New mobile money scam you need to know before your next cash withdrawal

new mobile money scam is targeting cash withdrawal customers by exploiting phone numbers and transaction prompts. Learn how the fraud works and how to protect yourself.

Fraudsters are using a new two-person trick to steal mobile money during withdrawals.

Victims unknowingly approve transactions initiated by a second scammer elsewhere.

Experts advise users to verify transaction details before entering their PIN.

Mobile money users are being warned about a growing scam that could leave them losing money within seconds, and all it may take is saying your phone number out loud at a mobile money vendor.

The scam is a new twist on mobile money fraud and targets people withdrawing cash from agents.

Under the normal withdrawal process, a customer visits a mobile money agent, provides their phone number, receives a prompt on their phone, approves the transaction, and then collects cash from the same agent.

However, fraudsters are reportedly exploiting this routine using a coordinated two-person method.

Here is how the alleged scam works

When a customer arrives to withdraw money, the agent asks them to say their phone number aloud, as is common at many mobile money points.

Unknown to the customer, the agent may already be on a call or initiate a call with another person, that is a second fraudster located elsewhere.

As soon as the customer mentions the phone number, the second person immediately initiates a withdrawal transaction from another mobile money terminal on your number.

The victim then receives a transaction approval prompt on their phone. Believing it is from the agent standing in front of them, you then enter their PIN to approve the transaction.

But the money is not cashed from the agent you visited. Instead, the second fraudster, the one elsewhere, receives and cashes out the money.

When the customer turns to collect cash, the agent in front claims no transaction has been completed on their end. Since the withdrawal happened through a different agent ID, the victim may struggle to immediately understand what happened.

Ask for the agent 's name and verify on your phone before approving any cash out transaction.

If any transaction feels suspicious, don't approve

Telecom operators including MTN Ghana, Telecel Ghana, and AT Ghana have repeatedly warned customers to carefully verify transaction details before approving prompts.

The Bank of Ghana has also consistently raised concerns about rising digital fraud, especially mobile money scams involving social engineering, fake calls, SIM swap fraud, and unauthorized withdrawals.

According to the Cyber Security Authority, mobile money fraud remains one of the most reported forms of digital financial crime in Ghana. Criminals increasingly rely on deception rather than hacking, manipulating victims into authorizing transactions themselves.

This scam shares similarities with previously reported fraud schemes, including fake customer care calls, “wrong transfer” scams, and fraudulent mobile money reversal requests.

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