The Cyber Security Authority (CSA) has issued a public alert following a significant surge in online investment scams across Ghana, with losses exceeding GH¢1.9 million in 2024.
These fraudsters typically use social media, email, and text messages to reach their targets, employing fake testimonials to add legitimacy to their schemes.
Victims are encouraged to make initial investments via mobile money and are shown fake profits, which can be partially withdrawn, luring them to invest even more.
However, when victims attempt to withdraw larger amounts, they are asked to pay taxes or additional fees. Shortly after, the scammers cut off all communication, leaving victims with no access to their accounts or funds.
The CSA has warned the public to be cautious of any unsolicited investment offers, particularly those that promise quick and substantial returns with little risk.