The Bank of Ghana and the Securities and Exchange Commission have issued a joint alert warning the public against a fraudulent cryptocurrency investment scheme operating under the name “Daily Wealth Guide”.
The scheme relies on a doctored video circulating across social media platforms that falsely depicts the President of the Republic of Ghana, His Excellency John Dramani Mahama, endorsing the platform and promising high monetary returns to Ghanaians.
Regulators confirmed that the invitation to invest in such schemes constitutes unauthorized deposit-taking under the Banks and Specialized Deposit-Taking Institutions Act, 2016 (Act 930). Under Section 4(i) of the Act, only corporate bodies licensed directly by the central bank are legally permitted to carry out deposit-taking business in the country.
“The Bank has not licensed any entity or individual to engage in crypto investment,” the Bank of Ghana stated in an official notice released on Tuesday. “The said individuals or entities engaged in this act commit an offence and will be penalized and required to refund all funds received.”
According to the central bank, perpetrators face administrative penalties ranging from 500 to 100,000 penalty units under section 53(3) of the Anti-Money Laundering Act 2020 (Act 1044). Regulators added that those involved will be reported to law enforcement agencies for investigation and potential prosecution.
The central bank urged members of the public to verify the licensing status of any entity or individual before depositing funds, while calling on broadcast and online media organisations to vet potential advertisers.
“The Bank of Ghana wishes to notify all media outlets, including radio, television and online channels, NOT to permit the advertisement of these ‘foreign investors’ on their platforms,” the statement added.
Members of the public who encounter suspicious platforms are advised to report them to the Bank of Ghana’s Financial Stability Department via complaints.office@bog.gov.gh or by contacting the central bank’s dedicated helplines.
By: Rainbowradioonline.com/Ghana
