SEC partners Cyber Security Authority to probe alleged CWPC investment scam

By Prince Antwi July 20, 2026

The Securities and Exchange Commission (SEC) has announced that it is working with the Cyber Security Authority (CSA) following reports that thousands of Ghanaians may have lost substantial sums of money in an alleged investment scam linked to Creative Walker Promotion Company (CWPC).

The online investment platform reportedly became inaccessible over the weekend, leaving many users unable to withdraw their funds and raising fresh concerns about the growing number of unlicensed investment schemes targeting the public.

Speaking to Citi Business News on Monday, July 20, 2026, Deputy Director-General of the SEC, Mensah Thompson, said the Commission had already initiated discussions with the CSA to determine the appropriate response to the alleged CWPC scheme and similar platforms operating in the country.

According to him, the SEC only became aware of complaints relating to CWPC over the weekend, after previously dealing with reports involving other online investment platforms such as YepBit and BonChat.

“This CWPC came to our attention just over the weekend. This morning, I spoke with the Director-General of the Cyber Security Authority, and we have scheduled a meeting this afternoon. We hope to jointly brief the public afterwards on the measures we are taking to address these developments,” he said.

Mr Thompson explained that both institutions intend to develop a coordinated strategy to tackle fraudulent investment schemes that continue to lure unsuspecting investors.

He stressed that stronger collaboration between regulators is necessary to curb the increasing number of online platforms operating without the required licences.

The SEC official also expressed concern about the methods used by fraudulent operators to gain public trust, noting that many now rely on respected individuals and social media influencers to promote their platforms.

According to him, this approach gives the false impression that the schemes are legitimate and encourages more people to invest.

He further observed that some of the platforms operate referral systems that require investors to recruit others before they can earn returns, allowing the schemes to spread rapidly.

“So you put the money on the platform, and they tell you before you earn the returns, you need to convince another person to come and join or make a referral,” he said.

Mr Thompson advised the public to exercise caution and avoid investing in any platform without first verifying its regulatory status.

He urged prospective investors to confirm whether an investment company is licensed by the SEC and to be wary of promises of unusually high or guaranteed returns.

“Always verify that the company is licensed by the Securities and Exchange Commission. If the returns being promised sound unrealistic, be extremely careful. If it seems too good to be true, it probably is,” he cautioned.