A recent INTERPOL report suggests that Ghanaians lost an estimated $1.3 million to mobile money fraud, marking a growing trend in cyber-enabled financial crime nationwide.

The INTERPOL African Cyberthreat Assessment Report 2026, released in June 2026, provides a continent‑wide analysis of emerging cybercrime trends, including ransomware, phishing, business email compromise, and online fraud schemes targeting African states.

The report identifies Ghana as one of the countries battling rising mobile money fraud, noting that the losses came as cybercriminals increasingly exploited digital payment platforms to target unsuspecting users.

According to the report, cybercrime has been confirmed as one of the most common types of online scam in Africa, with about 97% of the countries that responded to the INTERPOL survey saying it is a major cybercrime problem.

Criminals commonly use phishing, SIM-swap attacks, fake promotions and social engineering techniques to gain access to victims’ mobile wallets and steal funds.

“Mobile money fraud has emerged as the most prevalent online scam reported by member countries,” the report said, warning that the rapid growth of digital financial services has created new opportunities for cybercriminals.

The report highlights Kenya as another country heavily affected by the trend, where authorities detected more than 123,000 fraudulent SIM cards in 2025 that were linked to SIM-swap fraud. It says criminals increasingly exploit weaknesses in mobile payment ecosystems to intercept one-time passwords, hijack customer accounts and conduct unauthorised transactions.

Online fraud has expanded into industrial-scale operations run from organised scam centres. About 72 per cent of African countries surveyed reported the existence of such centres, many of which are linked to transnational organised crime, human trafficking and forced labour.

One of the highlights of the report is criminals adopting AI to impersonate companies to send sensitive emails to divert payments, among other forms of financial fraud.

This makes their schemes more convincing, making them harder to detect and causing more people to fall victim.

“Criminals are increasingly using artificial intelligence to create highly convincing emails impersonating company executives to divert payments and steal sensitive financial information.”

The report calls for stronger cooperation between law enforcement agencies, financial institutions and telecommunications companies to combat the growing threat.

It also urges countries to strengthen public awareness campaigns and improve cybersecurity measures to protect users of digital financial services.

Meanwhile, CSA announced over GH¢19 million in losses to cybercrime between January and September this year. This marks a 17 per cent increase in cybercrime compared to the same period last year.

The Authority’s Head of Law Enforcement and Liaison at the CSA, Colonel George Eduah Bessi, made this revelation during a cybersecurity awareness webinar organised by the Africa Centre for Digital Transformation.

He expressed concern over the growing trend of online crimes in Ghana, highlighting the dangers it poses to the economy. Earlier in the year, the authority reported a steep rise in cybercrime, with a record 2,008 cyber incidents, marking a 52 per cent rise from 2024.

He said online among the crimes, the most prevalent is online fraud, which makes up about 36% of the reported cases, including mobile money scams, fake investment schemes, phishing attacks, and cyber bullying, mostly targeted at women and children, represented 25 per cent of all reported incidents.

Colonel Bessi mentioned that his outfit has ramped up efforts to create awareness and ensure regulations compliance among users, urging individuals and businesses to adopt stronger cybersecurity practices.

He commended the Africa Centre for Digital Transformation for its ongoing efforts, stressing that such initiatives are critical to sanitising the digital ecosystem and preventing future threats.

“The rising losses highlight the urgent need for greater cybersecurity awareness across all sectors of Ghana’s digital economy,” he cautioned.

His remarks come on the back of the government’s establishment of a $50 million fund to help fight cyber crimes in the country.