In compliance with sections 8 and 52 of the Anti-Money Laundering Act 2020 (Act 1044), the Bank of Ghana and the Securities and Exchange Commission have issued a warning to the public against con artists who promise large quantities of money to Ghanaians using cryptocurrency investment platforms.
On social media, a manipulated video purports to show His Excellency John Dramani Mahama, President of the Republic of Ghana, endorsing the investing platform known as “Daily Wealth Guide.”
Only a body corporate with a Bank of Ghana license is permitted to conduct deposit-taking operations under Section 4(i) of Act 930.
The public has been notified by the Bank of Ghana and the Securities and Exchange Commission (SEC) that no organization or individual has been granted a license by the Bank to invest in cryptocurrencies. The aforementioned people or organizations involved in this activity are guilty of a crime, will be punished, and must reimburse all money received.
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Additionally, in accordance with section 53(3) of Act 1044, such people or businesses will be subject to a penalty of 500–100,000 administrative penalty units.
Additionally, in line with sections 1, 2, 3, 4, and 5 of Act 1044, a person or organization that engages in such activities must be reported to the law enforcement agencies for investigation and prosecution.