Two members of a criminal organization were found guilty on Thursday, April 6, 2023, and given 12-month prison terms for their roles in sim swap and mobile banking application fraud by the Accra High Court.
Solomon Ofosu and Linda Abakah were convicted of conspiring to steal, theft, and money laundering.
The accused individuals were also ordered by the court, which was presided over by Her Ladyship Justice Afia Serwah Asare-Botwe (Mrs. J.A.), sitting as an extra High Court Judge, to pay a fine of 2,000 penalty units each or, in default, serve twenty-four months in jail with hard labor.
In April 2022, the Economic and Organized Crime Office (EOCO), in partnership with the Ghana Association of Bankers (GAB) and the An Assin Fosu-based criminal organization, was detained by the Ghana Police Service.
The group engaged in SIM swap fraud and fraudulent use of mobile banking applications.
The court found that because the two accused had been in detention for a long amount of time—six months—and because they had not received the majority of the profit or revenues from the crime, they had been given a reasonably mild punishment.
However, the same crimes were also brought against the other two defendants, Derick Obeng, nicknamed Chilling, and Ezekiel Otoo, who were still at large at the time of sentence.
The group allegedly used fraud methods including mobile banking applications and SIM swaps.
With the use of social engineering, money is taken online via mobile application fraud, which entices bank clients to provide their phone numbers, passwords, pin codes, and one-time passwords (OTP). They seize control of the customer's bank account, mobile device, and electronic currency once they get access to these details.
The remaining sum was illegally taken out of the clients' Agency Points accounts. This was mostly accomplished with the help of bank representatives and telecom workers who helped switch SIM cards.
Clients' cell numbers were switched by the syndicate through their fraudulent operations, which gave them access to their clients' mobile banking applications and allowed them to steal money. They were able to take GH257,472.22 out of 11 accounts without authorization.
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