MoMo Reversal Theft - How to Protect Yourself from This Scam

AfriCareers

13 August 2024

5 min read

Have you ever used MoMo, the popular mobile money service in Africa? If you have, you probably know how convenient and fast it is to send and receive money with just a few clicks on your phone. But did you also know that there is a new scam that targets MoMo users and tries to steal their money? It's called MoMo reversal theft, and it's a serious threat that you need to be aware of.

MoMo Reversal Theft - How to Protect Yourself from This Scam

What is MoMo reversal theft?

MoMo reversal theft is a scam that involves a fraudster sending you a MoMo transaction with a fake or wrong reason, and then asking you to reverse it back to them. For example, they may send you money claiming that they are your relative, friend, or customer who made a mistake, and then beg you to send it back to them as soon as possible. Alternatively, they may send you money pretending that they are paying for a product or service that you offer, and then demand a refund after receiving it.

The fraudster may use various tactics to pressure you into reversing the transaction, such as threatening you with legal action, reporting you to the police, or cursing you with bad luck. They may also pretend to be an MTN agent or employee who can help you reverse the transaction faster and easier. They may even send you fake messages or calls from MTN confirming that the transaction was sent by mistake and that you need to reverse it.

However, if you fall for their tricks and reverse the transaction, you will end up losing your money. This is because the fraudster will have already withdrawn or transferred the money they sent you before you reverse it. Therefore, when you reverse the transaction, you will be sending your own money to the fraudster's account, which they will quickly withdraw or transfer again. In some cases, the fraudster may even ask you to send more money than they originally sent you, claiming that there was an error or a fee involved in the reversal process.

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How can you prevent MoMo reversal theft?

The best way to prevent MoMo reversal theft is to be vigilant and careful whenever you receive a MoMo transaction from an unknown or suspicious number. Here are some tips to help you avoid falling victim to this scam:

Always check the name and number of the sender before accepting any MoMo transaction.

If you do not recognize the sender or the reason for the transaction, do not accept it. You can also call or text the sender to confirm their identity and intention before accepting the transaction.

Never reverse any MoMo transaction without verifying its legitimacy. If someone asks you to reverse a transaction that they sent you by mistake, do not do it immediately. Instead, ask them to contact MTN customer care on 100 to initiate the reversal process themselves. Alternatively, you can contact MTN customer care on 100 yourself to confirm if the transaction was indeed sent by mistake and if it can be reversed.

Do not trust anyone who claims to be an MTN agent or employee who can help you reverse a transaction faster and easier.

MTN does not have any agents or employees who can reverse transactions on your behalf. The only way to reverse a transaction is through MTN customer care on 100 or through the self-initiated reversal feature on 1658#.

Do not send any extra money to anyone who claims that there is an error or a fee involved in the reversal process. MTN does not charge any fee for reversing transactions. If someone asks you to send more money than they originally sent you, they are trying to scam you.

Do not be intimidated or influenced by anyone who threatens or persuades you to reverse a transaction.

No one can take any legal action against you for refusing to reverse a transaction that was sent to your account legitimately. No one can also curse you with bad luck or harm your family for not reversing a transaction. These are just scare tactics used by fraudsters to manipulate you.