Ghana’s rapid adoption of mobile money (MoMo) services has brought convenience to millions, but it has also exposed users to the growing threat of digital fraud.
Recent complaints indicate that some MoMo users have lost funds to scammers without ever sharing sensitive personal information, highlighting the urgent need for awareness and legal protection.
Several laws now safeguard the personal data and financial transactions of MoMo users in Ghana, including the Data Protection Act (2012), the Electronic Transactions Act (2008), the Cybersecurity Act (2020), and the Payment Systems and Services Act (2019).
The Data Protection Act ensures that telecom companies collect and process personal data, such as names, identification numbers, and phone details, only with user consent.
It obliges providers to keep information accurate, secure, and private, while giving users the right to access, correct, or delete their data. Misuse or leakage of personal information entitles users to compensation, and the law applies to any company handling Ghanaian data, regardless of where it is based.
The Electronic Transactions Act governs the security of all electronic transactions, including MoMo. It criminalises identity theft, hacking, and fraudulent activity targeting mobile wallets. Telecom providers can disclose relevant customer records to law enforcement with a court order, enabling authorities to trace offenders. This legislation applies to both local and foreign individuals, ensuring that offences committed abroad are treated as if they occurred within Ghana.
The Cybersecurity Act protects users against data breaches and scams, requiring service providers to maintain strong security, report cyberattacks, and cooperate with authorities to curb online crime. Meanwhile, the Payment Systems and Services Act guarantees fair treatment of digital finance users, including vulnerable groups such as women, the elderly, and persons with disabilities.
If something goes wrong, MoMo providers must offer accessible, free complaint channels. Complaints should be acknowledged within three working days and resolved within five to twenty days. If unsatisfied, users may escalate their concerns to the Bank of Ghana, which must respond within three days. Users are encouraged to act promptly, preserve evidence, and use official channels when reporting fraud.
Despite these protections, challenges remain. Delays in response, lack of awareness, and limited rural support continue to hinder effective resolution. Consumers are urged to never share their PINs, report fraud immediately, and educate others on safe digital practices.
Experts argue that stronger enforcement by regulators, prompt action by telecoms, and informed, proactive users are crucial to ensuring digital safety in Ghana’s booming mobile money sector.
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