The Cyber Security Authority (CSA) has raised alarm over a growing wave of fraudulent online investment schemes targeting Ghanaians, warning that victims have lost millions of cedis in the first half of 2026 alone.
In a public alert issued on July 6, 2026, the Authority said 352 cases of online investment fraud were recorded within six months, with total losses estimated at GHS 3,429,447. The CSA cautioned that the actual figures may be higher, as many victims fail to report incidents.
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According to the Authority, the scams are highly organised and designed to exploit economic pressures and growing interest in digital financial opportunities.
Fraudsters reportedly impersonate legitimate companies and platforms, including names such as Darazz, Daily Trade, Ghstore, KUKA and Edollar, to appear credible and attract unsuspecting victims.
The schemes are widely promoted through social media platforms, including Facebook, Instagram and WhatsApp, where victims are targeted with adverts promising high or guaranteed returns. Many are then moved into private messaging groups where pressure tactics and fake testimonials are used to encourage deposits.
The CSA explained that the fraudsters often present different investment narratives, including crypto-mining, online trading and digital task-based earnings.
In some cases, small initial “returns” are paid to build trust before larger sums are collected, and communication is cut off completely. The platforms are often later shut down or rebranded to avoid detection.
The Authority noted that economic challenges, rising cost of living and increased use of mobile money services have made many citizens more vulnerable to such schemes. It added that low digital literacy and aggressive online advertising have further contributed to the problem.
The CSA advised the public to be cautious of any platform promising unusually high or risk-free returns, stressing that legitimate investments always carry some level of risk.
It also urged citizens to avoid unsolicited investment invitations, especially those circulating through WhatsApp groups and social media ads.
The Authority further recommended that the public verify investment opportunities through recognised institutions such as the Securities and Exchange Commission (SEC Ghana) and the Bank of Ghana before committing funds.
Citizens have been encouraged to report suspicious schemes immediately through the CSA’s incident reporting channels, including phone or text line 292, WhatsApp 0501603111, and email report@csa.gov.gh.
The Cyber Security Authority, operating from the NCA Tower in Accra, said it continues to strengthen public education and collaborate with stakeholders to address rising cybercrime threats.
It also urged families and communities to educate vulnerable persons, particularly those with limited digital literacy, on how to identify and avoid online scams.
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The Authority emphasised that public vigilance remains critical as cybercriminals continue to adapt their tactics in an increasingly digital financial environment.
