By Amoako Kwame
Chief Executive Officer of MobileMoney Fintech Limited, Shaibu Haruna has announced that the company is ramping up measures to tackle fraud by deploying advanced artificial intelligence-driven monitoring systems.
In an interview on the Citi Breakfast Show on Monday, April 20, he noted that the organization is placing greater emphasis on technology to detect unusual transaction activity and uncover patterns commonly associated with fraudulent agents.
“Thanks to the power of artificial intelligence, we are strengthening our monitoring mechanisms, shifting from just rule-based applications to more behavioral analysis, which makes it a lot easier for us to narrow down the elements and deal with them.”
He added that the adoption of artificial intelligence has greatly enhanced the company’s monitoring capabilities, signaling a move away from traditional rule-based approaches toward more behaviour-focused analysis.
He also assured customers that MTN will continue to enhance its systems to make them more robust to fight fraud, emphasizing however that there is a need for shared responsibility by all in the fight against MoMo fraud and its related issues, and that is why it is critical for customers to be vigilant and for law enforcement to also hand down deterrent sentences to fraudsters.
