BoG Warns Public Against ‘Daily Wealth Guide’ Crypto Scam

The Bank of Ghana (BoG) and the Securities and Exchange Commission (SEC) have jointly issued a warning to the public against a fraudulent crypto investment platform called “Daily Wealth Guide.” The warning follows the circulation of a doctored video on social media that purportedly shows President John Dramani Mahama endorsing the investment platform.

The regulators emphasized that the scheme involves deposit-taking and cautioned the public against depositing funds with unlicensed operators, as the Bank of Ghana has not licensed any entity or individual to engage in crypto investment. The fraudulent scheme is being promoted through the “Daily Wealth Guide” platform, with the doctored presidential video used to lend legitimacy to the investment opportunity.

The BoG and SEC warned that individuals or entities involved in such practices would face significant financial penalties, including a penalty of 500 – 100,000 administrative penalty units under the Anti-Money Laundering Act, 2020 (Act 1044). The regulators urged the public to verify the licensing status of individuals and companies before committing their money to investment schemes and reminded the public to place deposits only with institutions licensed by the Bank of Ghana and other relevant authorities.

Brief written by urgent.news from The Chronicle Ghana's own syndicated text. Machine-written — may contain errors; check the original before relying on it.