The Bank of Ghana reported that digital‑space fraud incidents climbed 98% from 2022 to 2025, as more Ghanaians turn to electronic channels for payments and transfers.
Matilda Asante Asiedu, the Second Deputy Governor, said the rise reflects a shifting financial‑crime landscape and demands a new strategy and mindset from those tasked with combating it.
Speaking at the opening of the 2026 Technical Committee Workshop of the Committee for Cooperation Between Law Enforcement Agencies and the Banking Community (OCLAB), she noted that overall fraud incidents in the financial ecosystem rose from 16,733 in 2024 to 24,778 in 2025 – a 48% jump.
While traditional banking fraud fell, the surge is driven overwhelmingly by digital transactions, and the interconnectedness of the sector means a single incident can ripple across the entire ecosystem.
“This is not just a challenge for a PSP… because think about it, a PSP’s account sits with a bank. And so if that fraud incident happens, it transcends one institution, and it affects the entire financial ecosystem,” Asiedu said.
She highlighted successful intelligence‑led operations, such as a 2023 crackdown in Accra that arrested 430 individuals, including three foreigners, and helped recover illicit funds.
To counter increasingly sophisticated criminals, COCLAB is being restructured with dedicated working groups on public sensitisation, information sharing and investigation, and a steering committee of member‑institution heads.
Asiedu stressed that COCLAB’s success should be measured by tangible outcomes: stronger intelligence sharing, successful prosecutions, asset recovery, improved compliance, greater customer awareness and a measurable drop in financial crimes.
She urged authorities to become so efficient that fraudsters will think twice before planning their next move, creating a deterrent effect.
