Although digital advancements present opportunities for growth and development, they also unfortunately provide a platform for criminals to exploit, undermining their positive potential.

In Ghana, 422 individuals involved in illegal digital lending were arrested in a joint operation recently carried out by the Cyber Security Authority (CSA), the Bank of Ghana (BoG), and the Economic Organised Crime Office (EOCO). They are accused of cyberbullying, extortion, and abuse of customer data. The operation was carried out across three locations in the Greater Accra Region on July 10.

The arrests were made in the framework of a joint investigation, part of the Joint Cybersecurity Committee (JCC) activities, which resulted in the apprehension of 419 Ghanaians, one Chinese, one Pakistani, and one Indian suspect. Seized items included 654 mobile phones, 22 laptops, and 800 SIM cards.

At a press conference, the three agencies involved in the operation indicated that the joint investigation aims to enforce relevant cybersecurity, banking, and crime prevention laws.

The CSA had received over 270 reports of cyberbullying, extortion, and other illicit activities since December 2022. Following their investigations, the Cybersecurity authority identified and shared findings on 150 unlicensed applications involved in illegal practices.

EOCO, responsible for safeguarding financial market integrity, formed a joint technical task force with BoG and CSA to target unlicensed digital loan platforms. COP Maame Yaa Tiwaa Addo-Danquah (Executive Director of EOCO) warned the public against engaging with illegal financial entities online, affirming EOCO’s commitment to enforcing financial market regulations.

The collaborative effort is a significant stride in Ghana's fight against cybercrime and aims to protect citizens from fraudulent lending practices. By fostering a secure digital environment and upholding financial market integrity, authorities are working to safeguard the public's financial well-being.

Hikmatu Bilali