Government is calling for closer cooperation among banks, telecommunications companies, regulators, law enforcement agencies and the public to combat a growing wave of financial fraud that officials warn could undermine confidence in the country’s rapidly expanding digital economy.
Deputy Minister for Communication, Digital Technology and Innovations Mohammed Adams Sukparu said fraud schemes are becoming increasingly sophisticated as more Ghanaians adopt digital financial services, creating new risks for consumers and businesses.
Speaking on behalf of Communications Minister Samuel Nartey George at the Graphic Business/Stanbic Bank Breakfast Meeting in Accra on Tuesday, Sukparu said combating financial crime would require a coordinated response from both the public and private sectors.
“Let me be clear. The government alone cannot win this battle. It requires banks to invest in security, telcos to strengthen networks, regulators to stay proactive, media to sustain awareness, and importantly, every citizen to become more vigilant, informed, and cyber-aware,” he siad.
The event, held at the Labadi Beach Hotel under the theme “Shine Your Eyes: Combating Financial Fraud in Ghana through Collaboration and Innovation,” brought together stakeholders from the financial, technology and media sectors to discuss strategies for addressing cyber-enabled crime.
Sukparu said Ghana’s digital transformation has expanded access to economic opportunities across the country, enabling citizens and businesses to participate more actively in the digital economy.
“Today, a farmer in Bawku, a trader in Makola, a student in Cape Coast, and an entrepreneur in Kumasi can all participate in the digital economy using technologies that were unimaginable just a decade ago,” he said.
However, he warned that fraudsters have adapted quickly to the country’s growing reliance on digital platforms. Common threats now include mobile money scams, phishing attacks, SIM-swap fraud, identity theft, business email compromise schemes and fraudulent investment platforms.
“Behind every statistic is a real victim… The consequences extend beyond financial loss. They undermine public confidence, threaten digital trust, and can slow the pace of innovation,” he said.
The remarks come as Ghana accelerates its digitalization agenda under President John Dramani Mahama’s administration, with government pursuing reforms aimed at strengthening cybersecurity and expanding digital services.
According to Sukparu, the Ministry is reviewing legislation governing the digital sector to address emerging risks and support future technological developments. The government has also recently launched a National Artificial Intelligence Strategy as part of broader efforts to modernize the economy.
He said authorities are working with financial institutions, telecommunications providers, regulators, cybersecurity experts and law enforcement agencies to improve fraud detection systems, enhance information sharing and strengthen incident response mechanisms.
Sukparu urged consumers to take greater responsibility for protecting themselves online by exercising caution when using digital platforms.
He advised Ghanaians to “pause before clicking suspicious links, verify information before sharing personal details, question offers that appear too good to be true, and report suspicious activities promptly.”
The deputy minister said maintaining public trust would be critical to sustaining growth in digital financial services and the broader technology sector.
“Trust is the foundation of every successful digital economy. Together, through collaboration, innovation, education, and vigilance, we can ensure that Ghana remains a safe, resilient, and trusted digital economy,” Hon. Sukparu indicated.
He also commended Graphic Communications Group for youth-focused initiatives such as the Tertiary Business Sense Challenge and Junior Graphic Parliament and praised Stanbic Bank for its efforts to promote financial inclusion and customer protection.
