The Chief Executive Officer of MobileMoney Fintech Limited, Shaibu Haruna, announced that the company is intensifying its efforts to combat fraud by implementing advanced monitoring systems powered by artificial intelligence. During an appearance on the Citi Breakfast Show on Monday, April 20, he explained that the firm is increasingly relying on technology to track suspicious transactions and identify patterns associated with fraudulent activities.
Haruna stated that when a fraud report is received, the system can trace transaction trails and detect patterns linked to agents who are frequently involved in suspicious activities. This capability allows for quick intervention. He also revealed that the integration of artificial intelligence has significantly enhanced the company’s monitoring mechanisms, shifting from traditional rule-based systems to a more behaviour-driven analysis approach.
Mr. Haruna emphasised that this transition enables the company to more effectively isolate fraudulent activities and take decisive action as part of its ongoing efforts to improve the mobile money ecosystem. “With the power of artificial intelligence, we are enhancing our monitoring mechanisms by shifting from rule-based applications to behavioural analysis. This approach allows us to more easily identify and address fraudulent elements,” he stated. He assured that the company takes mobile money fraud seriously and is committed to addressing the activities of fraudsters on its platform decisively.
Source: Patricia Boakye
