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Ghana Avoiding Scams in International Trade and Business

**If an alleged buyer or procurement agent purporting to be from an entity in Ghana asks you to pay advance fees such as taxes, registration, bank fees, attorney fees, etc. related to an export transaction, it is very likely a scam.  If you have already lost money or believe you may currently be involved in a fraud scheme, please contact your local Secret Service field office and file a complaint with the FBI’s Internet Crime Complaint Center (IC3).

Reoccurring Scams: In October 2024, the Government of Ghana confirmed to Commercial Service Ghana that every entity on a list of 16 entities that had repeatedly contacted U.S. companies was fraudulent.  Please consult that list to see the specific fraudulent entities. 

Background: U.S. individuals and businesses periodically are lured into scams and fraud schemes originating – or just purporting to be in — in Ghana or the surrounding region.  Cyber-crime takes many forms and can be perpetrated from anywhere; the individuals with whom you are communicating may not be located in the country they identify.  You also should not automatically trust official-looking documents you may have received from them.  Do your due diligence before sending any money. 

Due Diligence: The Commercial Section of the U.S. Embassy Ghana strongly advises U.S. companies to conduct due diligence on all potential new business partners in Ghana and other markets.  We can assist with this by reviewing correspondence or documentation received from potential partners and/or via one of our due diligence services such as the International Company Profile, which provides an in-depth or basic background check information on a specific foreign company to help determine its suitability as a potential business partner.  For more information, contact: Office.Accra@trade.gov or Tel: +233(0)30-274-1870 to inquire about our due diligence services. 

Red Flags: These fraud schemes are often very creative and innovative. Victims are enticed into believing they have been singled out to share in a particular procurement or in a multi-million-dollar business venture.  Other U.S. companies are simply approached by fraudulent buyers of their products who have studied the U.S company’s website closely, only to be led down a never-ending path of fees to facilitate that purchase. 

The most common scheme is the Advanced Fee Scheme.  The following are common red flags to look for in terms of fraud and scams:  

  • Unsolicited offers to buy goods and services or participate in government tenders.  
  • In almost every case, there is a sense of urgency.
  • The victim may be encouraged to travel to Ghana or a nearby country.
  • There may be forged, yet official looking documents.
  • Most of the correspondence is handled by email, mail, or fax. 
  • Blank letterheads and invoices may be requested from the victim along with the banking particulars.
  • Any number of fees are requested for processing the transaction with each fee purported to be the last required.
  • The confidential nature of the transaction is emphasized.
  • There are usually claims of strong ties to local government officials.
  • A Ghanaian residing in the United States, London, or another foreign venue may claim to be a clearinghouse bank for the Central Bank of Ghana.
  • Offices in legitimate government buildings may be used by impostors posing as the real occupants or officials.

The most common forms of these fraudulent business proposals fall into seven main categories:

  • Contract fraud (C.O.D. of goods or services)
  • Disbursement of money from wills
  • Purchase of real estate
  • Conversion of hard currency
  • Transfer of funds from over invoiced contracts
  • Advance fees or ‘gifts’ requested to enable U.S. company to be awarded lucrative tender
  • Advance fees to finalize an offer of employment of others

Letter of Credit and Trade Finance Schemes: The U.S. Export Import Bank (EXIM) has created an informative video that lists common signs of fraud on export documents (applications, financial statements, invoices, bills of lading, export and customs certifications, and letters of credit).  EXIM advises companies to be on the lookout for: expired, altered or inconsistent documents; unclear fees or commissions; odd prices on invoices; and unverified suppliers or third parties, among other red flags.   

Gold: Issues related to the sale of gold must also be carefully noted. Individuals who purport to sell gold or precious minerals must be registered under the Minerals Commission and Precious Minerals Marketing Company, where they will hold a legitimate assay certificate. Buyers must check with these organizations to verify the sellers and their certificates before exchanging any monies.

Legitimate Tenders: Legitimate tenders and requests for the supply of goods from the Ghanaian Government are more likely to be posted in official newspapers in Ghana such as the Business and Financial Times, the Daily Graphic and the Ghanaian Times and/or on the Ghana Public Procurement Authority (PPA) website.  Please see Commercial Service Ghana’s market intelligence about procurement in Ghana. 

Additional resources: individuals and companies can find out more about the Advanced Fee Fraud Scheme at U.S. Embassy Ghana’s Financial Scams page.  Again, if you have already lost money or believe you may currently be involved in a scheme, please contact your local Secret Service field office and file a complaint with the FBI’s Internet Crime Complaint Center (IC3).

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