The Zimbabwe Information and Communication Technologies (ZICT) organisation has warned of an increase in the cases of mobile money. The fraud is mainly done by people who generate fake messages as proof that a transaction went through. Said ZICT,
We would like to advise stakeholders that the hardest hit part of our nation is the lower end of the market, who are vendors, small to medium enterprises, who mostly use mobile money as a means of transacting. This is the sector that is mostly affected by mobile money transaction fraud.
EcoCash has also warned people and businesses to verify transactions through messages that come on their own devices only, instead of relying on a message shown by another party.
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EcoCash is a mobile money transfer facility which is run by Econet Wireless Zimbabwe. The facility has grown in leaps and bounds since its inception and is arguably the largest mobile money transfer agent considering the huge sums of transactions that the platform is said... Read More About EcoCash