Experts Warn of Rising Online Fraud, Urge Youth to Strengthen Cybersecurity Habits

The Chief Operating Officer of Fintech Solutions, Cristina J. S. Swan Awagah, has expressed concern over the increasing cases of online fraud and called for stronger cybersecurity habits particularly among young people.

Speaking at the Africa Digital Dialogue on Friday, November 7, 2025, under the theme “Beyond Mobile Money: Fintech’s Next Frontiers,” she emphasized that oversharing personal information online has become one of the easiest ways for cybercriminals to exploit individuals.

The dialogue, hosted by MG Digital in partnership with the Africa Digital Foundation, formed part of the annual Africa Digital Festival (ADF)—a major event celebrating innovation and digital transformation across the continent. This year’s edition brought together policymakers, investors, creators, and startups from over 20 African countries to promote collaboration in FinTech, AgriTech, e-Health, and Artificial Intelligence.

Cristina Awagah highlighted that as fintech adoption expands, the importance of digital literacy and online safety cannot be overstated. With many young Africans active on social media, she cautioned that weak passwords and the habit of sharing personal milestones online make users vulnerable to cyberattacks.

“A lot of fraud cases now involve the youth. We give away so much information on social media—birthdays, personal details—and even use those same details as passwords for our important accounts,” she said. “We must learn how to create strong passwords and understand what information to share and what to keep private.”

Eunice A. Ankomah, a Strategic Communications and DFS Professional, also called on financial service providers to move beyond flashy marketing campaigns and focus on building trust through customer education.

“Adoption is not driven by beautiful campaigns but by trust,” she noted. “Financial service providers must ensure that customers truly understand the services being offered. When customers are educated, they’re less likely to fall victim to fraud caused by negligence.”

She further stressed the need for inclusive communication strategies, explaining that not all customers can read or access SMS notifications.

“In customer education, it’s important to know who you’re addressing and how best they receive information. What about the elderly woman in a rural area with no formal education? How can we ensure she understands how to protect her PIN? We shouldn’t generalize—every customer needs a communication approach that works for them,” she added.

Technology and innovation expert Emmanuel Kpiki also shared how fintech institutions are tightening internal systems to protect clients’ data.

“We regularly audit our systems and ensure that when staff leave an organization, their access rights are immediately revoked,” Kpiki explained. “We’ve implemented cybersecurity directives to strengthen institutional frameworks, prevent transaction fraud, and enhance data encryption and decryption processes.”

The Africa Digital Dialogue concluded that as fintech continues to evolve, the next phase of Africa’s digital economy will depend heavily on cybersecurity, consumer trust, and financial literacy. Beyond mobile money, participants agreed that true innovation must be built on a foundation of safety, education, and ethical digital practices.