INTERPOL Flags Rising Mobile Money Fraud as Ghana Records US$1.3m in Losses

Ghana lost an estimated US$1.3 million to mobile money fraud during the first quarter of 2025, highlighting the growing cybersecurity risks accompanying the country’s rapid digital financial transformation, according to the latest INTERPOL African Cyberthreat Assessment Report.

The report places Ghana among African economies facing an increase in cyber-enabled financial crimes, with fraudsters exploiting the expanding mobile payments ecosystem through phishing attacks, SIM-swap fraud, fake promotional campaigns and social engineering schemes designed to gain unauthorised access to customer accounts.

INTERPOL described mobile money fraud as the most widespread form of online financial crime across the continent, noting that 97% of African member countries surveyed identified it as a significant cybersecurity threat. The findings underscore the challenge of balancing financial inclusion with stronger digital security as mobile money adoption continues to accelerate.

The report said cybercriminals are increasingly intercepting one-time passwords (OTPs), hijacking accounts and carrying out unauthorised transactions, exposing vulnerabilities in digital payment systems and user security practices.

Beyond conventional fraud techniques, INTERPOL warned that the rapid adoption of artificial intelligence is making cyber scams more sophisticated. Criminal networks are increasingly using AI-generated phishing messages, voice cloning and other advanced impersonation tools to deceive victims and bypass traditional safeguards.

The international policing organisation called for closer cooperation between law enforcement agencies, financial institutions and telecommunications companies to strengthen the fight against cyber-enabled financial crime. It also urged governments to expand public awareness campaigns and invest in more resilient cybersecurity systems to protect users of digital financial services.

The findings reinforce growing concerns that Africa’s fast-growing digital economy must be matched by stronger cyber resilience to sustain trust in electronic payments and safeguard consumers from increasingly sophisticated financial crime.