The Bank of Ghana says it has identified a money doubling scheme operating in the country under the pseudo name 'World Remit'.
According to Bank of Ghana, the fraudulent scheme is distinct from the globally renowned Fintech 'World Remit' which is in the business of international fund transfers.
In a statement signed by the Secretary of the Bank of Ghana, Sandra Thompson, it said "Thus scheme encourages customers to select preferred packages, following which a code is generated by the fraudsters with which they obtain the WhatsApp accounts of their victims for spurious purposes"
The statement further added that the scheme is fraudulent and does not reward investors as promised.
Ms. Thompson said "The general public should verify with Bank of Ghana or other relevant authorities, the licensing status of persons or entities prior to depositing funds with them"
She added that the public should place deposits only with institutions licensed by Bank of Ghana, in order to be accorded the necessary protection offered under the applicable banking laws.
The Bank of Ghana says it is cautioning the public against patronage of such and other similar unsanctioned schemes.
The statement also revealed that the Bank of Ghana has not licensed any entities or individuals engaged in 'Monyash Doubling'
Story by: Joshua Kwabena Smith