MobileMoney LTD (MoMo) has taken note of a social media post by a customer alleging that MobileMoney LTD compromised her wallet and that funds were withdrawn from her account without her consent.
According to a statement by MobileMoney LTD, investigations have revealed that there was no breach of their systems. Instead, the incident was a case of social engineering, where the customer unknowingly shared sensitive information with fraudsters.
“Our findings suggest that she engaged with some third parties, which led to her unknowingly compromising her phone’s security,” the statement read.
MobileMoney LTD emphasised that the security of customers’ accounts is of utmost importance and urged all customers to be vigilant and never share their security credentials with anyone.
“OTPs and PINs are security features meant to protect customer accounts, and sharing them can unfortunately give fraudsters access to an electronic wallet,” the statement noted. MobileMoney LTD remains committed to ensuring a safe and secure Mobile Money experience for all, implementing robust security measures and regularly educating customers on the importance of keeping their PINs and OTPs private.
“We urge all customers to be vigilant and never share their security credentials with anyone, even if the person claims to be an employee of MTN,” the statement concluded. With seventeen million registered subscribers, MobileMoney LTD is dedicated to driving financial inclusion and economic empowerment through its wide array of mobile financial services.
