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Mobile Money Fraud in Ghana: The Influence of Selected Demographic Variables

Author

Listed:
  • Patrick Joel Turkson

    (Methodist University Ghana)

  • Joseph Gyamfi Yeboah

    (Methodist University Ghana)

  • Doris Anim Yeboah

    (Ghana Christian University College)

  • Paul Quaisie Eleke-Aboagye

    (Methodist University Ghana)

Abstract

The study examined mobile money fraud by highlighting the differences in consumer profiles using selected variables (gender, age, educational level, financial status, and knowledge of mobile money fraud). Data was collected from selected parts of the Greater Accra Region and the Eastern Region of Ghana over the period of three months. A convenience sampling technique was employed to select a total of 408 respondents, which constituted the sample size of the study. A 100% response rate was attained. Descriptive statistics, comparing means, and the ANOVA test were employed to analyze the data collected. SPSS version 26 was the statistical tool used for the analysis. The study revealed that males, individuals aged 18–25, those with no formal education, those with poor financial status, and those unaware of mobile money fraud become easy targets for mobile money fraudsters in Ghana. The study concluded that differences in gender, age, educational level, financial status and knowledge of mobile money fraud influence mobile money fraud in Ghana.

Suggested Citation

  • Patrick Joel Turkson & Joseph Gyamfi Yeboah & Doris Anim Yeboah & Paul Quaisie Eleke-Aboagye, 2024. "Mobile Money Fraud in Ghana: The Influence of Selected Demographic Variables," RAIS Conference Proceedings 2022-2024 0452, Research Association for Interdisciplinary Studies.
    • Handle: RePEc:smo:raiswp:0452
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    References listed on IDEAS

    as
    1. James Whisker & Mark Eshwar Lokanan, 2019. "Anti-money laundering and counter-terrorist financing threats posed by mobile money," Journal of Money Laundering Control, Emerald Group Publishing Limited, vol. 22(1), pages 158-172, January.
    2. Fuseini Mahama & Alhassan Bunyaminu & Redruth Nyaaba Ayimpoya & James Combert, 2024. "The influence of mobile money services on customers in the Bolgatanga municipality, Ghana," Edelweiss Applied Science and Technology, Learning Gate, vol. 8(4), pages 56-69.
    3. Steven Kemp & Nieves Erades Pérez, 2023. "Consumer Fraud against Older Adults in Digital Society: Examining Victimization and Its Impact," IJERPH, MDPI, vol. 20(7), pages 1-17, April.
    4. Christian Engels & Kamlesh Kumar & Dennis Philip, 2020. "Financial literacy and fraud detection," The European Journal of Finance, Taylor & Francis Journals, vol. 26(4-5), pages 420-442, March.
    5. Marguerite DeLiema & Martha Deevy & Annamaria Lusardi & Olivia S Mitchell & Deborah Carr, 2020. "Financial Fraud Among Older Americans: Evidence and Implications," The Journals of Gerontology: Series B, The Gerontological Society of America, vol. 75(4), pages 861-868.
    6. Isaac Akomea-Frimpong & Charles Andoh & Agnes Akomea-Frimpong & Yvonne Dwomoh-Okudzeto, 2019. "Control of fraud on mobile money services in Ghana: an exploratory study," Journal of Money Laundering Control, Emerald Group Publishing Limited, vol. 22(2), pages 300-317, May.
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    Keywords

    Mobile money fraud; age; gender; financial status; educational level; Ghana;
    All these keywords.

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