Mr. Eli Hini, the Chief Executive Officer (CEO) of MTN Mobile Money (MoMo) Limited, has assuaged the anxieties of Momo vendors despite rising instances of attacks on the vendors, revealing that the company has insurance packages for victims of such terrible assaults.

The CEO apologized to the vendors and admonished them to be cautious during this festive period because that is when assaults are most common.

On insurance for their vendors, Mr. Hini stated, “we have an insurance that in the unfortunate event that something like that happens [attack on agents], at least we have something to support the agent.”

“But what we are preaching to our agents is to manage their place of work; follow some basic rules that will ensure that at least they protect themselves. An agent should not work late into the night, bank your funds, invest in a safe where you keep your money away from the eyes of people.”
Mr. Hini

Mr. Hini urged agents to be more security alert and assist in the reduction of MoMo fraud. He told them to put in place the required processes to supplement what MTN Ghana and other regulatory organizations had put in place.

“We appreciate your role in helping us fight fraud… and we urge you to most importantly ensure that your place of operation is well secured to avoid burglars.

“As we begin the festive season, we would like to urge all our partners and customers to remain vigilant in the fight against fraud.”
Mr. Hini

The CEO further advised all of the company’s partners to maintain a positive image of the brand.

“Keep up the good work to project a positive image for Mobile Money Limited and for that matter our mother brand MTN Ghana and provide an exceptional experience for our customers.”
Mr. Hini

Terminating the Contracts of Fraudulent Agents

The company stressed its preparedness to terminate contracts with Mobile Money (MoMo) agents who create fake cash transactions to collect unjust rewards.

“This behavior is very bad and has the potential to destroy the business we have all worked hard to build.

“Fraudsters keep revising their strategies as we continue to intensify our education and enhance our internal process. In all of this, the three golden rules serve as our weapon in the fight: do not disclose your pin, do not let others transact on your behalf and do not discuss your wallet with any stranger.”
Mr. Hini

The CEO earlier advised consumers about the rules to follow in combating these Momo attacks

“On the issue of fraud, we have always been talking about the three golden rules and it is important that our customers keep that in mind. First of all, the fraudster is not able to be effective if he is working independently and that is why they, call send messages to consumers to try and get your mobile money PIN. Also, you should not entertain a call from someone saying you have won a promotion especially if you have not participated in one, and thirdly do not allow anybody to perform transactions on your behalf because that gives the person access to your PIN”.
Mr. Hini