We are elated by the news that the Bank of Zambia has commenced internal processes that it envisages will culminate in the establishment of a dedicated Fast Track Court for mobile money fraudsters.
Fast tracking investigations and prosecutions around mobile money scams will undoubtedly help sanitize the mobile money space in Zambia.
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.
For our part, we have invested heavily in enhancing customer data protection with the full adoption of biometrics solutions in our business functions including on our Zamtel Kwacha platform.
This has resulted in a slow but steady decline in the customer complaints related to mobile money scams on our network.
As Zamtel, we stand ready to offer cooperation to the Central Bank in their effort to curb the growing trend of mobile money fraud.
It is our expectation that establishing a Fast Track Court for Mobile Money Fraudsters will be a major step in reassuring our customers that their money is safe and that they can continue transacting with confidence on our mobile platform.