• About
  • Advertise
  • Privacy Policy
  • Contact
Sunday, October 12, 2025
  • Login
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
No Result
View All Result

Ghana Losses a Whopping GH¢49.5 million Losses to Cyber Fraud in the First Half of 2023

Stephen M.Cby Stephen M.C
September 4, 2023
Reading Time: 4 mins read
Stephen M.Cby Stephen M.C
in Technology
0
Ghana Losses a Whopping GH¢49.5 million Losses to Cyber Fraud in the First Half of 2023

The increasing trend of cyber fraud in Ghana is worrisome to many as the next victim could be any company or individual. The situation has taken a different dimension in the first half of the year as Dr Albert Antwi-Boasiako, the Director-General, Cyber Security Authority, disclosed that Ghana has recorded GH¢49.5 million direct financial losses through cyber fraud activities between just January and June this year.

The figure, though huge, constitutes only a fraction of cases reported to state agencies, while financial losses of unreported cases could exceed the amount reported so far. Dr Antwi-Boasiako announced this at the media launch of the National Cybersecurity Awareness Month (NCSAM) in Accra.

“We expect the media launch to set in motion a month-long national cybersecurity awareness creation that will assemble public and private sector players, cybersecurity professionals, the academia, and representatives from civil society organisations, in preparation for the NCSAM as we seek to encourage every Ghanaian to stay digitally alert.”

Dr Albert Antwi-Boasiako

Dr Antwi-Boasiako noted that although Ghana has made a lot of progress in creating public awareness on cybersecurity issues, there is the need to intensify awareness creation amongst the youth. He disclosed that the Authority received 41,285 contacts between October 2019 and July 2023 complaints from the public on cybercrime and other related activities.  Of the figure, he said 41 per cent is online fraud including shopping fraud, romance fraud, online blackmail and identity fraud.

RelatedPosts

China’s 6G Breakthrough Signals Bold Leap into Fourth Industrial Revolution

Lab-Grown Sperm And Eggs Could Soon Enable Parents To Design Their Future Children

Intel’s New Laptop Chips to Extend Battery Life

Dr Antwi-Boasiako, therefore, called for collective and individual responsibility in protecting oneself against digital fraud.  He urged the public to contact the Authority’s toll free line 292 to report any issue concerning online fraud for prompt action.

Institutional Harmonisation and Integration

Dr Antwi-Boasiako also called for institutional harmonisation and integration of the work of state agencies collating statistics on arrests, prosecutions and convictions of persons involved in cyber fraud.  The CSA Boss observed that global digitalisation trends have changed the way businesses conduct business. Therefore, he called on the government to create opportunities, and enabling interventions for economic growth. 

Recent Statistics indicated that more than 62% (4.95 billion) of the world’s population have access to the internet. In Ghana, internet penetration has increased exponentially from 2.31 million in 2012 to 17 million users in 2022, representing 53% of the population.

ADVERTISEMENT

Dr Antwi-Boasiako noted that cybersecurity awareness is a global initiative aimed at raising awareness about cybersecurity and promoting best practices for online safety.  

Ghana started the National Cybersecurity Awareness in 2017 with the establishment of the National Cyber Security Week which subsequently evolved into a month-long event under the auspices of the then National Cyber Security Secretariat.

According to the Group Special Mobile Association (GSMA) Mobile Connectivity Index (MCI) 2023 report, Ghana is ranked 4th in Africa with a score of 51.4% depicting significant progress in connectivity over the past five years. 

In the same report, Ghana had a score of 86.69% in Online Security (a key dimension of the index) consistent with the country’s score on the ITU’s Global Cybersecurity Index (GCI).

Ghana’s Internet Penetration Rate

Ghana’s internet penetration rate i.e, internet users in 2023 stands at 23.05 million representing 68.2% of the total population. Out of this, 6.6 million (19.5%) are active social media users contributing to the country’s 13th rank on the list of countries that spend considerable time on the internet.

Dr Antwi-Boasiako explained that Ghana’s effort at ensuring a culture of digital safety is borne out of the country’s cyber culture and societal dimension derived from the cybersecurity Capacity Maturity Model (CMM) assessment commissioned by the Ministry of Communications and Digitalisation in January 2018. The assessment was conducted by the Global Cyber Security Capacity Centre (GCSCC) of the University of Oxford in collaboration with the World Bank.

Key among the critical issues captured by the assessment included the lack of cybersecurity consciousness and awareness among the Ghanaian public. Also captured was inadequate security measures for government e-services with knowledge gaps in fundamental cybersecurity concepts.

Following these shortfalls, the CSA is seeking to leverage the NCSAM 2023 to address the concerns raised in the assessment hence the theme, ‘Promoting a Culture of Digital Safety’. This year’s theme highlights the importance of cultivating a collective mind-set and behaviour that values and promotes responsible online practices, cybersecurity awareness, and the protection of personal information.

Dr Antwi-Boasiako, moreover, called for collaborative efforts to harmonise the processes of public procurement in the public service to secure a judicious, economic, and efficient use of state resources and provide a streamlined mechanism for guaranteeing that cybersecurity service providers, establishments and professionals in the country execute their duties in accordance with approved international standards.

READ ALSO: Market Observers Predict the Cedi to Enjoy Steadiness Amidst Pull-Back Factors

Tags: Cyber fraudGhana Losses a Whopping GH¢49.5 million Losses to Cyber FraudGSMAInstitutional Harmonisation and IntegrationMobile Connectivity Index (MCI)National Cybersecurity Awareness Month
Please login to join discussion
Previous Post

Ukrainian Defence Minister Submits Resignation

Next Post

Bugri Naabu Claims He Recommended Current IGP To The President- Supt. Asare

Related Posts

China’s 6G Breakthrough Signals Bold Leap into Fourth Industrial Revolution
Technology

China’s 6G Breakthrough Signals Bold Leap into Fourth Industrial Revolution

May 6, 2025
Lab-Grown Sperm And Eggs Could Soon Enable Parents To Design Their Future Children
Technology

Lab-Grown Sperm And Eggs Could Soon Enable Parents To Design Their Future Children

January 28, 2025
Intel’s New Laptop Chips to Extend Battery Life
Technology

Intel’s New Laptop Chips to Extend Battery Life

January 6, 2025
Hon. Ursula Owusu-Ekuful, Minister for Communications and Digitalisation
Technology

Ghana Launches 5G Network, Promises Nationwide Coverage by 2026 

November 1, 2024
Australian Watchdog Withdraws Case Against X
Technology

Elon Musk’s X Faces Legal Battle in Ireland Over Data Use

August 7, 2024
CrowdStrike’s $10 Apology for Global Software Meltdown Backfires
Technology

CrowdStrike’s $10 Apology for Global Software Meltdown Backfires

July 24, 2024
Lawyers Declare Odo Broni as Recognized Wife of Daddy Lumba
Entertainment

Lawyers Declare Odo Broni as Recognized Wife of Daddy Lumba

by Esther Korantemaa OffeiOctober 12, 2025
Minister for Lands and Natural Resources, Hon. Emmanuel Armah-Kofi Buah
General News

Mahama’s Galamsey Fight Non-Negotiable – Lands Minister Declares

by Evans Junior OwuOctober 12, 2025
Mining consultant Ing. Wisdom Edem Gomashie
Extractives/Energy

Mining Consultant Challenges GoldBod CEO’s Claims on Gold Purchases 

by Prince AgyapongOctober 12, 2025
Ecobank Ghana Empowers the Next Generation Through Digital Inclusion
Banking

Ecobank Ghana Empowers the Next Generation Through Digital Inclusion

by Stephen M.COctober 12, 2025
GES Urges Parents to Accept Placements and Prepare Wards
General News

GES Urges Parents to Accept Placements and Prepare Wards

by Silas Kafui AssemOctober 12, 2025
Cameroon Goes To The Polls
Africa

Cameroon Goes To The Polls

by Comfort AmpomaaOctober 12, 2025
Lawyers Declare Odo Broni as Recognized Wife of Daddy Lumba
Minister for Lands and Natural Resources, Hon. Emmanuel Armah-Kofi Buah
Mining consultant Ing. Wisdom Edem Gomashie
Ecobank Ghana Empowers the Next Generation Through Digital Inclusion
GES Urges Parents to Accept Placements and Prepare Wards
Cameroon Goes To The Polls

Recent News

Lawyers Declare Odo Broni as Recognized Wife of Daddy Lumba

Lawyers Declare Odo Broni as Recognized Wife of Daddy Lumba

October 12, 2025
Minister for Lands and Natural Resources, Hon. Emmanuel Armah-Kofi Buah

Mahama’s Galamsey Fight Non-Negotiable – Lands Minister Declares

October 12, 2025
Mining consultant Ing. Wisdom Edem Gomashie

Mining Consultant Challenges GoldBod CEO’s Claims on Gold Purchases 

October 12, 2025
Ecobank Ghana Empowers the Next Generation Through Digital Inclusion

Ecobank Ghana Empowers the Next Generation Through Digital Inclusion

October 12, 2025
GES Urges Parents to Accept Placements and Prepare Wards

GES Urges Parents to Accept Placements and Prepare Wards

October 12, 2025
Cameroon Goes To The Polls

Cameroon Goes To The Polls

October 12, 2025
The Vaultz News

Copyright © 2025 The Vaultz News. All rights reserved.

Navigate Site

  • About
  • Advertise
  • Privacy Policy
  • Contact

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2D
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships

Copyright © 2025 The Vaultz News. All rights reserved.