The prevalence of digital payment systems has also led to an increase in fraud tactics and volume. Financial institutions are specifically altering their digital applications as a result.
A new upgrade from Telebr, which recently revealed having 36 million users in Ethiopia, intends to end customer fraud, according to the company.
By getting in touch, Ethio Telecom declared that it would prevent scammers from using another phone to take PIN numbers and fraudulently withdraw money from accounts.
- Only a mobile phone with the user’s personal phone number on it should be used as a service number (SIM card).
- The institution claims that using your own phone’s mobile data is the sole way to access the Internet over WiFi.