The Bank of Ghana (BoG) has said it has identified a money doubling scheme operating in Ghana under the pseudo name "Worldremit".
This fraudulent scheme, according to the central bank, is distinct from the globally renowned Fintech, "WorldRemit" which is in the business of international fundtransfers.
This 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 scheme is fraudulent and does not reward investors as promised. The general public is cautioned against patronage of this and other similar unsanctioned schemes. Bank of Ghana states that it has not licensed any entities orindividuals engaged in 'Money Doubling'.
The general public is therefore advised to take note as follows: i. Verify with Bank of Ghana or other relevant authorities, the licensing status of persons or entities prior to depositing funds with them;
ii. Place deposits only with institutions licensed by Bank of Ghana, in order that they may be accorded the necessary protection offered under the applicable banking laws; and
iii. Refer to Bank of Ghana's notice on 'Money Doubling' and 'Card Loading systems' titled NOTICE NO. BG/GOV/SEC/2020/12, which can be found on the Bank's website: www.bog.gov.gh.
The Bank cautions the public not to participate in this illegal and fraudulent activity to avoid loss of funds. Any individual or entity that participates in such or similar schemes does so at their own peril. The public is advised to report such activities to Bank of Ghana at: Financial Stability Department.
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