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Wrong Momo Transactions Cannot be Reversed Instantly Without Thorough Investigations – MTN Momo Chief Regulatory, Risk, and Compliance Officer
The Chief Regulatory, Risk, and Compliance Officer for MTN Mobile Money Limited, Godwin Tamakloe, has clarified that reversing wrongful mobile money (MoMo) transactions is not a straightforward process and requires thorough investigations before any action is taken.
Speaking on the challenges surrounding MoMo fraud and wrongful transfers on Hot FM Morning Drive with the Host Don Kwabena Prah, Mr Tamakloe revealed that some individuals have attempted to exploit the system by claiming genuine transactions were made in error.
“There was a case where a customer called to complain about a wrongful transfer. However, upon investigation, we discovered it wasn’t a mistake. The person simply changed their mind after willingly sending the money,” he said.
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He explained that due to such occurrences, MTN has put in place a detailed investigative process to verify all claims of wrongful transactions. The process, according to him, takes up to 15 working days and involves contacting the recipient, temporarily blocking the recipient’s wallet, and conducting a full inquiry to ascertain the legitimacy of the claim.
“You can’t just block someone’s account without giving them a chance to respond. Both the sender and the receiver are our customers. We must follow due process,” he emphasised.
Mr Tamakloe recounted a striking example where a man who had paid his tithe to a church via MoMo later reported it as a mistaken transaction. When MTN contacted the recipient, the head pastor of the church confirmed the payment was indeed a tithe and even issued a receipt to the sender.
He urged customers to report any wrongful transactions immediately to improve the chances of a successful reversal. Additionally, he appealed for patience and cooperation during investigations, assuring the public that if a claim is found to be legitimate, the funds will be rightfully returned.
“Our priority is to protect all our customers and ensure fairness. We are committed to resolving all such matters diligently and transparently,” he concluded.
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