Ghanaians seeking to grow their savings have been warned to watch out for a rising wave of investment scams exploiting social media, artificial intelligence and promises of extraordinary returns, as the Securities and Exchange Commission (SEC) intensifies efforts to protect the public from fraudulent investment operators.
The Commission has cautioned that some schemes are promising returns of 30% or more per month, using polished advertisements, fake testimonials and AI-generated videos to convince unsuspecting people that their money will generate quick and substantial profits.
The warning comes amid growing concerns about how easily fraudsters can use digital platforms to reach potential victims, particularly individuals who may have limited knowledge of financial markets and the risks associated with investing.
SEC Director-General James Klutse Avedzi has urged Ghanaians to verify the credentials of investment firms before committing their money, stressing that professional-looking online promotions should never be treated as proof of legitimacy.
His warning highlights the growing challenge facing ordinary investors who want to build wealth but could lose their hard-earned savings to operators hiding behind convincing digital identities.
SEC Sounds Alarm Over AI-Powered Investment Scams
The increasing use of artificial intelligence has introduced new challenges for people trying to distinguish genuine investment opportunities from fraudulent schemes.
According to the SEC, scammers are combining sophisticated marketing techniques with fake endorsements and AI-generated videos to make their operations appear credible. These tactics can create the impression that an investment business has a strong reputation, experienced professionals and a reliable record of paying returns, even when its legitimacy has not been established.
Social media platforms, including WhatsApp, Telegram and TikTok, have become important channels through which these operators approach potential investors.
Mr Avedzi explained that fraudsters are increasingly using these platforms to reach people who may not be particularly familiar with financial markets.
The danger is that victims may feel comfortable sending money after seeing what appears to be convincing evidence of other people making profits. Some may also be influenced by recommendations from friends or relatives who have encountered the schemes online.
However, attractive videos, impressive testimonials and persuasive claims cannot replace proper regulatory checks.
The SEC is therefore encouraging the public to look beyond the appearance of an investment opportunity and establish whether the company offering it has the necessary authorisation to operate in Ghana.
Promises of 30% Monthly Returns Raise Red Flags
Among the most concerning features identified by the Commission are promises of exceptionally high returns, particularly when presented as guaranteed profits.
An offer promising monthly returns of 30% or more can appear attractive to individuals hoping to increase their income, pay bills, finance businesses or achieve long-term financial security. Yet such claims should prompt serious questions about how the returns are generated and what risks investors are expected to bear.
The promise of quick profits can make people overlook important details, including the identity of the investment operator, the terms governing their funds and the possibility of losing their money.
Mr Avedzi has urged Ghanaians to be suspicious of offers that guarantee unusually high returns or pressure them into making immediate decisions.
He also cautioned investors against schemes that encourage them to recruit friends and family members, as such tactics can spread financial losses beyond the original investor.
“Real confidence is knowing where your money is going, asking the right questions and walking away when the answers don’t make sense,” he said.
The SEC’s advice is particularly relevant at a time when digital promotions can reach thousands of people within a short period, allowing questionable investment offers to circulate before potential victims have independently verified them.
23 Unlicensed Investment Groups Identified
The Commission’s latest warning follows an earlier intervention in July 2026, when the SEC identified 23 groups operating online and on social media without licences to offer investment products in Ghana.
The development underscores the scale of the challenge facing regulators as investment promotions increasingly move from traditional channels to digital spaces.
Unlicensed operators may use websites, social media accounts and messaging groups to attract deposits while presenting themselves as legitimate financial service providers.
The SEC has repeatedly advised the public to stay away from investment schemes that lack the required regulatory approval.
Mr Avedzi outlined three essential precautions for anyone considering an investment. Individuals should first confirm that the company is licensed by the SEC, exercise caution when presented with promises of guaranteed high returns, and avoid operators who create pressure to invest immediately or recruit others. “If it does not carry a licence from the SEC, walk away,” he cautioned.
Verifying a company’s regulatory status before sending money can help investors avoid costly mistakes. It is also important to remember that a familiar brand name, a large social media following or positive online comments do not automatically establish that an investment provider is authorised.
Financial Literacy Could Help Protect Household Savings
Beyond enforcement, the SEC is emphasising the importance of financial literacy in helping Ghanaians make better decisions about spending, saving and investing.
Mr Avedzi said financial literacy matters regardless of a person’s income or occupation because everyday financial choices can affect the security of individuals and their families.
He encouraged the public to develop consistent saving habits and select investments based on their financial circumstances, personal objectives and tolerance for risk.
Legitimate capital-market options include government bonds, corporate bonds, shares and collective investment schemes. However, these products have different characteristics, risks and potential returns, meaning investors must understand what they are buying before committing funds.
Rather than concentrating solely on advertised profits, investors should examine the investment terms, associated charges, withdrawal conditions and risks involved.
Seeking clarification from authorised professionals and consulting the SEC’s official channels can also help people make informed choices.
Investors Urged to Think Before Sending Money
The latest warning serves as a reminder that protecting savings requires more than spotting suspicious advertisements. Investors must be prepared to question attractive offers, verify claims independently and resist pressure to act before conducting the necessary checks.
Artificial intelligence may make fraudulent schemes more convincing, but it does not change the importance of regulatory approval and careful financial decision-making.
As the SEC continues its efforts to protect Ghana’s capital market, the public is being encouraged to approach online investment opportunities with caution and prioritise the safety of their money over the temptation of quick profits.
Ultimately, taking time to verify an investment firm before transferring funds could help prevent financial losses that take years to recover from.
READ ALSO: BoG Withdraws GH¢18.88 Billion From Banking System in Three-Day Liquidity Push
