CSA Warns Public Over Fraudulent Online Investment Schemes as Losses Hit GHS 3.4M
The Cyber Security Authority has cautioned the public against a surge in fraudulent online investment schemes operating under various aliases, revealing that Ghanaians lost over GHS 3.4 million to such scams in the first six months of 2026.
In a public alert issued on July 6, 2026, the CSA said it recorded 352 cases between January and June, with victims collectively losing GHS 3,429,447.
The Authority noted that the scammers primarily use social media to advertise fake investment opportunities and mobile money for transactions.
According to the CSA, the fraudsters lure victims with promises of high returns and often falsely present their schemes as subsidiaries of established foreign companies.
One example cited is Darazz, a legitimate e-commerce company based in Pakistan. Other names currently being used by the scammers include Daily Trade, Ghstore, KUKA, and Edollar.
The Authority explained that victims are typically approached through targeted social media advertisements and unsolicited messages, including invitations to join WhatsApp groups.
They are told their investments will fund crypto-mining equipment leases or online business tasks.
However, once funds are transferred, victims neither receive returns nor get back their initial capital.
The scammers also frequently rebrand to avoid detection by law enforcement and regulators.
The CSA is urging the public to be cautious of online platforms promising unusually high returns and to refrain from responding to unsolicited messages or joining suspicious WhatsApp groups.
It also advised Ghanaians to verify the legitimacy of any investment opportunity through official channels or recognised regulatory bodies before committing funds.
The Authority further encouraged anyone who encounters suspicious contacts or fraudulent schemes to report to its 24-hour Cybersecurity/Cybercrime Incident Reporting Point via Call or Text to 292, WhatsApp on 0501603111, or Email at report@csa.gov.gh for investigation.
The CSA reaffirmed its commitment to collaborating with law enforcement and regulatory agencies to address cybercrime and protect the public from online fraud.
Story by Hajara Fuseini
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