GHS49.5 million lost through cyber fraud from January to June this year – Cyber Security Authority reveals

The Cyber Security Authority (CSA) on Sunday, September 3, launched the 2023 National Cyber Security Awareness Month at the Ministry of Information in Accra.

At the launch, the Director-General of the Authority, Dr. Albert Antwi-Boasiako disclosed that GHS49.5 million was lost through cyber fraud between January and June this year.

Explaining that the losses were recorded from cases reported to the Authority, Dr. Albert Antwi-Boasiako noted that the sum would be higher if figures from other agencies on the joint cyber security committee including the Criminal Investigation Department of the Ghana Police Service and the Economic and Organised Crime Office (EOCO) are collated.

“…In terms of losses yes we have. Even though what I’m going to share with you will be a fraction because of the earlier problem.

“From January to June of this year, in terms of financial losses, we estimate about GHS49.5 million as direct financial losses. That is again just a fraction based on the report received by the authority and I don’t think this will be possibly above 20% of the direct financial losses,” Dr. Albert Antwi-Boasiako said.

Stressing the rising issues of cybercrime, the Director General of the Cyber Security Authority called on all stakeholders to join this year’s celebration of National Cyber Security Awareness Month.

He said while government is doing its part to combat cybercrime through awareness creation, various institutions must also do the same to spread the word.

Dr. Albert Antwi-Boasiako further admonished individuals to take charge and adopt a culture of safe practices at all times when using the internet to embark on any activity online.

Ghana started National Cyber Security Awareness Month in 2017 with the establishment of the National Cyber Security Week which subsequently evolved into a month-long event under the auspices of the then National Cyber Security Secretariat.

This year, the Authority will make the celebration in October on the theme; ‘Promoting a Culture of Digital Safety’.