The Bank of Ghana (BoG) has revealed that it has discovered a money-doubling scam operating in Ghana under the alias “World Remit.”
According to the central bank, this fraudulent operation is different from the internationally known Fintech “World Remit,” which is in the business of international money transfers.
This scam encourages consumers to pick preferred packages, after which the fraudsters create a code with which they acquire their victims’ WhatsApp accounts for fraudulent purposes.
The scheme is fraudulent and does not provide the promised returns to investors. The general population is advised to avoid patronizing this and other similar unlicensed enterprises. The Bank of Ghana claims that it has not licensed any companies or individuals that participate in ‘Money Doubling’
As a result, the general public is urged to take the following precautions:
i. Verify with Bank of Ghana or other relevant authorities, the licensing status of persons or entities prior to depositing funds with them;
ii. Place deposits only with institutions licensed by Bank of Ghana, in order that they may be accorded the necessary protection offered under the applicable banking laws; and
iii. Refer to 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 the Bank’s website: www.bog.gov.gh.
To prevent financial loss, the bank warns the public not to engage in this unlawful and fraudulent conduct. Any person or organization that engages in such or similar scams does so at their own risk. The public is encouraged to report such actions to the Bank of Ghana’s Financial Stability Department.
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