More scammers have been utilising mobile banking technology to obtain the secret numbers of over 74,000 people in 2015, according to the victims of the crime.
FM Addis 97.1 reports that con artists pose as banks and employ a number of misleading tactics.
Mobile banking will be used to conduct fraud and other crimes, according to Mr. Selemon Sadha, Deputy Governor of the National Bank of Ethiopia’s Supervision of Financial Institutions.
He stated that the National Bank has set up a procedure to watch over financial institutions in order to stop frauds employing technology.
Scammers can get bank customers’ personal information through a variety of techniques, said Mr. Desalegn Dawa, a cyber security expert with Information Network Security Management.
He continued, “One way is to judge numbers.”
According to Mesisa Abdisa, the head of operations for the Federal authorities Criminal Investigation Bureau, the number of crimes committed in the industry has increased, and customers are expected to report any such crimes to the authorities within 15 days.