Four persons nabbed over GH¢200,000 SIM swap fraud

A joint collaboration between the Economic and Organised Crime Office (EOCO) and the Ghana Association of Banks, has led to the arrest of four (4) persons over their role in SIM swap fraud.

According to a representative of the Association of Banks, Ransford Nana Addo Jnr, the suspects were picked up after months of surveillance at various locations in the country for engaging in the collusion and illegal accessing of accounts of some Ghanaians from which they stole various amounts over GH¢200,000.

This latest arrest follows a request by the CEO of the Association of Banks, John Awuah for the Executive Director of EOCO, COP Maame Yaa Tiwaa Addo-Danquah to collaborate with them in fighting fraud in the sector that is causing revenue leakages.

Praising the efforts of EOCO which resulted in the arrest of the fraudsters, Mr Awuah cautioned miscreants to be warned as banks were sharing intelligence and have enhanced cooperation with all security agencies, especially EOCO to rid the banking sector of fraudsters.

A report on dailymailgh.com revealed that the suspects managed to withdraw about GHC200,000 before their cover was blown and subsequently apprehended by the security agency which was working closely with the banks.

SIM swap fraud occurs when fraudsters obtain a new SIM card from a person’s mobile service provider using the person’s registered phone number. They can get One Time Passwords (OTPs) and other alerts required to conduct financial transactions through the person’s bank account with the help of this new SIM.

Meanwhile, the suspects are being interrogated and will be arraigned before a court later this week.

Source: thenewsroomonline:com