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The Cyber Security Authority (CSA) of Ghana has issued a warning regarding an high increase in online investment scams, reporting that 149 cybercrime and cybersecurity incident have been received through points of contact (PoC) between January and August of this year, resulting in a staggering loss of GHC 1,986,057.



According to reports, this year alone has seen 63 reported cases of online scams resulting in losses of ₵421,621, highlighting a significant spike in such fraudulent activities compared to previous years.







They highlight that the criminal pattern of these fraudsters involves cloning websites of legitimate investment companies and luring victims through social media advertisements, emails, and text messages, employing fake testimonials to convince potential victims of the legitimacy of their schemes.



Additionally, victims are frequently pressured to make additional investments or pay fees, claiming these are necessary for tax or withdrawal purposes resulting many to be locked out of their accounts and unable to retrieve their funds as they can no longer contact the fraudsters. In response to this growing threat, the CSA has advised individuals to avoid pressured investments, to refrain from sharing their personal information with unverified entities and be skeptical of high investment returns with no risks.



They further urged individuals to verify investment opportunities legitimacy with the Bank of Ghana (BoG) and the Security and Exchanges Commission (SEC).







Read the full statement below 



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Cyber Security Authority Warns of Online Investment Scams Surge

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AUTHOR: Perpetual Tweneboah Koduah

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