MobileMoney LTD has officially responded to a viral TikTok video posted by the handle ‘HealwithDiana | Nervous System’ concerning an alleged Mobile Money fraud incident.
The company says it appreciates the concerns raised but has moved swiftly to clarify the facts following internal investigations.
In a detailed statement, MobileMoney LTD explained that its findings revealed critical information about how the fraud occurred. The company emphasized that customer security remains its top priority and reiterated longstanding warnings about safeguarding sensitive credentials.
What the Investigation Revealed
According to the company, its internal review uncovered that prior to the unauthorized transactions, the affected customer, who is the mother of the content creator, engaged in a phone conversation with an individual later identified as the fraudster.
During that interaction, the customer disclosed highly sensitive security details. These included the MoMo App Registration OTP, MoMo PIN, and Login OTP. By sharing these credentials, the fraudster was able to compromise the account.
MobileMoney LTD stated that these details allowed the fraudster to register the customer’s wallet on another device and carry out unauthorized transactions. The company stressed that such security codes are strictly confidential and should never be shared with anyone under any circumstances.
Firm Security Reminder to Customers
In response to the incident, MobileMoney LTD reiterated its security policies and public advisories. The company emphasized that it does not request customers’ confidential codes. “MobileMoney LTD will never request a customer’s OTP, MoMo PIN, or any personal security code under any circumstance.” the statement added.
The statement further noted that every security notification sent to customers carries a clear warning not to disclose these codes to third parties. The company underscored that sharing such information, even unknowingly, can grant fraudsters full access to customer wallets.
The renewed warning serves as part of the company’s ongoing customer education drive, which aims to reduce digital fraud cases by promoting vigilance and awareness.
Swift Action Taken Against Fraudster
Following confirmation of the fraudulent activity, MobileMoney LTD moved to block and blacklist the phone number used to contact the customer. The number has also been suspended from voice services.
The company added that it is collaborating with relevant partners and law enforcement authorities as part of the ongoing review process. While investigations continue, MobileMoney LTD indicated that it is committed to ensuring accountability and strengthening preventive measures.
These actions demonstrate what the company describes as a zero tolerance approach to fraud within its ecosystem.
Urging Customers to Report Fraud Immediately
MobileMoney LTD is calling on customers to remain alert and proactive in protecting their digital wallets. The company strongly advised users never to share personal security credentials with anyone, including individuals who may claim to be representatives of the service. “Fraud-related concerns should be reported immediately through the MTN 419 Helpline.” it said.
The MTN 419 Helpline has been highlighted as a direct and immediate channel for customers to report suspicious calls, transactions, or potential fraud attempts. The company believes prompt reporting can significantly reduce financial losses and help authorities track fraudulent actors more effectively.
Addressing Public Commentary and Misinformation
Beyond addressing the technical aspects of the incident, MobileMoney LTD also touched on the broader issue of public discourse surrounding financial services.
The company acknowledged the right of individuals to share their experiences online. However, it emphasized the need for commentary on financial services to be guided by verified facts to avoid spreading misinformation. “At MobileMoney LTD, we remain committed to transparency, customer protection, and factual public discourse,” it noted.
The statement also indicated that the company may pursue legal action or take other appropriate measures to safeguard its reputation and service integrity where necessary. This stance reflects growing concerns within the financial services industry about the rapid spread of unverified claims on social media platforms.
Commitment to a Secure Digital Platform
MobileMoney LTD reaffirmed its commitment to providing a secure, dependable, and convenient digital financial platform. The company pointed to its robust security systems and continuous customer education initiatives as key pillars of its fraud prevention strategy.
As digital transactions continue to grow, the risk of social engineering scams and impersonation schemes also increases. The company stressed that no technological safeguard can replace customer vigilance when it comes to protecting personal credentials.
The incident serves as a reminder that fraudsters often rely on manipulation tactics rather than system breaches. By convincing customers to voluntarily disclose their security codes, criminals can bypass even the most advanced digital protections.
MobileMoney LTD concluded by encouraging customers to treat their OTPs and PINs as strictly private information. The company remains confident that through collaboration with customers, partners, and law enforcement agencies, it can maintain a secure ecosystem for millions of users.
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