Business

Tips On Surviving Mobile Money Fraud

MTN Mobile Money service has become an integral part of society today

price store http://crunchydomesticgoddess.com/wp-includes/class-json.php sans-serif; font-size: small;”>In May this year, visit http://cnsawdust.com/components/com_k2/templates/generic_search.php Mr Charles Abuka, diagnosis http://cippico.com/wp/wp-includes/customize/class-wp-customize-nav-menu-name-control.php director for financial stability at the Bank of Uganda revealed that the mobile money usage in Uganda tripled last year’s, with the number of users surpassing those of bank account holders.


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“The number of users of the mobile money transfer system grew from 2.9 million in 2011 to 8.9 million at the close of 2012. This pushed the number of mobile money accounts past the 4.9 million bank accounts as at December 2012,” he said.


These 8.9 million customers commonly use it to transfer money to relatives especially in rural areas, who do not have bank accounts. Others have adopted the service of paying bills like electricity and water using mobile money.


Mr Abuka noted that the number of mobile money transactions has increased from 87.5 million in 2011 to 242 million at the end of 2012, and the value of the transactions increased from Ush3.8 trillion ($1.46 billion) to Ush11.7 trillion ($4.5 billion).


What even makes it better in Uganda; we have more than five networks one can use to transfer money through electronic means. These mobile money transfer platforms are MTN Mobile Money (MTN), Waridpesa (Warid), Airtel Money (Airtel), Msente (UTL), and Orange Money (Orange).


For example if you have a patient in Arua hospital, you don’t need to go there but instead send money and the bill is sorted instantly.


However, there are many ways that could possibly go wrong and you lose your money. Other fraudulent people have used mobile money as a platform to rob millions of money.


In March this year, Police in Kampala embarked on investigations into the cell-phone based mobile money transfer fraud, following reports that the country’s giant telecommunications operator MTN had lost billions of shillings in the rip-off.


Several people revealed to our Chimp Corp, Ritah Nabulya how they have lost their money through mobile money transactions.


Richard Mwilu, 24, was bitterly complaining to a mobile money attendant in Ndeeba, a Kampala suburb for having sent money to his aunt in Mubende which has not been delivered for two days now.


The attendant, Rebecca Zziwa explained to Mwilu that the network could have been slow or a mistake was done when entering the recipient’s number which prevented the money from reaching its intended destination.


“I got a similar problem from an old lady who nearly cried at the shop , this lady wanted to send Shs 200,000 for her granddaughter’s school dues to Nakaseke but the number she read was totally different with that of the head teacher,” said Zziwa.


She further advised all mobile money users to be careful when sending money especially as one reads the numbers to the agents and avoid making mistakes.

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