MTN hit by internal fraud

19 Mar 2012

Uganda’s largest cellco by subscribers, South Africa-owned MTN Uganda has been targeted by a scam, costing the company ‘billions of shillings’ (one billion Ugandan shillings =USD 400,000). According to IT News Africa which cited a statement released by the company, the scam involved two companies and may have exploited new features of MTN’s Mobile Money services. The police say that customers’ finances remain secure. The statement read: ‘MTN Uganda’s internal Money Laundering System recently detected incidents of internal fraud. The police were notified and are conducting investigations into the extent of the fraud, which restricts us from providing any specific details.’

Uganda, MTN Uganda