BoG cautions public against ‘World Remit’ money doubling scheme

Accra, Oct. 14, GNA – The Bank of Ghana (BoG) has cautioned the public against an identified money doubling scheme operating in Ghana under the pseudo name “Worldremit”.

The Bank, in a statement to the Ghana News Agency signed by Ms Sandra Thompson, its Secretary, said the fraudulent scheme was distinct from the globally renowned Fintech, “WorldRemit” which was in the business of international fund transfers.

The statement said the fraudulent scheme encouraged suspecting customers to select preferred packages, following which a code was generated by the fraudsters with which they obtained the WhatsApp accounts of their victims for spurious purposes.

It reiterated that the Bank of Ghana had not licensed any entities or individuals engaged in money doubling.

She advised the public to verify from BoG or other relevant authorities the licensing status of persons or entities before depositing funds with them.

She said the public should only engage institutions licensed by BoG to be accorded the necessary protection offered under the applicable banking laws.

“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,” she added.