Growing Concerns Over System Vulnerabilities
A leading cybersecurity expert has called on telecommunications companies and mobile money operators to urgently assess their systems for potential security flaws. Yaw Ansu Gyeabour, speaking on JoyNews’ NewsDesk, warned that the recent spike in mobile money fraud indicates serious vulnerabilities that hackers or malicious insiders could exploit.
“These incidents could stem from undetected system weaknesses or even insider threats where sensitive data is leaked,” Gyeabour explained. His remarks follow a surge in customer complaints, including a viral TikTok video where an MTN customer claimed her MoMo account was deleted without authorization.
MTN Acknowledges Fraud Surge
MTN MobileMoney Limited has confirmed an increase in fraudulent activities on its platform, issuing a statement urging customers to remain cautious. However, Gyeabour argues that telecom providers must take a more proactive approach to cybersecurity.
“Telcos should conduct ethical hacking or penetration testing to uncover hidden flaws before criminals exploit them,” he advised. “There’s something called a ‘zero-day vulnerability’—a flaw unknown to developers but which hackers can manipulate. Ethical hacking helps detect and patch these gaps early.”
The Call for Stronger Security Measures
Gyeabour’s warning highlights the need for:
Regular security audits to identify system weaknesses
Enhanced fraud detection systems to monitor suspicious transactions
Stricter internal controls to prevent insider threats
Customer education on safeguarding accounts
What’s Next?
With mobile money fraud on the rise, telecom companies must prioritize cybersecurity investments to protect users and maintain trust. Failure to act could lead to increased financial losses and reputational damage.
“Prevention is better than cure,” Gyeabour stressed. “The time to act is now.”
