EcoCash faces public scrutiny over alleged wallet theft

Mobile money platform EcoCash is facing growing public concern after a viral audio recording alleged that users' funds are being siphoned from wallets without authorisation.

In the recording, an unidentified woman claims that money deposited into her EcoCash wallet disappeared overnight and was transferred to another account without her consent. She said that when she reported the issue to EcoCash, the funds had already been withdrawn from the recipient's account, making reversal impossible, and that affected users were directed to the police rather than having disputed transactions immediately addressed.

The recording has spread widely on social media, prompting several residents in Mutare to report similar incidents.

"It seems like the EcoCash system has been hacked. Someone sent me money last night and in the morning I found it missing. It had been transferred to another account," said one user, adding that efforts to contact the recipient were unsuccessful.

Police national spokesperson Commissioner Paul Nyathi told the press that the force is verifying the allegations with complainants, but declined to confirm or dismiss the claims at this stage.

EcoCash has responded to the claims, dismissing suggestions of a system breach and warning customers against misinformation.

"All communication on EcoCash services is issued through official EcoCash channels. Be careful and avoid misinformation," the company said, adding that its platform remains safe, secure, and fully operational.

The company also reminded users to protect personal information, including PINs and One-Time Passwords (OTPs), noting that fraudsters often exploit these details to access wallets.

Despite assurances, multiple users reported losses. Ms Metilia Shumba claimed she lost US$265, saying EcoCash advised her to report the incident to the police after the funds had been withdrawn. Another user, Miss Primerose Maramane Siziba, reported similar losses despite notifying EcoCash promptly.

Online criticism has intensified, with users questioning why suspected fraudulent transactions are not frozen immediately. "You rush to EcoCash to tell them of this mishap and they refer you to the police instead of freezing the transaction. How can money disappear without any transaction?" wrote one user, Clara TG Nandanda.

Mr More Panganayi also criticised delayed responses from EcoCash customer support, arguing that accounts receiving suspected stolen funds should be frozen pending investigation.

In Mutare, mobile money remains central to daily commerce, making the allegations particularly concerning. Residents told reporters that they either experienced similar incidents or knew people who had, fueling anxiety across the city.

Investigations into the allegations are ongoing.