The Cyber Crime Unit of the Criminal Investigation Department (CID) has said victims lost an estimated $105.9 million through computer-generated fraud in 2018 as against $69.2 million in 2017.
The Director of the Cyber Crime Unit of the Criminal Investigation Department (CID) Headquarters, Chief Superintendent Dr Herbert Gustav Yankson, who disclosed this to Ghanaian Times yesterday, said that represented 60 per cent increase in fraud cases reported at the unit.
He indicated that the unit recorded investment fraud, inheritance fraud, romance fraud, 'sextortion' and bank-related fraud cases.
The rest are subscriber identity module (SIM) box fraud, cryptocurrency fraud, business email compromise, mobile money, remittance fraud, online forex trade fraud, intrusions, cyber stalking, publication of fake news, charlatanic advertisement amongst others.
Chief Supt Yankson said the year under review recorded an amount of 93,937 dollars lost through mobile money fraud as against 21,357 dollars in 2017, saying that is "an indication that the Ghanaian public has become so gullible that people believe whatever they are told.
"It also indicated that the use of social engineering is so rampant in the country," he added.
Chief Supt Yankson said cyber crime had increased adding that criminals were operating through sophistications and were using malicious software.
"The other implication is that networks and systems in this country are poorly protected or there are no policies in place to regulate the use of these infrastructure," he said.
Chief Supt Yankson indicated that fraudsters took the opportunity of the anonymity of the cyberspace to defraud victims, using false identity on social media.
He stated that suspects registered SIM with false identity and used it to perpetrate crimes "knowing that the mobile networks have no means of verifying their identities because of the absence of National Identification System and hence law enforcement agencies find it difficult to trace."
Chief Supt Yankson said most of online investments were ponzy schemes, operated outside the country with associates in Ghana and, cautioned all those engaging in cryptocurrency to exercise circumspection before doing it
He stated that with sextortion cases, the fraudsters acquired nude pictures through various means and blackmailed their victims, who were mostly women, to pay ransom or risk having it posted on websites or the internet.
Chief Supt Yankson said some companies in the country were folding up as a result of cyber fraud, adding that it has affected the country's image internationally.
He said the unit would intensify its efforts to educate the public on the dangers of cyber fraud.
"The unit is also collaborating with the telecommunication companies to ensure the safety of their clients in the country," Chief Supt Yankson added.
Chief Supt Yankson advised network providers to follow various protocols and ensure that their networks were protected.
He asked banks to adopt cyber security measures as the Bank of Ghana directive dubbed "Cyber Information and Security" for financial institutions to protect their networks.
Chief Supt Yankson said suspects who were arrested for various fraud offences last year were convicted by the courts whilst others were still on trial.
He urged citizens to be vigilant, and acquire knowledge on cyber security to avoid being victims of fraudsters and scams, and called on the media to support the unit educate the public on cyber fraud.
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