Deeptech
News
+4
Apr 8, 2026
•
8 min read
96% of Africa's Mobile Money Fraud Is Caught by Customer Complaints, Not Systems – FinTech Needs to Fix That
South Africa lost R2.7 billion to banking fraud in 2024 as digital fraud attempts nearly doubled year-on-year. And across the continent, the GSMA reports that the vast majority of mobile money fraud is still detected because a customer picks up the phone, not because a system flags it. Orca Fraud, a Cape Town startup monitoring $5 billion in monthly transactions, argues the fix isn't better tools at individual companies. It's shared intelligence between them.
