Bank Of Ghana Cautions The Public Against A Frudulent Scheme Called “Bitcash Currency Exchange” [Read Details]

Bank Of Ghana Cautions The Public Against A Frudulent Scheme Called “Bitcash Currency Exchange” [Read Details]

The Bank of Ghana has served notice on the alleged operations of a fraudulent financial scheme known as Bitcash Currency Exchange.

 

In a notice served by the Bank of Ghana (BoG), it is alleged that there is a money doubling scheme called “Bitcash Currency Exchange”, which claims to have been licensed by BoG.

 

Read: You Cannot Perform Transactions At Any Bank Without Ghana Card – Bank of Ghana

 

According to BoG, its outfit has not licensed such an entity or any other crypto currency exchange platform to operate. It has alleged that this fraudulent scheme does not award its investors as promised.

 

The finance regulatory body has said that “unsuspecting recipients of such messages who click on the hyperlink or forward such messages compromise the safety of their funds, their WhatsApp accounts and other social media profiles, as well as those of friends and family on their contact list.

 

To avoid falling victim to this fraudulent scheme, BoG has outlined cautious guidelines for the public as follows:

1. Delete such messages upon receipt and desist from forwarding them to others.

 

2. Remove any member (s) on social media platforms from whom such messages are received as their accounts may have been compromised.

 

3. Verify with Bank of Ghana or other relevant authorities, the licensing status of persons or entities, prior to depositing funds with them or patronising their services.

 

Read Also: Steps To Get Replacement For Your Lost/Damaged Ghana Card

 

4. Place deposits only with institutions licensed by the BoG, in order that they may be accorded the necessary protection under the applicable banking laws.

 

5. Review and familiarize themselves with Bank of Ghana’s notice on ‘Money Doubling’ and ‘Card Loading Systems’ titled NOTICE NO. BG/GOV/SEC/2022/02 which can be found on the Bank’s website.

 

The public is hereby encouraged by the Bank of Ghana not to engage this fraudulent scheme.

 

 

 

SOURCE: myafroghana.com

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myafroghana.com

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