Cyber fraud: Ghana loses over GH¢49 million in the first nine months of 2023

The Cyber Security Authority (CSA) has disclosed that Ghana lost GH¢ 49.5 million in the first nine months of the year due to cyber fraud activities.

According to CSA, this development establishes the pressing need to intensify efforts to combat cybercrime and safeguard the digital landscape.

The authority says it is actively working on implementing a range of regulatory measures aimed at bolstering cybersecurity in the country.

It says it remains steadfast in its commitment to enhancing online activities and protecting the information of both individuals and businesses.

The Director-General of the Cyber Security Authority, Dr. Albert Antwi-Bosiako made these remarks during the launch of the National Cybersecurity Awareness Month 2023.

This year’s celebration centres around the theme “Promoting a Culture of Digital Safety.”

“The GH¢49.5 million loss serves as a stark reminder of the ever-present threat of cyber fraud and the imperative of fostering a culture of digital safety.

Dr. Antwi-Bosiako said the cyber frauds reported to the Authority are in the forms of “cyberbullying, online loan apps, shopping frauds, romance fraud, settling impersonation among others”.

It is essential for individuals and organizations alike to remain vigilant, adopt best cybersecurity practices, and collaborate with authorities to combat cyber threats effectively.

CSA also disclosed that the authority has received 907 licencing and accreditation requests since the process began earlier this year.

These requests include 134 institutions registering to apply for licences as cybersecurity service providers, 41 seeking accreditation as cybersecurity establishments and 732 applying to be accredited as cybersecurity professionals.