The Risk Management and Fraud Control in Mobile Money Services Post Covid-19 in Uganda: A Case Study on Kampla District.
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Date
2023-09-06
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Uganda Christian University
Abstract
The research delved into a comprehensive exploration of risk management and fraud control within the context of post-Covid-19 mobile money services, focusing its investigation on Kampala District as a representative case study. This inquiry was guided by three core objectives: firstly, to examine the relationship between customer verification and fraud control in the study context; secondly, to examine the relationship between password strength and fraud control in the study context; and thirdly, to examine the relationship between audit checks of mobile money accounts and fraud control in the study context; Employing a case study design and adopting a purely quantitative methodology, data was collected from 40 respondents through structured questionnaires. The collected data underwent meticulous analysis using descriptive statistics.
The study uncovered a noteworthy discovery, a substantial weakness in the connection between mobile money services and robust risk management. This discovery underscores a critical issue: a substantial number of customers remain dissatisfied with the existing security measures, emphasizing the pressing demand for a more secure money transfer and payment platform. To address these concerns effectively, the study puts forward a series of recommendations. Firstly, it advocates for a tailored approach to customer verification processes that align with specific user demographics and transaction volumes. Secondly, it emphasizes the imperative for all mobile money service providers to fully comply with international regulatory frameworks governing fraud control and risk management. Finally, the study underscores the significance of conducting regular audits, a practice beneficial to both service providers and users alike. Such audits help in continually assessing the effectiveness of fraud prevention strategies and allow for necessary adjustments to maintain a consistently high level of security and risk management practices.
In summation, this research provides valuable insights into the challenges faced by mobile money services in the post-Covid-19 landscape, specifically concerning fraud control and risk management. The study's findings highlight the imperative of proactive measures, personalized solutions, regulatory compliance, and regular audits as essential components in enhancing the security and reliability of mobile money platforms. By implementing these measures, the industry can meet the evolving demands of users while assuring their financial security throughout all transactional activities.
Description
This is a dissertation.