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EFFORTS TO CLAMP DOWN ON MOBILE MONEY FRAUDSTERS START

Caption here (Prudence Phiri, GPJ Zambia)

THE Central Bank is reportedly in the process to push for the establishment of fast courts to prosecute mobile money fraudsters who have evaded the subsector in recent times.

It is envisaged that once set up the courts would play a role in curbing the vice that has seen many businesses and individuals swindled through the mobile money technology.

Zamtel is the first to react to the move by the Bank of Zambia with the company’s Communications Manager Changwe Kabwe saying fast-tracking investigations and prosecutions around mobile money scams will undoubtedly help sanitize the mobile money space in Zambia.

According to a statement released yesterday, Mr Kabwe pointed out that having a functional Fast Track Court for Mobile Money fraudsters will also serve as a deterrent to would-be offenders and offer some relief to victims.

“With the impressive growth of the digital finance sector, initiatives that seek to provide an added layer of protection for the consumer are welcome,” he stated.

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