MobileMoney LTD, widely known as MoMo from MTN, has officially denied allegations circulating on social media that accuse the company of compromising a customer’s wallet, which allegedly led to unauthorized withdrawals.
In a formal statement, the company addressed the viral post and clarified that it had conducted a thorough internal investigation into the matter. The results, according to MobileMoney LTD, showed no indication of a system breach or compromise of its secure infrastructure.
“Our findings suggest that the customer interacted with third parties, which led to her unknowingly compromising the security of her phone,” the company stated. “This was a case of social engineering.”
The term social engineering refers to a manipulation technique used by fraudsters to trick individuals into revealing confidential information. These can include One-Time Passwords (OTPs), verification codes, account PINs, or even login credentials. Once this information is shared, scammers can gain unauthorized access to mobile wallets and other sensitive accounts.
MobileMoney LTD emphasized that while its systems remain secure, user awareness and education are equally critical in preventing fraud.
“Security features such as OTPs and PINs are specifically designed to protect our customers’ accounts,” the company explained. “However, if shared—knowingly or unknowingly—with third parties, these credentials can be exploited to access personal funds.”
The company reiterated its commitment to safeguarding customer data and funds through robust security protocols and regular system upgrades. Moreover, it highlighted ongoing efforts to educate customers about digital safety practices.
“We urge all customers to remain vigilant and never share their security credentials with anyone—even if the person claims to be an MTN employee,” the company warned.
MobileMoney LTD has been at the forefront of mobile financial services in the region, enabling millions to conduct secure transactions daily. With increased digital activity, however, cyber threats such as phishing and social engineering have become more prevalent.
To counter these threats, MoMo regularly runs customer awareness campaigns across various platforms, aiming to teach users how to identify suspicious behavior and safeguard their information.
As digital transactions continue to grow, so does the need for strong personal cybersecurity. MobileMoney LTD concluded its statement with a firm reassurance to all its customers.
“We remain fully committed to ensuring a safe and secure mobile money experience for everyone. Our priority is, and always will be, the trust and security of our users.”
Customers are encouraged to report suspicious activities immediately via official MTN and MoMo channels and to stay updated on best practices for protecting their digital wallets.
