Online fraud amounts to over 2 million cedis in first 3 months of 2024 — CSA

A statement released by the Cyber Security Authority of Ghana (CSA) has revealed that over 2 million cedis has been lost to online fraud between January and March 2024.

According to figures provided by the CSA, a total of 194 cases of online fraud were reported to the authority within the first quarter of this year, with the cumulative financial loss amounting to approximately 2,404,161 cedis.

"The Cyber Security Authority (CSA) has between January and March this year, received 194 cases of online fraud with a total loss of about GH¢ 2,404,161,” the CSA reported on Thursday, March 28.

The rising incidence of online scams has become a major cause for concern, especially considering the scale of monetary losses incurred by victims.

Speaking on the modus operandi of fraudsters, the CSA noted that "Malicious actors create fake online shops or impersonate existing businesses on social media pages, offering heavily discounted goods. Victims are enticed to send money for these deals but never receive the items."

With festive seasons such as Easter and Eid al-Fitr approaching, when commercial activity peaks, the CSA has urged the public to exercise extreme caution in their online transactions.

Ghanaians have been advised not to share personal financial details or fall for "too good to be true" deals being offered by unsolicited contacts on digital platforms.