The Mobile Money Advocacy Group Ghana (MoMAG) has cautioned mobile money agents to remain vigilant and strictly follow transaction procedures following a cash swap scam that reportedly cost an agent GH₵10,000.
In a Facebook post on Friday, July 17, MoMAG recounted how a customer allegedly used a clever trick to replace a bundle of GH₵10,000 with GH₵1 notes during a transaction.
According to the group, the customer initially started a transaction but later claimed they were unable to reach the intended recipient and requested that the transaction be cancelled.
The agent reportedly refunded the cash after stopping the transaction.
MoMAG said the customer returned shortly afterwards with money wrapped in the same black rubber band and handed it back to the agent.
Believing it was the same bundle she had already counted, the agent accepted the money without recounting it. However, after the customer left, she discovered that the GH₵10,000, made up of GH₵200 notes, had been replaced with GH₵1 notes.
The advocacy group described the incident as a painful reminder of the risks mobile money agents face daily and urged them to remain cautious during every transaction.
“Never trust the appearance of the bundle; verify the contents every single time. Whether the customer is new, familiar, polite, or in a hurry, recount the money before proceeding. A few extra seconds of verification can save you from losing months of hard work,” MoMAG advised.
The group warned that fraudsters often take advantage of distractions, urgency and assumptions to execute scams.
It advised agents to always recount cash whenever it leaves and returns to their hands, avoid being pressured by customers, minimise distractions during transactions and carefully verify any suspicious situation before proceeding.
MoMAG urged all mobile money operators to strictly adhere to established transaction protocols as the best protection against fraud and financial losses.
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