David Gyedu reports GH₵209.7m lost to cybercrime in nine months

Ghana recorded a stark increase in cybercrime losses, reaching GH₵209.7 million within the first nine months of 2026. Cybersecurity expert David Gyedu revealed these figures during an appearance on GTV’s Breakfast Show, noting a sharp rise from the GH₵22.5 million reported in 2025. With nearly 5,000 incidents documented in the first three quarters of the year alone, Gyedu warned that the nation faces an escalating threat environment that requires urgent intervention. According to Gyedu, the most significant threat remains mobile money fraud, which he characterized as "hacking the mind" rather than traditional computer hacking. He explained that most cases involve social engineering, where fraudsters manipulate victims into revealing sensitive information by impersonating mobile money service providers or established brands. These criminals often use phishing messages tailored to current events and deploy malware that activates when unsuspecting users dial specific codes. Once funds are stolen, they are rapidly moved through multiple accounts to evade detection by law enforcement. The expert also raised concerns about the integration of artificial intelligence in criminal activities, specifically the rise of AI-generated deepfakes. Gyedu highlighted that as little as three seconds of a person’s voice can now be cloned to create authentic-sounding fraudulent communications. Furthermore, he pointed to vulnerabilities in the health sector, where data from imported hospital scanning systems is allegedly being harvested and sold on the dark web. He noted that Ghana currently lacks the robust health data protection policies found in many Western countries, leaving local institutions and patients exposed. To address these growing risks, Gyedu called for the establishment of a dedicated national cybersecurity budget to ensure security agencies are adequately resourced. He emphasized the need for continuous public education to help citizens recognize emerging scams, particularly as the festive season approaches and cyber activity typically increases. Beyond local issues, he referenced global trends, such as a major $6 billion attack on Binance, to underscore the sophisticated nature of modern cyber threats and the necessity for Ghana to strengthen its digital defenses.