The Cyber Security Authority (CSA) has raised concerns over a surge in fraudulent online investment schemes, which have resulted in hundreds of victims losing millions of Ghana cedis.

According to the Authority, it recorded 352 cases of fraudulent online investment schemes in the first six months of 2026, with victims losing a total of GH¢3,429,447.

The CSA, in a public alert issued on July 6, 2026, said the schemes operate under various aliases and pseudonyms, using social media platforms to advertise investment opportunities while relying largely on mobile money transactions to collect funds.

The Authority said the scammers often lure unsuspecting victims with promises of unusually high returns on investments, creating the impression of legitimate business opportunities.

The CSA explained that the fraudsters frequently attempt to appear credible by falsely presenting their schemes as subsidiaries or affiliates of established foreign companies.

It cited instances where scammers used the name of Daraz, a legitimate e-commerce company headquartered in Pakistan, to give their operations a false sense of legitimacy.

The fraudulent operators, the CSA said, also run targeted advertisements on social media platforms to attract potential investors, with some victims being told their funds would be used to finance crypto-mining equipment leases or online business activities.

“Victims are promised substantial returns, but once funds are transferred, they neither receive any returns nor recover their initial investment,” the Authority stated.

The CSA further warned that the perpetrators frequently rebrand their schemes to avoid detection by law enforcement agencies, regulators and members of the public.

The latest names associated with the fraudulent schemes, according to the Authority, include Daraz, Daily Trade, Ghstore, KUKA, and Edollar.

To prevent further losses, the CSA has urged the public to exercise caution when dealing with online platforms that promise unusually high investment returns.

The Authority advised individuals to avoid joining suspicious WhatsApp groups or responding to unsolicited messages claiming links with reputable organisations.

It also encouraged the public to verify investment opportunities through official channels or recognised regulatory institutions before committing funds.

The CSA said members of the public who come across suspicious activities or suspected scams should report them for investigation.

The Authority’s 24-hour Cybersecurity/Cybercrime Incident Reporting Points of Contact (PoC) can be reached via call or text on 292, WhatsApp on 0501603111, or email at report@csa.gov.gh.