{"id":342847,"date":"2025-05-11T20:09:02","date_gmt":"2025-05-11T20:09:02","guid":{"rendered":"https:\/\/www.ghanamma.com\/2025\/05\/11\/bog-warns-public-against-illegal-foreign-investment-scams\/"},"modified":"2025-05-11T20:09:02","modified_gmt":"2025-05-11T20:09:02","slug":"bog-warns-public-against-illegal-foreign-investment-scams","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2025\/05\/11\/bog-warns-public-against-illegal-foreign-investment-scams\/","title":{"rendered":"BoG warns public against illegal foreign investment scams"},"content":{"rendered":"<p><\/p>\n<div>\n<p class=\"\" data-start=\"135\" data-end=\"292\">The Bank of Ghana has issued a stern warning to the public about the operations of unlicensed individuals and entities masquerading as foreign investors.<\/p>\n<p class=\"\" data-start=\"294\" data-end=\"479\">According to the Central Bank, these fraudulent actors are enticing unsuspecting victims with promises of high returns\u2014activities that are in direct violation of Ghana\u2019s financial laws.<\/p>\n<p class=\"\" data-start=\"481\" data-end=\"793\">In a notice titled <em data-start=\"500\" data-end=\"552\">\u201cScam Alert \u2013 Illegal Foreign Investors in Ghana,\u201d<\/em> the Bank stated that these schemes often involve unauthorized deposit-taking activities, which are strictly prohibited for any entity not licensed under Section 4 of the Banks and Specialized Deposit-Taking Institutions Act, 2016 (Act 930).<\/p>\n<p class=\"\" data-start=\"795\" data-end=\"1169\">The Bank emphasized that \u201cit has not licensed any individuals or entities operating such foreign investment schemes\u201d and warned that anyone participating in such ventures is committing an offense.<\/p>\n<p class=\"\" data-start=\"795\" data-end=\"1169\">Offenders could face administrative penalties ranging from 500 to 100,000 penalty units, as stipulated under Section 53(3) of the Anti-Money Laundering Act, 2020 (Act 1044).<\/p>\n<p class=\"\" data-start=\"1171\" data-end=\"1221\">To safeguard themselves, the public is advised to:<\/p>\n<ul data-start=\"1223\" data-end=\"1561\">\n<li class=\"\" data-start=\"1223\" data-end=\"1309\">\n<p class=\"\" data-start=\"1225\" data-end=\"1309\">Verify the licensing status of any individual or entity before depositing funds;<\/p>\n<\/li>\n<li class=\"\" data-start=\"1310\" data-end=\"1388\">\n<p class=\"\" data-start=\"1312\" data-end=\"1388\">Transact only with financial institutions licensed by the Bank of Ghana;<\/p>\n<\/li>\n<li class=\"\" data-start=\"1389\" data-end=\"1561\">\n<p class=\"\" data-start=\"1391\" data-end=\"1561\">Report any suspicious activities to the Bank\u2019s Financial Stability Department or relevant law enforcement agencies for further investigation and possible prosecution.<\/p>\n<\/li>\n<\/ul>\n<p class=\"\" data-start=\"1563\" data-end=\"1775\">The Bank also cautioned media houses against promoting these illegal operations, urging radio, television, and online platforms to \u201cverify the legitimacy of financial advertisers before airing their content.\u201d<\/p>\n<p class=\"\" data-start=\"1777\" data-end=\"1901\">In conclusion, the Bank of Ghana called on all Ghanaians to stay vigilant and avoid falling prey to such fraudulent schemes.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Bank of Ghana has issued a stern warning to the public about the operations of unlicensed individuals and entities masquerading as foreign investors. According to the Central Bank, these fraudulent actors are enticing unsuspecting victims with promises of high returns\u2014activities that are in direct violation of Ghana\u2019s financial laws. In a notice titled \u201cScam [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":318722,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27],"tags":[],"class_list":["post-342847","post","type-post","status-publish","format-standard","has-post-thumbnail","category-local-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>BoG warns public against illegal foreign investment scams - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2025\/05\/11\/bog-warns-public-against-illegal-foreign-investment-scams\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BoG warns public against illegal foreign investment scams - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"The Bank of Ghana has issued a stern warning to the public about the operations of unlicensed individuals and entities masquerading as foreign investors. 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