Internet financial crimes (Cyber Fraud) originate in various countries across Africa and for the past decade, numerous Ghanaians particularly the youth have been massively involved to survive the termed “hardship” in the country.
Although many areas of the world economy have been suffocated by the COVID-19 pandemic, it appears to have helped the business of fraudsters. Some scammers have taken advantage of the new chances presented to the pandemic economy, according to authorities and their methods appear to be becoming increasingly sophisticated.
Similarly, anti-fraud procedures are growing more complex with technology and ultimately intelligence playing a role.
In 2016, Ghana suffered a total loss of 50 million dollars due to a cyber-attack. In the same year, cyber-attacks cost Africa a total of 2 billion dollars.
In May this year, over 4,000 cases of cyber fraud had been detected and were being investigated according to the Ghana Chamber of Telecommunications.
The cases according to the CEO of the organization, Ken Ashigbey, were documented during the pilot stage of the Fraudulent Controls Dashboard to prevent cyber fraud activities.
Many efforts like those indicated above have been proposed in recent years in the name of combating and eliminating various forms of fraud and other economic crimes. But in terms of preventing fraud, have these efforts been successful? Can a standard anti-fraud kit be enough to halt the fraud pandemic?
What can be done to help curb things around?
Looking into the main aspects of some fraudulent activities among some citizens in the country, these techniques can be employed to reduce the number of doings in such activities.
The development of anti-fraud agencies, as well as cross-agency partnerships and collaboration, should be the first and important aspect. This includes interactions include government agencies, the government and commercial sector, and occasionally civil society players such as consumer protection organizations.
Different actors should be brought together to battle the shared enemy by signing contracts of understanding and partnerships to enhance data collection, sharing of knowledge within and across borders.
The anti-fraud agencies, task forces, squads, and networks have to be strengthened regularly at the state level.
Secondly, public awareness, engagement, and empowerment should have a significant influence. Education, sensitization, and awareness among citizens including the involvement of the youth and students (secondary and university level) will be a powerful means of popularizing the anti-fraud campaign.
A couple of most affected organizations can help promote this. Banks, insurance companies, private consultancies, monetary funds, and assistance companies including Non-Governmental Organisations (NGOs) should be among them.
Also, larger-scale technology has to be heavily utilized in this initiative. Anti-fraud software in many forms has to be prominently featured to detect fraudulent actions or transactions. Password protection approaches can be among other options. Counterfeit or poor products can also be discovered using technology.
Arrests, confiscation, and destruction of items and victims of fraud should be named and displayed publicly by the media for cautious instances.
For all these measures to be in a good play, there should be the elimination of biases, opaqueness, indiscretions, and effectiveness by stakeholders involved.
Source: Mybrytfmonline.com/Ben-Dave Ardisson N. Osei-Bonsu
