In a statement dated May 9, 2025, and signed by the Secretary, Sandra Thompson, the central bank described the activities of these so-called investors as criminal and in direct violation of Ghana’s financial regulations. According to the Bank, these scammers are operating across multiple platforms, offering large financial returns to lure unsuspecting individuals into making deposits.
“The invitation to members of the public to deposit monies with these ‘foreign investors’ amounts to deposit-taking business under section 4 of the Banks and Specialized Deposit-Taking Institutions Act, 2016 (Act 930),” the Bank said, clarifying that such activities require licensing.
It emphasised, “Only a body corporate licensed by the Bank of Ghana may carry out the business of deposit-taking. These individuals or entities have not been licensed and are therefore acting unlawfully.”
The Bank further warned that perpetrators would not only be penalized but would also be required to refund all monies received.
“Such individuals or entities commit an offence and shall be penalised and required to refund all funds received,” the statement added.
In line with the Anti-Money Laundering Act, 2020 (Act 1044), the Bank noted that culprits risk facing penalties ranging from 500 to 100,000 administrative penalty units. Additionally, it called on the public to report any suspicious investment activities to law enforcement for investigation and possible prosecution.
It further stressed the need for due diligence.
“The public is encouraged to verify with the Bank of Ghana or other relevant authorities, the licensing status of an individual or entity before depositing funds,” she said. She also reminded depositors to deal only with accountable institutions licensed by the central bank to ensure legal protection.
As part of its measures to curb the menace, the Bank also called on media platforms to reject adverts from unlicensed investors.
“All media outlets including radio, television, and online channels are NOT to permit the advertisement of these illegal individuals or entities on their platforms,” it urged.
The Bank encouraged the public to reach out to its Financial Stability Department through various contact points including telephone and e-mail to report such cases or to verify entities before making deposits.
Read the full statement below :
