The Securities and Exchange Commission (SEC) has cautioned the public against two suspected fraudulent investment platforms operating under the names YEPBIT EXCHANGE and BONCHAT.
According to the SEC, the platforms are soliciting investments from members of the public, including through digital and crypto-asset platforms, despite not being licensed to provide investment or trading services in Ghana.
The Commission said it is mandated to regulate and promote the development of an efficient, fair and transparent securities market while protecting investors and safeguarding the integrity of the market.
The SEC has therefore advised members of the public to verify the licensing status of any entity offering investment or trading services before committing their funds. The Commission urged investors to contact the SEC directly to confirm whether a platform or company is authorised to operate.
The public has also been cautioned against investment schemes that promise unusually high or guaranteed returns, as well as platforms whose earnings depend primarily on recruiting other people.
The SEC further urged members of the public to report suspicious investment schemes and unlicensed platforms to the Commission to help protect investors and prevent financial losses.
Story by Freedom Etsey Lavoe
