Els: MBN360 BUSINESS
The Cyber Security Authority (CSA) has issued a strong public warning over the rising wave of fraudulent online investment schemes targeting Ghanaians, revealing that more than GH¢3.4 million was lost to such scams within the first six months of 2026.
CSA disclosed that it recorded 352 separate cases of investment related cyber fraud between January and June this year. The total financial loss incurred by victims across the country stood at GH¢3,429,447, underscoring what the Authority described as a growing and increasingly sophisticated threat in the digital space.
According to the CSA, the scams are largely driven through social media platforms, where fraudsters aggressively advertise so called investment opportunities promising unusually high and fast returns. These schemes are often designed to appear legitimate, using persuasive marketing content, fake testimonials, and professional looking pages to lure unsuspecting users.
Cyber Security Authority (CSA) noted that once victims show interest, they are directed to communicate via messaging platforms, including WhatsApp groups, where they are gradually convinced to invest money. Transactions are typically carried out through mobile money services, allowing scammers to quickly receive funds and avoid traditional banking scrutiny.
“These scammers lure victims with promises of high returns on investments and primarily use social media for advertisements and mobile money for transactions.”Cyber Security Authority (CSA
Scammers Exploit Social Media and Mobile Money
The Cyber Security Authority (CSA) further explained that a key tactic used by these criminal networks is impersonation of reputable international companies. Fraudsters often falsely claim to be affiliated with or operating as subsidiaries of well-known foreign brands in order to build credibility and trust among potential victims.
One such example highlighted in the alert is the exploitation of the identity of Daraz, a legitimate e-commerce company headquartered in Pakistan. The CSA indicated that fraudsters have been using variations of the brand name to deceive individuals into believing they are engaging with a trusted global platform.
Victims are frequently told that their investments will be used for activities such as crypto-mining equipment leasing, online trading tasks, or digital marketing assignments. These narratives are carefully crafted to appear technical and profitable, further encouraging victims to commit larger sums of money over time.
However, the Authority stressed that once payments are made, victims are left with no returns and no possibility of recovering their initial capital. Communication with the operators is typically cut off, and all associated online platforms or accounts are subsequently deactivated or rebranded.
“Once funds are transferred, victims neither receive any returns nor recover their initial investment.”Cyber Security Authority (CSA
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The Authority also raised concern over the evolving nature of these schemes, noting that the perpetrators frequently change names, websites, and contact details in order to evade detection by regulators and law enforcement agencies. This constant rebranding makes it difficult to track and dismantle the operations, allowing them to resurface under new identities shortly after being exposed.
Among the aliases identified by the CSA are Darazz, Daily Trade, Ghstore, KUKA, and Edollar. These names, according to the Authority, have all been linked to similar fraudulent investment structures operating across social media platforms.
Authority Issues More detailed information to Protect the Public
The CSA emphasized that the increasing sophistication of these schemes reflects a broader trend in cyber-enabled financial crime, where criminals exploit both technology and human vulnerability to achieve their objectives. It warned that the growing use of mobile money systems, while beneficial for financial inclusion, has also made it easier for fraudsters to operate quickly and anonymously.
In response to the rising threat, the Authority has urged the public to exercise extreme caution when engaging with online investment opportunities, particularly those that promise unusually high or guaranteed returns. It stressed that such offers are a major red flag and often indicate fraudulent intent.
Members of the public have also been advised to be wary of unsolicited messages, including invitations to join WhatsApp groups that claim to represent legitimate financial institutions or investment companies. The CSA noted that these groups are commonly used as a first step in building trust and gradually introducing fraudulent investment schemes.
“Always verify the legitimacy and credibility of investment opportunities by consulting official channels or recognised regulatory bodies.”Cyber Security Authority (CSA)
The CSA further encouraged individuals to report suspicious platforms, messages, or contacts to help prevent others from falling victim. It noted that early reporting is critical in disrupting fraud networks and limiting their reach.
To support public reporting and response efforts, the Authority operates a 24-hour Cybersecurity and Cybercrime Incident Reporting system. Citizens can report suspected fraud cases via phone or SMS on 292, through WhatsApp on 0501603111, or by email
The Authority reiterated that it will continue to monitor online spaces and digital platforms for emerging threats, while also intensifying public awareness campaigns aimed at educating citizens on how to identify and avoid investment fraud.
The alert comes amid growing concern over the increasing scale and sophistication of online financial scams in Ghana, with authorities warning that continued vigilance, public education, and timely reporting remain key to combating the menace.
