The Securities and Exchange Commission (SEC) has formed a dedicated task force to address the growing issue of online fraud schemes in the country. This move comes in response to the rise of fraudulent investment platforms and Ponzi schemes, which have increasingly targeted unsuspecting investors through online channels.
The task force will work closely with law enforcement agencies, financial institutions, and other regulatory bodies to identify, investigate, and prosecute perpetrators of these schemes.
It will also focus on raising public awareness about online fraud, educating the public on how to identify and avoid scams, and ensuring that digital investment platforms operate within legal and ethical standards.
By establishing this task force, the SEC aims to protect investors, restore confidence in the financial system, and curb the proliferation of fraudulent activities in the online investment space.
This effort is part of a broader initiative to strengthen oversight of digital financial transactions and safeguard the integrity of the investment environment in Ghana.
According to the Director General of the Securities and Exchange Commission Rev. Daniel Ogbarmey Tetteh, these initiatives are part of broader efforts to curb the rise of online scams that have been defrauding Ghanaians of their savings.
Speaking on Joy News’ PM Express Business Edition, Rev. Tetteh highlighted the urgency of addressing the proliferation of online-based fraud in the financial sector.
“Most of the fraudulent activities are online-based. That is why the SEC is working closely with the National Communications Authority to tackle these challenges,” he said.
The commission has strengthened its digital presence by offering easy access to information through its website, where investors can find a list of licensed firms. The SEC boss also encouraged investors to use the SEC’s toll-free lines for assistance, particularly in verifying the legitimacy of investment opportunities.
