MoMo Joins National Anti-Fraud Drive to Secure Uganda’s Digital Financial Future

CID hosts key meeting with telecoms, banks, and regulators amid rising cybercrime threats.  With digital fraud becoming an increasing threat to Uganda’s financial landscape, mobile money giant MoMo has stepped up its commitment to combat cybercrime and safeguard consumer trust. On Thursday afternoon, MoMo CEO Richard Yego joined fellow financial and telecommunications leaders at the Criminal Investigations Directorate (CID) Headquarters in Kibuli for a high-level meeting of the Financial Sector Anti-Fraud Consortium (AFC).

Convened by AIGP Tom Magambo Rwabudongo, Director of CID, the meeting brought together stakeholders from the Uganda Bankers’ Association, Uganda Communications Commission, Airtel Money Uganda, and other institutions. The focus: building a united front against the growing wave of cybercrime through strategic collaboration, capacity building, information sharing, and public awareness.

MoMo Takes the Lead

Speaking at the meeting, Yego reaffirmed MoMo’s resolve to not only protect its own ecosystem but contribute to a national strategy that strengthens trust in digital finance. “We continue to invest in strong partnerships and proactive measures to protect our customers and the ecosystem at large,” he said.

Yego highlighted MoMo’s multipronged approach to tackling fraud, which includes: Collaborating with Law Enforcement: MoMo shares critical intelligence with the CID to support investigations and prosecutions of cybercriminals. Public Awareness Campaigns: The company educates customers on detecting scams such as phishing and SIM swaps, which continue to target unsuspecting users. Technological Investment: With a 24/7 risk-monitoring team, MoMo actively tracks suspicious activity. Innovations like the MoMo virtual card have further enhanced secure digital transactions without exposing sensitive user data.

The Uganda Police Force reports that cybercrime, particularly targeting mobile money platforms, has cost the economy billions of shillings, undermining public confidence in digital services. As Uganda moves toward deeper financial inclusion and cashless transactions, securing these platforms has become more urgent than ever. The Anti-Fraud Consortium aims to strengthen institutional resilience across the financial sector by ensuring timely data sharing, training of law enforcement and judiciary personnel, and continuous public education.

By joining hands, public and private sector players hope to create a unified and robust system that prevents fraud, deters criminals, and secures digital financial progress.

The meeting marks a key milestone in Uganda’s journey toward a secure digital economy. With companies like MoMo actively supporting anti-fraud initiatives, Uganda is laying a foundation for sustained trust and growth in digital financial services—ensuring that millions of users can transact with confidence in an increasingly interconnected world.

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