Accra, Ghana//-Ghana’s Fintech service providers, regulated by the Bank of Ghana under the Payment Systems and Services Act, 2019, which enable digital payments, remittances, and financial inclusion, are considering the setting up of a coordinated Command Centre to fight rising digital payments fraud in the country.
This came to light at the maiden Fintech Partners Exchange event organised by MobileMoney Fintech LTD.
Commenting on the proposed Command Centre, the CEO of MobileMoney Fintech LTD, Shaibu Haruna, said the proposal was a laudable one.
He said the important thing is what the centre seeks to do, saying that, “The comment from the platform today is very clear that we need one integrated real-time platform that facilitates this”.
So, part of the key outcome of today will be for us to tease out these elements and then work as an industry through a regulator who has the statutory and legal power to be able to guide us to the setting up of the centre, Mr Haruna added.
He indicated that they would work with the Bank of Ghana and other allied regulators to ensure that they design a framework for them to be able to realise what they want to do.
Senior Manager for Enterprise Risk at MobileMoney LTD, Nanatunde Davis, explained that “having a command centre where we will have teams from all the fintech operators who are able to in real-time to be able to identify a fraud issue when you make a call and be able to readily address issue for you whether to hold the funds or to help you investigate or whether to suspend the number or prevent the funds from being withdrawn”.
That has come out very strongly, she stated.
The four other panelists-Head of Forensic Services, Stanbic Bank Ghana, Stephen Tefeh; Head of Internal Affairs Risk Transactions Monitoring & Revenue Assurance) at Hubtel, Ebenezer Boffour; Director of Cybercrime, Ghana Police Service, Chief Superintendent Emmanuel Gyebi; and Board Chair, MobileMoney Agents Association of Ghana (MAAG), Joshua Edmondson, described the proposed setting up of the centre as a welcoming news that could to reduction and possible elimination of digital payments fraud in the country.
