Ghana not yet in digital trust crisis, but warning signs are emerging - Kwami Tamakloe
Godwin Kwami Tamakloe, Chief Risk and Compliance Officer at MobileMoney Fintech Limited, cautioned on Wednesday, July 22, at the JoyNews-Hubtel dialogue on fraud's impact on Ghana's digital economy, that while Ghana has not yet reached a digital trust crisis, fear of fraud is beginning to influence consumer behaviour. He stated, "There are signals, you know, to the fact that people would say, 'I don't want to do this because I'm afraid I might be defrauded.'"
Mr. Tamakloe noted that determining the point at which a trust crisis begins is difficult, warning that waiting until digital transactions decline would be too late. He stressed that financial institutions generally have zero tolerance for fraud, meaning that even one case is an issue. Despite the warning signs, he maintained that Ghana has not yet reached a point where public confidence in digital financial services has been significant.
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Godwin Kwami Tamakloe, Chief Risk and Compliance Officer at MobileMoney Fintech Limited, warns that Ghana is showing signs of a looming digital
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