The Bank of Ghana (BoG) has warned of a money-doubling scheme operating in Ghana under the pseudo name “Worldremit”.

“This fraudulent scheme is distinct from the globally renowned Fintech, “’WorldRemit’ which is in the business of international fund transfers,” the BoG said in a statement.

The central bank explained that the fraudulent “scheme encourages customers to select preferred packages, following which a code is generated by the fraudsters with which they obtain the WhatsApp accounts of their victims for spurious purposes.”

The Bank of Ghana said it has not licensed any entity or individual to undertake money doubling in the country.

“Any individual or entity that participates in such or similar schemes does so at their own peril,” the BoG said.