Investment Scam Alert: Rise of Fraudulent Investment Schemes in Ghana

Ensuring Investor Protection
SECURITIES AND EXCHANGE COMMISSION
The Securities and Exchange Commission (SEC) is the statutory body set up by the Securities Industry Act, 2016 (Act 929), as amended by the Securities Industry (Amendment) Act, 2021 (Act
1062) with the object of regulating and promoting the growth and development of an efficient, fair,
and transparent securities market in which investors and the integrity of the market are protected. By this notice, the SEC hereby cautions the public about the recent rise in fraudulent investment schemes in the country. These schemes are not licensed by the SEC and are designed solely to defraud the investing public. The public is therefore advised to be on high alert and avoid investment schemes exhibiting the following characteristics:

1. Use of Images of Public Officials and Influential Persons in Investment Adverts:
   These fraudulent schemes increasingly use the photos, videos, or names of well-known public figures, including government officials, regulators, and business leaders, without their consent to create a false sense of credibility.
2. Use of Artificial Intelligence (AI) to Mimic Voices, Videos, and Faces:
   Some of these fraudulent schemes deploy AI-generated content which imitates the voices and likeness of trusted public figures, spreading manipulated audio and video materials across social media to promote fake investment opportunities.
3. Operate as Faceless Entities on Social Media: These fraudulent operations often hide behind
   anonymous or unverifiable social media accounts, websites, or mobile applications. They do not provide credible physical addresses, license numbers, or contact people, making it difficult to trace or hold them accountable. PUBLIC NOTICE INVESTMENT SCAM ALERT – RISE OF FRAUDULENT INVESTMENT SCHEMES IN GHANA (NOTICE NO. SEC/PN/002/07/2025)

These fraudulent schemes also often promise unreasonably high returns within the shortest possible time. The SEC is actively working with relevant law enforcement agencies to investigate and dismantle these fraudulent operations and will continue to take all necessary steps to protect investors. The General Public is hereby strongly advised not to engage with or invest in any scheme that shows any of the above features. The Public is further advised to refer to the SEC through its toll-free line number 0800100065/main￾line number 0302768970-2 or alternatively send an email to info@sec.gov.gh or visit the SEC’s website, www.sec.gov.gh, to confirm the licensing status of any entity offering products or services relating to investments in the Capital Market. This Public Notice is issued pursuant to sections 3 and 208(c) of the Securities Industry Act, 2016 (Act 929) as amended. ISSUED BY ORDER OF THE SECURITIES AND EXCHANGE COMMISSION (SEC) DATED: JULY 25, 2025