Conceptual Framework for Multi-Factor Authentication for Mobile Money Systems in Lesotho

The widespread use of mobile phones has contributed significantly to the emergence of Mobile Money Transfer Services (MMTS) in Lesotho. This invention made a great contribution to the financial sector as it bridged the gap between those who qualify for a bank account and those who have to rely on other financial services except for bank, for their financial needs. The main objective of this research study is to enhance the security of MMTS in Lesotho, and solve its security vulnerability introduced by the current method of authentication they are using. The study proposes a conceptual framework that will mitigate these issues through Multi-factor authentication using Biometric Face Recognition (BFR) technique. BFR will eliminate the chances of a fraudster providing false information to the system, therefore improving the security of the system. The other objectives include, identifying the threats that are introduced by Personal Identification Number (PIN) as a method of authentication that is currently used by MMTS in Lesotho, and how it affects the security of their system. The other specific objective of this research is to investigate and evaluate the security issues of the MMTS in Lesotho.