The Mobile Money Advocacy Group Ghana (MoMAG) has urged mobile money agents to remain vigilant and strictly follow transaction procedures following an alleged cash swap scam that reportedly cost an agent GH₵10,000.
In a Facebook post on Friday, July 17, MoMAG recounted an incident in which a customer initiated a transaction but later claimed they could not reach the intended recipient and requested that the process be cancelled.
According to MoMAG, the agent refunded the cash to the customer after stopping the transaction. The customer allegedly returned moments later 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 verifying its contents again.
However, after the customer left, the agent reportedly discovered that the GH₵10,000 she had earlier counted in GH₵200 notes had been replaced with GH₵1 notes.
MoMAG described the incident as a painful reminder of the risks mobile money agents face and stressed the importance of verifying cash at every stage of a 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,” the group said.
The advocacy group warned that fraudsters often exploit distractions, urgency, and assumptions to deceive vendors, urging agents to remain vigilant at all times.
It advised mobile money operators to recount cash whenever it leaves and returns to their hands, avoid being rushed by customers, minimise distractions during transactions, and verify any suspicious circumstances before proceeding.
MoMAG further encouraged agents to adhere strictly to established transaction protocols as a safeguard against fraud and financial losses.
