Founder and Executive Chair of e-Crime Bureau, Dr. Albert Antwi-Boasiako, says digital fraud thrives when users lack awareness and institutions fail to build strong systems to dete
The report indicates that founder and Executive Chair of e-Crime Bureau, Dr. Albert Antwi-Boasiako, says digital fraud thrives when users lack awareness and institutions fail to build strong systems to detect and prevent attacks.
It further notes that he says Ghana’s digital economy needs more “capable guardians” to protect consumers as more people use mobile money, banking apps, online marketplaces and social media platforms for everyday transactions.
“Fraud thrives where there is no capable guardian. A capable guardian is the awareness, system or capacity that helps detect and prevent fraud,” Dr. Antwi-Boasiako said.
He spoke in a yet-to-be-aired documentary, “The Trust Crisis,” ahead of the maiden Digital Economy Forum under the theme, “The Trust Crisis: Why Fraud Is Holding Back Ghana’s Digital Economy.”
The thought-leadership platform, an initiative of Hubtel, will air on JoyNews and Joy FM on Wednesday, July 22, 2026, at 8 p.m.
The forum will bring together regulators, banks, fintech companies, telecommunications firms, cybersecurity experts, businesses and consumers to examine how fraud is affecting public confidence in Ghana’s digital economy.
Dr. Antwi-Boasiako stated digital fraud cannot be understood only as a technology problem. It also grows out of weak public awareness, poor detection systems, low deterrence and gaps in institutional response.
He stated fraudsters make calculated decisions based on reward, detection and enforcement.
“The lack of awareness of the risks and schemes being used by cybercriminals puts users of digital platforms in danger. In criminology, we refer to rational choice theory. Criminals are not stupid. They make calculated decisions based on clear goals. They act when the chance of detection is low and the reward is high,” he indicated.
He stated the internet gives criminals cover, while digital payment platforms can give them quick financial benefit.
According to him, fraudsters are further encouraged when detection and deterrence appear weak.
“The internet provides a kind of cover. There is also the element of reward. If I am able to deceive you into sending money to my mobile money account, I can quickly withdraw it. There is instant financial benefit to the criminal. They also act when they believe detection and deterrence are almost non-existent. When enforcement is weak, from investigation and prosecution standpoints, they take advantage of that,” he added.
His comments come as Ghana’s digital payment ecosystem continues to expand.
The Bank of Ghana’s 2024 Payment Systems Oversight Annual Report says Ghana’s payment landscape remained buoyant and robust in 2024 as adoption of digital payments increased. The central bank stated it focused on effective oversight of players within the space to ensure that risks associated with digital payments were kept at a minimum.
