The Economic and Organized Crime Office (EOCO) has issued an alert on the upsurge of cheque transaction fraud in Ghana.
A statement from EOCO mentioned that the fraudsters are hiding behind the issuing of cheques and other modes of payment to defraud traders and other business entities.
“They do this sometimes by riding on the back of technology, whereby all transactions are done via cell phones without physical contact with the business entity. After the agreement is reached, the fraudsters then issue cheques on unfunded or dormant accounts, which take a number of days to be detected through the interbank clearing system. This result in the cheque being returned by the banks,” an excerpt of the statement said.
Read full statement from EOCO below:
Ghana | Atinkaonline.com | Vivian Adu
