The Bank of Ghana is urging consumers to be aware of a money-doubling scam operating in Ghana under the alias “Worldremit,” claiming that the plan is fraudulent and does not provide investors with the promised returns.
This fraudulent scam, according to the Central Bank, is distinct from the worldwide recognized Fintech “WorldRemit,” which specializes in international fund transfers.
“This method encourages users to select preferred packages, after which fraudsters generate a code with which they get their victims’ WhatsApp accounts for nefarious intents,” it said in a statement.
“The general population is advised to avoid patronizing this and other similar illegal operations.” “The Bank of Ghana maintains that no businesses or persons engaged in ‘Money Doubling’ have been authorised,” it added.
It advised the public to check the licensing status of individuals or entities with the Bank of Ghana or other relevant authorities before depositing funds with them; deposit funds only with institutions licensed by the Bank of Ghana, so that they can benefit from the necessary protection provided by the applicable banking laws; and refer to the 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 Bank Of Ghana website.
BoG cautioned against other fraudulent activity
The BoG also cautioned 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”.
It urged the public to report such activities.