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Scores of Ghanaians have decided to keep their vital information personal without disclosing or giving a hint to friends or family incase of emergency or any misfortune.

The patronage for mobile money transaction, has come to make sending and receiving money very convenient but many do not share their Personal Identification Numbers (PIN) codes with family or friends.

People have registered on MoMo and died, they don't have next of kins and did not share their PIN codes with families, so where do their monies go when they depart the land of the living.

These are some of the questions that keep bothering some Ghanaians especially those that hold mobile money accounts.

Finding answers to this and many more, Peace FM News Reporter, Deborah Agyei Amponsah spoke to Mr. Godwin Tamakloe, Senior Manager at the Anti-money Laundering, Compliance and Analytics Department of MTN in-charge of Mobile Money.

According to him families of the deceased are responsible for retrieving the monies by going through the legal procedure in case the deceased didn’t share his or her pin code before they passed on.

He said the laws governing the operation of Mobile Money services do not allow the companies to take ownership of the locked funds.

He indicated that per the laws, all the funds of the deceased persons are sent to the Central Bank if the families do not initiate processes to retrieve those funds after some period of time.

Outlining the requirements and documentation needed for the process to begin, he emphasized that it is the responsibility of the family of the deceased to follow up on the locked-up funds since the company will not know whether the customer is dead or otherwise.

He noted that letter of administration, death certificate of the deceased customer and photo ID of the person on the letter of administration are the documents needed for the processes to begin.