Bank of Ghana warns public against ‘Daily Wealth Guide’ crypto investment scam

The Bank of Ghana (BoG) and the Securities and Exchange Commission (SEC) have cautioned the public against a fraudulent crypto investment platform known as “Daily Wealth Guide.”

The two regulators said scammers behind the platform are promising Ghanaians high returns while using a doctored video to falsely suggest that President John Dramani Mahama has endorsed the scheme.

In a notice dated September 1, the BoG and SEC cautioned the public against depositing funds with unlicensed individuals or entities, warning that those involved could face penalties, refund obligations and prosecution.

“The Bank of Ghana has not licensed any entity or individual to engage in crypto investment. The said individuals or entities engaged in this act commit an offence and will be penalized and required to refund all funds received," the notice read in part.

According to the regulators, inviting members of the public to invest in the scheme amounts to deposit-taking under the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930).

The BoG stressed that only a body corporate licensed by the Bank is permitted to undertake deposit-taking business under the law.

“Members of the public are reminded to place deposits only with institutions licensed by the Bank of Ghana and other relevant authorities.”

The regulator also directed media houses, including radio, television and online platforms, not to advertise the purported “foreign investors” or their products without first verifying their licensing status.