The Securities and Exchange Commission (SEC) has said it has established a task force and a dedicated investigative team to combat fraudulent online investment schemes in Ghana.

Director General of the SEC, Rev. Daniel Ogbarmey Tetteh, in an interview with JoyNews said this initiative is part of the SEC's efforts to address the growing issue of online scams that deprive people of their hard-earned money.

He also revealed the formation of a Securities Fraud Committee, in collaboration with other digital space regulators.

“Most of the fraudulent activities are online based. That is why the SEC is also working with the National Communications Authority to deal with the challenge in that space”, he explained.

He mentioned that some culprits have already been arrested with the SEC's assistance and reported to the relevant security agencies for further action.

“These persons have been picked up. They have already been reported to the various security agencies for the necessary action to be taken against them”, he assured.

ID/BB

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