The Chief Executive Officer of MobileMoney Fintech Limited, Shaibu Haruna, says the company is intensifying efforts to combat fraud through advanced artificial intelligence-powered monitoring systems.
Speaking on the Citi Breakfast Show on Monday, April 20, he explained that the firm is increasingly relying on technology to track suspicious transactions and identify recurring patterns linked to fraudulent agents.
According to him, once a fraud report is received, the system can trace transaction trails and detect patterns associated with agents frequently linked to suspicious activities, enabling swift intervention.
He further revealed that the integration of artificial intelligence has significantly strengthened the company’s monitoring mechanisms, marking a shift from traditional rule-based systems to more behaviour-driven analysis.
Mr Haruna emphasised that this transition allows the company to more precisely isolate fraudulent elements and take decisive action, as part of ongoing efforts to sanitise the broader mobile money ecosystem.
“Thanks to the power of artificial intelligence, we are strengthening our monitoring mechanisms, shifting from just rule-based applications to more behavioural analysis, which makes it a lot easier for us to narrow down the elements and deal with them.”
He assured that the company takes mobile money fraud seriously and will ensure that the activities of fraudsters on its platform are decisively addressed.
