MobileMoney Fintech CEO warns of inevitable cyber attacks in Ghana

Shaibu Haruna, CEO of MobileMoney Fintech Limited (MMFL), has warned that cyber attacks on Ghana’s mobile money networks are “inevitable.” Speaking at a media event in Accra, Haruna emphasized that while the company is investing heavily in security tools, customers serve as the “first line and last line of defence” for their own funds.

Haruna highlighted that the rapid evolution of fintech in Ghana presents both opportunities and risks. He identified five key technological drivers expected to reshape the industry over the next 12 to 24 months: artificial intelligence (AI), open finance, embedded finance, digital assets, and instant payment systems.

To combat the increasing use of AI by fraudsters, Haruna advocated for the deployment of sophisticated AI-powered systems by financial institutions to enable real-time fraud monitoring and proactive threat response. He noted that the success of Ghana’s digital economy transformation will depend on collaboration between regulators, technology providers, and financial institutions to ensure secure and accessible systems.