The Bank of Ghana has warned the general public against the practices of money doubling, card loading and credit card loading system.

According to a release from the apex bank, no individual or entity has been licensed to engage in these practices with culprits to be required to return all funds received among other sanctions.

The release explain that it is illegal for any person or institution without the mandate and authority of the Bank of Ghana to advertise and engage in money loading, card loading and credit card loading system activities on traditional and social media platforms.

The Bank of Ghana has however cautioned individuals and entities to desist from these practices with immediate effect.

The general public has been advised to deposits only with institutions licensed by the Bank of Ghana , in order to be accorded the protection available under the banking law.

Below is the statement

 

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