Abstract:
The mobile money transfer service is susceptible to fraudulent activities facilitated by a virus that
enables unauthorized financial operations, specifically targeting clients engaged in online banking.
In instances of this nature, the propagation of malware facilitates the acquisition of data and login
credentials from diverse personal accounts. Nevertheless, a significant obstacle persists in
developing nations regarding their comprehension of the ramifications associated with cybercrime
in the context of mobile financial transactions. Hence, the present study sought to address the
existing information deficit by examining the effects of cybercrime on mobile money transactions
within the Moshi district.
The study adopted the mixed method approach. This implies that the study collected both
quantitative and qualitative data. Quantitative data was collected using questionnaires while
qualitative data was collected using surveys and documentary review. The sample size of the study
were 100 respondents which included entrepreneurs in Moshi district. The data was also analysed
both quantitatively and qualitatively. The research highlights the increasing trend of mobile money
transaction cybercrimes due to the widespread adoption of mobile devices and digital payment
systems. Cybercriminals exploit vulnerabilities and target unsuspecting users, adapting their tactics
to stay ahead of cybersecurity measures. The rapid increase in mobile money cybercrimes is fueled
by varying levels of digital literacy and the complexity of mobile devices and financial apps, providing
advanced tools and techniques for criminals to exploit vulnerabilities. One of the recommendations
that can be observed in the research is the promotion of increased user awareness. Users should
be provided with education regarding the diverse methods employed by cybercriminals to perpetrate
mobile money fraud.
The majority of thieves focus their efforts on targeting end users due to their limited awareness,
which serves as a vulnerability that can be exploited. User education can serve as a means of
regulation in this context. Another recommendation put out in the report is the required
implementation of frequent software updates among service providers
