International Fraudsters Target Ghanaian Companies
A growing trend of fraud has been observed in Ghana, with international scammers targeting local businesses and individuals. The schemes are sophisticated and have resulted in significant financial losses for many victims.
Shipping Agent Scams
One common modus operandi is for shipping agents to contact companies, claiming they can facilitate the shipment of goods at an agreed fee. The company pays the advance fee, only to be left stranded when the “agent” disappears with their money and fails to deliver the goods.
- Example: A company agrees to pay a shipping agent $1,000 to transport goods from Ghana to the United States.
- Result: The shipping agent takes the money and never delivers the goods, leaving the company with significant financial losses.
Property Rental Scams
Another type of fraud involves property rental scams, where individuals pose as estate agents or landlords, taking deposits from potential tenants for non-existent properties. Some builders have even been known to take advances from would-be renters to complete construction on a building, only to rent it out at a higher rate once completed and refunding the initial deposit.
- Example: A foreigner is promised a luxurious apartment in Accra, but upon arrival, discovers that the property does not exist.
- Result: The foreigner loses their deposit and has to find alternative accommodation.
Gold Trade Frauds
The gold trade is also a popular target for fraudsters. Locals posing as private businessmen lure foreigners with promises of lucrative business opportunities in Ghana’s gold mining industry. Samples of gold are shown, and the foreigner is persuaded to part with large sums of money, only to discover that the “businessman” has vanished with their cash.
- Example: A foreign investor is promised a high return on investment in a gold mining project, but upon investigation, discovers that the project does not exist.
- Result: The foreign investor loses their investment and has to deal with the consequences of fraud.
Travel Document Scams
Travel document scams have also emerged, with individuals claiming to have connections at embassies or high commissions, offering to assist in securing visas for unsuspecting victims. The Ghanaian CID has reported a surge in cases related to this type of fraud.
- Example: A tourist is approached by someone claiming to be able to secure a visa to Ghana, but upon arrival, discovers that the visa is invalid.
- Result: The tourist loses their money and has to deal with the consequences of being stranded in Ghana.
Trademark and Copyright Fraud
The increasing ease of international trade has led to a proliferation of trademark and copyright infringement. Big markets have emerged for imitation goods, from pharmaceuticals to music. While civil remedies are available, they are often seen as insufficient to deter violators of intellectual property rights.
- Example: A company produces counterfeit versions of popular products, such as watches or handbags.
- Result: The company loses revenue and reputation due to the infringement.
Money Laundering
The illegal trade of drugs and other illicit activities generates large profits, which are often laundered through fake businesses or legitimate financial institutions. In Ghana, it is an offence to engage in money laundering, and authorities have taken steps to prevent such activities.
- Example: A criminal organization uses a legitimate business as a front to launder drug money.
- Result: The criminal organization loses their illegal profits and faces legal consequences for engaging in money laundering.
To combat these types of fraud, it is essential for businesses and individuals to be aware of the risks and take steps to protect themselves. This includes researching companies thoroughly before conducting business with them and being cautious when receiving unsolicited offers or requests for payment.