According to Imane Charioui, Francophone Africa Director, WorldRemit
AOUNDE, Cameroon, February 22, 2023,-/African Media Agency (AMA)/- The rapid development of mobile money technology has disrupted the financial sector in Sub-Saharan Africa, causing socio-economic transformation in many countries and growth has provided. considerable benefits for citizens looking to access reliable financial services.
In fact, Africa accounts for 70% of the world’s $1 trillion USD worth of mobile money. In 2021, Africa’s mobile money transaction value increased by 39% to $701.4 billion USD from $495 billion USD in 2020, highlighting the future of banking on the continent as mobile money reduces transaction costs for users and helps households manage cash flow more effectively. , manage risk and build working capital.
In Cameroon, the rise of mobile money has enabled 98% of the population to be covered by mobile GSM networks (2G and above), accelerating financial inclusion and improving the well-being of low-income households.
However, the criminals also found the opportunity provided and the National Agency for Information and Communication Technology (ANTIC) reported that cybercrime caused a financial loss of 12.2 billion CFA Francs to the Cameroonian economy in 2021, double the losses reported in 2019. mainly due to scamming , and phishing, a technique used by fraudsters to obtain personal information to perpetrate identity theft amounting to 6 billion CFA Francs.
With these developments, managing security and privacy in a dynamic and vulnerable environment remains important. WorldRemit, a leading global payment company, has identified the four biggest money transfer scams that will occur in the industry in 2023 that Cameroonians should be aware of.
The four scams include email scams, such as taxation scams, where scammers impersonate the ATO, and online dating scams, where scammers can play on emotional triggers to get you to send money. By 2021, Interpol’s Africa Cyber Threat Assessment Report shows that the top and most important cyber threat in Africa is online fraud.
In addition, online shopping scams, such as overpayment scams, where scammers ask you to ‘return’ the overpayment before you know that your credit card has been stolen or the payment receipt is fake, and Facebook impersonation scams, including money flipping scams that promise quick money. if you invest.
WorldRemit takes online security very seriously and we know many of the tricks and techniques behind some of the most popular scams. We want to educate Cameroonians on what fraud looks like so that customers can know what to avoid and protect themselves from fraud,” said Imane Charioui, Director of Francophone Africa at WorldRemit.
“Always double-check who is asking you to send money, and if you’re not comfortable with the transaction, don’t go through with it. Also don’t use third-party intermediaries, or agents that offer transactions on your behalf, and if you need to transfer money abroad, once you’ve checked the recipient, use a trusted money transfer service like WorldRemit to make sure your money arrives. in time.”
Imane Charioui shares her top tips for avoiding these four popular money transfer scams.
Tips for avoiding email scams:
- Do not click on links or open attachments in unsolicited emails.
- Check that the sender’s email address matches the organization’s website address.
- Be careful that the email does not use your name and say something like “Dear Customer”.
- Avoid emails with a sense of urgency, asking you to act together.
- Be careful with emails with poor grammar and spelling mistakes.
- Do not share personally identifiable information with people who have contacted you without being asked. This includes banking and credit card information, date of birth, and Social Security/Social Security number.
- Keep your device updated with antivirus software to protect yourself from malware.
Tips to avoid online dating scams:
- Do not trust anyone who asks you to share money, gifts or your bank account/credit card details.
- Use social media and online channels to see if your dating profile is consistent with other online profiles.
- As a rule, we recommend that you do not send money to people unless you have met them in person or via video.
ips to avoid online shopping scams:
- Make sure the website has ‘https’ in the URL (extra ‘s’ for ‘secure’) and a small lock icon in the address bar. In fact, the site may not be trustworthy.
- Read reviews about the quality of the merchandise, and make sure you don’t buy cheap and/or fake items.
- Check the website for a clear refund policy and contact methods if you have any customer questions.
- Websites should not include an option to use IMT to make payments.
Tips for preventing impersonation fraud:
- Do not accept friend requests from people you do not know and have never met.
- Do not share your password with others.
- When signing in, use two-factor authentication.
- Do not connect to public and free Wi-Fi networks.
- Keep your browser and apps updated.
- Add an extra layer of security and use proactive cybersecurity software.
Distributed by African Media Agency (AMA) on behalf of WorldRemit.
About WorldRemit
We are a leading global payments company and, together with Sendwave, part of Zepz, a group that powers two global payment brands.
We’re disrupting an industry previously dominated by offline legacy players by taking international money transfers online – making them safer, faster and cheaper. We currently deliver from 50 countries to recipients in 130 countries, operate more than 5,000 money transfer corridors worldwide and employ more than 1,200 people worldwide.
On the sending side, WorldRemit is 100% digital (cashless), increasing convenience and increasing security. For those receiving money, the company offers a variety of options including bank deposits, cash collections, mobile airtime top-ups and mobile money.
Powered by Accel, TCV and Leapfrog – WorldRemit is headquartered in London, UK with regional offices around the globe.
www.worldremit.com
Media Contact
WorldRemit Press Office
media@worldremit.com
The post Four money transfer scams to watch out for in Cameroon in 2023 appeared first on African Media Agency.