The Top 5 Mobile Money Scams in Ghana How to Spot and Avoid Them Before You Lose Your Hard-Earned Cash

Introduction: The Double-Edged Sword of Mobile Money in Ghana

Mobile money has transformed financial transactions in Ghana, making it easier than ever to send, receive, and store money without needing a traditional bank account. Services like MTN Mobile Money (MoMo), Vodafone Cash, and AirtelTigo Money have become essential tools for millions of Ghanaians, from market traders to corporate workers.

But with convenience comes risk. Cybercriminals and fraudsters are constantly evolving their tactics, preying on unsuspecting users to steal funds, personal data, and even full control of MoMo accounts.

In this in-depth guide, we’ll break down the top 5 mobile money scams currently targeting Ghanaians, how they work, and most importantly how you can protect yourself and your loved ones from falling victim.

Scam #1: Fake Promotions & Lottery Wins (The “Too Good to Be True” Trap)

How It Works

You receive an SMS, WhatsApp message, or phone call claiming you’ve won a prize maybe from MTN, Vodafone, Coca-Cola, or even a fake “government grant.” The message looks legit, sometimes even including a fake reference number and an urgent deadline to claim your prize.

But there’s a catch:

• You must pay a “processing fee” or “tax” to receive your winnings.

• They ask for your MoMo PIN, OTP, or personal details to “verify” your identity.

• The caller or sender pressures you to act fast before the “offer expires.”

Real-Life Example

A Kumasi-based trader lost GH₵ 3,000 after receiving a call that she had won GH₵ 50,000 in an “MTN promotion.” She was asked to send GH₵ 500 as a “verification fee,” then another GH₵ 2,500 for “tax clearance.” After sending the money, the scammers disappeared.

How to Avoid This Scam

✅ Never pay to receive a prize legitimate giveaways don’t ask for money upfront.
✅ Verify promotions by calling the official customer care line (e.g., MTN: 100).
✅ Ignore too-good-to-be-true offers if it sounds unreal, it probably is.
✅ Report suspicious messages to your telco provider or the Cybercrime Unit (CID).

Scam #2: Fraudulent Customer Service Calls (The “Fake Agent” Trick)

How It Works

Scammers pose as MTN, Vodafone, or AirtelTigo customer service agents, calling you with a professional tone. They may even know your name or phone number, making the call seem legitimate.

Their goal? To trick you into giving:

• Your MoMo PIN

• A One-Time Password (OTP) sent to your phone

• Your ID details or birthdate

Once they have this, they drain your wallet instantly.

Real-Life Example

A university student in Accra lost GH₵ 2,200 after receiving a call from someone claiming to be an “MTN Fraud Investigator.” The scammer said her account was “compromised” and asked for her MoMo PIN to “secure it.” Within minutes, her money was gone.

How to Protect Yourself

✅ Never share your PIN or OTP—no legitimate agent will ask for it.
✅ Hang up and call back using the official customer care number (e.g., MTN: 100).
✅ Enable SIM lock/PIN to prevent unauthorized SIM swaps.

Scam #3: Account Blocking Threats (The “Urgent Warning” Scam)

How It Works

You get an alarming SMS or call claiming your MoMo account will be blocked unless you take immediate action. The message may say:

• “Your account has been flagged for fraud!”

• “Verify your details now or lose access!”

• “Click this link to reactivate your wallet!”

These messages create panic, pushing victims to click malicious links or share personal details.

Real-Life Example

A taxi driver in Tamale received an SMS saying his MoMo wallet was “under investigation” and would be blocked in 24 hours unless he “verified” his details via a link. He clicked it, entered his PIN, and GH₵ 1,500 was stolen.

How to Stay Safe

✅ Telcos never block accounts without prior notice.
✅ Never click suspicious links manually type official MoMo shortcodes (e.g., *170#).
✅ Check your balance directly before taking action.

Scam #4: Fake Money Transfer Notifications (The “Ghost Payment” Scam)

How It Works

Fraudsters send fake SMS receipts showing money has been sent to your MoMo, but your balance doesn’t increase. This scam often targets:

• Market traders selling goods

• Landlords receiving rent payments

• Freelancers expecting client payments

Real-Life Example

A shop owner in Kasoa sold GH₵ 800 worth of goods after receiving an SMS that payment was made. Later, she discovered no money entered her account the SMS was fake.

How to Avoid It

✅ Always confirm payment by checking your MoMo balance directly (dial *170#).
✅ Use official MoMo apps for transactions.
✅ Educate small business owners about this scam.

Scam #5: SIM Swap Fraud (The “Silent Account Takeover”)

How It Works

This is one of the most dangerous scams. Criminals convince your telco to issue a new SIM card linked to your number. Once they control your number, they:

• Reset MoMo/Bank passwords via OTP

• Drain your accounts before you notice

How to Prevent SIM Swap Fraud

✅ Add a SIM lock/PIN with your telco.
✅ Monitor network signals if your phone suddenly loses service, act fast.
✅ Use app-based 2FA (like Google Authenticator) instead of SMS OTP.

What to Do If You’ve Been Scammed

1. Call your MoMo provider immediately to freeze transactions.

2. Report to the Cybercrime Unit (CID) visit their office or file online.

3. Change all PINs & passwords linked to your MoMo/bank accounts.

4. Warn others by sharing your experience.

Final Thoughts: Stay Vigilant, Stay Safe

Mobile money is a game-changer, but scammers are always lurking. By staying informed and cautious, you can protect yourself and help others avoid financial loss.

Pro Tip: Bookmark this guide and share it with friends & family awareness is the best defense!