Cyber Fraud: Ghanaians Lose $200M In 3 Years

Despite the consistent caution and education on cyber fraud, many people are still falling prey to the activities of criminals through the Internet, resulting in the loss of millions of US dollars to businesses and individuals in Ghana.

Last year alone, Ghanaian businesses and individuals lost $97 million to fraudsters. A total of $69 million was lost in 2017 and $35 million in 2016.

This year, businesses and individuals have already lost $7.9 million in cyber fraud.

Although the figure for this year is worrying, the Director of the Cyber Crime Unit of the Criminal Investigations Department (CID) of the Ghana Police Service, Assistant Commissioner of Police (ACP), Dr Gustav Hebert Yankson, says the figure is a significant reduction from the $97 recorded for the year 2018.