Fraud Alert: New Strategy Used By Mobile Money Fraudsters

With the increasing number of technologies in the World, the world’s economy is gradually shifting away from the cash economy to the cashless economy(Mobile money) where people hardly carry physical money on them. With the improvement in the mobile money system in the country, people tend to keep their monies on their mobile money wallet as a way of keeping it safe and convenient.

But as the world keeps changing and new stuff coming in to keep us safe and secure so do the thieves and bad people also try to find an intelligent way to also do some harm. While keeping our monies on our mobile money wallet protects us from thievery, Internet fraudsters have also found ways of withdrawing from the mobile money wallet knowingly or unknowingly.

They keep changing their strategies as and when people become familiar with it. In this writeup I will take you through the new strategy adopted by these mobile money fraudsters to dupe users and how to identify such tricks at the initial stage before you fall victim.

Previously these mobile money fraudsters would first send you a fake alert which reads that you have received an amount on your number, after which these fraudsters will phone call you to check your mobile money balance to confirm if you’ve indeed received the said amount. And the moment you enter your pin their system will quickly withdraw every coin from your account.

The New Trick

Now, these fraudsters have modified their strategy because they are aware most momo users have got to know about this trick. What they now do is they will first send you a fake momo alert as they used to do previously and if they realize you don’t respond to the fake message, they will then call you to inform you they have mistakenly sent some money into your mobile money wallet and he or she has called the customer office so your sim will be blocked by your service provider in order to draw the money back.

ALSO READ; How To Become MTN Mobile Money Agent 2021: Easy Steps

Surprisingly, the moment he hangs up you will receive a message that reads your sim has been blocked, and truly it will be blocked because of the sophisticated technology they use. When they unblock your Sim card you will be in a hurry to check your wallet to see if your money is in place, and that is when they steal from you. They will set your mobile money account into an auto-withdrawal mode so the moment you type in your pin all your money will be withdrawn into their system without leaving even a coin in your momo wallet.

This is what you do when your sim is blocked by these fraudsters; find a different phone with a different sim and dial 100 to report the case to the customer center. They will tell you what to do to keep your money safe. And don’t forget to report the number they used to call you to the customer care

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But in case you don’t get access to any different sim and phone, don’t panic, but wait for your sim to be unblocked and quickly restart your phone, and by so doing you deactivate the fraudsters’ pending alert that will enable their system to withdraw your money anytime you dial your momo account pin.

And also make sure any mobile money alert that comes to your phone is from MTN but not just from a random phone number.

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