HARARE – EcoCash, Zimbabwe’s biggest mobile money platform, is once again at the centre of a storm after a surge in complaints from customers who say money is vanishing from their wallets, sometimes without sharing a PIN, OTP or clicking any suspicious link.

The alarm was amplified this week after veteran journalist Hopewell Chin’ono publicly challenged EcoCash, asking hard questions many users have quietly whispered for years: How is money being stolen from customers, and why can’t those transactions be traced or reversed?

EcoCash Blames Scammers

In response, EcoCash issued a Customer Fraud Alert, warning that scammers are targeting users with fake promotions, quick loans, cheap deals and “too-good-to-be-true” offers. According to the company, fraudsters trick victims into sharing their PINs or One-Time Passwords (OTPs), then empty their wallets.

EcoCash insists it never asks for PINs or OTPs, never requests transfers for “safe keeping”, and urges customers to avoid suspicious links, fake websites and cloned logos. The company says it is working with the police and POTRAZ to educate the public and curb digital fraud.

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But Customers Aren’t Fully Convinced

Despite the warning, many users say the explanation does not reflect their lived reality.

Some claim money was withdrawn without sharing any codes at all, receiving messages confirming successful cash-outs to agents they never visited. Others accuse EcoCash of systemic weaknesses, or worse.

One furious customer wrote:

“It’s not always the issue of OTPs. Mari dzirikumuka muma accounts dzakaenda. Sometimes wakatongogara pasina kuti wapa munhu code unotoona a message ichiti waita cashout successfully to an agent. Their system has been compromised and they just don’t want to admit it!.”

Another alleged losing US$1,830 within minutes, only to be told at an EcoCash outlet that nothing could be done.

System Flaw or Social Engineering?

At the heart of the controversy is a trust deficit. While digital fraud is real and growing globally, critics argue that a platform handling millions of transactions daily should be able to trace where stolen money is cashed out, flag suspicious activity in real time, and protect customers better.

Key unanswered questions remain:

1. Where exactly is the stolen money being withdrawn?
2. Why are some transactions irreversible
3. Are internal controls strong enough?
4. Could insiders be involved, or is this purely external fraud?

Why This Matters

EcoCash is not just an app, it is financial infrastructure for millions of Zimbabweans who rely on it for salaries, school fees, groceries and emergencies. When trust erodes, the consequences ripple across the entire economy.

As digital payments expand, customers are demanding more than alerts, they want accountability, transparency and stronger security guarantees.

Until those questions are convincingly answered, the debate will rage on:

• Are EcoCash users careless, or are they being left exposed by a system that isn’t as secure as it should be?