Four hundred and twenty-two suspected operators of digital lending Apps (loan Apps) who engaged in cyberbulling, extortion, abuse of customer data and privacy, death threats, and intentional libelling, among others have been arrested. 

The suspects, including 419 Ghanaians, a Chinese, a Pakistani and an Indian were arrested in a joint swoop by the Cyber Security Authority (CSA), Bank of Ghana (BoG) and the Economic Organised Crime Office (EOCO) at some three locations in the Greater Accra Region. 

The three collaborating institutions launched the raid in the early hours of Monday, July 10, 2023, which forms part of a Joint Cybersecurity Committee (JCC) operations. 

The suspects, who are on bail and assisting the police in investigations work with four companies and items retrieved from them included 654 mobile phones, 22 laptop computers and 800 SIM cards. 

This was disclosed at an emergency News conference addressed by the heads of the three institutions, namely Dr Albert Antwi-Boasiako, the Director General of CSA, Dr Joseph France, Director, Financial Stability, BoG who represented the First Deputy Governor of BoG, and COP Maame Yaa Tiwaa Addo-Danquah, Executive Director of EOCO. 

Dr Antwi-Boasiako said the JSS had a common goal that citizens used digital infrastructure in a safe and secure manner and that each of the institutions had the responsibility to achieve success. 

He stated that the CSA, BoG and EOCO through JCC conducted a joint investigation leading to the arrest of persons engaged in online digital lending Apps in contravention of the Cybersecurity Act, the Bank and Specialize Deposit Taking Institution Act, Electronic Transaction Act and the EOCO Act.  

He said the National Computer Emergency Response including the Authority through its point of contact since December 2022 received over 270 reports of incidence ranging from cyberbulling, extortion, abuse of customer data and privacy, death threats, and other related illegal activities. 

“The CSA subsequently launched an investigation into the reported cases and identified 150 unlicensed Applications involved and shared its findings with the relevant law enforcement agencies,” he stated. 

He said; “As part of the CSA mandate released, public alert in the form of advisory to the public in January and March warning against the installation of unlicensed Apps.” 

COP Maame Yaa Tiwaa Addo-Danquah on her part said the EOCO in keeping with its statutory mandate was enjoined to collaborate with relevant state agencies to safeguard the integrity of the financial markets in Ghana. 

“In view of this, a joint technical taskforce comprising EOCO, the Bank of Ghana and the Cyber Security Authority was constituted to clamp down on the activities of unlicensed digital loan application platforms,” she stated. 

COP Addo-Danquah reiterated that the EOCO was committed to enforcing the relevant laws on the operations of the financial markets in the country and cautioned the public to desist from having any form of engagements with illegal financial entities who ply their trade online.