It is the backbone of mobile money not just in Ghana but across much of sub-Saharan Africa, prized for working on cheap handsets in places with patchy internet coverage. That same design, though, offers little of the protection built into modern banking apps: no biometric login, no device-level encryption, none of the automated red flags that can catch a suspicious transaction before it clears. Financial regulators across the region have watched similar dynamics play out as mobile banking scaled faster than the fraud-prevention infrastructure meant to support it. Addressing dominanceHaruna also confronted, directly, a criticism that has followed his company for years: that its outsized share of Ghana’s mobile money market gives it disproportionate influence over the country’s financial system. Mobile money giant races to fight fraud as apps lag behind