Digital Scam Losses Hit GH¢37m As Fraud Cases surge 54%
The rapid adoption of digital financial services in Ghana has been accompanied by a sharp increase in electronic fraud, with scam cases reported by Payment Service Providers (PSPs) rising by more than half in 2025.
According to the Banks, Specialised Deposit-Taking Institutions (SDIs) and Payment Service Providers (PSPs) 2025 Fraud Report, the number of electronic fraud incidents increased from 15,673 cases in 2024 to 24,124 cases in 2025, representing a 54 per cent year-on-year increase.
The report attributes the rise largely to the continued shift by consumers and businesses toward digital payment channels, creating more opportunities for cybercriminals to exploit unsuspecting users.
The financial consequences of the surge in digital fraud were equally alarming.
The report showed that the value at risk in the PSP sector climbed from GH¢19 million in 2024 to GH¢37 million in 2025, representing a 95 per cent increase.
The 2025 figure is almost double the previous year's losses, underscoring the growing sophistication and scale of electronic financial crimes.
Industry observers say the increase reflects the expanding use of mobile money, digital wallets, online banking platforms and other electronic payment systems across the country.
While Ghana's digital payment ecosystem continues to expand rapidly, the report warns that fraudsters are adapting just as quickly by developing more sophisticated methods to target consumers and financial institutions.
Electronic fraud schemes increasingly exploit weaknesses in digital platforms through identity theft, account takeovers, impersonation, phishing, social engineering and other cyber-enabled scams.
The findings suggest that financial institutions, fintech companies and payment service providers will need to strengthen cybersecurity infrastructure, enhance fraud detection systems and intensify public education on digital safety.
Despite the increase in digital scams, the report found that the overall value at risk from fraud across banks and specialised deposit-taking institutions declined in 2025.
Total fraud exposure dropped from GH¢79.7 million in 2024 to GH¢64.5 million in 2025.
However, fraudulent withdrawals remained the single largest source of financial losses, accounting for approximately GH¢53.6 million in value at risk.
The report concludes that although progress has been made in reducing internal fraud within banks, the battle against financial crime is increasingly shifting to the digital space, where stronger cybersecurity measures, customer awareness campaigns and continuous investment in fraud prevention technologies have become essential to protecting Ghana's fast-growing digital economy.
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