unposted teachers, nurses would consume nearly half of revenue – Labour Minister
Education

Employing unposted teachers, nurses would consume nearly half of revenue – Labour Minister

October 8, 2025
Next Post
Bagbin

In Parliament: NPP caucus awaits Speaker’s pronouncement on proceedings

  • Kai Lokko quits Citi FM/Channel One TV after 17 years

    Kai Lokko quits Citi FM/Channel One TV after 17 years

    38 shares
    Share 15 Tweet 10
  • PIAC faces funding shortfall after PRMA amendment

    2 shares
    Share 1 Tweet 1
  • BoG to sell $1.15bn in new forex auctions to stabilise cedi

    1 shares
    Share 0 Tweet 0
  • YEA dismisses claims of 10-month salary arrears

    1 shares
    Share 0 Tweet 0
  • PAC sittings: Mahama orders fast-track prosecution for public fund misuse

    1 shares
    Share 0 Tweet 0
The Sikaman Times

We bring you the best Premium WordPress Themes that perfect for news, magazine, personal blog, etc. Check our landing page for details.

Follow Us

Browse by Category

  • Africa
  • Ahafo
  • Art & Entertainment
  • Arts & Entertainment
  • Ashanti
  • Aviation
  • Banking & Finance
  • Bono East
  • Brong Ahafo
  • Business
  • Business
  • Central
  • Communication
  • Culture
  • Eastern
  • Economy
  • Education
  • Entrepreneurship & Local Business
  • Exclude
  • Features
  • General
  • Ghana
  • Greater Accra
  • Health
  • Health
  • International
  • International Trade
  • Lifestyle
  • Lifestyle
  • Media
  • National
  • News
  • North East
  • Northern
  • Oil & Gas
  • Oti
  • Politics
  • Politics
  • Real Estate
  • Regional
  • Relationship
  • Relationship
  • Religion
  • Savannah
  • Social
  • Social
  • Sports
  • Sports
  • Technology
  • Trade
  • Transportation
  • Uncategorized
  • Upper East
  • Upper West
  • Volta
  • Western

Recent News

President salutes workers, reaffirms commitment to decent jobs and economic stability

PAC sittings: Mahama orders fast-track prosecution for public fund misuse

October 9, 2025
YEA dismisses claims of 10-month salary arrears

YEA dismisses claims of 10-month salary arrears

October 9, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

About Us

© 2024 - The Sikaman Times

No Result
View All Result
  • Home
  • News
  • Business
  • Technology
  • Regional
  • Features
  • Focus

About Us

© 2024 - The Sikaman Times

QUICK LINKS

About

Privacy Policy

Terms Of Use

Advertisement

Contact

FOCUS

Ghana

Africa

International

CATEGORIES

General News

Business

Opinions

Politics

Technology

EXTRAS

Sports

Entertainment

Health & Wellness

STAY CONNECTED

Facebook Twitter Youtube Instagram Linkedin

© COPYRIGHT 2022-2025
The Sikaman Times