In a revealing move, Acting Deputy Director-General of the Securities and Exchange Commission (SEC), Mr. Mensah Thompson, has raised urgent concerns about the growing misuse of artificial intelligence (AI) in fraudulent schemes and impersonation across the country. His warning underscores the evolving challenges Ghana’s financial regulators face in safeguarding investors amid the rise of digitally enabled fraud.
AI-Driven Fraud: A New Frontier
Last month, the SEC issued a public alert drawing attention to a disturbing trend: fraudulent investment platforms are increasingly deploying AI to impersonate trusted public figures. These ploys often feature manipulated images and voice recordings to deceive unsuspecting investors, giving scammers a veneer of credibility. The fabricated endorsements tap into social media platforms, complicating efforts to trace perpetrators.
Mr. Mensah Thompson echoed this urgency, emphasizing that such advancements in AI technology are quickly being weaponized. “AI-generated content can mimic the voices and faces of government officials to perpetrate fraud—and we’re seeing that already,” he warned. While his warning was not yet published in full press release, it aligns with the SEC’s recent campaign against AI-powered financial scams.
SEC’s Strategic Countermeasures
The SEC is proactively responding to this emerging threat. A significant public notice issued on July 25, 2025, outlined common red flags in AI-enabled scams—such as promotion of unrealistic returns, faceless social media profiles, and the lack of transparent contact or licensing information. Simultaneously, licensed and unlicensed entities promoting platforms like “Gold AI Rise Platform” continue to be under heightened scrutiny.
Additionally, the SEC has ramped up enforcement efforts through dedicated fraud task forces and partnerships with law enforcement and regulators like the National Communications Authority.
Thompson added that education remains a key pillar of the SEC’s strategy—to ensure that investors can recognize and avoid deceptive schemes. “Awareness is half the battle,” he asserted.
The Role of Responsible Oversight
With over a decade of experience in governance and transparency, Mr. Mensah Thompson brings a sharp eye to investor protection. Since his appointment in May 2025 as Acting Deputy Director-General of SEC, he has emphasized accountability and risk-based oversight in Ghana’s capital markets. His latest comments signal a proactive leadership stance as regulators adapt to swiftly advancing technology.
What Investors Should Do
- Always verify licensing using SEC’s official website or call their toll-free line before investing.
- Beware of offers spreading via anonymous profiles or promising high returns with no risk.
- Treat media content featuring endorsements with suspicion unless verified.
Mr. Mensah Thompson’s alarm is a timely reminder that as AI technologies evolve, so too do the methods of those intent on financial deception. By reinforcing investor education, enforcing licensing laws, and pioneering digital vigilance, the SEC aims to stay one step ahead. In protecting investors, transparency and proactive regulation will prove indispensable.
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