Mobile Money Fraud Typologies and Mitigation Strategies

Monday 4 Mar 2024

In response to a critical gap in the framework and classification of mobile money typologies, we have conducted extensive research aimed at addressing the challenges posed by fraudulent activities within mobile money systems. This comprehensive study dives into the trends and patterns of mobile money fraud, categorising various types of fraudulent schemes and revealing impersonation as the most prevalent form, alongside identity fraud, social engineering, and SIM swap fraud.

This report not only identifies these emerging threats but also offers actionable mitigation strategies and recommendations tailored for mobile money providers, regulators, and law enforcement agencies. By equipping stakeholders with effective tools and insights, the report aims to fortify defences against mobile money fraud, thereby safeguarding trust and integrity in the utilisation of mobile money services.