Ghana CSA: Cybercrime Losses Hit GH₵209M, 9x Increase Reported

• Ghana recorded over GH₵209.7 million in cybercrime losses between January and September this year.
• This figure represents a ninefold increase in financial losses compared to GH₵22.5 million in the same period last year.
• Human error and social engineering are responsible for 60-95% of all cybersecurity incidents, according to Dr. Divine Selasi Agbeti.
• The Cyber Security Authority (CSA) is establishing a zonal office in Tamale to enhance regional cybersecurity awareness and incident response.
• The CSA encourages the public to report suspected cybercrimes via its 24-hour short code 292.

The alarming surge in financial losses, which escalated more than ninefold from GH₵22.5 million last year to over GH₵209.7 million this year, underscores the urgent need for enhanced cybersecurity protocols across the nation.

Ghana has experienced a significant surge in financial losses due to cybersecurity incidents, with figures reaching over GH₵209.7 million between January and September of this year. This alarming amount represents a more than ninefold increase compared to the GH₵22.5 million recorded during the same period last year. The total number of reported cyber incidents also saw an uptick, rising to 4,938 this year from 4,604 in the previous year.

These stark Ghana cybersecurity statistics were disclosed by Dr. Divine Selasi Agbeti, the Director-General of the Cyber Security Authority (CSA), during the Northern Regional Cybersecurity Awareness campaign held in Tamale. Dr. Agbeti highlighted that a substantial portion of these cyber incidents, specifically between 60 and 95 percent, are attributable to human error and various forms of social engineering. This emphasizes the critical role of public awareness and responsible digital practices in combating online criminal activities.

The campaign in Tamale formed a key part of the annual National Cybersecurity Awareness Month, an initiative designed to educate the public on emerging cyber threats, foster responsible digital conduct, and equip both individuals and institutions with essential knowledge for self-protection against cybercrime. The program also aims to cultivate a collective sense of responsibility in safeguarding Ghana's digital environment, particularly as reliance on mobile money, internet banking, and other digital financial services continues to grow.

Dr. Agbeti issued a strong caution to users of mobile money, internet banking, and digital wallets, advising vigilance against fraudulent investment schemes, impersonation tactics, and attempts by criminals to illicitly obtain sensitive personal information. He underscored that cybersecurity is a shared responsibility, urging individuals to secure their digital accounts, institutions to prioritize investments in cybersecurity infrastructure, and the public to disseminate online safety information within their families and communities. The Cyber Security Authority Ghana report also encourages the public to report suspected cybercrime incidents to the CSA via its 24-hour short code 292 and to seek guidance before engaging in any uncertain online transactions.

In a strategic move to bolster cybersecurity awareness, incident reporting, and response capabilities across the northern sector of the country, the CSA announced plans to establish a zonal office in Tamale. This new office is intended to bring the CSA's services closer to local communities and foster enhanced collaboration with stakeholders in addressing prevalent cyber threats.

Ali Adolf John, the Northern Regional Minister, whose speech was delivered on his behalf, identified common cybercrime threats in the region, including online investment fraud, Ghana mobile money fraud, and deceptive employment offers. He expressed particular concern for job seekers and individuals striving for financial improvement, who are often vulnerable to fraudulent schemes promising opportunities or returns in exchange for upfront payments. The Minister also highlighted issues related to deceptive recruitment and travel arrangements linked to criminal operations, advocating for stronger collaboration among the CSA, the Ghana Police Service, and other security agencies to effectively tackle these threats. He commended the initiative to establish the CSA Tamale zonal office, recognizing its potential to strengthen cybersecurity education, technical support, and institutional cooperation.

Lawyers and compliance officers in Ghana should advise clients to urgently review and strengthen their cybersecurity protocols, particularly focusing on employee training to mitigate human error and social engineering risks, given the reported ninefold increase in financial losses. Businesses should also be aware of the Cyber Security Authority's (CSA) increased awareness campaigns and reporting mechanisms, including the new zonal office in Tamale, which signals a heightened focus on enforcement and incident response across the country.

Source: Original reporting via GNA.